HK Stock Market Move | CAOCAO INC (02643) rose nearly 10%, the company acquired Yao Chu Xing and Geely Business Travel, expanding the B-end business travel track.

CAOCAO INC (02643) rose by nearly 10%, reaching a rise of 8.64% at the time of publication, at 36.2 Hong Kong dollars with a trading volume of 216 million Hong Kong dollars. On the news side, CAOCAO INC previously announced two strategic acquisitions: intending to acquire WeStar Technology (YaoChuXing) in full and planning to fully acquire Geely Business Travel. After the transactions are completed, both companies will become wholly-owned subsidiaries of CAOCAO INC. CEO Gong Xin of CAOCAO INC stated that after the completion of the acquisitions, the company will connect the entire service chain from daily commuting, business receptions to travel management, thereby creating business growth in the B-side business travel arena. Guotai Haitong released a research report stating that CAOCAO INC, with its deep cultivation in the Chinese travel market, has built an industry-leading capacity network and customized vehicle ecosystem, currently ranking second in market share. The company has continuously narrowed its Non-GAAP net loss significantly by optimizing operational efficiency and full vehicle lifecycle costs, approaching a profit turning point, demonstrating a stable scale effect. Meanwhile, leveraging Geely's industrial background, the company is actively deploying autonomous driving, making it a core entry point for the commercialization of technology. Overall, the company is entering a stage of reducing losses, increasing efficiency, and advancing technology innovation, with valuation having upward elasticity.