HK Stock Market Move | Zhejiang Shibao (01057) jumped more than 5% after the performance report; the net profit attributable to the parent company in the first three quarters increased by more than 30% year-on-year, and the steering control switch has been designated by several mainstream customers.

Zhejiang Shibao (01057) rose more than 5% after the performance announcement. As of the deadline, it rose 5.37% to HKD 5.13, with a turnover of HKD 26.2831 million. On the news front, on October 27, Zhejiang Shibao released its performance for the first three quarters of 2025. The group achieved operating income of RMB 2.462 billion, an increase of 35.44% year-on-year; the net profit attributable to shareholders of listed companies was RMB 150 million, an increase of 33.66% year-on-year; and the basic earnings per share was RMB 0.1819. Recently, Zhejiang Shibao stated on the investor interaction platform that the company's main business is the first-level supporting of automobile steering systems, with major customers being leading domestic car manufacturers and mainstream new energy vehicle companies. The company's main R&D investment is focused on electrification and intelligent steering technology. The company's line-controlled steering and rear-wheel steering have been designated by several mainstream customers but are not yet in mass production. The company is a supplier of the steering intermediate shaft for Xiaomi vehicles.