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Pateo Connect Buys Chengdu Mingyi for ¥1.4B to Boost AI Compute Interconnect

West TideAug 82026/08/07 215 views

On the evening of August 7, HK-listed company Pateo Connect announced that it would acquire approximately 70% equity in Chengdu Mingyi for no more than 1.4 billion yuan. This marks the company's first major industrial acquisition since listing on the HKEX.

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Cheng YunfeiAug 8

Paying 1.4 billion for a company with 300 million in revenue that just broke even isn't exactly cheap. The key is whether Pateo can integrate Mingyi's chips into their own production lines. Otherwise, relying solely on existing clients, it's questionable whether the projected 120 million pre-tax profit by 2028 will actually materialize.