CAOCAO INC (02643) announced that on December 30, 2025 (after trading hours), its indirect wholly-owned subsidiary, Suzhou Youxing, entered into a share acquisition agreement with Geely Holding and Geely Business. According to the agreement, Suzhou Youxing agreed to acquire the entire equity interest in Geely Business from Geely Holding for a cash consideration of RMB 65 million. Upon completion of the acquisition, Geely Business will become an indirect wholly-owned subsidiary of the company.
The announcement stated that Geely Business is a business travel management service platform, focusing on providing corporate mobility solutions. The acquisition aligns with the Group's core mobility business strategy and will strengthen and expand its operational capabilities in key areas such as corporate services, one-stop business travel services, and data integration. Corporate services are a significant component of the Group's business, characterized by stable demand, high average prices, and high gross profit margins per order.
Geely Business's extensive corporate client resources present cross-selling opportunities, which will help the Group rapidly expand its corporate client base, increase its market share, enhance data integration capabilities, and improve long-term profitability. Furthermore, the synergy between the corporate and individual client segments can drive two-way traffic and value conversion, thereby boosting customer loyalty. Geely Business can provide the Group's corporate clients with comprehensive business travel and conference services, enriching the diversity of the Group's corporate product offerings, which in turn will enhance the Group's corporate service capabilities and generate stable revenue.
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