Zhejiang Shibao Company Limited (01057) saw its share price climb more than 9% during intraday trading before settling up 7.05% at HK$4.025, with turnover reaching HK$46.41 million.
The company released its 2026 interim results, reporting revenue of RMB 1.721 billion, up 12.9% year-on-year, while net profit attributable to shareholders of the listed company reached RMB 104 million, representing an 11.48% increase compared to the same period last year.
During the reporting period, the company benefited from the continued enhancement of its electrified and intelligent steering system products' competitiveness, an increasingly diversified product lineup, and a wealth of high-quality customer resources accumulated through its long-term commitment to first-tier automotive component supply. As a result, sales to key customers maintained steady growth.
Notably, the intelligent driving sector has received fresh catalysts. Reports indicate that Tesla has informed employees of preparations for the public launch of its Cybercab, marking the automaker's first vehicle without a steering wheel or brake pedals. According to reports, Tesla plans to debut the Cybercab to the public in Austin, Texas, with the launch potentially beginning as early as this month.
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