On June 24, Pateo Connect Technology fell 5.5% in regular trading, trading at HK$141.2/share, with turnover of HK$5.39 million.

On the news front, the company completed the placement of 2,259,300 new H shares on June 22 at HK$173.40 per share, raising net proceeds of approximately HK$382 million, with 80% earmarked for strategic acquisitions in AI and chip sectors under its integrated hardware-software-chip-cloud strategy. The current stock price represents a discount of over 18% to the placement price, leaving all new placement shareholders deeply underwater.

Since the placement announcement on June 17, the stock has declined cumulatively over 33%. Although the founder and CFO collectively increased their holdings by over HK$41 million during the period, this remains insignificant relative to the HK$382 million placement scale, failing to restore market confidence. Selling pressure from both profit-taking and stop-loss orders continues to intensify, with the stock showing no signs of stabilization.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)