Core Viewpoint - Caocao Travel announced two strategic acquisitions: 100% stake in Yao Travel Technology Co., Ltd. and a proposed acquisition of 100% stake in Zhejiang Geely Business Services Co., Ltd. [1] Group 1: Strategic Acquisitions - The acquisitions aim to build a comprehensive technology travel platform covering personal and corporate travel, standard and high-end services, integrating "travel + business travel" [1] - Citigroup maintains a "Buy" rating for Caocao Travel with a target price of 70 HKD, highlighting the potential for enhanced market competitiveness and ecosystem integration [1] Group 2: Market Expansion and Customer Base - Caocao Travel has served over 13,500 corporate clients since launching its corporate services in 2016, indicating a strong foothold in the corporate travel sector [2] - Yao Travel offers mature services in corporate meetings, daily transportation, and high-end ride-hailing, while Geely Business Services provides comprehensive travel solutions and event services [2] Group 3: Future Growth and Integration - The integration of Yao Travel and Geely Business Services is expected to leverage Caocao Travel's platform to enhance service quality for existing clients [2] - As a key commercial vehicle for Geely Holding Group's Robotaxi initiative, Caocao Travel aims to become a leading global technology travel platform, driving growth in the business travel market [2] - Following the expiration of the lock-up period for cornerstone investors and public offering shareholders, Caocao Travel's stock price has remained stable, with institutions like Citigroup optimistic about its long-term development [2]
花旗重申曹操出行“买入”评级，解禁后股价稳健，积极战略并购增强竞争力