PATEO (02889) plans to cooperate with Ping An Property & Casualty Insurance to reconstruct the smart travel insurance ecosystem.

PATEO (02889) announced that, in order to promote the deep integration of "technology+finance+automobile+service", the company entered into a framework cooperation agreement with Ping An Property Insurance Company Limited ("Ping An Property Insurance") on January 31, 2026. Both parties will innovate through the deep integration of "AI+vehicle networking technology+insurance services", breaking the industry boundaries between the automotive industry and the financial insurance industry, achieving a leap from "basic services" to "personalized, all-scenario empowerment", restructuring the smart travel insurance ecosystem, leading the transformation of insurance services in the era of smart travel and upgrading user experience. According to the framework cooperation agreement, the company will carry out the following strategic cooperation with Ping An Property Insurance: 1. Co-create a new paradigm of AI and data integration services. Building on a foundation of strict data security, both parties will utilize their leading technological capabilities and insurance financial expertise to create a smart and personalized insurance service experience through a multidimensional data platform and core AI algorithms, jointly with ecosystem partners, to continually enhance user value and satisfaction. 2. Build a leading safety ecosystem through "vehicle-insurance linkage". Combining the company's technological expertise in in-vehicle multimodal interaction and cloud platforms, the integration of the driving behavior risk perception system with the Ping An customer operations system will be carried out, jointly with ecosystem partners, to construct an industry-leading "vehicle-insurance linkage" new model, injecting technological vitality into the development of a strong transportation nation. 3. Expand the horizon of smart travel services together. By deeply integrating the ecosystem resources of both parties, driving safety and insurance services will be deeply integrated, providing one-stop travel solutions around diverse travel scenarios, actively exploring embedded insurance financial innovations, leading the industry to form a new ecosystem of "technology-enabled, cross-boundary integration, and collaborative development", seizing market development opportunities, and jointly promoting the upgrade of the smart transportation ecosystem.