CAOCAO INC (02643) and Yiyi Hulian signed a marketing service framework agreement.

CAOCAO INC (02643) announced that on November 20, 2025, the company entered into a marketing services framework agreement with YiYi Internet for a period of 3 years from January 1, 2026 to December 31, 2028. The group will provide YiYi Internet and/or its affiliates with several marketing services for the promotion and user acquisition of their battery swapping services operated in China. The marketing services framework agreement allows the company to leverage its driver base and ecosystem resources to support the promotion and user penetration of the battery swapping services in the cities where the company operates. This collaboration will enhance operational synergies and is expected to increase drivers' value propositions by improving energy replenishment efficiency, strengthen user engagement with the company's travel services, and provide support for a wider electrification ecosystem. The pricing arrangements reflect relevant costs and market practices, and are entered into on normal commercial terms.