On September 4, BIDU-W rose 3.72% in regular trading, trading at 94.9 HKD/share, with turnover of approximately 82.16 million HKD. The rally was driven by the company's imminent inclusion in the Hong Kong Stock Connect program and key AI talent acquisitions.

BIDU-W completed its conversion from a secondary listing to a dual primary listing on the Hong Kong Stock Exchange on September 1. Based on current rules and review timelines, the company could be included in Stock Connect as early as September 7. CFO Henry He stated the firm expects 10% to 15% incremental capital inflows following inclusion, and noted that AI business margins are expected to reach search business levels in the near term, with AI revenue accounting for over half of general business revenue for two consecutive quarters.

Adding to bullish sentiment, BIDU-W's foundational model unit reportedly recruited a top-tier AI researcher from a North American frontier lab to strengthen its ERNIE pre-training capabilities, while a former DeepSeek researcher has been appointed to lead multimodal algorithm development. The convergence of structural capital flow catalysts and strengthened AI R&D capabilities supported the intraday gain.

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