Core Viewpoint - Caocao Travel plans to launch an IPO on June 25, 2023, on the Hong Kong Stock Exchange, aiming to raise approximately HKD 18.53 billion with a share price of HKD 41.94, valuing the company at HKD 228.23 billion [1] Group 1: Business Overview - Caocao Travel's business includes ride-hailing services, vehicle leasing, vehicle sales, and others, with ride-hailing services projected to generate RMB 135.67 billion in 2024, accounting for 92.6% of total revenue [2] - The company has deployed over 34,000 customized vehicles across 31 cities in China, with a significant portion of its orders coming from its customized vehicle fleet [4] Group 2: Financial Performance - Revenue for Caocao Travel has shown growth from RMB 7.63 billion in 2022 to an expected RMB 14.66 billion in 2024, with operating losses decreasing from RMB 18.66 billion in 2022 to RMB 8 billion in 2024 [7][8] - The company has a total debt of RMB 112.83 billion as of 2024, with net current liabilities of RMB 81.46 billion [5] Group 3: Market Position and Strategy - Caocao Travel's order volume has increased significantly, with 5.98 billion orders expected in 2024, but a large portion of these orders is still reliant on aggregation platforms [6] - The company aims to enhance its profitability through scale effects from customized vehicles and service solutions, focusing on lifecycle management from vehicle design to operation [9] Group 4: Future Plans and Innovations - The funds raised from the IPO will be used for R&D, service quality improvement, and the expansion of customized vehicles and geographic coverage [10] - Caocao Travel plans to launch a dedicated L4 Robotaxi model by the end of 2026, aiming to create a comprehensive automated operation system [12]
历经十年成网约车第二大平台，曹操出行启动招股