HK Stock Market Move | CAOCAO INC (02643) surged nearly 5% as it explores a new model for scalable Robotaxi operations in Shanghai and the Yangtze River Delta region in collaboration with Dazhong Transportation (Group) Co., Ltd.

CAOCAO INC (02643) rose nearly 5%. As of the time of this report, it increased by 4.94%, reaching HK$16.14, with a transaction volume of HK$17.9273 million. According to news from CAOCAO INC's official Weibo, on August 3, the company signed a strategic cooperation agreement with Dazhong Transportation (Group) Co., Ltd. The two parties will collaborate in exploring the area of Robotaxi mobility services, leveraging their respective advantages in intelligent driving technology, vehicle operation management, and urban transportation services. They aim to jointly explore new models for the large-scale operation of Robotaxi in Shanghai and the Yangtze River Delta region, contributing to the high-quality development of the intelligent connected vehicle industry. According to the agreement, the cooperation will be advanced in phases. Initially, both parties will jointly conduct Robotaxi demonstration operations, collaborating on aspects such as regulatory qualification advancement, vehicle operation management, platform integration, ground support, and safety services. Once the policy environment and operational conditions mature, the two parties will further promote the large-scale collaborative operation of Robotaxi fleets, continuously optimizing the business model and operational system to enhance intelligent mobility service capabilities.