CaoCao Inc.’s Robotaxi Strategy Received Unanimous Positive Coverage from Citi and Top 4 Chinese Brokerages, with an Average Target Price of HK$80.
Citi noted that CaoCao Inc. has outperformed in China’s ride-hailing market, with growth significantly above the industry average and clear potential for further market share expansion. Its deep synergy with Geely Holding Group has not only built a cost-advantaged business model but also laid a solid foundation for its entry into the Robotaxi sector.
CaoCao Inc. has attracted favorable ratings from multiple leading brokerages. Leading domestic institutions, led by the top four Chinese brokerages — Huatai Securities, CICC, CITIC Securities, and China Securities — have all initiated coverage on CaoCao Inc., assigning “Buy” or “Outperform” ratings.
On target prices, Huatai Securities leads with HK$100.4, followed by CITIC Securities at HK$73, and CICC matching Citi at HK$70. This brings the average target price to around HK$78.35, approaching the HK$80 level. As of October 20, 2025, all 8 analysts covering CaoCao Inc. have given a “Strong Buy” recommendation, with the highest target price at HK$103.17 and an average of HK$91.19, reflecting a strong market consensus on its growth prospects.
The institutions widely believe that, leveraging Geely Group’s full-chain support in manufacturing, intelligent driving, and energy systems, CaoCao Inc. has built an integrated competitive barrier through its “intelligent purpose-built vehicles + intelligent driving technology + intelligent operation” model. This equips the company with comprehensive capabilities for low-cost, high-efficiency, and high-quality service, systematically advancing the realization of a new intelligent mobility ecosystem.
Regarding its core business, as the only leading ride-hailing platform with an automotive manufacturing background, CaoCao Inc. has established a highly sticky and strong-brand operational system through its differentiated “purpose-built vehicles + Battery Swap + Aggregation Platform” model. It continues to optimize its unit economics and enhance driver earnings.
In the Robotaxi (autonomous ride-hailing service) field, the company has a clear strategy and roadmap. Having launched pilot programs in cities , including Suzhou and Hangzhou in 2025, it is actively accumulating operational data and system capabilities. The company plans to launch an L4-level purpose-built vehicle by the end of 2026, achieving integrated control across the entire chain from R&D and manufacturing to operation and dispatch. Both China Securities and Huatai Securities pointed out that the Robotaxi business is expected to become the company’s “second growth curve” and help it establish a first-mover advantage in the commercialization of intelligent driving.
Simultaneously, CaoCao Inc. is accelerating its “ Space-Air-Ground Integrated” strategy. In July 2025, the company partnered with Geely’s subsidiary Geespace, becoming the world’s first Robotaxi platform to deploy low orbit satellite communication and high-precision positioning technology at scale. In September of the same year, it collaborated with Aerofugia to announce a low-altitude mobility strategy, further enhancing its three-dimensional mobility ecosystem.
In a recent speech, Li Shufu, Chairman of Geely Holding Group, emphasized that CaoCao Inc. would serve as the most crucial commercialization vehicle for Robotaxi, and was committed to building a globally leading technology-powered mobility platform. It is reported that the company is advancing the deployment of its second-generation Robotaxi vehicles and accelerating the development of its autonomous driving platform.
Citi believes that, despite ongoing industry competition and macroeconomic challenges, the mobility services sector is entering a more attractive development phase: structural demand is strengthening, mobility penetration and order frequency continue to rise, and supply-side resources remain ample. As Robotaxi deployment gradually scales, the synergy between CaoCao and Geely will build barriers in terms of cost optimization and experience enhancement, with the overall situation presenting “opportunities outweigh threats”.
In summary, leveraging its automotive manufacturing background, intelligent technology portfolio, and platform operational capabilities, CaoCao Inc. is establishing itself as a leading and technologically advanced benchmark in China’s evolution toward intelligent and global shared mobility.