BRIEF: CaoCao’s loss narrows in first half of 2025

2643.HK

Ride-hailing platform CaoCao Inc. (2643.HK) said on Tuesday its revenue jumped 53.5% year-on-year to 9.46 billion yuan ($1.32 billion) in the first half of 2025, while its loss narrowed nearly 40% to 468 million yuan. Its gross margin for the period rose 1.4 percentage points year-on-year to 8.4%.

The company’s operational metrics all improved during the six-month period. Its order volume reached nearly 380 million, up 49% year-on-year, with daily orders averaging 2.11 million. Average monthly active users reached 38.1 million, up 57.4%, while average monthly active drivers totaled 554,000, up 53.5%.

The company said it plans to expand coverage of its robotaxi service to more cities nationwide. At the end of June, it had accumulated over 15,000 kilometers of autonomous driving tests in Suzhou and Hangzhou.

Shares of CaoCao opened up 2.8% at HK$83.50 on Wednesday. The stock is up over 90% from its listing price in June.

By Lau Chi Hang

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