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Pateo Connect Technology's Operating Revenue More Than Doubles in Q1

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Pateo Connect Technology (HKG:2889) said operating revenue more than doubled in the first quarter from a year earlier, according to a Wednesday filing with the Hong Kong bourse.

The smart cockpit domain controller provider's shares were down over 2% in midday trade on Thursday.

The company said operating profit margin also improved significantly during the quarter.

Pateo attributed the revenue growth to stronger sales of high-end intelligent cockpit solutions, increased overseas contributions, and growth in AI software and smart cloud services.

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