CAOCAO INC (02643) will use Hong Kong as a bridgehead to expand its global Robotaxi right-hand market. The stock rose more than 10% during the trading day.

CAOCAO INC (02643) stock price performance strong, rising over 10% in early trading this morning, closing up 3.25% at HK$24.16 per share, ranking among the top performers in the Hong Kong stock travel sector. On the news front, Yang Xueliang, Senior Vice President of Geely Holding Group, revealed at the 2026 Hong Kong Car Expo press conference that CAOCAO INC will showcase China's first native Robotaxi prototype at the Hong Kong Car Expo, and plans to expand its Robotaxi business in Hong Kong as a strategic gateway to the global right-hand drive market. The prototype integrates CAOCAO INC's experience in customized car research and development and ten years of travel operations, representing Geely Holding Group's latest exploration in the commercialization of Robotaxi. According to the plan, the customized version of the Robotaxi by CAOCAO INC will be put into mass production in 2027, with 100,000 units planned to be deployed by 2030. Market analysts indicate that Hong Kong is not only an international financial center but also an important gateway to right-hand drive markets in Southeast Asia, the Middle East, and more. If the Robotaxi business is successfully commercialized in Hong Kong, it will create opportunities for CAOCAO INC to expand globally. As the most important commercial vehicle of Geely Holding Group's Robotaxi, CAOCAO INC has formed an integrated ecosystem of "intelligent customized vehicles + intelligent driving technology + intelligent operation." Since the beginning of this year, CAOCAO INC's Robotaxi business has been accelerating. In April of this year, the company was approved to become the first company in Hangzhou to conduct unmanned Robotaxi road tests, marking the official entry of its Robotaxi business into the unmanned testing phase. Recently, CAOCAO INC announced a strategic partnership with Shanghai International Automobile City, planning to deploy 100 Robotaxi vehicles in Shanghai this year to accelerate the commercialization of Robotaxi businesses in key cities. Meanwhile, the autonomous driving industry has been heating up recently. On May 21st, Tesla officially announced that the FSD beta version can be used in China, driving increased attention from the capital market to the Robotaxi and intelligent driving industry chain. In addition to business progress, share buybacks are also seen as an important factor supporting market sentiment. Last week, CAOCAO INC announced plans to repurchase its own shares with a maximum total amount of HK$200 million in open market transactions starting from May 14, 2026. The repurchased shares will be cancelled or held as treasury shares based on market conditions and capital management needs. As of now, the related buyback plan has been implemented, further strengthening market confidence in the company's long-term value. Industry insiders generally believe that as share buybacks are implemented and the Robotaxi business continues to advance, market expectations for the valuation recovery of CAOCAO INC are strengthening. Several institutions have given positive assessments: Citigroup has a target price of HK$70, Caitong initiated coverage with a "buy" rating, and Guosen maintains an "outperform" rating.