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ˇˇˇˇZhejiang Shibao Holding Group Co., Ltd. was founded in 1984 and started its business from the automotive steering gear then expanded to the automotive braking system. Its head office is located in the state-level Hangzhou Economic and Technological Development Zone. In 2004, the Group reorganized its automotive steering business to Zhejiang Shibao Co., Ltd..

ˇˇˇˇa total of approximately 1500 employees and 353,000 square meters of land, and total assets exceeding RMB1 billion. It has eight subsidiaries located in Beijing, Hangzhou, Siping, Changchun, Wuhu and Yiwu respectively. Shibao regards ˇ°Be Practical and Innovativeˇ± as its business philosophy, pays attention to the quality and sustainable growth and encourages technology innovation. The company has also introduced Japanese lean production to its plants in a flexible and efficient way.