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, May 23, 2022 /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, 2022. First Quarter 2022 Highlights Net sales increased by 4.7% to $136.4 million from $130.3 million in the first quarter of 2021 Gross profit was $14.7 million with a gross margin of 10.8%, compared with $19.7 million and a 15.1% gross margin in the first quarter last year Loss from operations was $1.5 million compared with income from operations of $4.2 million in the first quarter of 2021 Net loss attributable to parent company's common shareholders was $0.06 million, or diluted loss per share of nil, compared to net income attributable to parent company's common shareholders of $3.2 million, or diluted income per share of $0.10 in the first quarter of 2021 Cash and cash equivalents, and pledged cash were $109.4 million as of March 31, 2022 Mr.

China Automotive Systems Reports Unaudited 2022 First Quarter

WUHAN, China, May 18, 2022 /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, 2022, on Monday, May 23, 2022, before the market opens. Management will conduct a conference call on May 23 rd at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2022 First Quarter Financial Results on May 23, 2022

WUHAN, China , May 13, 2022 /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 has extended it's 2022 first quarter filing date to May 23, 2022. The Chinese Government's response to COVID-19 in April, 2022, resulted in several of CAAS's subsidiaries in Shengyang, Wuhu and Shanghai being locked down.

China Automotive Systems Extends Filing Date of 2022 First Quarter Report to May 23

-  CAAS's board of directors approved a share repurchase program of up to $5 million of its outstanding common shares periodically over the next 12 months - WUHAN, China , April 11, 2022 /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 $4.00 per share through March 30, 2023, subject to applicable laws, regulations and approvals.

China Automotive Systems Announces Share Repurchase

China Automotive Systems, Inc. (CAAS) Management on Q4 2021 Results - Earnings Call Transcript

China Automotive Systems (CAAS) delivered earnings and revenue surprises of 166.67% and 10.07%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

China Automotive Systems (CAAS) Beats Q4 Earnings and Revenue Estimates

China Automotive Systems Inc (NASDAQ: CAAS) reported a fourth-quarter FY21 sales decline of 5.3% year-on-year, to $138.8 million, beating the estimate of $126.1 million. The gross profit margin contracted by 140 basis points Y/Y to 14.2%, and the gross profit declined 13.6% to $19.7.

China Automotive Systems Clocks 5.3% Sales Decline In Q4

WUHAN, China, March 30, 2022 /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, 2021. Fourth Quarter 2021 Highlights Net sales declined by 5.3% to $138.8 million from $146.5 million in the fourth quarter of 2020 Gross margin was 14.2% compared with 15.6% in the fourth quarter of 2020 Income from operations was $0.6 million compared to loss from operations of $4.0 million in the fourth quarter of 2020 Net income attributable to parent company's common shareholders was $5.0 million, or diluted net income per share of $0.16, compared to a net loss of $3.2 million, or diluted loss per share of $0.10 in the fourth quarter of 2020.

China Automotive Systems Reports Fourth Quarter and Fiscal Year 2021 Results

WUHAN, China, March 16, 2022 /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, 2021, on Wednesday, March 30, 2022, before the market opens.  Management will conduct a conference call on March 30 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2021 Fourth Quarter and Audited 2021 Year Financial Results on March 30, 2022

China Automotive Systems Inc (NASDAQ: CAAS) has entered into an agreement to develop eRCB steering systems for SCANIA AB's trucks and buses. The eRCB steering system is a fully electric intelligent steering system for light- and medium-duty trucks and heavy-duty commercial vehicles.

China Automotive Systems Inks Supply Contract With SCANIA

WUHAN, China, Jan. 25, 2022 /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 has entered into an agreement with SCANIA AB ("SCANIA") to develop eRCB steering systems for SCANIA's trucks and buses. Built upon CAAS' proprietary technology and innovative knowledge coupled with CAAS' advanced  driver-assistance systems ("ADAS") L4 platform, named AP04, this eRCB steering system is a fully electric intelligent steering system for light- and medium-duty truck and heavy-duty commercial vehicles.

