HK Stock Market Move | PATEO (02889) Surges Over 10% in Early Trading; AI Box Solution Wins 2026 IoT Digital Economy Award

PATEO (02889) surged over 10% in early trading. As of press time, it was up 6.57% at HK$52.75, with turnover of HK$50.4874 million. On the news front, on November 3, the 2026 Global IoT Digital Economy Sustainable Development Conference and World Internet of Things Convention opened in Beijing, where the results of the IoT Digital Economy Awards were officially announced. PATEO won a project category award for the technological innovation and mass-production deployment value of its AI Box integrated hardware-software solution, becoming the only company in the transportation and connected vehicle sector to receive an award at this year's event, and the only company in the smart cockpit track to make the list. Public information shows that the award-winning AI Box solution is among the world's first integrated hardware-software mass-production solutions led by PATEO and based on the NVIDIA DRIVE AGX Thor platform. The solution has previously secured a project designation for a new-generation model of a leading new energy vehicle manufacturer, with mass production expected in the second quarter of 2027; the platform is highly versatile and can quickly adapt to multiple models of mainstream automakers, and can be extended and reused in physical AI scenarios such as Siasun Robot&Automation.