On June 5, Pateo Connect (02889.HK) fell 5.12% in regular trading, trading at 205.0 HKD/share, with trading volume of approximately 24.92 million HKD. This marks the second consecutive session of decline following an initial 12%-plus surge on June 3.
On the news front, the company announced on June 2 a plan to jointly acquire a controlling stake in an optoelectronic chip enterprise with Ping An Capital via cash consideration, aiming to extend its supply chain into upstream chip segments. However, market skepticism has intensified: analysts note that leading OEMs such as BYD have already achieved in-house 4nm automotive-grade chip development, while Pateo remains reliant on third-party chip platforms. The acquired auxiliary optoelectronic chips differ fundamentally from core MCU chips, meaning the external acquisition may not resolve the company's late-mover disadvantage.
Additionally, over 4.56 million new H-shares were added in May, creating near-term supply pressure. Combined with sustained profit-taking following the prior rally, selling pressure continues to weigh on the stock.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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