Core Viewpoint - Citigroup's research report indicates that Cao Cao Travel aims to establish a comprehensive travel and business travel technology platform by acquiring Yao Travel and Geely Business Travel, targeting both individual and corporate clients [1] Group 1: Business Strategy - The acquisition strategy is focused on enhancing services for corporate clients and high-end users, which is expected to improve Cao Cao Travel's overall ARPU (Average Revenue Per User) and profit margins [1] - Targeting corporate and high-end users may lead to higher customer loyalty and stickiness, benefiting the platform's long-term sustainability [1] Group 2: Market Impact - The report suggests that the new platform could create cross-selling synergies for the company's existing travel business, potentially increasing overall revenue [1] - Citigroup maintains a "Buy" rating for the company and sets a target price of 70 HKD [1]
大行评级｜花旗：维持曹操出行“买入”评级 收购事项可带来协同效应