HK Stock Market Move | CAOCAO INC(02643) rises over 6% in early trading. The company plans to acquire YAOCHUXING and Geely Business Travel to create an all-in-one technology travel platform.

CAOCAO INC (02643) soared over 6% in early trading, as of the time of writing, it rose 2.32%, to HK$30.92, with a turnover of HK$326.29 million. On the news front, on December 30th, CAOCAO INC announced two important strategic acquisitions: the acquisition of 100% equity of Weixing Technology Limited (referred to as "Yao Travel"); and the proposed acquisition of 100% equity of Zhejiang Geely Business Services Co., Ltd. (referred to as "Geely Business Travel"). After the completion of the two acquisitions, Yao Travel and Geely Business Travel will become wholly-owned subsidiaries of CAOCAO INC. This move will further enhance CAOCAO INC's product matrix and build a one-stop technology travel platform. According to reports, CAOCAO INC is the most important commercial vehicle for the Robotaxi of Geely Holding Group, committed to creating a globally leading technology travel platform. After this integration, CAOCAO INC will further integrate internal resources, form business synergy, and serve as the core platform of Geely Holding Group in the mobile travel business, driving the growth of the business travel service market.