On August 27, CaoCao Mobility (02643.HK) released its interim results for the six months ended June 30, 2026. The report shows that in the first half of 2026, the company’s total revenue reached RMB10.3 billion, up 9.0% year on year, while mobility service revenue reached RMB9.8 billion, up 13.9% year on year. While its core ride-hailing business maintained growth, the RoboX strategy​ unveiled in June further clarified the company’s AI transformation direction, with Robotaxi becoming an important component of its future mobility technology portfolio. For China’s Robotaxi Market, a key focus of this results disclosure is how a company with a mature mobility platform connects its existing operational capabilities with its autonomous driving business.

In terms of operating scale, CaoCao Mobility’s core business continues to expand. As of June 30, 2026, its service network covered 215 cities across China, with 20 new cities added in the first half of the year. Average monthly active users reached 44.6 million, up 17.1% year on year, and average monthly active drivers reached 758,000, up 36.8% year on year. Over the same period, the company’s gross margin improved from 8.7% a year earlier to 9.0%, and its transaction engine, “CaoCao Brain,” continued to use AI technology to optimize supply-demand matching efficiency. This existing platform scale provides a relatively complete mobility scenario foundation for the company’s further advancement of AI and autonomous driving businesses.

The RoboX strategy​ launched in June marks an important milestone for CaoCao Mobility in building a physical AI mobility technology platform. The company is advancing business synergy around a trinity, full-factor closed-loop ecosystem of “intelligent purpose-built vehicles + intelligent driving technology + intelligent operations,” and further extending its existing capabilities—including vehicle asset operations, mobility dispatching, safety management, and user services—to autonomous driving services. Compared with approaches that advance Robotaxi products in isolation, this model places greater emphasis on the linkage among the platform, vehicles, and technology, and represents a practice worth watching when observing the commercialization pathways of China’s Robotaxi Market.

As of the end of the reporting period, CaoCao Mobility had deployed 140 second-generation Robotaxis, and plans to continue deploying more vehicles in domestic and overseas markets in the second half of 2026. At the same time, the company continues to advance development of its third-generation natively developed Robotaxi, Eva Cab. Unveiled in the first half of 2026, the model is China’s first natively developed purpose-built Robotaxi, adopting a no-front-passenger-seat, steering-wheel-free design, with mass production expected in 2027. Under current plans, the company aims to cumulatively deploy 100,000 Robotaxis by 2030, further expanding the vehicle foundation for autonomous mobility services.

Beyond the vehicles themselves, CaoCao Mobility is also exploring synergy among different transportation modes. The company has proposed a “ground-air-space integrated smart mobility” model combining Robotaxis with low-altitude aircraft, joined the Doubao AI ecosystem, jointly launched AI ride-hailing services with Doubao in June 2026, and in September became among the first to integrate with the Doubao mobile assistant, connecting mobility services with the on-device AI ecosystem to provide users with AI ride-hailing services.

Internationalization is also part of the RoboX strategy. CaoCao Mobility has designated Hong Kong, China and the United Arab Emirates as its first key overseas markets, planning to establish a joint venture with Octopus to jointly advance technology-enabled mobility services. In June 2026, the company also signed a strategic cooperation agreement with K2, a local partner in Abu Dhabi, to advance Robotaxi project deployment and operations. Meanwhile, the company continues to advance relevant cooperation with partners including May Mobility to explore autonomous mobility applications in overseas markets.

From this interim results release, it can be seen that CaoCao Mobility’s Robotaxi layout is not being advanced independently from its existing business system, but is built on capabilities including its ride-hailing platform, AI technology, vehicle development, and operational services. As the RoboX strategy​ continues to advance, commercialization competition in China’s Robotaxi Market​ will further extend across multiple dimensions—vehicle products, technology application, user access, and operational systems. By incorporating Robotaxi into its overall AI transformation framework, CaoCao Mobility is exploring a concrete pathway for extending a traditional mobility platform into an intelligent mobility technology platform.

From this interim results release, it can be seen that CaoCao Mobility’s Robotaxi layout is not being advanced independently from its existing business system, but is built on capabilities including its ride-hailing platform, AI technology, vehicle development, and operational services. As the RoboX strategy​ continues to advance, commercialization competition in China’s Robotaxi Market​ will further extend across multiple dimensions—vehicle products, technology application, user access, and operational systems. By incorporating Robotaxi into its overall AI transformation framework, CaoCao Mobility is exploring a concrete pathway for extending a traditional mobility platform into an intelligent mobility technology platform.