Zhejiang Shibao Company Limited is listed on The Stock Exchange of Hong Kong Limited Growth Enterprise Market.It is engaged in the development and manufacturing of automotive steering gears and accumulated over twenty years of experiences in the China market.It is one of the early movers in the PRC to engage in the development of power steering gears, and is the earliest mover in the PRC that established capability of developing and manufacturing of electronic power steering gear.
Mr. Zhang Shi Quan, founder and Chairman of Zhejiang Shibao, entered into steering components manufacturing business back to 1984 and formed Zhejiang Shibao Steering Gear Co., Ltd. in 1993.In 2004, the company completed share-holding reforming process, and transformed to the current Zhejiang Shibao Company Limited.
Zhejiang Shibao experienced fast growth in the past years.Its Yiwu Plant has been expanded; Hangzhou Plant was brand-newly built; Siping Plant was built through an acquisition, a joint-venture plant with CHERY AUTO was formed next door to CHERY plant.This resulted in a consolidated annual production capacity of 1,000,000 units of steering gear parts and components for Zhejiang Shibao, and is expected to be doubled the capacity by 2010.Major customers of Zhejiang Shibao include FAW Group, DFM Group, Hubei Sanhuan, Yunan Lifan, JAC, Konglong Buses, Chery Auto, FAW Car and FAW-VW etc..
Shibao services automobile manufacturers with four core products, which are manual and power re-circulating ball steering gear assembly used in trucks and buses, manual and power rack-and-pinion steering gear assembly, steering knuckle assembly and electronic power steering system (developed with proprietary intellectual rights, featured for energy saving and environmental friendly) used in passenger cars.
Shibao accumulated extensive business experiences with OEMs and strong product development capability, and implemented Toyota Production System (TPS).It is our objective to become a leading enterprise in the automotive parts and components industry in the PRC.In the near future, we aim to enter the global procurement market and become a major steering system component supplier of the world’s leading automobile manufacturers.
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