🇺🇸 SECBaidu, Inc.Codex · 实盘不做把握 6/10不做原因:已被定价
北京时间·🕒 发布 18:04:31·⟳ 抓取 18:05:04 +33s·⚡ 决策 09-08 19:42:00 +1h36m·48.9 天前
百度港股已纳入沪深港股通并披露约4996万港元回购
事件方向偏正面,但核心增量是港股通纳入生效,已在9月4日和9月7日公开传播并发生同向交易反应;9月8日6-K和小额回购不足以形成新的可交易预期差。
📄 原文Baidu, Inc.↗ 原文
----- d153013d6k.htm ----- 6-K 1 d153013d6k.htm FORM 6-K Form 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASH…
不做 百度集团股份有限公司(09888.HK)
不追港股通生效后的备案确认;核心利好已在9月4日和9月7日公开并交易,回购规模很小,当前没有新的基本面或资金流预期差。
不做 百度集团股份有限公司(BIDU.US)
本次新增买盘直接作用于港股,ADR只是间接受益;美股盘前不可成交且6-K披露不构成新的可交易催化。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
百度港股通纳入会扩大内地投资者可买范围、改善流动性,逻辑本身偏利好;但该路径早在双重主要上市转换、9月4日沪港通公告和9月7日深港通生效时已被市场交易,公开报道显示港股在9月4日已上涨约4.8%,9月8日SEC披露只是把已公告事项和0.025%小额回购备案化,新增基本面和资金流证据不足以追多。
消息传播链
- 百度先公告港股Class A股份将于2026年9月7日纳入沪港通港股通,这是本次资金通道催化的首个关键公开节点。市场反应:公开报道称9月4日百度港股收涨约4.8%。
- 百度公告深港通纳入自2026年9月7日生效,且沪港通纳入同日生效,内地投资者可经双通道交易百度港股。
- 6-K同时披露9月7日回购54.5万股、总额约4996万港元,规模约占已发行A类股0.025%。
关键理由
- 港股通纳入扩大内地南向投资者可买范围,理论上改善百度(9888.HK)股东结构和流动性。
- 回购545000股、约4996万港元仅占已发行A类股约0.025%,对每股权益和市值支撑很小。
- 当前披露没有新增收入、利润、AI业务订单或指引上修,主要是证券供需事件而非经营基本面重估。
主要风险
- 9月4日至9月7日核心催化已公开并发生交易,继续追高容易变成港股通纳入后的见光回落。
- 百度仍受中国互联网广告、AI投入回报和同业竞争影响,本次事件不能覆盖基本面不确定性。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-09-04 · 影响 weakens
公开报道显示百度港股在9月4日已因港股通预期上涨约4.8%,削弱9月8日备案后追多edge。
检索:百度 港股通 纳入 9月7日 股价 4.8% 已经上涨 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-09-01 · 影响 weakens
媒体在9月1日已把双重主要上市与后续港股通资格和潜在南向资金联系起来,说明该逻辑不是9月8日新信息。
检索:Baidu dual primary listing Stock Connect price reaction September 2026 原文 ↗ - 做多前查反向 · 来源 filing · 日期 2026-09-08 · 影响 weakens
回购金额约4996万港元、占已发行A类股约0.025%,规模太小,不能单独支撑短线追多。
检索:百度 9月7日 回购 545000 股 49964074 港元 原文 ↗
先例如何影响了这次决策
对本次决策的影响:先例支持事件方向为正,但强化了price-in和不追生效后备案消息的判断。
方向:机制上偏正面,主要来自南向可买范围扩大和流动性改善。
涨幅量级:缺少3条以上同市场、同机制、同相位且首发锚干净的高相似样本,不能据此设定追多幅度。
形态:可见样本显示纳入港股通常在公告到生效窗口被提前交易,首日资金流有支撑但追高胜率不稳定。
历史先例(按相似度)
- 相似度 7/10 9988 2024-09-10 阿里巴巴港股加入港股通首日,报道称收涨4.2%、南向净流入约84.7亿港元。 原文 ↗
测阿里巴巴(9988.HK)港股通生效首日及随后短线反应。
相似度依据:同为大型中概互联网港股纳入港股通,但阿里规模、南向流入预期和当时基本面催化不同。
经验:大型互联网股纳入港股通可带来首日资金流和成交放大,但通常在公告与生效窗口已被提前交易。 - 相似度 5/10 9626 2022-10-03 Bilibili公告双重主要上市生效,并称港股可能很快具备港股通资格。 原文 ↗
测Bilibili(9626.HK)双重主要上市及后续港股通资格预期。
相似度依据:同为WVR中概股由第二上市转双重主要上市后具备港股通路径,但B站当时距离实际纳入仍有检查期,交易相位不同。
经验:双重主要上市本身是港股通资格路径,不等于立即产生南向资金买盘。
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----- d153013d6k.htm -----
6-K
1
d153013d6k.htm
FORM 6-K
Form 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13a-16
OR
15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number:
000-51469
BAIDU, INC.
