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Chinese provider of connected-car and in-vehicle infotainment software solutions for automakers.
Chinese provider of connected-car and in-vehicle infotainment software solutions for automakers.
Is paid by carmakers under development projects and per-vehicle software supply, so revenue depends on which car models it wins and how many of them sell. Smart-cockpit work expands what it supplies per vehicle, while carmakers also build software in-house, which limits its share.
In one line: China's answer to a connected-car software supplier like Harman/QNX.
Moat: narrow (process know-how, customer qualification). Long-qualified automotive-grade software supplier relationships, though the connected-car software market is competitive with in-house OEM efforts.
Headquarters: Shanghai, China · Founded: 2010 · Employees: 2,119
Size PATEO CONNECT Technology (Shanghai) (2889.HK) is a Hong Kong Information Technology company (Packaged Software) with a market value of $1.05B, the 585th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$49.50 on 6 Nov 2026.
Performance Over six months the shares fell 65.0%, against -10.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 72.3% over the last twelve months (peer median +5.5%); the operating margin is -24.0% (peer median 3.0%).
Valuation It trades at 1.9× enterprise value to sales against a peer median of 5.2× (3rd cheapest of 20).
Capital Return on invested capital runs 38.4 points below its cost of capital (14.9% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$5.19B | HK$3.81B | HK$2.77B | HK$1.65B | HK$1.42B |
| Revenue growth | — | +37% | +68% | +17% | — |
| Gross profit | HK$598M | HK$471M | HK$326M | HK$255M | HK$199M |
| EBITDA | -HK$1.13B | -HK$1.00B | -HK$521M | -HK$364M | -HK$490M |
| Net income | -HK$1.30B | -HK$1.19B | -HK$587M | -HK$314M | -HK$526M |
| Free cash flow | -HK$1.97B | -HK$1.19B | -HK$995M | -HK$525M | -HK$768M |
| Capital expenditure | HK$731M | HK$566M | HK$190M | HK$202M | HK$206M |
| Total debt | n/a | HK$2.51B | HK$1.82B | HK$1.21B | HK$750M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| PATEO CONNECT Technology (Shanghai) 2889.HK | $1.05B | -65% | +72% | -24% | 1.9× | n/a |
| Huizhou Desay SV Automotive 002920.SZ | $7.12B | -23% | +12% | 7% | 1.4× | n/a |
| Lumine LMN.V | $5.14B | +38% | +15% | 21% | 6.3× | 15.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2889.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.8% | -4.0% | 11th highest of 21 |
| 6-month return | -65.0% | -10.7% | 2nd lowest of 20 |
| Distance from 52-week high | -82.9% | -34.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +72.3% | +5.5% | 3rd highest of 21 |
| Operating margin | -24.0% | 3.0% | 4th lowest of 21 |
| EV / Sales | 1.9× | 5.2× | 3rd cheapest of 20 |
| ROIC minus cost of capital | -38.4 pp | -4.9 pp | 2nd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PATEO CONNECT Technology (Shanghai) 2889.HK | Hong Kong | $1.05B | -65% | +72% | -24% | 1.9× | n/a | n/a |
| Bravura Solutions BVS.AX | Australia | $1.06B | +50% | -10% | 25% | 5.2× | 4.1% | +3.1% |
| Sichuan Xun You Network Technology 300467.SZ | China | $1.05B | -22% | +2% | 1% | 21.8× | n/a | n/a |
| Suzhou MedicalSystem Technology 603990.SS | China | $1.04B | +44% | -15% | 5% | 23.0× | n/a | n/a |
| BigBear.ai BBAI | United States | $1.07B | -47% | -1% | -66% | 5.7× | n/a | n/a |
| Blackbuck BLACKBUCK.NS | India | $1.08B | -1% | +50% | 14% | 11.5× | 34.8% | +54.8% |
| Bingo Software 688227.SS | China | $1.08B | -56% | -7% | -11% | 14.3× | n/a | n/a |
| Tansun Technology 300872.SZ | China | $1.08B | -11% | -10% | -12% | 4.5× | n/a | n/a |
| ZoomInfo Technologies GTM | United States | $1.02B | -45% | +3% | 23% | 1.9× | -9.7% | +21.3% |
| Shenzhen Sunline Tech 300348.SZ | China | $1.10B | -22% | +19% | -1% | 3.4× | n/a | n/a |
| Tuya 2391.HK | Hong Kong | $1.00B | -33% | +7% | 5% | n/a | n/a | n/a |
| Birlasoft BSOFT.NS | India | $998M | -7% | +4% | 15% | 1.3× | 7.9% | +8.4% |
| 74Software 74SW.PA | France | $1.11B | -5% | +11% | 14% | 1.7× | -1.7% | +18.9% |
| Red Violet RDVT | United States | $1.12B | +41% | +20% | 18% | 10.9× | 39.4% | +21.1% |
| Riskified RSKD | United States | $1.13B | +78% | +10% | -4% | 2.5× | 12.6% | +15.3% |
| Hangzhou Diagens Biotechnology 2526.HK | Hong Kong | $1.13B | -68% | +134% | -49% | 45.9× | n/a | n/a |
| Shanghai Yaoji Technology 002605.SZ | China | $1.14B | -11% | -3% | 20% | 3.1× | 6.4% | +1.0% |
| Chengdu Information Technology of Chinese Academy of Sciences 300678.SZ | China | $969M | -24% | +100% | 0% | 6.3× | n/a | n/a |
| Nexwise Intelligence China 301248.SZ | China | $967M | -47% | +11% | 13% | 11.1× | n/a | n/a |
| Shiprocket SHIPROCKET.NS | India | $963M | n/a | +24% | -5% | 4.5× | 56.2% | +23.0% |
| Kakao Games 293490.KS | South Korea | $962M | +3% | -21% | -27% | 4.0× | n/a | n/a |