CaoCao Completes Weixing Technology Acquisition, Triggers New Connected-Transaction Oversight
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CaoCao Inc. has completed the acquisition of Weixing Technology, making it a wholly owned subsidiary effective January 27, 2026. This acquisition triggers ongoing connected transaction oversight under Hong Kong listing rules, affecting pre-existing agreements with Geely Holding's subsidiaries. The deal involves 33 vehicles valued at RMB17.74 million and a rental agreement of RMB16.38 million at a 6% interest rate. Analysts rate CaoCao's stock as a Buy with a target price of HK$70.00, and the company operates within the Geely ecosystem, focusing on mobility and technology services in China.
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