BRIEF: Pateo Connect’s first-quarter revenue doubles on high-end strategy
Smart cockpit technology maker Pateo Connect Technology (Shanghai) Corp. (2889.HK) on Wednesday said its revenue more than doubled in the first quarter, as its operating profit margin also improved significantly from the year-ago period.
The revenue surge was primarily driven by the company’s focus on high-end intelligent cockpit solutions. Rising contributions from overseas markets and initial deliveries for smart cockpit projects also contributed, as did the company’s expansion into AI applications.
Pateo Connect said that it will focus on cutting-edge scenarios such as physical AI and AI agents, while exploring innovative business models including computing power billing and in-vehicle token-based billing.
Shares of Pateo opened up 8.4% at HK$249.60 on Thursday. The stock up over 140% since its listing last September.
By Lau Chi Hang
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