CaoCao Inc. (2643. HK) Added to Hang Seng Composite Index, Set to Join Hong Kong Stock Connect on Sept 8
HONG KONG, Aug 22, 2025 – (ACN Newswire) –On August 22, CaoCao Inc. (‘CaoCao’ or ‘Company’, stock code: 2643. HK,) was picked to be contributed to the Hang Seng Composite Index as a constituent stock, with the modification working on September 8, 2025. The change, which follows the semi-annual evaluation results since June 30, 2025, shows capital market’s high acknowledgment of CaoCao Inc.’s market standing and development capacity. It is extensively expected that the business will end up being qualified for addition in the Hong Kong Stock Connect on the exact same date, therefore expanding its financier base and drawing in extra capital from Mainland China.
As an essential screening requirement for addition in the Hong Kong Stock Connect, constituents of the Hang Seng Composite Index should satisfy rigid requirements in market capitalization, liquidity, and representativeness. Because its listing on the Hong Kong Stock Exchange on June 25 in 2025, CaoCao Inc. has actually seen a constant increase in its share rate. By the end of the evaluation duration, its market capitalization far went beyond the addition limit for the Hang Seng Composite Index (organization price quotes position the limit for this modification at around HKD 7.33 billion), while its trading activity likewise fulfilled the requirements. The business’s distinct “purpose-built lorries + asset-light growth” design and its early tactical implementation in the Robotaxi sector have actually injected brand-new financial dynamism into the index.
CaoCao Inc. is a shared movement platform nurtured by Geely. The business has actually ended up being China’s second-largest trip hailing platform by 2024 Gross Transaction Value (GTV) and the biggest noted movement innovation business on the Hong Kong Stock Exchange. Leveraging Geely’s environment, CaoCao Inc. has actually presented all-electric car designs particularly created for shared movement circumstances. The Total Cost of Ownership (TCO) of these purpose-built cars is 36.4% lower than that of normal electrical automobiles. The business has actually released 34,000 purpose-built cars throughout 31 significant cities, representing the biggest fleet of its kind.
In 2024, CaoCao Inc. accomplished a yearly GTV of roughly RMB 17 billion, with its service network covering 136 cities across the country. By offering purpose-built lorries to regional movement capability partners, it effectively broadened into 85 brand-new cities and incentivized these partners to supply services through its platform. The business’s growing economies of scale added to a boost in its gross revenue margin to 8.1% in 2024, showing ongoing enhancement in success.
In February 2025, CaoCao Inc. introduced its self-governing driving platform, “CaoCao Zhixing,” starting pilot operations in Suzhou and Hangzhou. In partnership with Geely, the business is establishing L4-level Robotaxi purpose-built automobiles, which are anticipated to have a considerably lower TCO than similar items in the market. According to projections by Frost & & Sullivan, China’s Robotaxi market is predicted to grow to RMB 1,600 billion by 2035. CaoCao Inc. has actually developed China’s very first self-developed closed-loop community for Robotaxi, incorporating purpose-built cars, self-governing driving innovation, and a movement platform. With this complete commercial chain benefit, its Robotaxi organization is poised to end up being a brand-new development engine for the business.
A variety of leading banks– consisting of J.P. Morgan, Huatai Securities, and Shenwan Hongyuan Securities– formerly forecasted that CaoCao Inc. is anticipated to be consisted of in the Hong Kong Stock Connect on September 8, allowing mainland financiers to straight buy the business through the Shanghai-Shenzhen-Hong Kong Stock Connect system. More just recently, Zheshang Securities likewise started protection with a “Buy” ranking and set a target cost of HK$ 103.17. Experts think that the expected addition into the Stock Connect, paired with speeding up commercialization of Robotaxi services, is most likely to open additional medium- to long-lasting appraisal advantage. In addition, passive funds tracking the index modification are anticipated to perform focused purchasing throughout the tail end of the trading session on September 5, which might add to visible volume development and upward momentum in CaoCao Inc.’s share cost.
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