Zhejiang Hongchang Electrical Technology Co., Ltd. (301008.SZ) saw its shares rise by the 20% daily limit to 35.24 yuan per share on March 30.
The surge followed a historic achievement by Chinese motorcycle manufacturer Zhangxue Motorcycle at the World Superbike Championship (WSBK) Portuguese round. Competing in the WorldSSP class, the manufacturer secured victories in both races of the event. Remarkably, this was only the team's second appearance in the championship, marking a significant breakthrough for a Chinese brand in WSBK.
In the first race on March 28 at the Algarve International Circuit, French rider Valentin Debise piloted the Zhangxue 820RR-RS bike to a dominant victory, finishing 3.685 seconds ahead of the competition. This result disrupted the long-standing dominance of manufacturers like Ducati and Yamaha in the category.
The victory quickly became a major topic online in China, trending across social media platforms. On the morning of March 30, a live stream on the "Zhangxue Motorcycle Official Flagship Store" channel on a popular short-video platform attracted over 6,000 concurrent viewers, with many inquiring about pricing, custom liveries, horsepower specifications, test drives, and branded merchandise.
Zhangxue Motorcycle had strategically targeted the European market. At the 2025 EICMA Milan Motorcycle Show, the company unveiled a full range of models tailored for Europe, including the 820RR super sport series powered by an 819cc three-cylinder engine producing 150 horsepower. At that time, the brand also announced its plans to compete in the 2026 WSBK season through a factory team partnership with the Italian Evan Bros Racing squad.
The brand's founder, Zhang Xue, had set an ambitious three-year goal: "Reach the podium in the first year, win a race in the second, and secure a championship in the third." This latest victory achieved the ultimate goal ahead of schedule. An emotional Zhang Xue commented, "I have waited twenty years for this moment. I want to tell my twenty-years-ago self: you succeeded."
Zhang Xue's journey in motorcycling began in 2006 when, at age 19, he gained public attention for riding over 100 kilometers in the rain to pursue a television crew, which led to an opportunity with a professional racing team. In 2013, he moved to Chongqing with minimal capital, starting by assembling, modifying, and selling motorcycles online to accumulate his first pot of gold. He co-founded Ka Yue Motorcycle in 2017, growing its annual sales from 800 to 30,000 units. After leaving that venture, he established his namesake company, Zhangxue Motorcycle, in Chongqing in April 2024. The brand's first model, the 500RR, was launched at the Chongqing Motorcycle Expo in September 2024, with the first deliveries commencing in March 2025.
At a 2026 partners conference, Zhang Xue disclosed company figures: total output value reached 750 million yuan in 2025, with R&D investment hitting 69.58 million yuan, accounting for 9.33% of sales revenue. The company reported a net loss of 22.78 million yuan for the same period.
Corporate records show Zhangxue Motorcycle has a registered capital of 65.4 million yuan, with Zhang Xue holding a 73.39% stake. In early March, the company completed its Series A funding round. Reports indicate the round raised 90 million yuan, valuing the company at approximately 1.09 billion yuan post-investment.
The investment was led by Jinhua Zhechuang Jinyi Zhikong Venture Capital Partnership and Hangzhou Zhechuang Baige Venture Capital Partnership. Both investment entities have Zhejiang Venture Capital Group as their executive partner.
Notably, Zhejiang Hongchang Electrical Technology Co., Ltd. holds a 29.82% stake in the Jinhua Zhechuang fund. Hongchang's primary businesses include home appliance components, automotive parts, molds, automation equipment, and robotics. Its automotive division focuses on the R&D, production, and sales of automotive interior trim products.
In a related development, A-share listed company Hangzhou Hopechart Iot Technology Co.,Ltd. (688288.SH) announced via its official WeChat account in February 2026 that it had been named a "Strategic Partner" by Zhangxue Motorcycle and would sponsor the team's campaign in the 2026 WSBK season. This recognition was based on Hopechart's expertise in intelligent connectivity solutions for two-wheeled vehicles.
Hangzhou Hopechart Iot Technology Co.,Ltd. specializes in the R&D, production, and sales of intelligent connected vehicle products, smart cockpit systems, controllers, and software platform development. According to its preliminary financial results, the company achieved revenue of 698 million yuan in 2025, a year-on-year increase of 33.37%, and reported a net profit attributable to shareholders of 29.43 million yuan, turning a profit compared to the loss in the previous year.
Likely influenced by Zhangxue Motorcycle's championship victory, shares of Hangzhou Hopechart Iot Technology Co.,Ltd. experienced a sharp rise in the afternoon trading session, closing at 26.69 yuan per share, up 12.28%.