HK Stock Market Move | PATEO (02889) rose by more than 4%, planning to jointly acquire a photoelectric chip company with Ping An Capital to further strengthen the integrated strategy of "software, hardware, core, and cloud".

PATEO (02889) rose more than 4%, as of press time, it rose 3.52% to HK$223.6, with a turnover of HK $27.1128 million. On the news front, PATEO released an announcement that on June 2, 2026 (after trading hours), the company (Buyer 1), Ping An Capital Limited Liability Company (Ping An Capital) or its managed funds (Buyer 2, collectively referred to as "Buyers"), the controlling shareholder and shareholders of the target company (Sellers), and the target company have entered into a memorandum of intention for the acquisition of the target company's shares by the Buyers in cash in order to acquire controlling and controlling rights over the target company. It is reported that the target company is an integrated circuit design company specializing in high-performance communication chip development, operating in a Fabless model, mainly engaged in the research, design, and sales of high-speed optoelectronic chips, high-performance analog chips, and modules. Its optoelectronic chip products are one of the core chips in optical modules in AI data centers, and are in high demand in the domestic industry for localization. The proposed transaction aims to promote the company's strategic extension into the upstream chip field. If the transaction is completed, the company will incorporate the target company's core capabilities in optoelectronic chips, optical modules, and top customer resources into its system, further strengthening the integrated strategy of "software, hardware, core, and cloud", and promoting the company to form a composite industrial layout of "intelligent car solutions + high-performance communication chips".