Seagull Living hits five consecutive limit-ups; PATEO Connect plans to take control for 800 million yuan

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On August 28, Seagull Living opened at limit-up and has now posted five consecutive limit-up sessions. As of midday, the stock rose 10.06 percent to 5.8 yuan per share, with more than 1.23 million lots locked on the limit-up board, pushing its latest market value to 3.7 billion yuan. Earlier, the company's controlling shareholder Zhongyu Investment signed a share transfer agreement with PATEO Connect, planning to transfer a 20 percent stake in the company for 800 million yuan, equivalent to about 6.19 yuan per share. Upon completion, PATEO Connect will become the controlling shareholder, and Ying Zhenkai will become the actual controller. At the same time, Zhongyu Investment will transfer another 5.01 percent stake to Fuqing Yaohong for a total consideration of 200 million yuan. PATEO Connect is a company listed on the Hong Kong Stock Exchange, mainly engaged in intelligent cockpit and intelligent connected solutions. In the first half of 2026, the company reported operating revenue of 1.216 billion yuan, down 11.09 percent year on year, with a net loss of 39.9612 million yuan, an expansion of 53.43 percent compared with the same period last year.

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