Cao Cao's departure caused Hong Kong stocks to fall more than 13% in the dark market.

Cao Cao Mobility's stock in the dark market fell by more than 13%, closing at 36.3 Hong Kong dollars. According to the prospectus, as of December 31, 2024, Cao Cao Mobility's ride-hailing business has expanded to 136 cities, adding 85 cities compared to 2023. The company achieved annual revenue of 14.7 billion yuan, a year-on-year increase of 37.4%.