The Baidu Inc logo is displayed outside the company's headquarters in Beijing, Nov 12, 2014. [Photo/VCG]

US-listed Chinese internet search giant Baidu Inc said it is assessing the possibility of issuing Chinese Depositary Receipts to list in the domestic A-share market, according to documents submitted to the United States Securities and Exchange Commission.

Baidu said that if its CDR offering is approved by the relevant regulatory authority and successfully completed, the total number of shares issued by the company will increase. Any CDRs offered will represent newly issued Class A ordinary shares of Baidu, it said.

However, the timing and certainty of filing an application for the potential CDR offering, as well as the completion of the CDR offering, have not yet been determined and are subject to change based on market and other conditions, according to Baidu.

CDRs, similar to American Depositary Receipts, are certificates that allow investors to hold shares listed across national borders.

Various media previously reported that Baidu had selected Huatai Securities Co Ltd and CITIC Securities Co Ltd as sponsors for its issuance of CDRs. It was reported Baidu would be the first US-listed Chinese company to return to the A-share market via the new CDR system.

Robin Li, chairman and CEO of Baidu, said during the nation's annual two sessions that he was hopeful his company would be able to list on domestic stock exchanges, as its major users and markets are in China. He said it would be ideal if the major shareholders were also in China.

The firm reported its total revenue increased 31 percent year-on-year to 20.9 billion yuan ($3.2 billion) during the first three months of this year. Its net profit grew by 277 percent from a year earlier to reach 6.7 billion yuan by the end of March.

A string of CDR-related programs and draft rules has been announced in the past few months.

Chinese smartphone maker Xiaomi said last week it will postpone its plans to issue CDRs on mainland bourses, not long after disclosing its application.

"A notable future dynamic will stem from the introduction of the CDR system, which will lead to high-quality innovative companies that had listed abroad looking to return to the A-share market," said Amanda Zhang from PricewaterhouseCooper China, emphasizing China will maintain its leading position as one of the world's hottest IPO markets.

The CDR launch appeals to high-value startups, or unicorns, which have already built up overseas businesses, but have not yet listed overseas, Zhang said.