Baidu, Inc. (Nasdaq: BIDU) announced that its board of directors approved a motion to pursue a voluntary conversion to a dual-primary listing on the Main Board of the Stock Exchange of Hong Kong Limited, according to a press release dated July 16, 2026.

The conversion is expected to become effective within 2026, subject to market conditions and regulatory approvals. The board has authorized management to proceed with preparatory work and necessary procedures to complete the process.

Following the conversion, Baidu would hold dual-primary listings on both the Hong Kong Stock Exchange and the Nasdaq Global Select Market. The company's Class A ordinary shares and American depositary shares would continue to trade on both exchanges and remain mutually fungible.

Baidu stated the dual-primary listing is intended to enhance liquidity of its securities, broaden its investor base, and provide greater flexibility in accessing both capital markets.

The company said it will issue further announcements disclosing material updates and progress on the conversion in accordance with applicable laws and regulations.