Core Insights - Careem, a subsidiary of Uber, will suspend its ride-hailing services in Pakistan on July 18 due to challenging macroeconomic conditions, increasing competition, and global capital allocation issues [1] Company Summary - Mudassir Sheikha, the co-founder and CEO of Careem, announced the suspension of services in a statement highlighting the difficulties faced by the company in the current economic environment [1]

针对"女乘客曝光遭T3网约车司机猥亵"一事，6月18日，T3出行有关负责人回应南都记者称，平台接到投诉后第一时间启动安全专项工作组，同时配合警 方核实调查，对司机进行永久封禁处理。"涉事司机已被警方行政拘留5日，平台跟哈尔滨交通部门提了诉求，希望该司机在网约车行业被封号。目前我们 仍在积极与乘客协商补偿金额。" （文章来源：南方都市报） 女乘客发布的涉事车辆图片。 该负责人告诉南都记者，6月12日14时18分，T3出行在接到女乘客投诉后，第一时间启动安全专项工作组，并于当日与女乘客建立了沟通渠道，同时配合 警方开展事件的核实与调查。平台当日对司机进行了永久封禁处理，并就司机的行为对女乘客致以深深歉意，对给乘客带来的伤害积极沟通补偿方案。当 晚在双方当面签署谅解协议的现场，女乘客方面再次反悔3000元的诉求，要求提升补偿额度。目前平台仍在与女乘客协商沟通。 此外，上述负责人还表示，"涉事司机已被警方行政拘留5日，平台跟哈尔滨交通部门提了诉求，希望该司机在网约车行业被封号。网络上关于女乘客与司 机同住一个小区的信息，平台暂时无法核实。T3出行基于对用户隐私的保护，司乘联系的号码都是虚拟号且仅24小时内有效。" 南 ...

Core Viewpoint - Caocao Travel, established in 2015 and headquartered in Suzhou, is a key strategic business of Geely Holding Group focused on the "new energy vehicle sharing ecosystem" [1]. The company aims to raise funds primarily for autonomous driving research, debt repayment, market expansion, and vehicle business upgrades [1]. Group 1: IPO Information - The IPO is scheduled from June 17 to June 20, with the listing date on June 25 [2]. - The total fundraising scale is 44,178,600 shares, with approximately 90% allocated for international offerings and 10% for public offerings [2]. - The share price is set at HKD 41.94, with a market capitalization of HKD 22.823 billion [2]. Group 2: Financial Performance - The company's Gross Transaction Value (GTV) for the reporting period is projected to be CNY 89 billion, CNY 122 billion, and CNY 170 billion, with a year-on-year growth of 38.8% in 2024, making it the second-largest ride-hailing platform in China with a market share of 5.4% [5][19]. - Revenue for the years 2022 to 2024 is reported as CNY 76.3 billion, CNY 106.7 billion, and CNY 146.6 billion, with ride-hailing services contributing 92.6% in 2024 [6][7]. - The company has experienced a narrowing of losses, with net profits of CNY -20.1 billion, CNY -19.8 billion, and CNY -12.5 billion from 2022 to 2024 [7]. Group 3: Market Expansion and Strategy - The company plans to expand to 200 new cities within the year, aiming to create a "national + regionally dense" network by 2025 [8]. - Caocao Travel ranks first in user recognition in third-party surveys, particularly in first and second-tier cities, with market shares of 7.7% and 7.5% respectively [9]. Group 4: Competitive Landscape and Industry Trends - The ride-hailing market in China is highly concentrated, with Didi holding a dominant 70.4% market share, while Caocao Travel competes for the remaining market [19]. - The shared mobility penetration rate in China is currently at 4.3%, with a projected compound annual growth rate of 17% from 2025 to 2029 [18]. Group 5: Business Model and Competitive Advantages - Caocao Travel operates a heavy asset model, managing a fleet of 34,000 customized vehicles, which provides a cost advantage with total cost of ownership (TCO) significantly lower than the industry average [10][11]. - The company benefits from the Geely ecosystem, leveraging shared resources such as supply chains and R&D teams, enhancing brand trust and user recognition [12]. - The accumulation of operational data from its fleet aids in vehicle design and optimization of energy supply and autonomous driving algorithms [13].

