PATEO CONNECT acquires 20% of Guangzhou Seagull for US$110M
What's the deal? PATEO CONNECT Technology (Shanghai) Corporation has conditionally agreed to acquire a 20% stake in Guangzhou Seagull Kitchen And Bath ProductsDealroom has a profile for this one. Try Dealroom → for approximately US$110M. The transaction, announced on 21 August 2026, would make PATEO the controlling shareholder of the Shenzhen-listed company if completed.
What are the terms? PATEO would acquire 129,211,208 A shares, representing 20% of Guangzhou Seagull's issued share capital, at approximately US$0.85 per share. Completion is subject to shareholder approval and other conditions, including any required market-concentration approval, due diligence and compliance confirmation from the Shenzhen Stock Exchange.
Why now? The deal would extend PATEO's intelligent-vehicle business into smart-home and integrated kitchen-and-bathroom products. Guangzhou Seagull reported 2025 revenue of US$360.4M and a net loss after tax of US$17.2M.
The signal: The proposed transaction links automotive intelligence with household infrastructure, giving PATEO a route to broaden its technology and industrial footprint while taking control of a listed kitchen-and-bathroom manufacturer.
Read more: Minichart
Image credit: Generated with Gemini
