PATEO Shares Surge Nearly 20% After Strategic Partnership with Horizon Robotics

Stock News13:40

PATEO (02889) experienced a significant upturn in afternoon trading, with gains reaching nearly 20%. At the time of writing, the stock was up 11.09% to HK$133.2, with a turnover of HK$249 million. The surge follows an announcement by PATEO that it has entered into a strategic cooperation agreement with Horizon Robotics. The signing ceremony took place on April 22 in Beijing during the product launch of Horizon Robotics' domestically developed cockpit-driving integrated vehicle intelligence chip, Horizon Starlight®. As one of the first customers for the Horizon Starlight® chip, PATEO will collaborate closely with Horizon Robotics to leverage their complementary strengths in the smart vehicle sector. The partnership aims to advance the integration of AI technology in smart cockpits, autonomous driving, and robotics, with the goal of creating platform-level solutions for vehicle intelligence and localization. The cooperation will focus on four key areas: exploring cost-effective domestic cockpit-driving integrated solutions to promote widespread adoption of smart vehicle technology; deepening collaboration in autonomous driving to enhance synergy between smart cockpit and driving functions; jointly developing a highly reliable, low-latency, and strongly coordinated intelligent control system for robotics; and sharing high-quality customer resources domestically and internationally to jointly plan overseas expansion strategies.

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