Core Viewpoint - Caocao Travel, backed by Geely Group, is positioned as a leading ride-hailing platform with a stable market share, expected to maintain growth above industry average due to its cost advantages and differentiated services [1] Group 1: Company Overview - Caocao Travel is a ride-hailing platform empowered by Geely Group, with Geely's chairman holding a 77% stake, ensuring strong backing [1] - The company holds the second-largest market share in China, with a revenue CAGR of 39% projected from 2022 to 2024 [1] - The company plans to go public on the Hong Kong Stock Exchange in 2025, marking a new phase of expansion and technological upgrades [1] Group 2: Business Model and Competitive Advantage - Caocao Travel operates the largest customized ride-hailing fleet in China, leveraging Geely's manufacturing and service capabilities to create a differentiated competitive edge [2] - The customized vehicle ecosystem significantly reduces supply-side costs, leading to higher driver incomes, while a stable order volume attracts quality drivers [2] - The company primarily sources orders through a platform aggregation model, enhancing brand recognition and user loyalty through superior service [2] Group 3: Future Growth Potential - The company is accelerating penetration into lower-tier markets, planning to enter 27 new cities by mid-2025 through partnerships for customized vehicle sales [3] - There is significant potential for market share growth as the company deepens its presence in high-tier markets and expands into new lower-tier cities [3] - Profitability is expected to improve through further optimization of customized vehicle costs, enhanced user subsidy efficiency, and scale effects, positioning Caocao Travel favorably against industry leaders like Didi [3] Group 4: Autonomous Driving Initiatives - In February 2025, Caocao Travel will launch its autonomous driving platform, integrating Geely's Robotaxi solutions, transitioning from technology validation to operational scenarios [4] - The core advantage of the autonomous driving business lies in its unique "smart manufacturing + smart driving + smart operation" model [4] - The company aims to initiate commercial operations for unmanned driving by 2027, indicating strong potential in the Robotaxi sector [4]