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Chinese maker of steering systems (steering gears, EPS) and other auto parts for domestic and global automakers.
Chinese maker of steering systems (steering gears, EPS) and other auto parts for domestic and global automakers.
Supplies steering systems under programmes awarded before a model launches, then per vehicle built, so volumes follow its carmaker customers' production. The same company is also listed in Shenzhen.
Moat: narrow (customer qualification, process know-how). Qualified steering supplier to major Chinese OEMs, but competes with larger global steering makers.
Headquarters: Wenzhou, China · Employees: 2,596
Size Zhejiang Shibao (1057.HK) is a Hong Kong Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.32B, the 525th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.29 on 6 Nov 2026.
Performance Over six months the shares fell 33.0%, against -17.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 22.2% over the last twelve months (peer median +12.2%); the operating margin is 3.8% (peer median 7.2%).
Valuation It trades at 2.3× enterprise value to sales against a peer median of 2.3× (11th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.3 points below its cost of capital (9.3% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$4.41B | HK$3.84B | HK$2.91B | HK$2.01B | HK$1.61B |
| Revenue growth | — | +32% | +45% | +25% | — |
| Gross profit | HK$859M | HK$678M | HK$582M | HK$388M | HK$286M |
| EBITDA | n/a | HK$279M | HK$256M | HK$174M | HK$87.0M |
| Net income | HK$208M | HK$196M | HK$162M | HK$85.3M | HK$18.4M |
| Free cash flow | HK$131M | HK$23.7M | -HK$104M | -HK$62.3M | HK$40.8M |
| Capital expenditure | HK$228M | HK$232M | HK$110M | HK$70.2M | HK$89.9M |
| Total debt | HK$437M | HK$383M | HK$276M | HK$440M | HK$446M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Zhejiang Shibao 1057.HK | $1.32B | -33% | +22% | 4% | 2.3× | 26.8% |
| Nexteer Automotive 1316.HK | $1.40B | -14% | +6% | 4% | 0.2× | -13.5% |
| Jtekt 6473.T | $3.82B | -1% | +4% | 5% | 0.4× | 1.2% |
| NSK 6471.T | $2.87B | -27% | +26% | 5% | 0.5× | 1.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1057.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.5% | -4.9% | 4th lowest of 21 |
| 6-month return | -33.0% | -17.8% | 3rd lowest of 21 |
| Distance from 52-week high | -55.5% | -43.9% | 3rd lowest of 21 |
| Revenue growth (TTM) | +22.2% | +12.2% | 5th highest of 20 |
| Operating margin | 3.8% | 7.2% | 8th lowest of 21 |
| EV / Sales | 2.3× | 2.3× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 26.8% | 1.4% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +25.6% | +8.7% | highest of 10 |
| Hurdle (Req g minus delivered) | +1.2 pp | -13.6 pp | 3rd most demanding of 10 |
| ROIC minus cost of capital | -0.3 pp | +0.5 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Shibao 1057.HK | Hong Kong | $1.32B | -33% | +22% | 4% | 2.3× | 26.8% | +25.6% |
| Wuxi Best Precision Machinery 300580.SZ | China | $1.32B | -40% | +12% | 16% | 5.0× | 20.8% | +10.1% |
| Kunshan Huguang Auto Harness 605333.SS | China | $1.32B | -16% | -2% | 2% | 1.4× | n/a | n/a |
| Zhejiang Fenglong Electric 002931.SZ | China | $1.30B | -31% | +2% | 0% | 15.9× | n/a | n/a |
| Longhorn Auto 301488.SZ | China | $1.29B | -32% | +34% | 2% | 3.5× | n/a | n/a |
| Jiangsu Bojun Industrial Technology 300926.SZ | China | $1.35B | -31% | +54% | 13% | 2.4× | n/a | n/a |
| Tong Yang Industry 1319.TW | Taiwan | $1.35B | -1% | -12% | 15% | 1.8× | -5.9% | +7.7% |
| ASK Automotive ASKAUTOLTD.NS | India | $1.28B | +35% | +39% | 9% | 2.5× | n/a | n/a |
| Varroc Engineering VARROC.NS | India | $1.28B | +40% | +22% | 6% | 1.3× | 29.9% | +15.1% |
| Jiangsu Yunyi Electric 300304.SZ | China | $1.27B | -19% | +14% | 17% | 3.0× | 17.1% | +23.4% |
| Hong Leong Asia H22.SI | Singapore | $1.26B | -40% | +17% | 9% | 0.4× | -12.9% | +2.9% |
| Adient ADNT | United States | $1.26B | -28% | +4% | 3% | 0.1× | -17.6% | +2.1% |
| Zhuzhou Times New Materials Technology 600458.SS | China | $1.39B | -17% | +1% | 2% | 0.8× | n/a | n/a |
| JBM Auto JBMA.NS | India | $1.24B | -21% | +16% | 9% | 2.2× | n/a | n/a |
| Nexteer Automotive 1316.HK | Hong Kong | $1.40B | -14% | +6% | 4% | 0.2× | -13.5% | +8.7% |
| Lingyun Industrial 600480.SS | China | $1.41B | -25% | +3% | 5% | 0.6× | -12.3% | +8.0% |
| SKF India (Industrial) SKFINDUS.NS | India | $1.23B | +9% | n/a | 11% | 3.3× | 36.9% | n/a |
| Xiangyang Automobile Bearing 000678.SZ | China | $1.22B | +53% | -3% | -3% | 6.0× | n/a | n/a |
| SEDEMAC Mechatronics SEDEMAC.NS | India | $1.42B | +56% | +61% | 15% | 13.0× | n/a | n/a |
| Ruifeng Power 2025.HK | Hong Kong | $1.22B | +29% | +4% | 1% | 8.3× | n/a | n/a |
| CIE Automotive India CIEINDIA.NS | India | $1.42B | -26% | +12% | 11% | 1.3× | 8.6% | +9.2% |