北京商报讯(记者魏蔚)8月27日，根据曹操出行发布的2025年上半年财报，营收94.56亿元，同比增长 53.5%，经调整净亏损3.3亿元，同比收窄34%。财报显示，曹操出行的营收来自于出行服务、车辆销 售、车辆租赁、其他四部分，其中出行服务贡献了86亿元的营收，车辆销售、车辆租赁业务营收分别是 7.44亿元和1.04亿元，其他营收843.4万元。 ...

Core Viewpoint - The ride-hailing platform Cao Cao Mobility was listed on the Hong Kong Stock Exchange on June 25, 2023, but experienced a significant drop in stock price, falling over 10% on its first day of trading [2]. Financial Performance - Cao Cao Mobility's revenue from 2022 to 2024 is projected to grow from 7.63 billion RMB to 14.66 billion RMB, maintaining a growth trend [3][4]. - Despite the revenue growth, the company is still operating at a loss, with losses of approximately 2.01 billion RMB, 1.98 billion RMB, and 1.25 billion RMB for the years 2022, 2023, and 2024 respectively [3][4]. Market Position - As of 2024, Cao Cao Mobility is expected to have a market share of 5.4% in the ride-hailing industry [2]. - The company's Gross Transaction Value (GTV) is projected to increase from 12.2 billion RMB in 2023 to 17 billion RMB in 2024, reflecting a year-on-year growth of 38.8% [2]. Dependency on Aggregation Platforms - Cao Cao Mobility has a high dependency on aggregation platforms, with orders from these platforms accounting for 49.9%, 73.2%, and 85.4% of GTV from 2022 to 2024 [2]. Future Developments - The company plans to launch a Robotaxi service in Suzhou and Hangzhou by February 28, 2025, marking a significant milestone for the commercialization of autonomous driving services [4]. - Cao Cao Mobility is collaborating with Geely Group to develop a custom vehicle specifically for Robotaxi services, including an L4 level Robotaxi expected to be launched by the end of 2026 [5].

Group 1 - The core point of the news is that Cao Cao Mobility has passed the listing hearing at the Hong Kong Stock Exchange, marking a significant step towards its IPO [1] - Cao Cao Mobility, established in 2015 and incubated by Geely Group, has become one of the largest ride-hailing platforms in China, ranking second in market share as of 2024 with a GTV of 5.4% [1][2] - The company has experienced substantial revenue growth, with projected revenues of 76.31 billion yuan in 2022, 106.68 billion yuan in 2023, and 146.57 billion yuan in 2024, reflecting growth rates of 28.47% and 37.39% for 2023 and 2024 respectively [2] Group 2 - The revenue sources for Cao Cao Mobility primarily include ride-hailing services, vehicle sales, and vehicle leasing, with ride-hailing services accounting for over 90% of total revenue in recent years [2] - Vehicle sales have shown significant growth, increasing from 32.18 million yuan in 2022 to 867 million yuan in 2024, with the revenue share rising from 0.4% to 5.9% [2] - The company is under the control of Li Shufu, who holds 83.9% of the shares through Ugo Investment Limited, and has significant voting power in company decisions [3]

Core Insights - Li Auto reported a revenue of 25.9 billion RMB for the first quarter, showing a slight year-on-year increase of 1.1% compared to 25.6 billion RMB in the same period last year, but a significant quarter-on-quarter decrease of 41.4% from the previous quarter's revenue of 44.3 billion RMB, which was below market expectations of 25.1 billion RMB [1] Financial Performance - Vehicle sales revenue for the first quarter was approximately 24.25 billion RMB, while other sales and services contributed around 1.38 billion RMB, leading to a total revenue of 25.63 billion RMB [2] - The total cost of sales was approximately 20.35 billion RMB, resulting in a gross profit of about 5.28 billion RMB [2] - Operating expenses totaled around 5.87 billion RMB, leading to an operating loss of approximately 584.9 million RMB [2] - Net profit attributable to Li Auto's ordinary shareholders was approximately 592.6 million RMB for the quarter [2] Earnings Per Share - Basic earnings per American Depositary Share (ADS) was reported at 0.60 RMB, while diluted earnings per ADS was 0.56 RMB [2]