Baidu Campus
No. 10 Shangdi 10th Street
Haidian District, Beijing 100085
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F.
Form
20-F ☒ Form
40-F ☐
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release—Baidu Announces Inclusion of Its Class A Ordinary Shares in the
Shenzhen-Hong
Kong Stock Connect and Shanghai-Hong Kong Stock Connect Programs
99.2
Voluntary Announcement—Baidu Announces Inclusion of Its Class A Ordinary Shares in the
Shenzhen-Hong
Kong Stock Connect
99.3
Next Day Disclosure Return, dated September 8, 2026
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
BAIDU, INC.
By
:
/s/ Haijian He
Name
:
Haijian He
Title
:
Chief Financial Officer
Date: September 8, 2026
----- d153013dex991.htm -----
EX-99.1
2
d153013dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Baidu Announces Inclusion of Its Class A Ordinary Shares in the
Shenzhen-Hong
Kong Stock
Connect and
Shanghai-Hong Kong
Stock Connect Programs
BEIJING, China, September 6, 2026 –
Baidu, Inc. (“Baidu” or the “Company”) (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced that the Company’s Class A ordinary
shares traded on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) have been included in the
Shenzhen-Hong
Kong Stock Connect program, effective today, September 7, 2026
(Beijing time). The previously announced inclusion of the Company’s Class A ordinary shares in the Shanghai-Hong Kong Stock Connect program also became effective today. Eligible investors in the Chinese Mainland now have direct access to
the trading of Baidu’s Class A ordinary shares through both programs.
The inclusion of Baidu’s Class A ordinary shares in the
Shenzhen-Hong
Kong Stock Connect program is pursuant to the Announcement on Adjustment of the List of the Eligible Stocks in Hong Kong Stock Connect under the
Shenzhen-Hong
Kong Stock Connect issued by the Shenzhen Stock Exchange on September 7, 2026.
Taken together, the inclusion in the Shanghai-Hong Kong Stock Connect
and the
Shenzhen-Hong
Kong Stock Connect marks an important step toward expanding the Company’s reach among Chinese Mainland investors and is expected to further diversify its investor base and enhance
the liquidity of its shares.
Baidu appreciates the continued support of its shareholders and investors and remains committed to driving sustainable
growth and creating long-term value for shareholders.
About the
Shenzhen-Hong
Kong Stock Connect
The
Shenzhen-Hong
Kong Stock Connect is a mutual stock market access mechanism between the Chinese Mainland and Hong
Kong under which the Shenzhen Stock Exchange and the Hong Kong Stock Exchange have established technical connectivity to enable investors in the Chinese Mainland and Hong Kong to trade eligible shares listed on the other’s market through their
local securities companies or brokers.
About the Shanghai-Hong Kong Stock Connect
The Shanghai-Hong Kong Stock Connect established a
two-way
trading link between the Shanghai Stock Exchange and the
Hong Kong Stock Exchange. The stock connect allows qualified Chinese Mainland investors to access eligible Hong Kong shares (Southbound) as well as Hong Kong and overseas investors to trade eligible
A-shares
(Northbound), subject to a certain amount of daily quota.
About Baidu
Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet
foundation, trading on Nasdaq under “BIDU” and HKEX under “9888”. One Baidu ADS represents eight Class A ordinary shares.
1
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, Baidu’s and other parties’ strategic and operational plans, contain forward-looking statements.
Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in
press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and
expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including
but not limited to the following: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search
and newsfeed market; competition for online marketing customers; changes in the Company’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including
those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and
Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form
20-F
and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under
applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
SOURCE Baidu, Inc.
Investor Relations, Baidu, Inc., Tel:
+86-10-5992-8888,
Email: ir@baidu.com
2
----- d153013dex992.htm -----
EX-99.2
3
d153013dex992.htm
EX-99.2
EX-99.2
Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Under our weighted voting rights structure, our share capital comprises Class A ordinary shares and Class B ordinary shares. Each Class A
ordinary share entitles the holder to exercise one vote, and each Class B ordinary share entitles the holder to exercise 10 votes, respectively, on all matters subject to the vote at general meetings of the Company. Shareholders and prospective
investors should be aware of the potential risks of investing in a company with a weighted voting rights structure. Our American depositary shares, each representing eight of our Class A ordinary shares, are listed on Nasdaq in the United
States under the symbol BIDU.
