Zhejiang Shibao plans private placement of nearly 1.4 billion yuan to expand into steer-by-wire and other smart driving businesses

Corporate Action
โดย 上海证券报·CN·Read original
Summary · why it matters

Zhejiang Shibao announced plans to issue A-shares to targeted investors, raising no more than 1.394 billion yuan, with a focus on smart businesses such as automotive steer-by-wire and corner module systems. The net proceeds from this private placement will be used in five major areas, among which the industrialization construction project for automotive steer-by-wire systems is planned to invest 562 million yuan, making it the largest project by investment scale. Upon completion, it will add annual production capacity of 300,000 units of passenger vehicle steer-by-wire systems. The company stated that currently, automotive steering systems are still dominated by electric power steering, with foreign brands holding the major market share. However, in the steer-by-wire field, domestic brands and foreign brands are basically at the synchronous development stage, and leveraging the advantages of China's new energy vehicle industry, there is hope to achieve a corner overtaking. Another project, the industrialization construction project for a new generation of intelligent upper steering systems for passenger vehicles, plans to invest 438 million yuan to meet the growing demand from customer designated projects and mass production. In addition, the company will invest 100 million yuan in the intelligent technology transformation project for automotive electronic PPK products, and 93.7 million yuan in the project for the construction and upgrading of research and development capabilities for steer-by-wire and corner module systems. Zhejiang Shibao stated that these fundraising projects are expected to accelerate the industrialization and capacity building of products such as steer-by-wire.

Impact on stocks 1

Others▲ · 1 stocks

Theme Impact 1

Related news

▲3

Subaru Partners With onsemi to Evaluate Embedded Power Platform for Future EVs

Subaru has entered a strategic collaboration with onsemi to evaluate its Embedded Power Platform, a step toward integrating next-generation power architectures into future electric vehicles. Under the partnership, Subaru gains early access to engineering samples and technical expertise as it assesses whether onsemi's power semiconductor integration can deliver scalable, efficient solutions for vehicle electrification. The two companies said the work will explore how a more integrated power system design can improve vehicle performance, efficiency and design flexibility as automakers expand their electrified lineups. The collaboration was announced by onsemi on GlobeNewswire.
7270.JP ▲ON ▲
Semiconductors ▲Electrification & Mobility ▲
Simply Wall St·20hRead more →
▼

Musk Signals Deeper Tesla SpaceX Ties and Terafab Chip Push

Tesla CEO Elon Musk signalled closer operational ties with SpaceX, including potential corporate integration, during recent public comments. Musk highlighted a joint Terafab semiconductor manufacturing effort aimed at supplying custom chips for Tesla vehicles and energy products, and teased the upcoming Tesla Roadster reveal as a showcase for new technology that could leverage SpaceX-related engineering. The hinted Tesla SpaceX integration, the Terafab chip effort and the Roadster technology are only one part of Tesla's broader story, alongside its large electric vehicle operation and its energy storage and generation business. The Terafab partnership and talk of deeper SpaceX integration strengthen the part of the Tesla thesis that relies on tight vertical integration for AI hardware and software, pointing in the same direction as the robotaxi and Optimus plans, where the story depends on owning the full stack rather than relying on external chip suppliers like Nvidia. The news also leans into risks analysts already flag around heavy AI capex, execution complexity and regulatory friction, with a merger or deeper tie-up adding governance and integration questions on top of existing concerns about slower product ramps and already high spending, while competitors such as Mercedes-Benz or BYD keep pushing more conventional EV strategies.
TSLA ▲SPCX ▲NVDA ▼
Electrification & Mobility Artificial Intelligence Semiconductors
Simply Wall St·23hRead more →

Elmos Semiconductor Extends Dortmund Wafer Fab Supply Deal Through 2028

Elmos Semiconductor SE has extended its supply agreement for the Dortmund wafer fab, securing significantly increased capacity at the site until at least 2028. The Leverkusen-based maker of mixed-signal semiconductors for the automotive industry said the additional capacity from Dortmund complements its existing agreements with foundry partners, supporting its fabless strategy. CEO Dr. Arne Schneider called the extension a highly attractive solution that strengthens supply reliability amid strong global demand for semiconductor manufacturing capacity. The company pointed to structurally rising semiconductor content in vehicles, driven by electrification, autonomous and assisted driving, connectivity and digitalization, as well as sharply higher demand for high-voltage wafer capacity from data center and AI infrastructure expansion. Elmos said it is pursuing the added capacity at an early stage to increase available wafer supply and reinforce its supply chain resilience.
ELG.XETRA ▲
Semiconductors Electrification & Mobility
NewMediaWire·1dRead more →
© 2026 MarketDXNews