Zhejiang Shibao Company Limited is a leading OEM supplier of automotive steering system in the PRC. The Company’s H Shares were listed on the GEM of the Exchange on 16 May 2006 and were transfer listed on the Main Board of the Exchange on 9 March 2011, and its stock code is 1057.HK.? The Company’s A Shares were listed on Shenzhen Stock Exchange on 2 November 2012, and its stock code is 002703.
Zhejiang Shibao has committed itself to the research and development of automotive steering technologies and products and mainly engaged in the develop, design, manufacture and sales of automotive steering gears and other key components and parts of steering system, and accumulating extensive industry experience in the PRC. The Company is one of the early movers in the development of hydraulic power steering gears in the PRC, and also the early domestic enterprise having built the capacity of independent mechanical-electrical integration technologies and volume production of electric power steering (EPS) system.
Mr. Zhang Shi Quan, the founder of the Company and Chairman, entered into the manufacture of automotive steering gear products in 1984, and established Zhejiang Shibao Steering Gear Co., Ltd., the predecessor of the Company in Yiwu, Zhejiang Province in 1993, which was reorganized into a joint stock company in 2004.
The Company has established manufacturing and research bases in Hangzhou and Yiwu, Zhejiang Province, Siping, Jilin Province, Wuhu, Anhui Province and Beijing respectively, and supply four types of steering products to large automakers: power recirculating ball steering gear for use in light, medium and heavy duty trucks and buses, power rack-and-pinion steering gear and steering knuckle for use in passenger cars and EPS system for use in energy-saving and new energy vehicles (with own intellectual property rights).
The Company has a large and reputable customer base of automakers, including FAW, DFM, JAC, Kinglong Bus, Foton, Chery, Geely and Iran Saipa Automotive Group.? The Company also is the core supplier of FAW Car and the qualified supplier of FAW-VW. ?In order to develop aftermarket sales, the Company has also set up aftermarket sales network that covers major areas in the PRC.
The Company has rich OEM experiences, strong R&D and design capacity and adopted lean production system. By continuously investing on research and development, the Company is capable of joint-design with the local and international vehicle design team. The Company's business objective is to be an outstanding steering system supplier as well as reliable and long-term partner of China and International leading automakers.