China Automotive Systems Signs Supply Contract with SCANIA

China Automotive Systems, Inc. (CAAS) Q3 2021 Results - Earnings Call Transcript

WUHAN, China, Nov. 12, 2021 /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, 2021.  Third Quarter 2021 Highlights Net sales decreased 5.4% to $108.2 million compared with $114.4 million in the third quarter of 2020; Electric power steering ("EPS") product sales increased by 76.0% to $29.4 million; Gross profit increased 23.5% to $16.8 million and gross margin increased to 15.5% from 11.9% in the third quarter of 2020; Income from operations was $0.6 million compared with income from operations of $0.1 million in the third quarter of 2020; Net loss attributable to parent company's common shareholders was $0.3 million, or diluted loss per share of $0.01, compared to net income attributable to parent company's common shareholders of $2.4 million, or diluted earnings per share of $0.08, in the third quarter of 2020.

China Automotive Systems Reports Unaudited 2021 Third Quarter Results

WUHAN, China, Nov. 5, 2021 /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, 2021, on Friday, November 12, 2021, before the market opens.  Management will conduct a conference call on November 12 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2021 Third Quarter Financial Results on November 12, 2021

China Automotive Systems (CAAS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate China Automotive Systems (CAAS) to Report a Decline in Earnings: What to Look Out for

China Automotive Systems (CAAS) delivered earnings and revenue surprises of 42.86% and 2.05%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

China Automotive Systems (CAAS) Q2 Earnings and Revenues Beat Estimates

The shares of China Automotive Systems, Inc. (NASDAQ: CAAS) increased by over 7% pre-market. This is why it happened.

China Automotive Systems Shares Increase Over 7% Pre-Market: Why It Happened

WUHAN, China, Aug. 12, 2021 /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, 2021. Second Quarter 2021 Highlights Net sales rose 45.0% to $120.6 million from $83.2 million in the second quarter of 2020; Gross profit increased 102.6% to $15.8 million from $7.8 million in the second quarter of 2020; gross margin was 13.1% compared with 9.4% in the first quarter of 2020; Income from operations was $0.1 million, compare to a loss of $5.2 million in the second quarter of 2020; Net income attributable to parent company's common shareholders was $3.2 million, or diluted earnings per share of $0.10, compared to a net loss attributable to parent company's common shareholders of $4.1 million in the second quarter of 2020.

China Automotive Systems Reports 45.0% Net Sales Increase in the Second Quarter of 2021

WUHAN, China, Aug. 10, 2021 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS), 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, 2021, on Thursday, August 12, 2021, before the market opens. Management will conduct a conference call on August 12 th at 8:00 A.M.

China Automotive Systems to Announce Unaudited 2021 Second Quarter Financial Results on August 12, 2021

China Automotive Systems (CAAS) to Report Q2 Results: Wall Street Expects Earnings Growth

WUHAN, China, July 19, 2021 /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. (the "Company") will be held on Wednesday, July 28, 2021 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 Conference Call on July 28, 2021

WUHAN, China, July 12, 2021 /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 wholly owned subsidiary, Hubei Henglong Automotive Systems Group Co. Ltd. ("Henglong"), received the SGS TÜV ISO26262:2018 ASIL-D certification.

China Automotive Systems Receives SGS TÜV Certification

Stellantis N.V. 

China Automotive Systems Inc (NASDAQ: CAAS) is developing a new steering system for Milan-based Alfa Romeo, a subsidiary of Dutch automotive manufacturing company Stellantis NV (NYSE: STLA).  The steering system is for Alfa Romeo's first luxury plug-in-hybrid SUV model, 2021 Tonale.

China Automotive Develops New Steering System For Alfa Romeo's Hybrid SUV

WUHAN, China, July 6, 2021 /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 has entered into the OTOP (Off Tool Off Process) phase of new steering development for the leading European auto brand, Alfa Romeo. This new steering system under development is for Alfa Romeo's first luxury plug-in-hybrid SUV model, 2021 Tonale.

China Automotive Systems Develops New Steering System for Alfa Romeo's First Subcompact Crossover EV

WUHAN, China, June 9, 2021 /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 wholly owned subsidiary, Hubei Henglong Automotive Systems Group Co. Ltd. ("Henglong"), purchased a 40% interest in the issued share capital of Sentient AB ("Sentient"), a Swedish automotive technology company specializing in software development and hardware design for advanced steering functions, vehicle motion control and autonomous driving.

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