Core Viewpoint - Cao Cao Mobility (02643.HK) announced two strategic acquisitions, acquiring 100% of Weixing Technology Co., Ltd. (Yaochuxing) for 225 million yuan and Zhejiang Geely Business Services Co., Ltd. (Geely Business) for 65 million yuan, marking its first strategic acquisition since its listing on the Hong Kong Stock Exchange in June last year [1][2]. Group 1: Acquisitions Overview - The acquisitions will make Yaochuxing and Geely Business wholly-owned subsidiaries of Cao Cao Mobility, with their financial performance integrated into the company [1]. - The integration aims to create a comprehensive technology travel platform covering personal and corporate travel, standard and high-end services, and "travel + business travel" solutions [1][4]. Group 2: Business Operations and Financials - Weixing Technology primarily offers luxury travel services under the "StarRides" brand, including business chauffeur services and airport transfers, with a registered capital of 700 million yuan and a reported after-tax loss of 57.46 million yuan by the end of 2024 [2]. - Geely Business provides full-process business travel solutions and has a registered capital of 10 million yuan, reporting an after-tax profit of 23.3 million yuan by the end of 2024 [4]. - Cao Cao Mobility has served over 13,500 corporate clients since launching its corporate services in 2016, indicating a strong foothold in the corporate travel market [4]. Group 3: Strategic Benefits - The acquisitions are expected to enhance Cao Cao Mobility's high-end travel product line and attract a broader mid-to-high-end customer base, thereby increasing overall customer value and lifetime value [4][5]. - The company emphasizes that corporate services are a vital part of its business, characterized by stable demand and high average prices, which will help expand its corporate client base and improve operational efficiency [5]. - The international service network of Yaochuxing, which extends to 12 global cities, and Geely Business's overseas corporate clients will support Cao Cao Mobility's international expansion efforts [5]. Group 4: Financial Performance - In the first half of 2025, Cao Cao Mobility reported revenue of 9.456 billion yuan, a year-on-year increase of 53.5%, with a reduced net loss of 330 million yuan, down 34% year-on-year [6]. - The gross margin improved from 7% to 8.4%, indicating a positive trend in financial performance [6].
曹操出行上市后首次战略并购，2.9亿加码高端及商旅市场