PATEO (02889.HK): Executive directors Zhang Fukai and Lai Weilin increase H-share holdings, undertake 12-month lock-up
- Following the increase, Mr. Zhang beneficially owns 128,848 H shares, or approximately 0.077% of the total issued shares, and Mr. Lai beneficially owns 80,008 H shares, or approximately 0.048%.
- Mr. Zhang and Mr. Lai have undertaken a 12-month voluntary lock-up from the date of settlement of the purchase of the increased H shares, during which they will not sell, transfer or dispose of the increased shares or create any encumbrance over them.
NewTimeSpace News: On 15 September 2026, PATEO CONNECT Technology (Shanghai) Corporation (stock code: 02889) announced that Mr. Zhang Fukai, an executive director, chief financial officer and Board Secretary of the Company, and Mr. Lai Weilin, an executive director of the Company, increased their holdings of the Company's H shares on the open market of the Stock Exchange with their own funds on that day. Mr. Zhang increased his holding by an aggregate of 40,760 H shares through the trading system of the Stock Exchange by way of centralised bidding, representing approximately 0.024% of the total issued shares of the Company as at the date of the announcement, for a total consideration of approximately RMB 3.00 million at an average price of approximately HKD 83.60 per share. Mr. Lai increased his holding by an aggregate of 21,860 H shares, representing approximately 0.013% of the total issued shares, for a total consideration of approximately RMB 1.60 million at an average price of approximately HKD 82.89 per share.
Following the increase, Mr. Zhang beneficially owns 128,848 H shares, representing approximately 0.077% of the total issued shares of the Company as at the date of the announcement, and Mr. Lai beneficially owns 80,008 H shares, representing approximately 0.048%. The announcement stated that the increase was a market transaction conducted by Mr. Zhang and Mr. Lai on the open market, did not involve the issue of new shares by the Company and will not result in any change in the total issued share capital of the Company. Both of them have given written voluntary lock-up undertakings to the Company that, within 12 months from the date of settlement of the purchase of the increased H shares on the Stock Exchange, they will not, in any manner, sell, transfer or dispose of the increased shares or create any other encumbrance affecting their interests therein.
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