Wuhan, China

China Automotive Systems, Inc. is one of the largest power steering components and systems supplier in China. It is also a holding company that, through Genesis, manufactures power steering systems and other components for automobiles. Founded in 1993, all operations are conducted through eight Sino-foreign joint ventures in China and a wholly owned subsidiary in the United States. Wikipedia.


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News Article | November 7, 2016
Site: www.newsmaker.com.au

Global Automotive Steering Market system is accounted for $26.19 billion in 2015 and is expected to reach $41.8 billion by 2022 growing at a CAGR of 6.90 % from 2015 to 2022. The rising demand for automobile sector is the primary factor favouring the market. Furthermore, increasing demand for vehicles, investment in research & development by market leaders are drivers for the Automotive Steering market system. However, rising fuel prices has led the consumers to go for more fuel efficient vehicles is the major restraint hampering the market growth. Some of the recent trends in Automotive Steering market system are convention rigid steering system and flexible power assisted steering systems. Electro-hydraulic power steering segment is expected to have more shares due to the combined benefits of both electronic power steering and hydraulic power steering being provided by this segment. Europe accounted for the largest market share in the automotive steering systems followed by North America, Asia Pacific and Rest of the World (RoW). Some of the key players in the market include Jtekt Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, NSK Ltd., Nexteer Automotive Group Ltd, Hitachi Ltd., Mando Corp., Thyssenkrupp AG, Showa Corporation, The Sona Group, TRW Automotive Holding, Mitsubishi Electric Corporation, Hyundai Mobis Co. Ltd, China Automotive Systems Inc. and YAZAKI corporation. Safety Features Covered:  • Anti-Lock Braking System (ABS)  • Electronic Stability Control/Program (ESC/ESP)  Electric Power Steering Type Covered:  • Column Assist Electric Power Steering (C-EPS)  • Pinion Assist Electric Power Steering (P-EPS)  • Rack Assist Electric Power Steering (R-EPS)  Regions Covered:  • North America  o US  o Canada  o Mexico  • Europe  o Germany  o France  o Italy  o UK  o Spain  o Rest of Europe  • Asia Pacific  o Japan  o China  o India  o Australia  o New Zealand  o Rest of Asia Pacific  • Rest of the World  o Middle East  o Brazil  o Argentina  o South Africa  o Egypt What our report offers:  - Market share assessments for the regional and country level segments  - Market share analysis of the top industry players  - Strategic recommendations for the new entrants  - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets  - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)  - Strategic recommendations in key business segments based on the market estimations  - Competitive landscaping mapping the key common trends  - Company profiling with detailed strategies, financials, and recent developments  - Supply chain trends mapping the latest technological advancements Executive Summary  2 Preface  2.1 Abstract  2.2 Stake Holders  2.3 Research Scope  2.4 Research Methodology  2.4.1 Data Mining  2.4.2 Data Analysis  2.4.3 Data Validation  2.4.4 Research Approach  2.5 Research Sources  2.5.1 Primary Research Sources  2.5.2 Secondary Research Sources  2.5.3 Assumptions  3 Market Trend Analysis  3.1 Introduction  3.2 Drivers  3.3 Restraints  3.4 Opportunities  3.5 Threats  3.8 Emerging Markets  4 Porters Five Force Analysis  4.1 Bargaining power of suppliers  4.2 Bargaining power of buyers  4.3 Threat of substitutes  4.4 Threat of new entrants  4.5 Competitive rivalry  5 Global Automotive Steering System Market, By Type  5.1 Introduction  5.2 Electric Power Steering (EPS) System  5.3 Electro-Hydraulic Power Steering (EHPS) System  5.4 Hydraulic Power Steering (HPS) System  5.5 Manual Steering System  6 Global Automotive Steering System Market, By Key Components  6.1 Introduction  6.2 Electric Motor  6.3 Steering Wheel Speed Sensor  6.4 Power Steering Column  6.5 Hydraulic Pump  7 Global Automotive Steering System Market, By Safety Features  7.1 Introduction  7.2 Electronic Stability Control/Program (ESC/ESP)  7.3 Anti-Lock Braking System (ABS)  8 Global Automotive Steering System Market, By Electric Power Steering Type  8.1 Introduction  8.2 Rack Assist Electric Power Steering (R-EPS)  8.3 Column Assist Electric Power Steering (C-EPS)  8.4 Pinion Assist Electric Power Steering (P-EPS)  Continued.... About Us Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.


