PATEO (02889) completes the acquisition of 70% of the issued shares of Chengdu Mingyi Electronic Technology

PATEO (02889) announces that on August 7, 2026, the Company entered into a share transfer agreement with the transferors, the actual controller of the target company, and the target company Chengdu Mingyi, pursuant to which the Company conditionally acquired approximately 70% of the equity interest in Chengdu Mingyi (53,518,600 shares), for a total consideration not exceeding RMB 1.4 billion. The transaction was completed on October 2, 2026 in accordance with the terms and conditions of the share transfer agreement. Following the completion, the Company holds a total of 53,518,600 shares in the target company, representing approximately 70% of the total issued shares of the target company. The target company has become a non-wholly-owned subsidiary of the Company, and the financial results of the target company will be consolidated into the Group's consolidated financial statements.