The conversion allows Baidu to trade under the HKEX codes 9888 for the HKD counter and 89888 for the RMB counter. Despite the change in listing structure, the company confirmed that its ordinary shares in Hong Kong and American depositary shares on Nasdaq remain fully fungible. Each Baidu ADS represents eight Class A ordinary shares.

By securing dual-primary status, Baidu strengthens its capital market footprint while navigating the evolving regulatory landscape for Chinese technology firms. The company, founded in 2000, continues to focus on its core AI-driven business model, maintaining its Nasdaq ticker symbol BIDU.