News Article | November 23, 2016
Site: www.newsmaker.com.au

According to Stratistics MRC, the Electric Power Assisted Steering Market accounted for $29.72 billion in 2015 and is expected to reach $69.82 billion by 2022 growing at a CAGR of 12.9% from 2015 to 2022. Technological advancements and improving fuel efficiency are the key factors driving the market growth. Low Penetration of Electric Power Steering (EPS) in Commercial Vehicles is one of the major trends in the market. Electric power steering segment commanded the largest market share in 2015. The hydraulic power steering is projected to decrease owing to the big space requisite as well as low fuel efficiency. Asia pacific is expected to witness highest growth on account of rising economies leading to a growing automotive market. Some of the key players in the market include Robert Bosch GmbH, FAW Koyo Steering Systems Co., Ltd., JTEKT Corporation, Delphi Automotive LLP, Sona Koyo Steering Systems, Zhejiang Fulin Guorun Auto Parts Co., Ltd., Hubei Tri-Ring Motor Steering Gear Co., Ltd., AVIC-Xihang Yubei Steering System Co., Ltd., Mitsubishi Electric Corporation, Hafei Industrial Group Automobile Redirector Obligate Co., Ltd., Anhui Finetech Machinery Co., Ltd, NSK Ltd., Guangzhou SHOWA Absorber Limited Company, Trelleborg, Federal Mogul Corporation, China Automotive Systems Inc., Jiangmen Xingjiang Steering Gear Co., Ltd., Tianjin Jinfeng Automobile Chassis Parts Co., Ltd., Mando Corporation, Hyundai Mobis Co., Ltd., Hitachi Automotive Systems, ZF Friedrichshafen AG and Showa Corporation. Regions Covered: • North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o Rest of Asia Pacific • Rest of the World o Middle East o Brazil o Argentina o South Africa o Egypt What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements


Research and Markets has announced the addition of the "Global Automotive Sensors Market Analysis & Trends - Industry Forecast to 2025" report to their offering. The Global Automotive Sensors Market is poised to grow at a CAGR of around 8.4% over the next decade to reach approximately $48.3 billion by 2025. This industry report analyzes the market estimates and forecasts for all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data for 2013, 2014 revenue estimations are presented for 2015 and forecasts from 2016 till 2025. The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. With comprehensive market assessment across the major geographies such as North America, Europe, Asia Pacific, Middle East, Latin America and Rest of the world the report is a valuable asset for the existing players, new entrants and the future investors. Some of the trends that the market is experiencing include need for fuel efficient and reduction for carbon footprint, growing adoption of automotive cruise control systems, developing fully autonomous and semi autonomous automobiles and emerging technologies like combo sensors and wafer-level packaging technologies. Depending on application, market is divided into Chassis, Body Electronics, Exhaust, Powertrain, Safety and Control, Telematics, Vehicle Lighting Control and Ignition Control Applications and Other Applications. Based on sensor type the market is categorized into Inertial Sensors, Image Sensors, Nox Sensor, Oxygen Sensors, Pressure Sensors, Temperature Sensors, Position Sensors, Level Sensor, Torque Sensor and Other Sensors. Inertial Sensors segment is subdivided into Gyroscopes and Accelerometers. The Image Sensors segment is further broken down into Charge-Coupled Device (CCD) and Complementary Metal-Oxide Semiconductor (CMOS). Other Sensors segment is diverged into Particulate Matter Sensors, Proximity Sensors, Radar Sensors, Rain Sensors, Relative Humidity Sensors and Ultrasonic Sensors. Based on working principle market is segmented into Inductive, Magnetic, Capacitive, Piezoelectric and Optical. On the basis of technology, market is categorised into Microelectromechanical Systems (MEMS), Non-Electro Mechanical Systems (Non-MEMS), Nano-Electro-Mechanical Systems (NEMS) and Hall Effect Technology. The Microelectromechanical Systems (MEMS) technology is subdivided into Fuel Injector Pressure Sensor, Airbag Sensor, Roll over Detection Sensor, Vehicle Dynamic Control (VDC) sensor and Throttle position sensor. