HK Stock Market Move | PATEO (02889) rose nearly 20% in the afternoon and reached a strategic cooperation with Horizon, seizing the opportunity of intelligent development of car.

PATEO (02889) surged in the afternoon, reaching a high of nearly 20%. As of the time of writing, it was up 11.09%, trading at 133.2 Hong Kong dollars, with a turnover of 2.49 billion Hong Kong dollars. On the news front, PATEO announced at midday that it had held a signing ceremony with Horizon Robotics at the product launch event of Horizon Robotics' domestically produced integrated intelligent cockpit chip Horizon -Stars at Siasun Robot & Automation technology development Co., Ltd. in Beijing on April 22nd. The company became one of the first batch of signing customers of Horizon -Stars and signed a strategic cooperation agreement with Horizon. The two parties will leverage their complementary strengths in the field of smart cars to promote the integration and innovation of AI technology in intelligent cabins, intelligent driving, and Siasun Robot & Automation, jointly creating an intelligent and domestically produced platform-level solution for automotive intelligence. According to the agreement, the two parties will collaborate deeply in four main areas. In the field of integrated cockpit, they will jointly explore a cost-effective domestically produced integrated cockpit solution, promote equal rights in automotive intelligence, and build a fully intelligent integrated vehicle with integrated cockpit; in the area of intelligent driving business, they will cooperate deeply to support the synergy between intelligent cabins and intelligent driving functions; in the application of Siasun Robot & Automation technology innovation, they will jointly build a highly reliable, low latency, and strongly collaborative Siasun Robot & Automation intelligent control system; in terms of overseas cooperation, they will share high-quality customer resources at home and abroad and jointly plan an overseas development strategy.