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PATEO CONNECT Tech (Shanghai) (2889) fair value: what the stock is really worth

As of Sep 22, 2026: fair value of PATEO CONNECT Tech (Shanghai) HK$41.25, price HK$82.50, upside -50.0%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Technology · HK

PC Thin data Sep 23, 2026

PATEO CONNECT Tech (Shanghai)

2889 · HK

Weakest SetupStrongly overvalued and low quality.

!Fair value HK$41.25 · Strongly overvalued (−50%)
!Quality 32/100
!Expensive Growth (revenue 3y +41.1 %/yr)
!Loss-making · -31.2% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$282.00 HK$82.50 Fair Value HK$41.25 Sep 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 23, 2026.

How to read this chart

12‑month range HK$82.50 – HK$282.00 · fair‑value band HK$27.22 – HK$51.53 · the HK$82.50 price screens above the HK$41.25 fair value. As of Sep 23, 2026.

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Company profile

PATEO CONNECT Technology (Shanghai) Corporation engages in the provision of smart cockpit and vehicle connectivity support services in China and Hong Kong.

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PATEO CONNECT Technology (Shanghai) Corporation engages in the provision of smart cockpit and vehicle connectivity support services in China and Hong Kong. It offers smart cockpit solutions, such as integrated cockpit controller hardware, the operating system, and application software; and intelligent vehicle connectivity solutions, including user operations, and cloud-based vehicle connectivity services for smart cockpits, other in-vehicle equipment as well as mobile devices, including online navigation, cloud-based natural language recognition, remote vehicle control, online entertainment, remote diagnostics, OTA updates, and big data application. The company is also involved in IoT and software development; and information system integration services and concentrating on cloud platform development. PATEO CONNECT Technology (Shanghai) Corporation was formerly known as Shanghai Pateo Electronic Equipment Manufacturing Co., Ltd. and changed its name to PATEO CONNECT Technology (Shanghai) Corporation in December 2021. PATEO CONNECT Technology (Shanghai) Corporation was founded in 2009 and is based in Shanghai, China.

Stock analysis

PATEO CONNECT Tech (Shanghai) (2889) currently trades at HK$82.50, while our model-based Fair Value estimate is HK$41.25, implying the stock looks roughly 100.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: HK$27.22 (bear) to HK$51.53 (bull), the price of HK$82.50 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

PATEO CONNECT Tech (Shanghai) reported revenue of 3.4B CNY in FY2025 versus 849M CNY in FY2021, a compound +41.6%/yr. Reported net income was −1.1B CNY in FY2025.

Key figures

Market cap HK$14.3B (≈ $1.8B) · P/S ratio 5.30 · EPS (TTM) HK$−1.63 · Net margin −31.2% · Return on equity −59.2% · Return on assets (EBIT) −18.5% · Operating margin −34.8% · Revenue (TTM) HK$3.5B.

What moves the price

The share trades about 71% below its 52-week high, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at −50%, 2889 screens richer than that median.

Fair Value models

Bear HK$27.22 Fair Value HK$41.25 Bull HK$51.53
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) HK$4.77 HK$6.40 HK$9.55 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$4.77 HK$6.40 HK$9.55 54

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Quality Score breakdown

Overall quality 32/100

Of which business quality 35 · Market factors (momentum, volatility) 1

Profitability 10
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 10
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+33.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+41.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−43.3% (2021) → −28.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

2889 screens 100% overvalued. Compare with SAP SE →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 704 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −50% · Below median
Profitability
Return on assets −12% · Bottom 25%
Net margin (TTM) −31% · Bottom 25%
Operating margin (TTM) −35% · Bottom 25%
Growth and dividend
Revenue growth 43% · Top 25%
Balance sheet
Debt / equity 0.15× · Above median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 0.85× · Cheaper than median
P/S (TTM) 0.52× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 26
FUTURE (revenue growth)100 · sector 38
PAST (return on equity)0 · sector 16
HEALTH (low debt)92 · sector 97
DIVIDEND (yield)0 · sector 31

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €182.32 €159.06 −13%
Shopify Inc SHOP $147.74 $64.36 −56%
Uber Technologies, Inc UBER $69.89 $104.82 +50%
Salesforce, Inc CRM $233.28 $344.41 +48%
ServiceNow, Inc NOW $137.00 $150.70 +10%
Cadence Design Systems, Inc CDNS $302.95 $225.14 −26%
Snowflake Inc SNOW $336.59 $75.08 −78%
Datadog, Inc DDOG $247.48 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $269.64 $177.51 −34%

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PATEO CONNECT Tech (Shanghai) · Fair Value
HK$41.25 −100%Fair Value
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Cite: Fair Value Calculator (2026). "PATEO CONNECT Tech (Shanghai) Fair Value". https://www.fairvalue-calculator.com/stock/2889

