Kunlunxin is currently intensifying its shareholding reform efforts, moving steadily towards a potential listing. Sources close to the matter indicate that while this development has attracted considerable attention, a definitive timeline for the listing has not yet been established. Prior to embarking on the shareholding reform, Kunlunxin engaged in discussions with multiple securities firms and ultimately decided to pursue a listing on the Hong Kong Stock Exchange. Subsequently, Baidu, a major shareholder of Kunlunxin, released an announcement stating that it is conducting a thorough assessment regarding the proposed spin-off and listing. Baidu underscored that the spin-off and listing are contingent upon obtaining relevant regulatory approvals, and there is no certainty that they will proceed as planned.
Turning to Kunlunxin's financial performance, previous research reports had estimated its annual revenue to reach approximately 5 billion yuan, marking a substantial increase from the 2 billion yuan recorded in 2024. However, according to the latest industry data, while its final annual revenue may fall short of this initial projection, it is still expected to significantly surpass the levels seen in 2024.