Core Viewpoint - Caocao Mobility is set to become the largest shared mobility company on the Hong Kong Stock Exchange following its IPO, especially in light of Didi's inability to return to the market in the short term [1] Group 1: Financial Performance - Caocao Mobility's GTV (Gross Transaction Value) is projected to reach 17 billion yuan in 2024, marking a year-on-year increase of 38.8%, surpassing the 37.5% growth seen in 2023 [2] - The company is expected to handle nearly 600 million orders in 2024, a significant increase from 383 million orders in 2022 [2] - Revenue figures from 2022 to 2024 are as follows: 7.631 billion yuan, 10.668 billion yuan, and 14.657 billion yuan respectively, with the average order value rising from 23.2 yuan in 2022 to 28.3 yuan in 2024 [2] - The gross margin is expected to improve from -4.4% in 2022 to 8.1% in 2024, indicating a continuous enhancement in profitability [2] Group 2: Business Strategy - The company has successfully reduced its reliance on driver subsidies, with the percentage of driver income and subsidies relative to mobility service revenue decreasing from 84.2% in 2022 to 79% in 2024 [3] - Caocao Mobility's strategy includes expanding its business scale and increasing order density, which helps reduce driver idle time and ensures income stability [3] Group 3: Custom Vehicle Fleet - The company operates the largest custom vehicle fleet in the industry, with over 34,000 custom vehicles deployed across 31 cities in China by the end of 2024 [5] - The average TCO (Total Cost of Ownership) for Caocao's custom vehicles is significantly lower, with reductions of 36.4% compared to typical electric vehicles used in shared mobility [5] - The GTV from custom vehicles is expected to grow from 5.3% in 2022 to 25.1% in 2024, indicating a strong upward trend in this segment [5] Group 4: Vehicle Service Solutions - Caocao Mobility has established a network of 133 authorized maintenance shops to provide cost-effective after-sales services, which has led to a 25% reduction in average maintenance time and a 54% decrease in costs [6] - The company has developed a battery swap network with 378 stations across 26 cities, allowing for quick battery swaps that save drivers approximately 700 yuan in potential income each month [6] Group 5: Robotaxi Development - Caocao Mobility is focusing on the Robotaxi market, having created a closed-loop ecosystem integrating custom vehicles, autonomous driving technology, and a mobility platform [7] - The company has initiated pilot Robotaxi services in Suzhou and Hangzhou, with plans to expand to other cities like Guangzhou [8] - A portion of the funds raised from the IPO will be allocated to the Robotaxi project, indicating a commitment to this emerging market [8]
从定制车护城河到Robotaxi，曹操出行甩出网约车行业“王炸组合”