Baidu, Inc.
百度集團股份有限公司
(A company controlled through weighted voting rights and incorporated
in the Cayman Islands with limited liability)
(Stock Codes: 9888 (HKD counter) and 89888 (RMB counter))
VOLUNTARY ANNOUNCEMENT
BAIDU ANNOUNCES INCLUSION OF ITS CLASS A
ORDINARY SHARES IN THE SHENZHEN-HONG KONG STOCK CONNECT
This announcement is made by Baidu, Inc. (the “
Company
”) on a voluntary basis to provide its shareholders and potential investors with
information in relation to the latest development of the Company.
Reference is made to the announcement of the Company dated September 4, 2026 in
relation to the inclusion of its Class A ordinary shares as eligible stocks under the Shanghai-Hong Kong Stock Connect.
The Company is pleased to
announce that the Class A ordinary shares of the Company have been included as eligible stocks under the
Shenzhen-Hong
Kong Stock Connect with effect from September 7, 2026, pursuant to
《關於深港通下的港股通標的證券名單調整的公告》
(Announcement on Adjustment of the List of the Eligible Stocks in Hong Kong Stock Connect under the
Shenzhen-Hong
Kong Stock Connect*) issued by the Shenzhen
Stock Exchange on September 7, 2026.
The Company believes that its inclusion in the Shanghai-Hong Kong Stock Connect and the
Shenzhen-Hong
Kong Stock Connect marks an important step toward expanding the Company’s reach among Chinese Mainland investors and is expected to further diversify its investor base and enhance the liquidity
of its shares.
1
The Company would like to thank the continued support of its shareholders and investors and remains
committed to executing its long-term strategy, driving sustainable growth and creating long-term value for its shareholders.
Shareholders of the
Company and potential investors are advised to exercise caution when dealing in the shares or other securities of the Company.
By order of the Board
Baidu, Inc.
Mr. Robin Yanhong Li
Chairman of the Board
and Chief Executive Officer
Hong Kong, September 7, 2026
As at the date of this announcement, the board of directors of the Company comprises Mr. Robin Yanhong Li as director, and Mr. Yuanqing Yang,
Mr. Jixun Foo, Ms. Sandy Ran Xu and Ms. Xiaodan Liu as independent directors.
*
For identification purposes only
2
----- d153013dex993.htm -----
EX-99.3
4
d153013dex993.htm
EX-99.3
EX-99.3
FF305 Next Day Disclosure Return (Equity issuer—changes in issued shares or treasury shares, share buybacks and/or
on-market
sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: Baidu, Inc. Date Submitted: 08 September 2026 Section I must be completed by a listed issuer where there has been
a change in its issued shares or treasury shares which is discloseable pursuant to rule 13.25A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Exchange”) (the “Main Board
Rules”) or rule 17.27A of the Rules Governing the Listing of Securities on GEM of the Exchange (the “GEM Rules”). Section I 1. Class of shares WVR ordinary shares Type of shares A Listed on the Exchange Yes Stock code (if
listed) 09888 Description Class A Ordinary Shares Multi-counter stock code 89888 RMB Description A. Changes in issued shares or treasury shares Changes in issued shares Changes in treasury (excluding treasury shares) shares Events As a % of
existing Issue/ selling price per Total number of issued number of issued share (Note 4) shares Number of issued shares (excluding Number of treasury shares (excluding treasury shares) before shares treasury shares) the relevant event (Note 3)
Opening balance as at (Note 1) 01 September 2026 2,209,541,178 0 2,209,541,178 1). Other (please specify) % See Part B Date of changes 07 September 2026 Closing balance as at (Notes 5 and 6) 07 September 2026 2,209,541,178 0 2,209,541,178 Page 1 of
7 v 1.3.0
FF305 B. Shares redeemed or repurchased for cancellation but not yet cancelled as at the closing balance date (Notes 5 and 6) 1). Shares
repurchased for cancellation but not yet cancelled 545,000 0.025 % HKD 91.6772 Date of changes 07 September 2026 The voluntary conversion of Baidu, Inc. (the “Company”) to dual primary listing on the Main Board of The Stock Exchange
of Hong Kong Limited (the “Primary Remarks: Conversion”) became effective on September 1, 2026. The information contained herein under “Opening balance as at” refers to the number of issued and outstanding of
Class A ordinary shares (excluding treasury shares) as at the Primary Conversion effective date on September 1, 2026. Page 2 of 7 v 1.3.0
FF305 Confirmation Pursuant to Main Board Rule 13.25C / GEM Rule 17.27C, we hereby confirm to the best knowledge, information and belief
that, in relation to each issue of shares or sale or transfer of treasury shares as set out in Section I, it has been duly authorised by the board of directors of the listed issuer and carried out in compliance with all applicable listing rules,
laws and other regulatory requirements and, insofar as applicable: (Note 7) (i) all money due to the listed issuer in respect of the issue of shares, or sale or transfer of treasury shares has been received by it; (ii) all
