PATEO CONNECT Technology (Shanghai) Corporation (PATEO) announced that China’s State Administration for Market Regulation issued a “Decision on Non-Implementation of Further Review for Anti-Monopoly Review of Concentrations of Undertakings” on 29 October 2026. The decision confirms that no additional antitrust review is required for PATEO’s planned purchase of a 20% equity interest in the unnamed Target Company, marking a key regulatory milestone for the transaction.
With this clearance secured, PATEO continues to prepare the shareholder circular and arrange a shareholders’ general meeting to seek approval of the Share Transfer Agreement. Following completion of the deal, PATEO will hold 20% of the Target Company’s issued share capital and become its controlling shareholder.
The acquisition remains subject to several conditions: approval by PATEO’s shareholders, compliance confirmation from the Shenzhen Stock Exchange, and completion of transfer registration with the securities registration and clearing institution. The company cautioned that the transaction may still not proceed if any of these steps are not finalized and advised shareholders and potential investors to exercise prudence when trading PATEO securities.
The board is chaired by Mr. Ying Zhenkai, with a mix of executive, employee, non-executive and independent non-executive directors overseeing the transaction process.
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