CAOCAO INC's stock soared 5.08% during intraday trading on Wednesday, reflecting strong investor sentiment following a significant corporate development.

The surge comes after the company announced it has received regulatory approval to conduct road tests for fully driverless smart connected vehicles in Hangzhou, making it the first company in the city authorized for such testing. This milestone represents a major breakthrough in CAOCAO INC's Robotaxi technological capabilities and signals the beginning of a new phase of unmanned operations.

The approval accelerates the company's transformation toward Robotaxi services and strengthens its position as one of the few technology-driven mobility platforms globally with all essential elements for Robotaxi deployment. With plans to expand services to more cities across China and explore international markets, this development has likely fueled investor optimism about the company's future growth prospects.