pre-conditions
for the listing imposed by the Main Board Rules / GEM Rules under “Qualifications of listing” have been fulfilled; (iii) all (if any) conditions contained in the formal letter
granting listing of and permission to deal in the securities have been fulfilled; (iv) all the securities of each class are in all respects identical (Note 8); (v) all documents required by the Companies (Winding Up and Miscellaneous
Provisions) Ordinance to be filed with the Registrar of Companies have been duly filed and that compliance has been made with all other legal requirements; (vi) all the definitive documents of title have been
delivered/are ready to be delivered/are being prepared and will be delivered in accordance with the terms of issue, sale or transfer; (vii) completion has taken place of the purchase by the issuer of all property shown in the listing document
to have been purchased or agreed to be purchased by it and the purchase consideration for all such property has been duly satisfied; and (viii) the trust deed/deed poll relating to the debenture, loan stock, notes or
bonds has been completed and executed, and particulars thereof, if so required by law, have been filed with the Registrar of Companies. Notes to Section I: 1. Please insert the closing balance date of the last Next Day
Disclosure Return published pursuant to Main Board Rule 13.25A / GEM Rule 17.27A or Monthly Return pursuant to Main Board Rule 13.25B / GEM Rule 17.27B, whichever is the later. 2. Please set out all changes in issued shares or treasury shares
requiring disclosure pursuant to Main Board Rule 13.25A / GEM Rule 17.27A together with the relevant dates of changes. Each category will need to be disclosed individually with sufficient information to enable the user to identify the relevant
category in the listed issuer’s Monthly Return. For example, multiple issues of shares as a result of multiple exercises of share options under the same share option scheme or of multiple conversions under the same convertible note must be
aggregated and disclosed as one category. However, if the issues resulted from exercises of share options under 2 share option schemes or conversions of 2 convertible notes, these must be disclosed as 2 separate categories. 3. The percentage change
in the number of issued shares (excluding treasury shares) of the listed issuer is to be calculated by reference to the opening balance of the number of issued shares (excluding treasury shares) being disclosed in this Next Day Disclosure Return.
Page 3 of 7 v 1.3.0
FF305 4. In the case of a share repurchase or redemption, the “issue/ selling price per share” shall be construed as
“repurchase price per share” or “redemption price per share”. Where shares have been issued/ sold/ repurchased/ redeemed at more than one price per share, a volume-weighted average price per share should be
given. 5. The closing balance date is the date of the last relevant event being disclosed. 6. For repurchase or redemption of shares, disclosure is required when the relevant event has occurred (subject to the provisions of Main Board Rules
10.06(4)(a), 13.25A and 13.31 / GEM Rules 13.13(1), 17.27A and 17.35), even if the repurchased or redeemed shares have not yet been cancelled. If repurchased or redeemed shares are to be cancelled upon settlement of such repurchase or
redemption after the closing balance date, they shall remain part of the issued shares as at the closing balance date in Part A. Details of these repurchased or redeemed shares shall be disclosed in Part B. 7. Items (i) to (viii) are suggested
forms of confirmation. The listed issuer may amend the item(s) that is/are not applicable to meet individual cases. 8. “Identical” means in this context: - the securities are of the same nominal value with the same amount called up or
paid up; - they are entitled to dividend/interest at the same rate and for the same period, so that at the next ensuing distribution, the dividend/interest payable per unit will amount to exactly the same sum (gross and net); and - they carry the
same rights as to unrestricted transfer, attendance and voting at meetings and rank pari passu in all other respects. Page 4 of 7 v 1.3.0
FF305 Section II must also be completed by a listed issuer where it has made a repurchase of shares which is discloseable under Main
Board Rule 10.06(4)(a) / GEM Rule 13.13(1). Repurchase report Section II 1. Class of shares Ordinary shares Type of shares A Listed on the Exchange Yes Stock code (if listed) 09888 Description Class A Ordinary Shares Multi-counter stock
code 89888 RMB Description A. Repurchase report Repurchase price per share or Number of shares Method of repurchase Lowest repurchase Trading date highest repurchase price per Aggregate price paid $ repurchased (Note 1) price per share $ share $ 1).
