CAOCAO INC has delivered a robust first-half performance, with total revenue exceeding RMB 10 billion, driven by steady growth in its core mobility services and an expanding operational footprint.
According to the interim results released on August 27, the company's mobility service revenue reached RMB 9.8 billion in the first half of 2026, marking a 13.9% year-on-year increase. Total revenue climbed 9.0% to RMB 10.3 billion. As of June 30, services were available across 215 cities in China, with 20 new cities added during the period. The platform averaged 44.6 million monthly active users, up 17.1% year-on-year, while monthly active drivers surged 36.8% to 758,000, underscoring continued business expansion.
Profitability also improved, with the gross margin rising to 9.0% from 8.7% in the same period last year. This enhancement is attributed to economies of scale from operational expansion and heightened brand recognition, as well as the continuous application of AI-driven algorithms by the "Caocao Brain" transaction engine, which has effectively boosted supply-demand matching efficiency.
In June 2026, the company unveiled its RoboX strategy, signaling a comprehensive AI transformation aimed at establishing itself as a leading global physical AI mobility platform. Serving as the most significant commercialization vehicle for Geely Holding Group's RoboX strategy, the company is accelerating the development of an autonomous driving service ecosystem, including Robotaxi and Robovan, built on an integrated model of "intelligent custom vehicles, intelligent driving technology, and intelligent operations." This approach extends its mature capabilities in vehicle asset management, dispatch, safety, and user services to broader applications.
By the end of the reporting period, the company had deployed 140 second-generation Robotaxi vehicles, with plans to roll out additional units domestically and internationally in the second half of the year. It is also exploring an integrated mobility model combining Robotaxi with low-altitude aircraft for a seamless air-ground service. Meanwhile, development continues on the third-generation vehicle, "Eva Cab," purpose-built for Robotaxi services, which was publicly unveiled in the first half and is slated for mass production in 2027.
Expanding its AI interaction channels, the company joined the Doubao AI ecosystem as one of the first mobility industry partners. In June 2026, it launched a pilot AI-based ride-hailing service in collaboration with Doubao. On the international front, Hong Kong and the UAE are designated as initial key markets. Plans include establishing a joint venture with Octopus in Hong Kong to advance tech-driven mobility services, while a strategic partnership was signed with Abu Dhabi-based partner K2 in June 2026 to jointly deploy and operate Robotaxi projects.