PATEO (02889) Surges Over 10% in Late Trading; Directors and Executives Voluntarily Commit to Lock-Up, Company Secures Global Supply Deal with Jeep

PATEO (02889) rose more than 10% in late trading. As of press time, the stock was up 8.43% at HK$47.06, with turnover of HK$23.5704 million.

On the news front, PATEO announced that in order to further demonstrate the firm confidence of its directors and senior management in the group's long-term business development and intrinsic value, and to stabilize investor expectations, executive directors Ying Zhenkai, Zhang Fukai, Xu Zhenhui, Lai Weilin, and employee director Zhang Yi have made written voluntary lock-up undertakings to the company. Within 12 months from the date of the announcement, they will not sell, transfer, dispose of, or create any other rights encumbrance affecting their interests over the shares they beneficially own or hold through the employee incentive platform in any manner.

It is worth noting that PATEO has recently reached a global supply cooperation agreement with Jeep to provide high-end intelligent cockpit domain controllers and AI in-vehicle interaction system services for two major brand models under Jeep. The collaboration will cover core overseas markets including Europe, the Middle East, and South America, helping mainstream brands under Stellantis Group accelerate their global intelligent transformation.