HK Stock Market Move | CAOCAO INC (02643) rose more than 6%, reaching a new high in the stock price. Institutions are optimistic that the company will increase its market share.

CAOCAO INC (02643) rose more than 6%, hitting a new high of 44.95 Hong Kong dollars. As of the time of writing, it rose by 6.14%, to 44.95 Hong Kong dollars, with a trading volume of 42.5799 million Hong Kong dollars. Public information shows that CAOCAO INC is a ride-hailing platform incubated by Geely Group: it obtained a ride-hailing operation license at the end of 2016 and as of December 2024, its business covers 136 cities nationwide. In 2022, it launched intelligent pure electric custom models, with over 34,000 custom vehicles deployed in 31 cities. In addition, in February 2025, it piloted Robotaxi services in Suzhou and Hangzhou, and is currently collaborating with Geely Group to develop L4-grade Robotaxi custom vehicles, expected to be launched by the end of 2026. China Securities Co., Ltd. Securities Research Report pointed out that as the company gradually expands into more cities, further increasing orders from map, local services, and other aggregating platform, the company is expected to increase its market share. At the same time, backed by GEELY AUTO, the company is actively expanding into autonomous driving technology and is expected to benefit from the growth brought by the manufacturing capabilities of leading car companies and the large-scale commercial operation of Robotaxi.