07 September 2026 545,000 On the Exchange HKD 91.85 HKD 91.35 HKD 49,964,074 Total number of shares 545,000 Aggregate price paid $ HKD 49,964,074 repurchased Number of shares repurchased for 545,000 cancellation Number of shares repurchased for
holding as treasury shares B. Additional information for issuer who has a primary listing on the Exchange 1). Date of the resolution granting the repurchase mandate 26 August 2026 2). Total number of shares which the issuer is authorised to
repurchase under the repurchase mandate 273,356,149 3). Number of shares repurchased on the Exchange or another stock exchange under the repurchase mandate (a) 545,000 4). As a % of number of issued shares (excluding treasury shares) as at the date
of the resolution granting the repurchase mandate 0.02 % (a) x 100 / number of issued shares (excluding treasury shares) as at the date of the resolution granting the repurchase mandate 5). Moratorium period for any issue of new shares, or sale
or transfer of treasury shares after the share repurchase(s) set out in Part A Up to 07 October 2026 (Note 2) Page 5 of 7 v 1.3.0
FF305 We hereby confirm that the repurchases made on the Exchange set out in Part A above were made in accordance with the Main Board
Rules / GEM Rules and that there have been no material changes to the particulars contained in the Explanatory Statement dated July 27, 2026 which has been filed with the Exchange. We also confirm that any repurchases made on another stock
exchange set out in Part A above were made in accordance with the domestic rules applying to repurchases on that other stock exchange. Notes to Section II: 1. Please state whether the repurchase was made on the Exchange, on another stock exchange
(stating the name of the exchange), by private arrangement or by general offer. 2. Subject to the
carve-out
set out in Main Board Rule 10.06(3)(a)/ GEM Rule 13.12, an issuer may not (i) make a new
issue of shares, or a sale or transfer of any treasury shares; or (ii) announce a proposed new issue of shares, or a sale or transfer of any treasury shares, for a period of 30 days after any purchase by it of shares, whether on the Exchange or
otherwise, without the prior approval of the Exchange. Page 6 of 7 v 1.3.0
FF305 Section III must also be completed by a listed issuer where it has made a sale of treasury shares on the Exchange or any other
stock exchange on which the issuer is listed which is discloseable under Main Board Rule 10.06B / GEM Rule 13.14B. Report of
on-market
sale of treasury shares Not applicable Submitted by: Lin Juan (Name)
Title: Joint Company Secretary (Director, Secretary or other Duly Authorised Officer) Page 7 of 7 v 1.3.0
6-K
1
d153013d6k.htm
FORM 6-K
Form 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13a-16
OR
15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number:
000-51469
BAIDU, INC.
Baidu Campus
No. 10 Shangdi 10th Street
Haidian District, Beijing 100085
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F.
Form
20-F ☒ Form
40-F ☐
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release—Baidu Announces Inclusion of Its Class A Ordinary Shares in the
Shenzhen-Hong
Kong Stock Connect and Shanghai-Hong Kong Stock Connect Programs
99.2
Voluntary Announcement—Baidu Announces Inclusion of Its Class A Ordinary Shares in the
Shenzhen-Hong
Kong Stock Connect
99.3
Next Day Disclosure Return, dated September 8, 2026
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
BAIDU, INC.
By
:
/s/ Haijian He
Name
:
Haijian He
Title
:
Chief Financial Officer
Date: September 8, 2026
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EX-99.1
2
d153013dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Baidu Announces Inclusion of Its Class A Ordinary Shares in the
Shenzhen-Hong
Kong Stock
Connect and
Shanghai-Hong Kong
Stock Connect Programs
BEIJING, China, September 6, 2026 –
Baidu, Inc. (“Baidu” or the “Company”) (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced that the Company’s Class A ordinary
shares traded on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) have been included in the
Shenzhen-Hong
Kong Stock Connect program, effective today, September 7, 2026
(Beijing time). The previously announced inclusion of the Company’s Class A ordinary shares in the Shanghai-Hong Kong Stock Connect program also became effective today. Eligible investors in the Chinese Mainland now have direct access to
the trading of Baidu’s Class A ordinary shares through both programs.
The inclusion of Baidu’s Class A ordinary shares in the
Shenzhen-Hong
Kong Stock Connect program is pursuant to the Announcement on Adjustment of the List of the Eligible Stocks in Hong Kong Stock Connect under the
Shenzhen-Hong
Kong Stock Connect issued by the Shenzhen Stock Exchange on September 7, 2026.
Taken together, the inclusion in the Shanghai-Hong Kong Stock Connect
and the
Shenzhen-Hong
Kong Stock Connect marks an important step toward expanding the Company’s reach among Chinese Mainland investors and is expected to further diversify its investor base and enhance
the liquidity of its shares.
