Zhejiang Shibao (01057) released its interim results, with a net profit attributable to shareholders of 104 million yuan, an increase of 11.48% year-on-year.

Zhejiang Shibao (01057) announced its interim results for the six months ending June 30, 2026. The group achieved operating revenue of RMB 1.721 billion, an increase of 12.9% year-on-year; the net profit attributable to shareholders of the listed company was RMB 104 million, up 11.48% year-on-year; and basic earnings per share were RMB 0.1261. During the reporting period, benefiting from the continued enhancement of the competitiveness of the company's electrified and intelligent steering system products, an increasingly rich product line, and the company's long-term commitment to accumulating high-quality client resources in the primary automotive supply industry, sales to major customers have maintained growth. In the reporting period, the gross profit from main business operations was RMB 297 million, an increase of RMB 44.4773 million year-on-year. The gross profit margin for main business operations was 17.68% (compared to 16.95% in the same period last year). For the overall reporting period, the company's overall gross profit margin was 18.90% (compared to 18.01% in the same period last year). The increase in the company's gross profit margin was mainly due to continuous cost reduction and efficiency enhancement measures improving costs, as well as the steady growth of sales of new products with higher gross margins.