ZHEJIANG SHIBAO (01057) surged over 5% during trading session. As of press time, the stock gained 5.03% to HK$5.22 with turnover reaching HK$39.09 million.
On the news front, ZHEJIANG SHIBAO recently indicated during an analyst meeting that the company has deep technical reserves in steer-by-wire and rear-wheel steering technologies, having secured designations from multiple mainstream automotive manufacturers. The company's first mass production project for steer-by-wire technology is expected to commence production in the second half of 2026, while the first mass production project for rear-wheel steering is anticipated to begin in the fourth quarter of this year.
These two product categories primarily target L3+ autonomous driving vehicles and high-performance luxury vehicles respectively, featuring high technical barriers and broad market prospects.
CITIC Securities believes that regulatory authorities are increasingly focused on the safety aspects of autonomous driving, with L2-level driver assistance facing stricter regulatory requirements from promotional to operational levels. Against this backdrop, L3 is expected to become the primary upgrade direction for intelligent driving from Q4 2025 to 2026.
Commercial L3 solutions require high system safety redundancy, which is expected to significantly increase the per-vehicle value of intelligent driving chips, domain controllers, LiDAR and millimeter-wave sensors, automotive SerDes, and low-voltage power supplies, thereby creating new investment opportunities.
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