China Automotive Systems Reports 12.9% Revenue Increase to Annual Record
China Automotive Systems, Inc. - Ordinary Share (CAAS)
Last china automotive systems, inc. - ordinary share earnings: 11/12 06:00 am
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Source: PR Newswire
- Electric Power Steering ("EPS") Sales Increased by 29.9% in 2024 -WUHAN, China, March 28, 2025 /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, 2024.Fourth Quarter 2024 HighlightsNet sales increased by 18.6% year-over-year to $188.7 millionGross profit was $29.5 million from $34.7 million. Gross margin of 15.6% compared to 21.8% in the fourth quarter of 2023Operating income was $8.7 million, compared with $13.6 million in the fourth quarter of 2023Net income attributable to parent company's common shareholders was $9.1 million, or diluted net income per share of $0.30, compared to net income of $10.9 million, or diluted net income per share of $0.36 in the fourth quarter of 2023.Fiscal Year 2024 HighlightsNet sales increased by 12.9% to an annu
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