Cao Cao Mobility Surges 20% After Announcing Entry into Stablecoins and RWA Tokenization
TradingKey – On Thursday, August 7, shares of Cao Cao Mobility (HK.2463) soared over 20% intraday, hitting a peak of HK$61.50, marking the company’s largest single-day gain since its IPO. By midday, the rally had slightly cooled, with the stock trading at HK$58.80, up 19%.
Cao Cao Mobility Stock Chart – Source: Google
Cao Cao Mobility, a Geely-backed Chinese EV ride-hailing platform, went public on the Hong Kong Stock Exchange on June 25, debuting near HK$30. Since then, the stock has more than doubled, fueled by strong growth in its Robotaxi operations and battery-swapping infrastructure.
On August 6, the company signed a strategic memorandum of cooperation with Victory Securities (HK.8540), a licensed financial institution in Hong Kong, to explore:
- Stablecoin payment solutions
- Tokenization of real-world assets (RWA)
- Compliant digital currency issuance
According to CEO Gong Xin, the initiative will leverage blockchain and Web3 technologies to accelerate the tokenization of Robotaxi assets, enabling more efficient capital flows and unlocking new monetization models for autonomous mobility.
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