PATEO (02889) Enters Comprehensive Strategic Partnership with Minsheng Bank

Stock News
04/09

PATEO (02889) has announced that on April 9, 2026, the company signed a comprehensive strategic cooperation agreement with Minsheng Bank at its Shanghai headquarters. Minsheng Bank will designate the group as a strategic client and has agreed to provide an indicative credit facility of up to RMB 2.5 billion to support the group's funding needs for strategic emerging mergers and acquisitions and industrial mergers, in line with national policy encouragement. The bank will also provide the group with multi-level and comprehensive financial services. This cooperation reflects Minsheng Bank's full recognition and strong confidence in the group's industry position as an AI technology-driven integrated hardware, software, chip, and cloud solutions provider and ecosystem builder for automobiles and mobile terminals, as well as its operational strategy and long-term development prospects. The bank will provide full financial support to advance the group's strategic initiatives in industrial chain integration, technological upgrades, and global expansion, aiming to help the group achieve resource integration within and beyond the industry and create long-term value for shareholders. The comprehensive strategic cooperation agreement is a framework agreement established to strengthen collaboration between the two parties and is not legally binding on either side. For specific business cooperation, detailed agreements will be signed following the guidelines set out in the comprehensive strategic cooperation agreement.

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