NEXTEER (01316) jumped nearly 6% during trading, reaching a high of HK$7.64, marking its highest level since February 2022. As of press time, the stock was up 5.83% to HK$7.63, with trading volume of HK$147 million.

Industry analysis indicates that with the increasing penetration of L3 and higher-level autonomous driving technology, the adoption rate of steer-by-wire systems is expected to rise correspondingly. The competitive landscape for steer-by-wire remains favorable, with currently only NEXTEER, Bosch, and ZF achieving mass production of steer-by-wire systems. Among these, NEXTEER holds more than half of the global market share in designated projects.

Market research shows that NEXTEER leads in wire control technology and accurately captures industry development trends. In the first half of the year, the company secured $1.5 billion in new orders, including domestic and overseas business from Chinese automakers, as well as dual-pinion EPS and rear-wheel steering orders from European automakers. The company maintains its annual order target of $5 billion unchanged.

The company is actively advancing its wire control chassis development, encompassing steer-by-wire, rear-wheel steering, electro-mechanical brake-by-wire, and Motion IQ software suite, precisely aligning with industry development trends to enhance competitiveness. Industry analysts expect the company to secure more wire control-related projects in the second half of the year.