Baidu appreciates the continued support of its shareholders and investors and remains committed to driving sustainable
growth and creating long-term value for shareholders.
About the
Shenzhen-Hong
Kong Stock Connect
The
Shenzhen-Hong
Kong Stock Connect is a mutual stock market access mechanism between the Chinese Mainland and Hong
Kong under which the Shenzhen Stock Exchange and the Hong Kong Stock Exchange have established technical connectivity to enable investors in the Chinese Mainland and Hong Kong to trade eligible shares listed on the other’s market through their
local securities companies or brokers.
About the Shanghai-Hong Kong Stock Connect
The Shanghai-Hong Kong Stock Connect established a
two-way
trading link between the Shanghai Stock Exchange and the
Hong Kong Stock Exchange. The stock connect allows qualified Chinese Mainland investors to access eligible Hong Kong shares (Southbound) as well as Hong Kong and overseas investors to trade eligible
A-shares
(Northbound), subject to a certain amount of daily quota.
About Baidu
Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet
foundation, trading on Nasdaq under “BIDU” and HKEX under “9888”. One Baidu ADS represents eight Class A ordinary shares.
1
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, Baidu’s and other parties’ strategic and operational plans, contain forward-looking statements.
Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in
press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and
expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including
but not limited to the following: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search
and newsfeed market; competition for online marketing customers; changes in the Company’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including
those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and
Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form
20-F
and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under
applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
SOURCE Baidu, Inc.
Investor Relations, Baidu, Inc., Tel:
+86-10-5992-8888,
Email: ir@baidu.com
2
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EX-99.2
3
d153013dex992.htm
EX-99.2
EX-99.2
Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Under our weighted voting rights structure, our share capital comprises Class A ordinary shares and Class B ordinary shares. Each Class A
ordinary share entitles the holder to exercise one vote, and each Class B ordinary share entitles the holder to exercise 10 votes, respectively, on all matters subject to the vote at general meetings of the Company. Shareholders and prospective
investors should be aware of the potential risks of investing in a company with a weighted voting rights structure. Our American depositary shares, each representing eight of our Class A ordinary shares, are listed on Nasdaq in the United
States under the symbol BIDU.
Baidu, Inc.
百度集團股份有限公司
(A company controlled through weighted voting rights and incorporated
in the Cayman Islands with limited liability)
(Stock Codes: 9888 (HKD counter) and 89888 (RMB counter))
VOLUNTARY ANNOUNCEMENT
BAIDU ANNOUNCES INCLUSION OF ITS CLASS A
ORDINARY SHARES IN THE SHENZHEN-HONG KONG STOCK CONNECT
This announcement is made by Baidu, Inc. (the “
Company
”) on a voluntary basis to provide its shareholders and potential investors with
information in relation to the latest development of the Company.
Reference is made to the announcement of the Company dated September 4, 2026 in
relation to the inclusion of its Class A ordinary shares as eligible stocks under the Shanghai-Hong Kong Stock Connect.
The Company is pleased to
announce that the Class A ordinary shares of the Company have been included as eligible stocks under the
Shenzhen-Hong
Kong Stock Connect with effect from September 7, 2026, pursuant to
《關於深港通下的港股通標的證券名單調整的公告》
(Announcement on Adjustment of the List of the Eligible Stocks in Hong Kong Stock Connect under the
Shenzhen-Hong
Kong Stock Connect*) issued by the Shenzhen
Stock Exchange on September 7, 2026.
The Company believes that its inclusion in the Shanghai-Hong Kong Stock Connect and the
Shenzhen-Hong
Kong Stock Connect marks an important step toward expanding the Company’s reach among Chinese Mainland investors and is expected to further diversify its investor base and enhance the liquidity
of its shares.
1
The Company would like to thank the continued support of its shareholders and investors and remains
committed to executing its long-term strategy, driving sustainable growth and creating long-term value for its shareholders.
Shareholders of the
Company and potential investors are advised to exercise caution when dealing in the shares or other securities of the Company.
By order of the Board
Baidu, Inc.
Mr. Robin Yanhong Li
Chairman of the Board
and Chief Executive Officer
Hong Kong, September 7, 2026
As at the date of this announcement, the board of directors of the Company comprises Mr. Robin Yanhong Li as director, and Mr. Yuanqing Yang,
Mr. Jixun Foo, Ms. Sandy Ran Xu and Ms. Xiaodan Liu as independent directors.
