PATEO Shares Surge Over 30% in Morning Session Following 2.5 Billion Yuan Strategic Credit Facility and Partnership with Shanghai Jiao Tong University

Stock News04-14

PATEO (02889) saw its shares rise more than 30% during the morning trading session. At the time of writing, the stock was up 29.15%, trading at HK$143.1 with a turnover of HK$142 million. On April 9, PATEO formally entered into a comprehensive strategic cooperation agreement with China Minsheng Bank. Under the agreement, the bank has agreed to provide PATEO with a 2.5 billion yuan indicative credit facility. The core objective of this strategic partnership is to accelerate PATEO's strategic positioning in the mergers and acquisitions sector through robust financial support. The 2.5 billion yuan credit line will primarily be used to support the company's future strategic acquisitions and its rapidly growing internal demand. Notably, on April 10, PATEO announced that it has signed a strategic cooperation framework agreement with the Institute of Artificial Intelligence Operating Systems at Shanghai Jiao Tong University. Both parties will deeply integrate resources from industry, academia, research, and application, using OpenHarmony as the technological foundation, to jointly drive innovative breakthroughs in the field of embodied intelligence and build a fully independent and controllable embodied intelligence innovation ecosystem.

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