Stock Track | CAOCAO INC Soars 8.62% Intraday on Strategic Acquisitions and Citigroup's Positive Outlook

Stock Track01-07

CAOCAO INC (02643) surged 8.62% during the trading session on Wednesday, reflecting strong investor confidence in the company's recent strategic moves.

The stock's rise follows the announcement of CAOCAO INC's acquisition of 100% equity in Shenzhou Mobility and its intention to acquire Geely Business Travel. Citigroup highlighted that these acquisitions will enhance the company's market competitiveness and ecosystem integration, particularly by leveraging Shenzhou Mobility's global service network and Geely Business Travel's overseas client resources. The bank also noted that servicing corporate clients and premium users could boost CAOCAO INC's revenue and profit margins.

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