JD, Baidu Among Firms That May Follow Alibaba’s Listing Move

JD.com Inc. and Baidu Inc. are among Chinese firms that may follow Alibaba Group Holding Ltd. in applying for a Hong Kong primary listing, as they seek to attract mainland investors and hedge against the risk of being kicked off US exchanges.

Over the past year, Chinese companies from Li Auto Inc. to XPeng Inc. have increasingly opted for a dual-primary listing in both the US and Hong Kong. While this is more costly, the elevated status allows their stocks to be included into the city’s trading links with Shenzhen and Shanghai bourses, giving direct access to a legion of mainland investors.