# Baidu completes dual-primary listing and joins Stock Connect

> Live situation record from CLSTR: https://clstr.news/situations/baidu-dual-primary-listing-transition
> Updated: 2026-09-07T00:58:00.000Z. Sources: 13. Developments: 3.

Baidu has officially completed its transition from a secondary listing to a dual-primary listing on the Hong Kong Stock Exchange, effective September 1, 2026. This status change establishes a dual-primary structure alongside its existing Nasdaq Global Select Market listing in the United States.

As part of the transition, the “S” stock marker has been removed from Baidu’s Hong Kong-listed counters. While the conversion did not involve new share issuances or fundraising activities, the company is now required to comply with all relevant Hong Kong listing rules, including more stringent corporate governance and information disclosure requirements.

Following this transition, Baidu gained access to the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs on September 7, 2026. This allows eligible investors in mainland China to trade the company’s Class A ordinary shares listed on the Hong Kong Stock Exchange through southbound channels. The company expects this expanded access to broaden its investor base and enhance share liquidity, a move consistent with historical trends for Chinese tech firms included in these programs.

## Claims

- Baidu has converted its secondary listing status in Hong Kong to a dual-primary listing. (corroborated by 3 sources)
- Ordinary shares in Hong Kong and American depositary shares on Nasdaq remain fungible. (corroborated by 3 sources)
- The conversion did not involve issuing new shares or fundraising activities. (single source)
- Baidu must now comply with all Hong Kong listing rules applicable to dual-primary issuers. (single source)

## Timeline

### 2026-09-07: Baidu gains mainland China investor access via Stock Connect

Baidu’s Hong Kong-listed Class A shares are now included in the Shanghai and Shenzhen Stock Connect programs, allowing mainland Chinese investors direct access to trade the stock.

6 sources. https://clstr.news/cluster/baidu-gains-mainland-china-investor-access-via-stock-connect

### 2026-08-31: Baidu transitions to dual-primary listing in Hong Kong and the U.S

Baidu has converted its Hong Kong secondary listing to a dual-primary listing, making it primary-listed in both Hong Kong and on the Nasdaq.

8 sources. https://clstr.news/cluster/baidu-upgrades-hong-kong-listing-status-to-primary

### 2026-08-27: Baidu to adopt dual-primary listings in Hong Kong and Nasdaq

Baidu will transition to a dual-primary listing on the Hong Kong Stock Exchange and Nasdaq on September 1, 2026, without issuing new shares. AI revenue now constitutes 50% of the company's total income.

4 sources. https://clstr.news/cluster/baidu-to-adopt-dual-primary-listings-in-hong-kong-and-nasdaq

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Cite as: Baidu completes dual-primary listing and joins Stock Connect. CLSTR, https://clstr.news/situations/baidu-dual-primary-listing-transition