PATEO to Convert 71.70 Million Domestic Shares into H Shares Under Full-Circulation Plan

Bulletin Express07-13

PATEO CONNECT Technology (Shanghai) Corporation (PATEO) announced board approval on 13 July 2026 to launch an H-share full-circulation plan. The initiative will convert 71.70 million domestic shares—representing about 44.31% of PATEO’s issued share capital—into H shares for listing and trading on the Main Board of the Hong Kong Stock Exchange.

The conversion follows the China Securities Regulatory Commission’s “Guidelines on Application for ‘Full Circulation’ of Domestic Unlisted Shares of H-share Companies” (last amended 10 August 2023). Under PATEO’s articles of association, the transaction does not require additional shareholder approval.

As of the announcement date, the company has not: • filed the application with the CSRC; • submitted a listing application to the Hong Kong Stock Exchange; or • finalized implementation details of the conversion.

Completion remains contingent on filings and approvals from the CSRC, the Hong Kong Stock Exchange and other relevant regulators. The company will provide further updates as the process advances and advises shareholders and potential investors to exercise caution when dealing in its shares.

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