Core Viewpoint - Cao Cao Mobility is launching an IPO in Hong Kong, aiming to raise funds for investments in autonomous driving and to repay part of its bank loans [6] Group 1: IPO Details - The company plans to issue a total of 44.18 million shares globally, with 4.42 million shares available for public sale in Hong Kong, accounting for 10% of the total [1] - The offering price is set at HKD 41.94 per share, with an entry fee of approximately HKD 4,236.3 for a board lot of 100 shares [1] - The IPO period runs from today (17th) until this Friday (20th), with the expected listing date on June 25 [1] - Six cornerstone investors have committed to purchasing shares worth nearly USD 952 million, including notable companies such as Mercedes-Benz and others [1] Group 2: Business Performance - Established in 2015, Cao Cao Mobility is a strategic investment of Geely Holding Group in the "new energy vehicle sharing ecosystem" [3] - The business has expanded to cover 136 cities by the end of 2024, with plans to enter 85 new cities [3] - The total Gross Transaction Value (GTV) for 2023 and 2024 is projected to be CNY 12.2 billion and CNY 17 billion, reflecting growth rates of 37.5% and 38.8% respectively compared to previous years [3] - In Q1 of this year, the total GTV reached CNY 4.8 billion, marking a 54.9% increase year-on-year [3] - The number of active vehicles and drivers has increased significantly, with 59,200 active vehicles and 59,100 active drivers expected by October 2024 [3] Group 3: Financial Performance - Despite a reduction in net losses, the company has not yet achieved profitability, with net losses of CNY 2.007 billion, CNY 1.981 billion, and CNY 1.246 billion from 2022 to 2024 [4] - The cumulative loss over the past three years amounts to CNY 5.2 billion, indicating a loss of approximately CNY 2.08 per order for 2024 [4][5]
三年亏损超50亿的曹操出行今天在港IPO