HK Stock Market Move | NEXTEER (01316) rose nearly 10% in the afternoon. The mid-term performance report will be released this Wednesday. Institutions believe that the company is expected to benefit from the shift from wired control to mass production of car models.

NEXTEER (01316) rose nearly 10% in the afternoon, up 8.38% to HK$6.47 as of press time, with a turnover of HK$84.5276 million. On the news front, NEXTEER will hold a board meeting on August 13 to approve its interim performance. BOC International previously released a research report indicating that it is expected that NEXTEER's interim revenue will increase by 7% to 8% year-on-year to $2.25 billion, mainly due to a surge in sales in the Asia-Pacific region and weaker-than-expected demand interruptions in non-Asia-Pacific businesses, with an expected net profit of between $40 million and $50 million during the period. Northeast also pointed out that from the perspective of car companies, the market generally considers Tesla's Cybertruck as the first truly mass-produced steer-by-wire model. Among domestic players, NIO ET9 is the first mass-produced steer-by-wire model. Many car companies are intensively studying steer-by-wire technology, and it can be anticipated that from 2026 onwards, models equipped with steer-by-wire technology will gradually begin to be mass-produced. From the perspective of suppliers, players in the steering market have also actively carried out layouts for steer-by-wire technology, with companies such as ZF, NEXTEER, Bosch, JTEKT, and Schaeffler all actively conducting research and development. Head tier 1 players like NEXTEER have a strong technological advantage, and with the increasing speed of the implementation of steer-by-wire technology in the industry, NEXTEER is expected to benefit fully.