Cao Cao Mobility Reports 37.7% Revenue Growth in 2025 Amid Soaring Debt, Faces Compliance and Service Challenges

Caocao Mobility released its 2025 annual financial report, showing a 37.7% year-over-year increase in total revenue and a significant narrowing of net losses, with adjusted net profit turning positive in the fourth quarter. By year-end, the company’s total liabilities reached RMB 9.256 billion, primarily driven by rising operational costs from aggressive expansion, sustained investment in its Robotaxi business, and related acquisition activities. Meanwhile, the platform faces multiple operational and compliance challenges. User complaints include unauthorized charges, system-generated orders without user consent, inflated fares, and poor driver service. Drivers, on the other hand, report that while registration is straightforward, account deactivation is difficult, and they are subjected to mandatory ride assignments. Additionally, Caocao Mobility has long been plagued by regulatory violations, such as deploying drivers without proper professional qualifications and operating vehicles without valid commercial transport permits. Balancing rapid scale expansion with compliant operations and improved service quality has become the company’s most pressing challenge.