Thu, Mar. 26, 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.
Thu, Mar. 26, 6:32 AM| Comment!
Wed, Mar. 4, 12:34 PM
- Investors betting on the Chinese automobile market need to factor in how runaway pollution impacts investment potential, warn analysts.
- The air Pollution index in China has hit dangerous levels this week with Beijing registering a 168 today and Nanjing hitting a shockingly high 288 yesterday (extremely unhealthy).
- Other cities with an "unhealthy" reading on air quality include Guangzhou, Nanjing, Maanshan, Chengdu, Chuzhou, Zhenjiang, Yahgzhou, Wuhu, and Hong Kong.
- Reports indicate the Chinese population has become more concerned about the medical ramifications of long-term exposure to pollution.
- Some automobile industry watchers think foreign car manufacturers could benefit at the expense of domestic automakers if the government in China is to take further steps to push low-emission cars and EVs.
- The other side of the equation is the restrictions placed on car sales in certain regions in the nation.
- China auto sales are expected to rise 8.3% this year.
- China-related auto stocks (including JVs): KNDI, OTCQX:VLKAY, GM, F, OTCPK:DDAIF, TSLA, OTCPK:BAMXY, OTCPK:BCAUY, OTCPK:GWLLY, OTCPK:GWLLF, OTCPK:GELYF, OTCPK:GELYY, OTCPK:DNFGF, OTCPK:DNFGY, OTC:HYMLF, CAAS, SORL, OTCPK:BYDDY, OTCPK:BYDDF.
Nov. 12, 2014, 7:53 AM
- China Automotive Systems (NASDAQ:CAAS) picked up market share in Q3 as its sales growth more than doubled the rate in the industry.
- An expanded partnership with Chrysler was a factor in North America.
- Gross profit rate +200 bps to 20.2% on a higher mix of electric power steering sales.
- Selling expense rate +120 bps to 3.7%.
Nov. 12, 2014, 6:56 AM| Comment!
Aug. 13, 2014, 9:02 AM
- China Automotive Systems (NASDAQ:CAAS) reports bustling Q2 sales as demand for passenger cars in China soars and the company's partnership with Chrysler pays off.
- Gross margin rate -10 bps to 18.7%.
- Operating margin rate +630 bps to 14.3%
- Guidance: Revenue growth of 15% is forecast for the full year.
Aug. 13, 2014, 6:02 AM| Comment!
Jul. 21, 2014, 12:46 PM
May. 27, 2014, 7:13 AM| Comment!
May. 14, 2014, 6:52 AM| Comment!
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, 6:18 AM
Sep. 10, 2013, 12:46 PM| 2 Comments
Aug. 19, 2013, 12:45 PM| 2 Comments
Aug. 14, 2013, 12:45 PM| Comment!
Aug. 14, 2013, 6:38 AM
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