CAOCAO INC Shares Surge Over 7% in Late Trading on Profitability Target and Expansion Plans

Stock News04-20

CAOCAO INC (02643) saw its shares rise more than 7% during late trading. By the time of writing, the stock was up 6.71%, trading at HK$27.02 with a turnover of HK$62.7605 million.

The company's CEO recently stated that after narrowing its losses by 49% last year, the goal is to achieve annual profitability by 2026. He expressed confidence that the company could eventually capture over 15% of the autonomous driving market.

CAOCAO INC began deploying autonomous taxis last year and currently operates around 100 such vehicles in Hangzhou. The CEO indicated plans to expand into five to six additional Chinese cities this year, deploying approximately 100 vehicles in each location.

In overseas markets, the company intends to enter two to three new regions and launch services in Hong Kong. A specific autonomous taxi service model is scheduled for release in the first half of 2026, with mass production set to begin the following year.

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