Analysis of Limit-Up Reasons and Market Impact of Zhejiang Shibao (002703)

This analysis is based on reports from tushare_zt_pool [0] and market analysis [1]. On December 16, 2025, Zhejiang Shibao (002703) hit the limit-up. The core catalyst for the limit-up was the MIIT’s approval of mass production for two L3-level autonomous driving models from Changan Automobile and BAIC New Energy, marking China’s entry into the commercialization stage of L3 technology [2]. As a leader in automotive steering systems, the company has laid out L3+ intelligent steering technology in advance and obtained fixed-point orders from car companies, directly benefiting from favorable industry policies [3]. On the same day, autonomous driving concept stocks broke out collectively; related targets such as Hanxin Technology and Wanji Technology rose synchronously, forming a sector linkage effect [4].

The limit-up of Zhejiang Shibao reflects the market’s high expectations for the commercialization of L3 autonomous driving, and the importance of steering systems as core components of autonomous driving has been strengthened. The company’s net profit in 2024 is expected to increase by 81.34% to 113.72%, and the resonance between fundamental growth and policy catalysis has driven the stock price up [1]. Sector linkage indicates that the market regards L3 technology as an industry turning point, and the related industrial chain may enter a period of high-speed growth.

: There are uncertainties in the pace of policy implementation and market penetration rate; the company faces technological competition from domestic and foreign steering system manufacturers; concept speculation may lead to short-term stock price fluctuations [1][3]. : L3 commercialization drives the growth in demand for intelligent steering systems; the company’s technical reserves and customer resources provide support for long-term development; favorable industry policies continue to be released [1][2][3].

The limit-up of Zhejiang Shibao stems from the combination of favorable L3 autonomous driving policies and its own technical advantages. Short-term trends need to focus on changes in trading volume and sustained sector enthusiasm; medium-term depends on the company’s L3-related order fulfillment and policy advancement; long-term depends on the market popularization speed of L3 technology and the company’s technical iteration capabilities. Investment decisions need to be comprehensively judged based on industry development trends and company fundamentals.