*
For identification purposes only
2
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EX-99.3
4
d153013dex993.htm
EX-99.3
EX-99.3
FF305 Next Day Disclosure Return (Equity issuer—changes in issued shares or treasury shares, share buybacks and/or
on-market
sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: Baidu, Inc. Date Submitted: 08 September 2026 Section I must be completed by a listed issuer where there has been
a change in its issued shares or treasury shares which is discloseable pursuant to rule 13.25A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Exchange”) (the “Main Board
Rules”) or rule 17.27A of the Rules Governing the Listing of Securities on GEM of the Exchange (the “GEM Rules”). Section I 1. Class of shares WVR ordinary shares Type of shares A Listed on the Exchange Yes Stock code (if
listed) 09888 Description Class A Ordinary Shares Multi-counter stock code 89888 RMB Description A. Changes in issued shares or treasury shares Changes in issued shares Changes in treasury (excluding treasury shares) shares Events As a % of
existing Issue/ selling price per Total number of issued number of issued share (Note 4) shares Number of issued shares (excluding Number of treasury shares (excluding treasury shares) before shares treasury shares) the relevant event (Note 3)
Opening balance as at (Note 1) 01 September 2026 2,209,541,178 0 2,209,541,178 1). Other (please specify) % See Part B Date of changes 07 September 2026 Closing balance as at (Notes 5 and 6) 07 September 2026 2,209,541,178 0 2,209,541,178 Page 1 of
7 v 1.3.0
FF305 B. Shares redeemed or repurchased for cancellation but not yet cancelled as at the closing balance date (Notes 5 and 6) 1). Shares
repurchased for cancellation but not yet cancelled 545,000 0.025 % HKD 91.6772 Date of changes 07 September 2026 The voluntary conversion of Baidu, Inc. (the “Company”) to dual primary listing on the Main Board of The Stock Exchange
of Hong Kong Limited (the “Primary Remarks: Conversion”) became effective on September 1, 2026. The information contained herein under “Opening balance as at” refers to the number of issued and outstanding of
Class A ordinary shares (excluding treasury shares) as at the Primary Conversion effective date on September 1, 2026. Page 2 of 7 v 1.3.0
FF305 Confirmation Pursuant to Main Board Rule 13.25C / GEM Rule 17.27C, we hereby confirm to the best knowledge, information and belief
that, in relation to each issue of shares or sale or transfer of treasury shares as set out in Section I, it has been duly authorised by the board of directors of the listed issuer and carried out in compliance with all applicable listing rules,
laws and other regulatory requirements and, insofar as applicable: (Note 7) (i) all money due to the listed issuer in respect of the issue of shares, or sale or transfer of treasury shares has been received by it; (ii) all
pre-conditions
for the listing imposed by the Main Board Rules / GEM Rules under “Qualifications of listing” have been fulfilled; (iii) all (if any) conditions contained in the formal letter
granting listing of and permission to deal in the securities have been fulfilled; (iv) all the securities of each class are in all respects identical (Note 8); (v) all documents required by the Companies (Winding Up and Miscellaneous
Provisions) Ordinance to be filed with the Registrar of Companies have been duly filed and that compliance has been made with all other legal requirements; (vi) all the definitive documents of title have been
delivered/are ready to be delivered/are being prepared and will be delivered in accordance with the terms of issue, sale or transfer; (vii) completion has taken place of the purchase by the issuer of all property shown in the listing document
to have been purchased or agreed to be purchased by it and the purchase consideration for all such property has been duly satisfied; and (viii) the trust deed/deed poll relating to the debenture, loan stock, notes or
bonds has been completed and executed, and particulars thereof, if so required by law, have been filed with the Registrar of Companies. Notes to Section I: 1. Please insert the closing balance date of the last Next Day
Disclosure Return published pursuant to Main Board Rule 13.25A / GEM Rule 17.27A or Monthly Return pursuant to Main Board Rule 13.25B / GEM Rule 17.27B, whichever is the later. 2. Please set out all changes in issued shares or treasury shares
requiring disclosure pursuant to Main Board Rule 13.25A / GEM Rule 17.27A together with the relevant dates of changes. Each category will need to be disclosed individually with sufficient information to enable the user to identify the relevant
category in the listed issuer’s Monthly Return. For example, multiple issues of shares as a result of multiple exercises of share options under the same share option scheme or of multiple conversions under the same convertible note must be
aggregated and disclosed as one category. However, if the issues resulted from exercises of share options under 2 share option schemes or conversions of 2 convertible notes, these must be disclosed as 2 separate categories. 3. The percentage change
in the number of issued shares (excluding treasury shares) of the listed issuer is to be calculated by reference to the opening balance of the number of issued shares (excluding treasury shares) being disclosed in this Next Day Disclosure Return.
