Cao Cao Mobility is set to debut on the Hong Kong Stock Exchange on June 25 under the stock code 02643, aiming to raise HK$1.853 billion, valuing the company at approximately HK$22.823 billion. Attracting six cornerstone investors, including Mercedes-Benz, Cao Cao Mobility stands as a strategic venture of Geely Holding Group. Since 2021, it has consistently ranked among the top three domestic ride-hailing platforms by scale and is projected to climb to second place by 2024. With operations spanning 136 cities, the company has witnessed a steady increase in order volume. Its gross margin has notably improved, rising from -4.4% in 2022 to 8.1% in 2024, largely due to the economies of scale derived from customized vehicles and automotive services solutions. Looking ahead, Cao Cao Mobility intends to utilize the proceeds from the IPO to enhance services, introduce more tailored vehicles, advance autonomous driving technology, and broaden its business footprint.