PATEO Shares Surge Over 7% in Late Trading Following Major Partnership Announcements

Stock News05-04

PATEO (02889) saw its shares rise more than 7% during late trading. At the time of writing, the stock was up 6.36%, trading at HK$143.8 with a turnover of HK$27.17 million. On April 22, PATEO signed a strategic cooperation framework agreement with Horizon Robotics, becoming one of the first customers for its integrated cockpit and driving chip, "Horizon Starlight®." The two companies will collaborate in areas such as smart cockpits and intelligent driving. On April 23, PATEO announced a deep partnership with a leading OEM new energy vehicle manufacturer and NVIDIA, securing a contract for a new generation of intelligent vehicles. PATEO will lead the provision of an integrated AI BOX hardware and software solution and develop an in-vehicle large model solution based on NVIDIA's DRIVE AGX Thor platform. Guotai Haitong Securities released a research report stating that PATEO has a strong foothold in the AI smart cockpit sector, leveraging its integrated hardware, software, chip, and cloud capabilities. With the ramp-up of high-end platforms and AI-driven growth, the company is entering a phase of earnings acceleration, offering both growth potential and valuation flexibility. The brokerage initiated coverage with an "Overweight" rating.

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