Frequently asked questions

Is PATEO CONNECT Tech (Shanghai) (2889) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of HK$41.25 versus a price of HK$82.50, about −50% upside (overvalued).
What is the fair value of 2889?
Our model-based fair value for PATEO CONNECT Tech (Shanghai) is HK$41.25 (as of Sep 23, 2026), built from audited fundamentals. The current price: HK$82.50.
What is the quality score of 2889?
PATEO CONNECT Tech (Shanghai) has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PATEO CONNECT Tech (Shanghai) (2889)?
Our model-based price target is the fair value of HK$41.25 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario HK$27.22, optimistic scenario HK$51.53. It is a calculation from audited fundamentals, not an analyst target.
What is the PATEO CONNECT Tech (Shanghai) stock forecast for 2026?
Our models put fair value at HK$41.25, about −50% upside versus a price of HK$82.50 (overvalued). Cautious scenario HK$27.22, optimistic scenario HK$51.53. The calculation is refreshed regularly with new filings.
What is the revenue of PATEO CONNECT Tech (Shanghai) (2889)?
PATEO CONNECT Tech (Shanghai) reported trailing-twelve-month revenue of about HK$3.5B (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of PATEO CONNECT Tech (Shanghai) (2889)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PATEO CONNECT Tech (Shanghai) it is HK$41.25 per share (as of Sep 23, 2026), against a price of HK$82.50. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is PATEO CONNECT Tech (Shanghai) stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 2889 trades above its calculated fair value: price HK$82.50, fair value HK$41.25, a gap of about −50% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2889?
No. The price is what the market pays today (HK$82.50); the fair value is what the company's own numbers justify (HK$41.25). For PATEO CONNECT Tech (Shanghai) the two are HK$41.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is PATEO CONNECT Tech (Shanghai) worth?
The market values PATEO CONNECT Tech (Shanghai) at about HK$14.3B (market capitalisation, as of Sep 23, 2026). Per share that is HK$82.50; our models calculate a fair value of HK$41.25 per share.
What do the bullish and bearish scenarios say about 2889?
Our models span a range for PATEO CONNECT Tech (Shanghai): cautious scenario HK$27.22, base HK$41.25, optimistic HK$51.53 per share (as of Sep 23, 2026, price HK$82.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PATEO CONNECT Tech (Shanghai) (2889)?
Balance-sheet figures for PATEO CONNECT Tech (Shanghai) (as of Sep 23, 2026): return on equity −59.2%, debt of 0.15 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 2889 from its 52-week high?
PATEO CONNECT Tech (Shanghai) trades at HK$82.50, about 71% below its 52-week high of HK$288.80 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of HK$41.25 is for.
Which stocks are comparable to PATEO CONNECT Tech (Shanghai)?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PATEO CONNECT Tech (Shanghai) stock attractive at the current price?
The data as of Sep 23, 2026: price HK$82.50, calculated fair value HK$41.25 (−50%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2889 calculated?
We run PATEO CONNECT Tech (Shanghai) through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$41.25, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. PATEO CONNECT Tech (Shanghai) itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PATEO CONNECT Tech (Shanghai) (2889)?
The closing price on Sep 22, 2026 was HK$82.50. Our model-based fair value is HK$41.25, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PATEO CONNECT Tech (Shanghai) right now?
The price sits above even our optimistic bull case (HK$51.53). The favourable scenario is already priced in. Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$27.22 to HK$51.53) leaves room in how you read the outcome.

Key figures of PATEO CONNECT Tech (Shanghai)

How large is the market capitalisation of PATEO CONNECT Tech (Shanghai) (2889)?
The market capitalisation of PATEO CONNECT Tech (Shanghai) is HK$14.3B (≈ $1.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PATEO CONNECT Tech (Shanghai) (2889)?
The price-to-sales ratio of PATEO CONNECT Tech (Shanghai) is 5.30 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PATEO CONNECT Tech (Shanghai) (2889)?
Earnings per share at PATEO CONNECT Tech (Shanghai) are HK$−1.63. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PATEO CONNECT Tech (Shanghai) (2889)?
The net margin of PATEO CONNECT Tech (Shanghai) is −31.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PATEO CONNECT Tech (Shanghai) (2889)?
The return on equity (ROE) of PATEO CONNECT Tech (Shanghai) is −59.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PATEO CONNECT Tech (Shanghai) (2889)?
On an EBIT basis the return on assets of PATEO CONNECT Tech (Shanghai) is −18.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PATEO CONNECT Tech (Shanghai) (2889)?
The operating margin of PATEO CONNECT Tech (Shanghai) is −34.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PATEO CONNECT Tech (Shanghai) (2889)?
Revenue at PATEO CONNECT Tech (Shanghai) is growing +42.9% versus a year earlier (3y avg +41.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does PATEO CONNECT Tech (Shanghai) (2889) generate?
The free cash flow of PATEO CONNECT Tech (Shanghai) is −HK$1.1B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does PATEO CONNECT Tech (Shanghai) (2889) carry?
The net debt of PATEO CONNECT Tech (Shanghai) is HK$758M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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