HK Stock Market Move | PATEO (02889) rose nearly 6% in early trading; the company signed a strategic cooperation memorandum with Arm to deepen its physical AI layout.

PATEO (02889) rose nearly 6% in early trading. As of press time, it was up 4.79% at HK$81, with a turnover of HK$11.5666 million. On the news front, PATEO recently signed a strategic cooperation memorandum of understanding with Arm, under which the two parties will work together to promote innovative development in the field of physical AI. According to the cooperation, the two sides will jointly explore innovative solutions for physical AI scenarios, including supporting the next generation of AI workloads for automotive applications, to enable intelligent capabilities driven by perception and interaction. It is worth noting that PATEO recently received a formal project designation notice from a leading domestic high-end new energy vehicle OEM, and was selected for the first time as a supplier for a new-generation overseas model under the customer's flagship brand, responsible for the development and mass production delivery of high-end intelligent cockpit domain controllers and AI interaction systems based on Qualcomm's 8397 new-generation high-performance cockpit chip platform. This designation is another substantive breakthrough in PATEO's globalization strategy.