Chinese chipmaker Kunlunxin is preparing to complete a corporate restructuring aimed at accelerating its push toward a public listing, according to sources familiar with the matter.

"Everyone is paying attention; it's no longer a secret, but the timeline is still to be confirmed," one source said.

Prior to the latest round of restructuring, Kunlunxin held discussions with multiple brokerage firms and decided to target a Hong Kong stock exchange listing.

Following this, Baidu, Kunlunxin's major shareholder, announced that it is evaluating a proposed spin-off and potential listing. The company emphasized that any such move would require regulatory approvals and that there is no guarantee the spin-off or listing will proceed.

On the product front, Kunlunxin's flagship offering is the P800 chip. Based on an average estimated price of 60,000 yuan per unit, if the projected 2025 revenue of 3–4 billion yuan proves accurate, the corresponding chip shipments would range between 5,000 and 6,700 units.

The restructuring is seen as a key step in enhancing Kunlunxin's corporate governance and aligning its operations for a potential market debut, reflecting growing investor interest in China's domestic AI chip sector.