CaoCao H1 Revenue Tops RMB10 Billion as RoboX Gains Momentum, with Robotaxi Fleet Deployment Planned in Hong Kong and the UAE

HangZhou, China, Aug. 28, 2026 (GLOBE NEWSWIRE) -- On August 27, CaoCao Inc. (02643.HK) (“CaoCao” or the “Company”) announced its interim results for the six months ended June 30, 2026. During the reporting period, the Company maintained steady growth in its ride-hailing business, further improved profitability, and accelerated its transformation through its RoboX and AI-native strategies.

In the first half of 2026, CaoCao’s mobility service revenue reached RMB9.8 billion, up 13.9% year on year, while total revenue rose 9.0% to RMB10.3 billion. As of June 30, the Company’s services covered 215 cities across China, with 20 new cities added during the first half. Average monthly active users increased 17.1% year on year to 44.6 million, while average monthly active drivers rose 36.8% to 758,000, as the business continued to scale.

Profitability further improved. Gross margin increased from 8.7% in the same period last year to 9.0% in the first half of 2026, mainly driven by economies of scale from expanding business operations and increasing brand recognition. Meanwhile, the Company’s transaction engine, CaoCao Brain, continued to optimize its algorithms using AI technologies, effectively improving supply-demand matching efficiency.

In June 2026, CaoCao launched its RoboX Strategy and announced a comprehensive AI transformation aimed at building a globally leading physical AI mobility technology platform. As Geely Holding Group’s primary commercialization platform for RoboX, CaoCao is accelerating the development of autonomous mobility services across Robotaxi, Robovan and other applications, built around three integrated pillars: intelligent purpose-built vehicles, intelligent driving technologies and intelligent operations. The Company is also extending its mature capabilities in vehicle asset operations, mobility dispatch, safety management and user services to a broader range of applications.

As of the end of the reporting period, CaoCao had deployed 140 second-generation Robotaxi vehicles. The Company plans to deploy more Robotaxi vehicles both domestically and overseas in the second half of the year, while actively exploring an innovative integrated air-ground smart mobility model combining Robotaxi capabilities with low-altitude aircraft. CaoCao will also continue to work closely with Geely Group and its business partners to accelerate the development of Eva Cab, its third-generation vehicle designed specifically for Robotaxi services. The model made its public debut in the first half of the year and is scheduled for mass production in 2027. In addition, CaoCao is expanding its AI-powered entry points. As one of the first mobility industry partners to join the Doubao AI ecosystem, the Company jointly developed an AI ride-hailing service with Doubao and launched a limited pilot in June 2026.

Internationally, CaoCao has identified Hong Kong and the UAE as its initial priority markets. In Hong Kong, the Company plans to establish a joint venture with Octopus to advance technology-enabled mobility services. Meanwhile, CaoCao signed a strategic cooperation agreement with K2, a local partner in Abu Dhabi, in June 2026 to jointly advance the deployment and operation of its Robotaxi project.

Looking ahead, CaoCao will continue to build on its ride-hailing business while accelerating the implementation of its RoboX and AI-native strategies. At the same time, the Company will further strengthen strategic synergies with Geely Holding Group and its business partners to achieve profitable growth.

Jing Liu   
Jing.Liu3@caocaoglobal.com