China Automotive Systems

China Automotive Systems, Inc. is a holding company, which engages in the manufacture and sale of automotive products, through its subsidiaries. It operates through the following geographical segments: Henglong, Jiulong, Shenyang, Wuhu, Hubei Henglong, Henglong KYB, and Other Entities. It also supplies power steering systems and component. The company was founded on June 29, 1999 and is headquartered in Wuhan, China.

Earnings data Q1 2021

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

China Automotive Systems (CAAS) excels in Q2 amidst market challenges

China Automotive Systems (CAAS) delivered robust Q2 2024 results, driven by strong sales growth and profitability despite market challenges.
The company's focus on EPS products, dividend declaration, and revenue guidance reaffirm its financial stability and strategic direction.
While navigating market headwinds, CAAS has opportunities to capitalize on positive industry trends, strengthen customer relationships, and drive innovation for long-term success.

China Automotive Systems (CAAS) reports resilient Q3 performance in domestic markets

China Automotive Systems (CAAS) demonstrated resilience and growth in key domestic markets despite challenges in international sales. The company's focus on operational efficiency led to improved operating income and a solid gross margin. To sustain momentum, CAAS should capitalize on opportunities within China's evolving automotive landscape.

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WUHAN, China , Nov. 18, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that its board of directors approved a share repurchase program of up to $5 million of its outstanding common shares periodically over the next 12 months. Repurchases will be made in open market transactions, at prevailing market prices not to exceed $5.50 per share through November 15, 2025, subject to applicable laws, regulations and approvals.

China Automotive Systems Announces Share Repurchase Program Up To $5 Million

China Automotive Systems, Inc. (NASDAQ:CAAS ) Q3 2024 Earnings Conference Call November 13, 2024 8:00 AM ET Company Participants Kevin Theiss - IR Jie Li - CFO Conference Call Participants Operator Greetings. Welcome to the China Automotive Systems Third Quarter 2024 Conference Call.

China Automotive Systems, Inc. (CAAS) Q3 2024 Earnings Call Transcript

WUHAN, China , Nov. 13, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2024. Third Quarter 2024 Highlights Net sales rose 19.4% year-over-year to $164.2 million from $137.5 million in the third quarter of 2023.

China Automotive Systems Reports Sales Increased by 19.4% in the Third Quarter of 2024

WUHAN, China , Nov. 4, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the third quarter ended September 30, 2024, on Wednesday, November 13, 2024, before the market opens. Management will conduct a conference call on November 13 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2024 Third Quarter Financial Results on November 13, 2024

CAAS announces the conference call and webcast information for the Annual Meeting of Stockholders to be held on Tuesday, September 24, 2024 at 9:00 AM local time, or 9:00 PM EDT on Monday, September 23, 2024 WUHAN, China , Sept. 16, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that the Annual Meeting of Stockholders of China Automotive Systems, Inc. will be held on Tuesday, September 24, 2024 at 9:00  am local time at the Second Floor Meeting Room, D8 Henglong Building, Optics Valley Software Park, No.

China Automotive Systems Announces Annual Meeting on September 24, 2024

WUHAN, China , Aug. 13, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2024. Second Quarter 2024 Highlights Net sales rose 15.4% year-over-year to $158.6 million from $137.4 million in the second quarter of 2023.

China Automotive Systems Reports Income From Operations Increased by 38.7% in the Second Quarter of 2024

WUHAN, China , Aug. 2, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the second quarter ended June 30, 2024, on Tuesday, August 13, 2024, before the market opens. Management will conduct a conference call on August 13 th at 7:00 A.M.

China Automotive Systems to Announce Unaudited 2024 Second Quarter Financial Results on August 13, 2024

China Automotive Systems had a phenomenal 1Q24 with a 17% EPS increase, leading to a 19% stock increase after announcing a one-time $0.80 dividend per share. CAAS stock is undervalued, trading at 5.4x EBIT and a 74% discount to its book value, with strong revenue and margin growth. CAAS has potential for growth with increasing demand for EVs, unique electric power steering solutions, and favorable market conditions, making it a BUY opportunity worth at least $7.50 per share.

China Automotive Systems: 74% Discount To Book Value, Great Earnings

- Celebrating 20th Anniversary of NASDAQ Listing - WUHAN, China , July 19, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that the Board of Directors has declared a special cash dividend of US$0.80 per common share.  The special cash dividend is payable on or about August 22, 2024 to shareholders of record as of the close of business on Tuesday, July 30, 2024.

China Automotive Systems Announces Special Cash Dividend

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China Automotive System stock is cheap and unnoticed, facing political and economic challenges hindering sales. CAAS stock has shown positive momentum recently due to China's strategies and investments in domestic vehicle makers. The company's financial 2023 performance was positive, with record net sales and diluted net income per share but Q1 '24 was a disappointing report.

China Automotive Systems. Goes Unnoticed For Too Long

China Automotive Systems, Inc. (NASDAQ:CAAS ) Q1 2024 Earnings Conference Call May 14, 2024 8:00 AM ET Company Participants Kevin Theiss - Investor Relations Jie Li - Chief Financial Officer Conference Call Participants Jonathan Yudis - Private Investor Margaret Wilson - EYI Independent Operator Good morning, everyone. Welcome to China Automotive Systems First Quarter 2024 Conference Call.

