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.
Jul. 21, 2014, 12:46 PM
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)
Sep. 10, 2013, 12:46 PM| 2 Comments
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May. 2, 2013, 9:17 AMChina 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) | Comment!
May. 2, 2013, 9:10 AM
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