China Automotive Systems, Inc. (CAAS) - NASDAQ
  • Thu, May 12, 7:10 AM
    • China Automotive Systems (NASDAQ:CAAS) reports sales fell 5.3% in Q1 mainly due to decreased auto sales in a weak economic environment and the impact of foreign currency translation.
    • Gross margin rate improved 40 bps to 18% driven by change in product mix toward higher-margin advanced products.
    • Selling expense rate grew 80 bps to 3.7%.
    • Operating margin rate declined 160 bps to 6%.
    • The company reaffirms revenue guidance of $450M for FY2016.
    | Thu, May 12, 7:10 AM
  • Wed, Mar. 30, 6:25 AM
    • China Automotive Systems (NASDAQ:CAAS) reports sales declined 11.2% in Q4 mainly due to decreased auto sales in a weak economic environment.
    • Gross margin rate fell 90 bps to 16.8% as a result of weaker unit volume sales and a lower average selling price.
    • Selling expense rate improved 10 bps to 3.3% for the period.
    • Operating margin rate dropped 100 bps to 5.9%.
    • The company expects revenue of $450M for FY2016.
    | Wed, Mar. 30, 6:25 AM
  • Tue, Feb. 16, 12:46 PM
    | Tue, Feb. 16, 12:46 PM | 2 Comments
  • Nov. 12, 2015, 9:12 AM
    • China Automotive Systems (NASDAQ:CAAS) reports sales fell 11% mainly due to the decreased auto sales in a weak economic environment in Q3.
    • Gross margin rate decreased 270 bps to 17.5% due to weaker unit volume sales and lower average selling price adjustment.
    • Selling expense rate remained constant at 3.7%.
    • Operating margin rate declined 321 bps to 5.45%.
    • The company expects revenue growth for FY2015 to be flat Y/Y.
    • CAAS -6.55% premarket.
    | Nov. 12, 2015, 9:12 AM | 3 Comments
  • Aug. 13, 2015, 7:38 AM
    • China Automotive Systems (NASDAQ:CAAS) reports sales to North America increased 15.2% Y/Y.
    • Gross margin rate increased 130 bps to 20%.
    • Selling expense rate remained constant at 3.7%.
    • Operating margin rate fell 20 bps to 7.6%.
    • The company expects revenue growth for FY2015 to be flat Y/Y.
    • Q2 results
    | Aug. 13, 2015, 7:38 AM
  • May 14, 2015, 7:23 AM
    • China Automotive Systems (NASDAQ:CAAS) reports sales rose 8% mainly due to higher sales to the Chinese passenger vehicle markets including an increase in the sale of higher-priced, middle-level electric power steering units.
    • Sales to North America increased 9.5% Y/Y.
    • Gross margin rate fell 110 bps to 17.6%.
    • Selling expense rate grew 20 bps to 2.9%.
    • Operating margin rate -90 bps to 7.6%.
    • FY2015 Guidance: Revenue growth of 10% is forecast for the full year.
    • Q1 results
    | May 14, 2015, 7:23 AM
  • Mar. 26, 2015, 6:53 AM
    • China Automotive Systems (NASDAQ:CAAS) reports sales rose 4.7% mainly due to the growth of the Chinese passenger vehicle market and the strong growth in sales of mid-level electric power steering units in Q4.
    • Gross margin rate increased 40 bps to 17.7%, primarily due to greater sales volume.
    • Selling expense rate grew 50 bps to 3.4%.
    • Operating margin rate +30 bps to 6.9%.
    • FY2015 Guidance: Revenue growth of 10% is forecast for the full year.
    | Mar. 26, 2015, 6:53 AM
  • Jul. 21, 2014, 12:46 PM
    | Jul. 21, 2014, 12:46 PM | 2 Comments
  • Nov. 13, 2013, 11:57 AM
    • China Automotive Systems (CAAS +16.8%) shares jump on the company's Q3 results, which saw revenue grow 24.2% Y/Y to $90.9M.
    • Gross profit expanded 32% to $16.5M, as margin expanded by 1.1% to 18.2%.
    • Income from operations doubled Y/Y to $11M, with margin expanding by 4.6% to 12.1%.
    • Management hiked full-year revenue growth guidance to 20% from 15%, implying revenue of $403.2M (vs. a lone analyst's expectations of $392.2M).
    • The company continues to expand its market share, with its 24.2% growth rate in Q3 exceeding the 13.6% growth in China's automotive market during the period.
    • PR, Conference call (transcript)
    | Nov. 13, 2013, 11:57 AM
  • Sep. 10, 2013, 12:46 PM
    | Sep. 10, 2013, 12:46 PM | 2 Comments
  • Aug. 19, 2013, 12:45 PM
    | Aug. 19, 2013, 12:45 PM | 2 Comments
  • Aug. 14, 2013, 12:45 PM
    | Aug. 14, 2013, 12:45 PM
  • May 2, 2013, 9:17 AM

    China Automotive Systems (CAAS) signs a multi-year agreement to supply rack and pinion power steering systems to SGMW. Preliminary estimates have the total number of systems to be shipped this year at 350K, though no other details about the deal were disclosed. General Motors (GM) is one of three partners in the SGMW joint venture. CAAS calls the deal a "major contract win." Shares +18.6% premarket. (PR)

    | May 2, 2013, 9:17 AM
  • May 2, 2013, 9:10 AM
    Premarket gainers: REGI +23%. CAAS +18%. YELP +12%. MWW +10%. GNRC +9%. NIHD +7%. BZH +7%. GILD +6%. MGM +5%.
    Losers: CIG -13%. VLO -7%. TS -6%.
    | May 2, 2013, 9:10 AM | 2 Comments
  • May 1, 2013, 9:10 AM
    Premarket gainers: IQNT +34%. MSPD +31%. TRLA +14%. FIRE +12%. JRCC +11%. CAAS +8%. DWA +9%. GDOT +8%. CAVM +8%. NAVB +5%.
    Losers: HIMX -9%. ELGX -8%. SWI -8%.
    | May 1, 2013, 9:10 AM
  • Mar. 9, 2012, 7:50 AM
    China Automotive Systems (CAAS): Q4 EPS of $0.19 beats by $0.03. Revenue of $99.5M (-1% Y/Y) beats by $3.3M. Shares +4.6% premarket. (PR)
    | Mar. 9, 2012, 7:50 AM
Company Description
China Automotive Systems, Inc. engages in the manufacture and sale of automotive products. It distributes power steering systems, automotive parts, modular automotive steering gears, and electric power steering. The company was founded on June 29, 1999 and is headquartered in Wuhan, China.
Industry: Auto Parts
Country: China