Shares of CAOCAO INC (02643) experienced notable gains throughout the trading session, closing up 9.72% at HK$15.46, with a turnover of approximately HK$96.74 million.
The company recently participated in the World Artificial Intelligence Conference, where its Chief Scientific Advisor for the AI Innovation Center and Turing Award laureate, Professor Joseph Sifakis, delivered a video presentation outlining three fundamental principles for achieving trustworthy Robotaxi services: safety by construction, system collaboration, and operational assurance.
Building upon this theoretical framework, the company has proposed a "Trustworthy Robotaxi Capability System" designed to enable large-scale commercial operations, focusing on three core competencies: trustworthy vehicles, trustworthy operational assurance, and a trustworthy operational system.
Regarding vehicle development, the company has launched China's first natively developed Robotaxi, featuring a vehicle-level multi-redundancy architecture design with key systems meeting the stringent ISO 26262 ASIL-D functional safety level.
Additionally, the company has been actively repurchasing its own shares. Since the beginning of July, it has executed five separate buyback transactions, acquiring a total of approximately 2.03 million shares for an aggregate amount exceeding HK$30 million.
A recent report from Citi highlighted that the company's management indicated a preliminary year-on-year improvement in gross profit and net profit for the first half of the year, with its core ride-hailing business continuing to outperform the industry.
The company expects to maintain a growth rate more than double the industry average for the full year. The report further suggests that while the core business continues to enhance profitability, the application of AI and the RoboX strategy are emerging as significant drivers for the company's future growth.
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