PATEO CONNECT Technology (Shanghai) Corporation (PATEO) announced the successful completion of its new H-share placement on 10 September 2026, conducted under the company’s existing general mandate.
A total of 4.89 million new H Shares were placed at HK$120.28 each, raising HK$588.04 million in gross proceeds. After deducting placement-related expenses, net proceeds amounted to HK$578.34 million, implying a net price of HK$118.30 per share.
Capital structure effects • The issuance represents 5.57% of PATEO’s enlarged H-share class and 2.93% of total share capital. • Post-placement, the company’s total issued shares increased from 161.82 million to 166.71 million. • H-share ownership rose to 52.62% of total shares (from 51.18%), while domestic shares declined to 47.38%. • Founder and Chairman Mr. Ying Zhenkai’s aggregate direct and deemed interest now stands at 28.70% of the enlarged share base. • No placee has become a substantial shareholder, and the company continues to meet Hong Kong Stock Exchange public-float requirements.
Intended deployment of proceeds • 40% (about HK$231.34 million) allocated to strategic M&A and investments focused on AI-related and semiconductor value-chain targets to strengthen technological capabilities and market reach. • 60% (about HK$347.00 million) earmarked for working capital and general corporate purposes, including daily operations, potential share repurchases, debt repayment and international expansion. PATEO expects full utilisation of the funds by 30 June 2027.
Recent equity financings Over the past 12 months, PATEO has executed three other equity transactions: 1. Initial public offering on 30 September 2025: 10.44 million H Shares at HK$102.23, raising net proceeds of RMB 815.00 million (HK$894.00 million). 2. May 2026 private subscription: 0.90 million H Shares at HK$127.35, netting HK$113.61 million. 3. June 2026 placement: 2.26 million H Shares at HK$173.40, yielding HK$381.62 million net.
Utilisation status of prior proceeds • Product portfolio expansion and technology enhancement: RMB 133.00 million of RMB 245.00 million allocated; RMB 112.00 million unspent. • Production, testing and validation capacity: RMB 157.00 million of RMB 245.00 million allocated; RMB 88.00 million unspent. • Sales network and brand building: RMB 44.00 million of RMB 163.00 million allocated; RMB 119.00 million unspent. • Strategic investments: RMB 81.00 million fully utilised. • Working capital/general corporate: RMB 81.00 million fully utilised. • From the May 2026 subscription, HK$113.61 million has been completely spent, while HK$5.58 million remains from the June 2026 placement’s working-capital allotment.
Settlement mechanics The new shares were issued to not fewer than six independent third-party investors via HKSCC Nominees, with proceeds remitted in immediately available funds after deduction of placement commissions and fees.
With this latest transaction, PATEO has reinforced its balance-sheet flexibility to pursue technology-driven acquisitions and support ongoing growth initiatives through mid-2027.