Significant positive developments have emerged, with Tesla making a major move! Shares of a leading Hong Kong automaker surged nearly 20%, and a list of high-performing concept stocks has been compiled.
Zhejiang Shibao (01057.HK) experienced a significant surge of nearly 20% on February 23rd. The autonomous driving sector is witnessing a strong start to the year! On February 18th, Tesla announced the official rollout of the first Cybercab from its Texas Gigafactory in the United States. Reportedly, the Tesla Cybercab is the first operational vehicle specifically designed for Tesla's Robotaxi service, featuring no steering wheel, pedals, or side mirrors. Elon Musk stated on February 16th that production of the Cybercab is scheduled to begin in April. Tesla staff indicated that the Cybercab is expected to be priced no higher than $30,000, with its primary application being commercial ride-hailing, similar to a taxi service. The estimated fare per ride is approximately $0.2 per mile.
Catalyzed by this positive development, shares of autonomous driving solutions provider Zhejiang Shibao (01057.HK) surged 19.97% on February 23rd, reaching HK$7.39 and setting a new historical high.
Analysis from China Securities (CSC) suggests that the Cybercab, built specifically for autonomous operation without a steering wheel or pedals, marks a significant step forward in the commercialization of Level 4 and above Robotaxis. Concurrently, Tesla has also introduced an entry-level Cybertruck model, further expanding its electric pickup truck lineup, which is anticipated to stimulate a new wave of demand for new energy vehicles.
An Orient Securities research report stated that Cybercab production growth is expected to follow an S-curve, with long-term production targets far exceeding the combined total of all other Tesla models. It is anticipated that supporting automotive parts companies will likely see sustained incremental opportunities.
Twenty-one autonomous driving-related stocks reported solid earnings. As of February 23rd, 51 A-share companies related to autonomous driving had released performance reports or forecasts for 2025. Based on preliminary reports or the median of forecasts, 21 of these companies reported annual net profits attributable to shareholders exceeding 100 million yuan. Hangzhou Hikvision Digital Technology, SAIC Motor, and Great Wall Motor reported the highest net profits, at 14.188 billion yuan, 10 billion yuan, and 9.912 billion yuan respectively, followed by Zhejiang Dahua Technology and Ningbo Tuopu Group, both with profits exceeding 2.5 billion yuan.
Hangzhou Hikvision Digital Technology achieved annual revenue of 92.518 billion yuan in 2025, a slight increase of 0.02% year-on-year; net profit attributable to shareholders was 14.188 billion yuan, an increase of 18.46% year-on-year. According to company information, its advanced driver-assistance system products represent a new generation of intelligent vehicle terminals integrating active safety warnings, audio-video monitoring, driving recording, and BeiDou positioning. Combining technologies like deep learning algorithms, H.264 video compression, and wireless networking, these systems enable functions such as active safety alerts, video recording, driving data logging, and wireless uploads.
Great Wall Motor reported annual revenue of 222.79 billion yuan for 2025, an increase of 10.19% year-on-year; however, net profit attributable to shareholders was 9.912 billion yuan, a decrease of 21.71% year-on-year. During the reporting period, the company achieved growth in sales volume and operating revenue, but increased investments in building direct-to-consumer sales channels, along with intensified marketing for new models and technologies, led to the decline in net profit.
Great Wall Motor's autonomous driving systems are applied across various models, including the Wey Lanshan Intelligent Driving Edition, Tank 300, Haval H5, and H6. The Wey Lanshan Intelligent Driving Edition is equipped with the Great Wall Intelligent Driving 3.0 CoffeePilot Ultra system, which features advanced functions like map-free full-scenario Navigate on Autopilot and cross-floor memory parking.
In terms of year-on-year net profit growth, Beiqi Foton Motor, Lingyang Electric Control, SAIC Motor, Xiamen King Long Motor Group, and Zhejiang Asia-Pacific Mechanical & Electronic achieved profit growth exceeding 100%. Beiqi Foton Motor recorded the highest increase at 15.51 times. Wuhan Guide Infrared and NavInfo Co., Ltd. are expected to return to profitability.
Wuhan Guide Infrared forecasts a net profit attributable to shareholders between 700 million and 900 million yuan for 2025, indicating a return to profitability compared to the previous year. During the reporting period, previously delayed model-specific product deliveries resumed. Simultaneously, the company aggressively expanded into civilian markets, leading to a rapid release of demand for its infrared chip application business, with sales growth driving a corresponding increase in profits. Recently, Guide Infrared stated on an interactive platform that its subsidiary, Xuanyuan Zhijia, is progressing normally with a project for an autonomous Robotaxi company.
Technology sector gains investor favor this week! In the final week before the Lunar New Year holiday, the A-share market initially rose before declining, with the Shanghai Composite Index posting a cumulative gain of 0.41%, closing at 4082.07 points. On February 23rd, a weekly survey titled "Views on the Market in the First Week of the Year of the Horse" was released. The results indicated that investors generally experienced positive returns in the pre-holiday week, with 52% reporting profits. Among them, 46% reported gains within 10%. Regarding portfolio allocation, approximately 43% of investors reported being fully invested or fully invested with margin financing. In terms of allocation changes, 29% of investors increased their positions during the pre-holiday week, showing an increase from the previous period; 14% reduced their positions, a decrease from the previous period; while 55% maintained their existing positions, observing market developments.
On the last trading day before the holiday, A-share indices retreated from highs, declining by 1.26%. Following this brief adjustment, investors generally expressed optimism about the market's near-term direction. Survey data showed that 46% of investors believe the market will "continue rising, reclaiming the 4100-point level" this week, making it the most prevalent view; 41% expect the market to "fluctuate sideways between 4000 and 4100 points"; while 9% explicitly hold a bearish view, expecting the market to "decline, falling below the 4000-point level" this week.
From a sector perspective, the technology sector is the most favored this week, with 60% of respondents expressing optimism, a significant increase from the previous period; the non-ferrous metals sector followed at 13%, also showing an increase. In terms of specific themes, Artificial Intelligence, Memory Chips, Commercial Aerospace/Satellite Internet, Minor/Precious Metals, and Power Grids ranked highest, at 44%, 10%, 8%, 8%, and 5% respectively.
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