HK Stock Market Move | PATEO (02889) rose more than 7% in the morning. The company has recently extended its layout to in-car optical communication and computing power. The second curve is gradually becoming clearer.

PATEO (02889) rose more than 7% in the morning, as of the time of writing, it has risen 6.63% to HK$130.2, with a trading volume of HK$46.7072 million. In terms of news, PATEO announced that on July 13, the board of directors approved the conversion of 71,697,821 domestic shares (accounting for approximately 44.31% of the total number of shares issued as of the announcement date) into H shares, implementing full circulation of H shares. As of the announcement date, the company has not yet submitted the application documents for the full circulation of H shares to the China Securities Regulatory Commission, and the details of the implementation plan have not been finalized. The full circulation of H shares and the listing through conversion must comply with the relevant regulatory procedures, and the company will disclose progress in a timely manner. It is worth noting that in June of this year, PATEO announced its intention to acquire a photoelectric chip enterprise and strategically extend into the upstream chip field. Subsequently, the company officially signed a cooperation agreement with Fudan University to layout silicon light and fourth-generation semiconductors. Pacific Securities stated that if the subsequent acquisition is successful, joint research and development progress in the laboratory is achieved, and smoothly integrated into the industrialization platform, the company is expected to form a new business focus on AI computing infrastructure and automotive optical communication, in addition to smart car solutions, the industry logic of the second growth curve will be more complete.