环球市场动态 中 东 战 局 持 续 发 酵 中 美 关 系 延 续 稳 态 股 票 A 股周二下滑，脑机接口板块大爆 发；港股走弱，新消费、医药股大 幅下跌；欧股下挫，市场担忧美国 对以伊冲突的直接介入；美股三大 指数齐跌，华尔街担忧中东局势升 级，美国经济数据疲软业令市场承 压。 外 汇 / 商 品 中东局势升级重燃供应担忧，周二 国际油价升超 4%至近五个月高 点；金价震荡微跌，伦敦期铜走低； 美联储决策前夕美元上涨，英镑领 跌 G-10 货币。 固 定 收 益 美国国债上涨，中东局势升级提振 避险需求。美债收益率盘中短暂上 涨，收盘下跌，曲线趋平。亚洲债 券市场卖盘涌现。中国投资级债券 利差走宽 1-3 个基点。 产品及投资方案部 注：bp/bps=基点；pt/pts=百分点 中信证券财富管理 (香港) 免责声明请参考封底 2025 年 6 月 18 日 123 ▪ 我们判断，6 月下半月市场面临的外部地缘政治环境是：中美关系将延续稳态，关注中东地缘扰动。关于中美 关系，本次伦敦会谈更多用于解决双方面临的短期、急迫且可逆的问题，关税或并非会谈重点，但对市场而言， 日内瓦会谈以来的风险偏好缓和窗口或将延 ...

"稳就业"不只是实现"充分就业"，还要实现"高质量就业"；也就是说，需要兼顾就业的总量与结构、数量与质量，全面提升劳动者的获得感、幸福感和安全 感。 4月底的中央政治局会议提出，要"着力稳就业、稳企业、稳市场、稳预期，以高质量发展的确定性应对外部环境急剧变化的不确定性"，把"稳就业"排在"四 稳"之首，反映出中央对就业问题的高度重视。当前，在复杂多变的国内外经济、社会、科技与地缘政治环境下，"稳就业"具有更丰富的内涵。二十届三中 全会提出，要"完善就业优先政策，健全高质量充分就业促进机制"。这意味着，"稳就业"不只是实现"充分就业"，还要实现"高质量就业"；也就是说，需要 兼顾就业的总量与结构、数量与质量，全面提升劳动者的获得感、幸福感和安全感。因此，有必要理解"稳就业"的多维内涵，有针对性地综合施策，快速有 效地落实中央的"稳就业"部署。 多维度理解"稳就业"的内涵 在新形势下，"稳就业"应包括以下内涵。一是稳就业数量，确保实现充分就业；二是稳就业结构，确保各类劳动者群体都能实现或接近实现充分就业；三是 稳就业质量，确保劳动者的收入水平不显著下降，保障劳动者的权益不受侵犯，提升就业的获得感和幸福感；四是稳就 ...

