Core Insights - The article highlights the dual forces of cost reduction and efficiency improvement, alongside the transformative potential of Robotaxi technology, which are igniting renewed enthusiasm in the capital markets for mobility companies [1][2]. Performance Growth - Major ride-hailing companies have reported significant growth in their financial performance. For instance, Didi's revenue for the first half of 2025 reached 109.67 billion yuan, a 9.7% increase from the previous year, with a second-quarter revenue of 56.4 billion yuan, up 10.88% year-on-year. Adjusted net profit for the second quarter was 3.069 billion yuan, a remarkable 108% increase from the previous year [3]. - Cao Cao Travel, the second-largest ride-hailing platform, achieved a revenue of 9.456 billion yuan in the first half of 2025, marking a 53.5% year-on-year growth. The company's gross margin improved by 1.4 percentage points to 8.4%, while adjusted net loss narrowed to 330 million yuan, significantly improving its loss ratio by 4.6 percentage points [5]. - Ruqi Travel, although smaller, reported a 61.7% increase in revenue to 1.676 billion yuan, with its ride-hailing service revenue growing by 86% [7]. Robotaxi Development - Robotaxi technology is seen as a catalyst for market excitement. Didi plans to launch 1,000 to 2,000 Robotaxi vehicles in collaboration with GAC by the end of 2026, with a long-term goal of deploying one million vehicles by 2030 [11][13]. - Cao Cao Travel has launched its autonomous driving platform and completed over 15,000 kilometers of testing by June 2025, with plans to introduce L4-level Robotaxi models by the end of next year [13][15]. - Ruqi Travel's Robotaxi orders surged by over 470% year-on-year, reflecting strong market demand [15]. Market Valuation and Investor Sentiment - The future valuation of mobility companies is increasingly tied to their growth potential, particularly in the Robotaxi sector, which is expected to significantly enhance growth expectations [17]. - Following strategic partnerships, such as the one between Pony.ai and Uber, stock prices have surged, indicating strong investor confidence in the Robotaxi market [17][19]. - The overall market sentiment is buoyed by positive financial performances and technological advancements in the Robotaxi space, with companies like Baidu and Pony.ai also reporting substantial growth in their Robotaxi operations [16][19]. Future Outlook - Goldman Sachs projects that by 2030, the number of operational Robotaxi vehicles in China could reach 500,000, supported by favorable policies and ongoing technological innovations [20]. - The article emphasizes the importance of continuous investment in research and development to optimize costs and enhance user experience in the Robotaxi sector [20][21].
业务和Robotaxi双推动，出行公司又成香饽饽了