Page 3 of 7 v 1.3.0
FF305 4. In the case of a share repurchase or redemption, the “issue/ selling price per share” shall be construed as
“repurchase price per share” or “redemption price per share”. Where shares have been issued/ sold/ repurchased/ redeemed at more than one price per share, a volume-weighted average price per share should be
given. 5. The closing balance date is the date of the last relevant event being disclosed. 6. For repurchase or redemption of shares, disclosure is required when the relevant event has occurred (subject to the provisions of Main Board Rules
10.06(4)(a), 13.25A and 13.31 / GEM Rules 13.13(1), 17.27A and 17.35), even if the repurchased or redeemed shares have not yet been cancelled. If repurchased or redeemed shares are to be cancelled upon settlement of such repurchase or
redemption after the closing balance date, they shall remain part of the issued shares as at the closing balance date in Part A. Details of these repurchased or redeemed shares shall be disclosed in Part B. 7. Items (i) to (viii) are suggested
forms of confirmation. The listed issuer may amend the item(s) that is/are not applicable to meet individual cases. 8. “Identical” means in this context: - the securities are of the same nominal value with the same amount called up or
paid up; - they are entitled to dividend/interest at the same rate and for the same period, so that at the next ensuing distribution, the dividend/interest payable per unit will amount to exactly the same sum (gross and net); and - they carry the
same rights as to unrestricted transfer, attendance and voting at meetings and rank pari passu in all other respects. Page 4 of 7 v 1.3.0
FF305 Section II must also be completed by a listed issuer where it has made a repurchase of shares which is discloseable under Main
Board Rule 10.06(4)(a) / GEM Rule 13.13(1). Repurchase report Section II 1. Class of shares Ordinary shares Type of shares A Listed on the Exchange Yes Stock code (if listed) 09888 Description Class A Ordinary Shares Multi-counter stock
code 89888 RMB Description A. Repurchase report Repurchase price per share or Number of shares Method of repurchase Lowest repurchase Trading date highest repurchase price per Aggregate price paid $ repurchased (Note 1) price per share $ share $ 1).
07 September 2026 545,000 On the Exchange HKD 91.85 HKD 91.35 HKD 49,964,074 Total number of shares 545,000 Aggregate price paid $ HKD 49,964,074 repurchased Number of shares repurchased for 545,000 cancellation Number of shares repurchased for
holding as treasury shares B. Additional information for issuer who has a primary listing on the Exchange 1). Date of the resolution granting the repurchase mandate 26 August 2026 2). Total number of shares which the issuer is authorised to
repurchase under the repurchase mandate 273,356,149 3). Number of shares repurchased on the Exchange or another stock exchange under the repurchase mandate (a) 545,000 4). As a % of number of issued shares (excluding treasury shares) as at the date
of the resolution granting the repurchase mandate 0.02 % (a) x 100 / number of issued shares (excluding treasury shares) as at the date of the resolution granting the repurchase mandate 5). Moratorium period for any issue of new shares, or sale
or transfer of treasury shares after the share repurchase(s) set out in Part A Up to 07 October 2026 (Note 2) Page 5 of 7 v 1.3.0
FF305 We hereby confirm that the repurchases made on the Exchange set out in Part A above were made in accordance with the Main Board
Rules / GEM Rules and that there have been no material changes to the particulars contained in the Explanatory Statement dated July 27, 2026 which has been filed with the Exchange. We also confirm that any repurchases made on another stock
exchange set out in Part A above were made in accordance with the domestic rules applying to repurchases on that other stock exchange. Notes to Section II: 1. Please state whether the repurchase was made on the Exchange, on another stock exchange
(stating the name of the exchange), by private arrangement or by general offer. 2. Subject to the
carve-out
set out in Main Board Rule 10.06(3)(a)/ GEM Rule 13.12, an issuer may not (i) make a new
issue of shares, or a sale or transfer of any treasury shares; or (ii) announce a proposed new issue of shares, or a sale or transfer of any treasury shares, for a period of 30 days after any purchase by it of shares, whether on the Exchange or
otherwise, without the prior approval of the Exchange. Page 6 of 7 v 1.3.0
FF305 Section III must also be completed by a listed issuer where it has made a sale of treasury shares on the Exchange or any other
stock exchange on which the issuer is listed which is discloseable under Main Board Rule 10.06B / GEM Rule 13.14B. Report of
on-market
sale of treasury shares Not applicable Submitted by: Lin Juan (Name)
Title: Joint Company Secretary (Director, Secretary or other Duly Authorised Officer) Page 7 of 7 v 1.3.0
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