On December 30, CaoCao Inc. (2643.HK) announced two major strategic acquisitions, agreeing to acquire 100% of Weixing Technology, the operator of StarRides, and proposing to acquire 100% of Zhejiang Geely Business. Upon completion of the respective transactions, Weixing Technology and Geely Business will become wholly owned subsidiaries of CaoCao Inc. The acquisitions are expected to broaden CaoCao’s product lineup and support its push to build a one-stop, tech-driven mobility platform.
CaoCao began serving corporate clients in 2016 and, as of Dec. 31, 2024, had served more than 13,500 companies. StarRides offers established services spanning corporate meetings and events, day-to-day corporate transportation and premium ride-hailing, while Geely Business provides end-to-end corporate travel management along with full-service meeting and event solutions. Once integrated, StarRides and Geely Business will draw on CaoCao’s platform scale to continue supporting existing clients. CaoCao said it expects significant synergies in its enterprise segment, creating an integrated offering that spans consumer and corporate demand, standard and premium services, and both mobility and corporate travel—giving corporate clients a single provider for transportation and business travel services.
The acquisitions are also expected to bolster CaoCao’s international expansion. StarRides has extended its service network to 12 international cities, including Paris, Tokyo and Seoul. Geely Business also serves a number of overseas corporate clients, and the acquisition is expected to speed up CaoCao’s global expansion.
CaoCao Inc. stands as the key platform for Geely's Robotaxi commercialization and aims to build a globally leading, technology-driven mobility platform. The integration will allow CaoCao to consolidate internal resources and tighten coordination across its business, reinforcing its role as Geely’s core platform for mobility services and helping unlock growth in the business travel services market.
“Acquiring Weixing Technology and Geely Business is a key step in building our one-stop, tech-driven mobility platform,” said Gong Xin, CEO of CaoCao Inc. “Once the transactions close, we will connect the entire service journey—from daily commutes and executive transport to business travel management. By bringing together StarRides’ global premium service network and Geely Business’s intelligent travel solutions, we will deliver a seamless, high-quality experience backed by consistent service standards. This will strengthen our competitiveness in corporate mobility and business travel, while supporting CaoCao’s long-term growth and our ambition to create greater value in the global intelligent mobility sector.”
