HK Stock Market Move | CAOCAO INC (02643) rose more than 5% to a new high and was included in the Hang Seng Composite Index. Institutions are optimistic about its long-term valuation space.

CAOCAO INC (02643) rose more than 5%, reaching a new high of 82.5 Hong Kong dollars. As of the time of writing, it has increased by 5.05% to 81.2 Hong Kong dollars, with a turnover of 47.3646 million Hong Kong dollars. On the news front, after the market closed on August 22nd, Hang Seng Index Company announced the results of its regular semi-annual index adjustment, in which CAOCAO INC was included in the Hang Seng Composite Index. The changes will be implemented after the market closes on September 5th and will take effect from September 8th. Previously, Morgan Stanley, Huatai, and other institutions had predicted that CAOCAO INC was expected to be included in the Hong Kong stock trading range on September 8th. Zheshang research report pointed out that the company, relying on Geely's ecosystem, has firmly established itself as the second in the online ride-hailing industry, and the "customized car + intelligent driving + travel platform" Robotaxi three-in-one ecosystem is taking shape and is expected to seize the first-mover advantage in the upcoming Robotaxi commercialization wave, opening up mid to long-term valuation space.