20CM Double-Board! Zhang Xue's motorcycle concept stocks surge

Recently, the team formed by the Chinese motorcycle manufacturer “Zhangxue Motorcycle” achieved “one battle, one divinity” at the Portuguese leg of the World Superbike Championship (WSBK). In the WorldSSP category, it successfully won the championship, realizing a historic breakthrough for Chinese motorcycle brands in this top-tier event, and breaking the decades-long monopoly in this category by international giants such as Ducati, Yamaha, and Kawasaki.

Driven by this news, related concept stocks have been heavily sought after in the market. Hongchang Technology, because it indirectly holds a 1.64% stake in Zhangxue Motorcycle through Zhechuang Jinyi Intelligent Control, posted two consecutive daily limit-up boards of “20cm” on the 30th and 31st, with high capital attention; Honquan Technology is the strategic cooperation partner and event sponsor of Zhangxue Motorcycle. It rose 10.73% on the 30th and closed up 16.26% on the 31st, with a strong uptrend for two consecutive days.

In addition to the two companies above, according to incomplete statistics, there are 4 other listed companies that are related to Zhangxue Motorcycle.

Data from Qixinbao shows that, based on the equity structure of Zhangxue Motorcycle (full name: “Chongqing Zhangxue Motorcycle Industrial Co., Ltd.”), founder Zhang Xue directly holds 73.39% of the shares, and through indirect shareholding collectively controls nearly 80% of the equity. Among institutional shareholders, Shanghai Gaoxin Lingzhi Venture Capital Partnership Enterprise and Chongqing Zhangxue Partner Enterprise Management Partnership Enterprise each hold 9.17%; Jinhua Zhechuang Jinyi Intelligent Control Venture Capital Partnership Enterprise holds 5.50%; and Hangzhou Zhechuang Baige Venture Capital Partnership Enterprise holds 2.75%.

At the listed company level, in addition to Hongchang Technology indirectly holding 1.64% through Zhechuang Jinyi Intelligent Control, Huaneng Power and Juhua Co., Ltd. also indirectly hold stakes through Zhechuang Venture’s shareholding in Zhechuang Jinyi Intelligent Control, but the proportion is unknown.

In terms of business cooperation, Honquan Technology and Dongpeng Beverage are sponsors for Zhangxue Motorcycle to participate in the competition. The former also received the title of “strategic cooperation partner” of Zhangxue Motorcycle; Hengbo Co., Ltd. is its supplier. Its 2025 semiannual report shows: “Successfully developed multiple market-competitive in-vehicle intelligent electronic products. Mass-production and R&D projects are spread across… well-known motorcycle and electric vehicle manufacturers at home and abroad, such as Kaive (Zhangxue Motorcycle).”

Market analysis believes that Zhangxue Motorcycle’s participation in events may bring business increments to related companies, but it is necessary to pay attention to how the event progresses and the actual effectiveness of cooperation, and the substantive impact on performance.

（Source: Eastmoney Research Center）