Group 1 - JD.com announced its entry into the liquor and travel industry, with plans to develop a new channel for takeout and dining services [4][5] - JD.com has been actively expanding its diversified business layout, including a recent recruitment drive targeting experienced personnel from leading online travel agencies [4] - The company previously attempted to enter the travel sector in 2011 but did not prioritize it due to the competitive e-commerce landscape at that time [5] Group 2 - The actor from the show "Anjia" criticized Xiaohongshu's increasingly stringent content review mechanism, suggesting it could lead to a decline in user engagement on the platform [7][8] - Xiaohongshu's content review process has been described as opaque and inefficient, causing frustration among users and potentially driving them away [8] Group 3 - Zontai Auto is facing delisting risks due to a lack of operational funds, having only completed the shipment of 14 vehicles in the first quarter of 2025, resulting in a loss of 1.03 billion yuan [16] - The company has been struggling with continuous losses for six years, with a reported sales drop of 98.74% last year [16] Group 4 - Meituan's CEO Wang Xing sold 573,700 shares of Li Auto, cashing out over 600 million HKD, marking his second consecutive reduction in holdings this year [12] - Li Auto's Q1 2025 revenue was reported at 25.93 billion yuan, showing a year-on-year growth of 1.1% but a quarter-on-quarter decline of 41.4% [12] Group 5 - OpenAI secured a $2 billion contract with the U.S. Department of Defense to develop advanced AI capabilities for national security [30][31] - This contract is part of a broader trend of increasing government investment in AI technologies for defense applications [30] Group 6 - Tesla's Model 3 was involved in an incident where it got stuck on train tracks while in "autopilot mode," raising concerns about the safety of its autonomous driving features [34] - The incident highlights ongoing issues with Tesla's Full Self-Driving (FSD) system, which still requires driver supervision despite being marketed as fully autonomous [34]

Group 1 - The core viewpoint of the article is that Cao Cao Mobility is accelerating its IPO process, planning to list on the Hong Kong Stock Exchange on June 25, with a target to raise approximately HKD 18.53 billion (around RMB 1.7 billion) [2] - The company plans to issue a total of 44.18 million shares globally, with 4.42 million shares available for Hong Kong and 39.76 million shares for international investors, at a price of HKD 41.94 per share, leading to a valuation of approximately HKD 22.82 billion (around RMB 20.8 billion) [2] - Cao Cao Mobility has secured six cornerstone investors, including Mercedes-Benz and others, who will collectively subscribe to 22.64 million shares, amounting to about HKD 9.52 billion [2] Group 2 - As of the end of 2024, Cao Cao Mobility's ride-hailing business will expand to 136 cities, with a revenue of RMB 14.7 billion, reflecting a year-on-year growth of 37.4%, and an increase in gross margin from 5.8% in 2023 to 8.1% [3] - The company has a differentiated advantage with its customized vehicle model, operating a fleet of over 34,000 vehicles in 31 cities, and has reduced the total cost of ownership (TCO) of its vehicles by 33% compared to ordinary electric vehicles [3] - Cao Cao Mobility faces challenges such as over-reliance on aggregation platforms, with the proportion of orders from these platforms increasing from 51.4% in 2022 to 85.7% in 2024, which poses risks if these platforms change their traffic distribution strategies or increase commission rates [3] Group 3 - The company is focusing on the Robotaxi sector, having launched the Cao Cao Intelligent Driving platform in February, which utilizes Geely's Robotaxi solution for demonstration operations in Suzhou and Hangzhou [4] - According to Goldman Sachs, the Chinese Robotaxi market is expected to grow from USD 54 million in 2025 to USD 47 billion by 2035, representing a staggering increase of 757 times over ten years [5] - The funds raised from the IPO will primarily be used to improve vehicle service solutions, enhance service quality, develop customized vehicles, invest in autonomous driving technology, and expand geographical coverage [5]

Core Viewpoint - Caocao Travel plans to launch an IPO on June 25, 2023, on the Hong Kong Stock Exchange, aiming to raise approximately HKD 18.53 billion with a share price of HKD 41.94, valuing the company at HKD 228.23 billion [1] Group 1: Business Overview - Caocao Travel's business includes ride-hailing services, vehicle leasing, vehicle sales, and others, with ride-hailing services projected to generate RMB 135.67 billion in 2024, accounting for 92.6% of total revenue [2] - The company has deployed over 34,000 customized vehicles across 31 cities in China, with a significant portion of its orders coming from its customized vehicle fleet [4] Group 2: Financial Performance - Revenue for Caocao Travel has shown growth from RMB 7.63 billion in 2022 to an expected RMB 14.66 billion in 2024, with operating losses decreasing from RMB 18.66 billion in 2022 to RMB 8 billion in 2024 [7][8] - The company has a total debt of RMB 112.83 billion as of 2024, with net current liabilities of RMB 81.46 billion [5] Group 3: Market Position and Strategy - Caocao Travel's order volume has increased significantly, with 5.98 billion orders expected in 2024, but a large portion of these orders is still reliant on aggregation platforms [6] - The company aims to enhance its profitability through scale effects from customized vehicles and service solutions, focusing on lifecycle management from vehicle design to operation [9] Group 4: Future Plans and Innovations - The funds raised from the IPO will be used for R&D, service quality improvement, and the expansion of customized vehicles and geographic coverage [10] - Caocao Travel plans to launch a dedicated L4 Robotaxi model by the end of 2026, aiming to create a comprehensive automated operation system [12]

