PATEO (02899) saw its shares rise more than 4% in afternoon trading, reaching a high of HKD 282 and setting a new record since its listing. At the time of writing, the stock was up 2.74% at HKD 277.2, with a turnover of HKD 10.42 million. The increase follows the company's recent announcement of a framework cooperation agreement with Ping An Property & Casualty Insurance. The partnership aims to deeply integrate AI, internet of vehicles technology, and insurance services, breaking down industry barriers between the automotive and financial insurance sectors. This collaboration is expected to enable a leap from basic services to personalized, full-scenario empowerment, reconstructing the smart mobility insurance ecosystem and leading the transformation of insurance services and user experience upgrades in the era of intelligent transportation. Notably, leveraging its strong expertise in smart cockpits, large models, and embodied intelligence, PATEO is accelerating the commercialization of its technological achievements. In October 2025, the company entered into a comprehensive strategic partnership with leading AI firm SenseTime, focusing on the deep application of large AI models in smart cockpits while simultaneously expanding into future areas such as humanoid robots and integrated cabin-driving systems, demonstrating its commitment to advancing towards a high-level intelligent mobility ecosystem.