Gasgoo Munich- On April 27, 2026, Pateo announced plans to issue new H shares under a general mandate. The company has entered into a subscription agreement with Triplex Holdings Management Limited, bringing in a long-term strategic investor to drive the deployment of AI technology in smart vehicles and fuel business expansion.
Image source: Pateo
Under the agreement, Triplex Holdings has conditionally agreed to subscribe to a total of 895,980 new H shares at 127.35 Hong Kong dollars each. Pateo, meanwhile, conditionally agreed to issue and allot these shares under a general mandate. The new shares represent roughly 1.19% of the company's existing H shares and will account for about 1.18% of the enlarged share capital upon completion.
Triplex Holdings is a Hong Kong-based investment holding company, with Mr. Cao Hui as its ultimate beneficial owner. Pateo noted that neither the subscriber nor its ultimate beneficial owner is a connected person of Pateo, nor will they become a major shareholder of Pateo immediately following the subscription.
Pateo stated that bringing in this long-term strategic investor from within the industry will further optimize its shareholder structure. The move lays the groundwork for building a forward-looking and strategically deep industrial linkage between the two parties across the supply chain.
The net proceeds from this fundraising will be allocated proportionally: roughly 60% will go toward AI technology applications, product development, and business expansion, while the remaining 40% will shore up working capital and cover general corporate purposes. All funds are expected to be deployed by December 31, 2026.