新华财经上海6月17日电（记者王鹤）曹操出行17日发布公告启动招股，计划于6月25日在港交所主板挂 牌上市，股份代号为02643。华泰国际、农银国际及广发证券（香港）为此次发行上市的联席保荐人。 公告显示，曹操出行计划全球发售4417.86万股股份，其中香港发售股份为441.79万股，国际发售股份为 3976.07万股，每股发售价为41.94港元，预计募资18.53亿港元。按照每股发售价计算，曹操出行估值约 228.23亿港元。 曹操出行表示，此次募资将主要用于改进车服解决方案和改善服务质量、提升并推出定制车、提升技术 及投资自动驾驶、扩大地理覆盖范围等。 曹操出行已于本次IPO发行中引入6名基石投资者，包括梅赛德斯-奔驰、未来资产证券（香港）、无极 资本、国轩高科（香港）、亿纬亚洲和速腾聚创，这6位基石投资者将合计认购2264.24万股，约9.52亿 港元。 据悉，曹操出行创立于2015年，是吉利控股集团布局"新能源汽车共享生态"的战略性投资业务。据咨询 公司弗若斯特沙利文报告，按GTV（总交易额）计算，曹操出行自2021年起连续位列国内网约车平台 规模前三，并于2024年跃居行业第二。 招股书显示，截至2 ...

Core Viewpoint - Cao Cao Mobility is launching an IPO in Hong Kong, aiming to raise funds for investments in autonomous driving and to repay part of its bank loans [6] Group 1: IPO Details - The company plans to issue a total of 44.18 million shares globally, with 4.42 million shares available for public sale in Hong Kong, accounting for 10% of the total [1] - The offering price is set at HKD 41.94 per share, with an entry fee of approximately HKD 4,236.3 for a board lot of 100 shares [1] - The IPO period runs from today (17th) until this Friday (20th), with the expected listing date on June 25 [1] - Six cornerstone investors have committed to purchasing shares worth nearly USD 952 million, including notable companies such as Mercedes-Benz and others [1] Group 2: Business Performance - Established in 2015, Cao Cao Mobility is a strategic investment of Geely Holding Group in the "new energy vehicle sharing ecosystem" [3] - The business has expanded to cover 136 cities by the end of 2024, with plans to enter 85 new cities [3] - The total Gross Transaction Value (GTV) for 2023 and 2024 is projected to be CNY 12.2 billion and CNY 17 billion, reflecting growth rates of 37.5% and 38.8% respectively compared to previous years [3] - In Q1 of this year, the total GTV reached CNY 4.8 billion, marking a 54.9% increase year-on-year [3] - The number of active vehicles and drivers has increased significantly, with 59,200 active vehicles and 59,100 active drivers expected by October 2024 [3] Group 3: Financial Performance - Despite a reduction in net losses, the company has not yet achieved profitability, with net losses of CNY 2.007 billion, CNY 1.981 billion, and CNY 1.246 billion from 2022 to 2024 [4] - The cumulative loss over the past three years amounts to CNY 5.2 billion, indicating a loss of approximately CNY 2.08 per order for 2024 [4][5]