China Automotive Systems, Inc. (CAAS) Q1 2024 Earnings Call Transcript

WUHAN, China , May 14, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Net sales were $139.4 million Gross profit increased by 11.6% to $24.1 million with a gross margin of 17.3%, compared with $21.6 million of gross profit and a 15.2% gross margin in the first quarter of 2023 Income from operations increased by 26.0% to $9.7 million compared with $7.7 million in the first quarter of 2023 Diluted income per share increased by 17.4% to $0.27, compared to diluted income per share of $0.23 in the first quarter of 2023 Cash, cash equivalents, and short-term investments were $135.8 million as of March 31, 2024 Net cash provided by operating activities was $10.5 million in the first quarter of 2024 compared to net cash used of $1.4 million in the first quarter of 2023.

China Automotive Systems Reports 17.4% Increase in Earnings Per Share in the First Quarter of 2024

WUHAN, China , May 7, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the first quarter ended March 31, 2024, on Tuesday,  May 14, 2024, before the market opens.  Management will conduct a conference call on May 14 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2024 First Quarter Financial Results on May 14, 2024

China Automotive Systems, Inc. (CAAS) Q4 2023 Earnings Call Transcript

-  Electric Power Steering ("EPS") Sales Increased by 24.6% in 2023 - WUHAN, China , March 28, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the fourth quarter and the audited results for the fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights Net sales increased by 23.6% year-over-year to $159.2 million Gross profit increased by 38.8% to $34.7 million from $25.0 million.

China Automotive Systems Reports Record Annual Revenue, and a 81.2% Increase in Diluted Net Income Per Share to $1.25 in Fiscal Year 2023

WUHAN, China , March 15, 2024 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the fourth quarter ended December 31, 2023, on Thursday, March 28, 2024, before the market opens. Management will conduct a conference call on March 28 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2023 Fourth Quarter and Audited 2023 Year Financial Results on March 28, 2024

China Automotive Systems, Inc. (NASDAQ:CAAS ) Q3 2023 Earnings Conference Call November 10, 2023 8:00 AM ET Company Participants Kevin Theiss - IR Jie Li - CFO Conference Call Participants Operator Good morning, everyone, and welcome to the China Automotive Systems' Third Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode and the floor will be open for questions after the presentation.

China Automotive Systems, Inc. (CAAS) Q3 2023 Earnings Call Transcript

WUHAN, China , Nov. 10, 2023 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2023. Third Quarter 2023 Highlights Net sales increased slightly to $137.5 million, compared to $137.2 million in the third quarter of 2022.

China Automotive Systems Reports a 29.2% Increase in Diluted Earnings Per Share Growth in the Third Quarter of 2023

WUHAN, China , Nov. 3, 2023 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the third quarter ended September 30, 2023 on Friday, November 10, 2023, before the market opens.  Management will conduct a conference call on November 10 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2023 Third Quarter Financial Results on November 10, 2023

CAAS announces the conference call and webcast information for the Annual Meeting of Stockholders to be held on Wednesday, August 30, 2023 at 9:00 AM local time, or 9:00 PM EDT on August 29, 2023 WUHAN, China , Aug. 22, 2023 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced the Annual Meeting of Stockholders of China Automotive Systems, Inc. will be held on Wednesday, August 30, 2023 at 9:00 AM local time at the Second Floor Meeting Room, D8 Henglong Building, Optics Valley Software Park, No. 1 Guanshan First Avenue, Wuhan City, Hubei Province, the People's Republic of China.

China Automotive Systems Announces Annual Meeting on August 30, 2023

China Automotive Systems, Inc. (NASDAQ:CAAS ) Q2 2023 Earnings Call Transcript August 11, 2023 8:00 AM ET Company Participants Kevin Theiss - IR Jie Li - CFO Operator Greetings, and welcome to the China Automotive Systems Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode.

China Automotive Systems, Inc. (CAAS) Q2 2023 Earnings Call Transcript

WUHAN, China , Aug. 11, 2023 /PRNewswire/ -- China Automotive Systems, Inc. (NASDAQ: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2023. Second Quarter 2023 Highlights Net sales rose 8.1% year-over-year to $137.4 million from $127.2 million in the second quarter of 2022.

China Automotive Systems Reports 90.0% Increase in Net Income Per Share to $0.57 in the First Six Months of 2023

WUHAN, China , Aug. 3, 2023 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that it will issue unaudited financial results for the second quarter ended June 30, 2023 on Friday, August 11, 2023, before the market opens.  Management will conduct a conference call on August 11 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2023 Second Quarter Financial Results on August 11, 2023

China Automotive Systems is considered a bullish investment opportunity due to its strong position in the automotive industry and the growing demand for its products, especially in the electric vehicle sector. The company's share price has increased by 86% over the year, with further growth expected due to China's commitment to green vehicles and maybe improving trade relations with the West. Despite potential risks such as political and trade tensions, seasonal fluctuations in the auto parts business, and competition, the company's strong customer base and cash flow make it a promising investment.

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