HK Stock Market Move | PATEO (02889) soared more than 25% in the afternoon, with high-end cabins continuing to see a surge in sales. The company's annual revenue increased by over 37% year-on-year.

PATEO (02889) soared more than 25% in the afternoon, rising 16.55% as of the time of publication, to HK$117.6, with a turnover of HK$721.875 million. On the news front, PATEO released its annual performance report, with the group achieving revenue of RMB 3.51 billion, a year-on-year increase of 37.26%; gross profit of RMB 434 million, a year-on-year increase of 44.25%. During the period, the AI cockpit and application sector served as the core foundation, achieving double breakthroughs in market share and gross profit through full-stack self-developed technology + high-endization strategy. By 2025, the company's delivery volume of intelligent cockpit domain controllers reached 1.3 million units, a year-on-year increase of 40%, driving intelligent cockpit solution revenue to reach RMB 3.41 billion, accounting for 97.3% of total revenue. It is worth noting that the voluntary announcement disclosed by the company on the same day showed that based on their firm confidence in the company's future prospects and long-term value, the cornerstone investors Horizon Together Holding Ltd. and Huangshan SP have voluntarily extended the lock-up period of their shares from 6 months to 18 months.