李书福又一个IPO，190亿

Core Viewpoint - The article discusses the IPO of Cao Cao Mobility, highlighting its rapid growth and strategic positioning in the ride-hailing market, as well as its future plans for autonomous driving services [1][6]. Company Overview - Cao Cao Mobility, established in 2015, emerged from Geely Group and has quickly become a unicorn, ranking among the top three ride-hailing platforms in China since 2021 [1][7]. - The company went public on June 25, 2023, with an IPO price of HKD 41.94 per share, resulting in a market capitalization of HKD 19 billion [1]. Financial Performance - Cao Cao Mobility's revenue has increased significantly, with figures of RMB 7.63 billion in 2022, RMB 10.67 billion in 2023, and projected RMB 14.66 billion in 2024 [8]. - The net losses for the same years were RMB 2.01 billion, RMB 1.98 billion, and an expected RMB 1.25 billion, indicating a trend of decreasing losses [8]. Market Position - According to a report by Frost & Sullivan, Cao Cao Mobility is projected to become the second-largest ride-hailing platform in China by 2024, expanding its operations to 136 cities [7][9]. - The company has seen a substantial increase in order volume, with 3.83 billion orders in 2021, 4.48 billion in 2022, and 5.98 billion in 2023 [7]. Strategic Initiatives - Under the leadership of CEO Gong Xin, the company has launched customized vehicles and a new strategic framework called N³, focusing on new cars, new power, and a new ecosystem [5][6]. - The company is also venturing into autonomous driving, with plans to launch L4-level Robotaxi models by the end of 2026 [6]. Investment and Funding - Since its inception, Cao Cao Mobility has completed three rounds of financing, including a USD 100 million Series A round in 2017 and an RMB 1.8 billion Series B round in 2021, with a pre-IPO valuation reaching RMB 17 billion [11]. - The company has attracted significant venture capital and private equity interest, benefiting from its association with Geely [10][11]. Industry Context - Suzhou, where Cao Cao Mobility is headquartered, has developed into a hub for intelligent vehicle networking, with over 600 related enterprises and a market size exceeding RMB 600 billion [13][14]. - The region's focus on smart automotive technology positions it as a leader in the emerging industry landscape [14].