CAOCAO INC (02643) has announced its interim results for the first half of 2026, revealing solid business growth across its core operations. The company's Gross Transaction Value (GTV) climbed 13.6% from RMB 11.0 billion in the six months ended June 30, 2025, to RMB 12.4 billion in the corresponding period of 2026, while mobility service revenue advanced 13.9% to RMB 9.8 billion during the same timeframe.
Total revenue correspondingly rose by 9.0% year-on-year to RMB 10.3 billion for the first half of 2026, up from RMB 9.5 billion a year earlier. This performance was primarily attributed to refined operational strategies in existing cities, where the deployment of customized vehicles enabled the delivery of relatively standardized, high-quality services. Consequently, average monthly active users (MAU) grew 17.1% to 44.6 million in the first half of 2026, compared with 38.1 million in the prior-year period.
In a series of 11 quarterly surveys covering thousands of ride-hailing users nationwide, conducted from the fourth quarter of 2023 through the second quarter of 2026, CAOCAO INC was ranked first as the "Best Service Reputation" platform among leading shared mobility providers in China. These surveys, commissioned by the company and executed by independent third parties, underscore its relentless commitment to service excellence.
China's shared mobility market remains vast but underpenetrated, presenting substantial growth opportunities. CAOCAO INC continues to extend its service footprint into new cities, reaching 215 cities as of June 30, 2026, with 20 new cities added during the first half alone. Leveraging its strong reputation, brand awareness, and ongoing optimization of driver and fleet management, the company has significantly enhanced its capacity. Average monthly active drivers surged 36.8% to 758,000 in the first half of 2026, up from 554,000 in the same period last year.
While scaling steadily, the company has also improved its profitability. Gross margin expanded to 9.0% in the first half of 2026, up from 8.7% in the prior-year period, driven largely by economies of scale from expanded operations and heightened brand recognition. Additionally, the proprietary transaction engine "CaoCao Brain" continues to apply AI-driven algorithms to optimize driver dispatch efficiency and user subsidy allocation, effectively reducing promotional costs and further boosting profitability.
Looking ahead, CAOCAO INC is actively diversifying its user acquisition channels beyond its traditional standalone app, exploring multiple intelligent entry points. The company has partnered with the Doubao AI ecosystem as one of its first mobility-sector collaborators, initiating small-scale gray testing in June 2026. Bolstered by its competitive advantages, successful geographic expansion, strong Robotaxi momentum, and strategic relationship with Geely Group, the company remains committed to refining its growth strategy to achieve sustainable growth and enhanced profitability.