Baidu said in a filing to the Hong Kong stock exchange that media reports claiming the company plans to spin off its non-wholly owned subsidiary Kunlunxin (Beijing) Technology Co., Ltd. for an independent listing are inaccurate. The company said it is assessing a potential spin-off and listing of the unit. Any such move would be subject to regulatory approvals, and Baidu made no assurance that the proposed transaction will proceed. Kunlunxin (Beijing) Technology, formerly Baidu’s intelligent chip division, raised independent funding in 2021 at a valuation of about RMB 13 billion ($1.84 billion). [Jiemian, in Chinese]
Related
