HK Stock Market Move | NEXTEER (01316) rose more than 3%. The company's SbW project is progressing well and has started to penetrate into models priced at 300,000 yuan.

NEXTEER (01316) rose more than 3%, as of press time, up 2.81%, at HK$5.13, with a turnover of HK$25.2276 million. UBS released a research report stating that NEXTEER management revealed at the 2026 Asia Investment Conference that the company has initiated two steer-by-wire (SbW) projects so far this year. Management expects to receive more SbW and electronic mechanical braking (EMB) orders in 2026, while the rear wheel steering (RWS) project is planned to start production in the second half of this year. UBS pointed out that NEXTEER's SbW orders have already been delivered to Ideal L9 Livis and Tesla Cybercab, with management noticing an increase in willingness of automakers to adopt the technology. SbW has started penetrating models with a selling price of 300,000 yuan, and it is expected that by 2030, the penetration rate of SbW in China may exceed 20%.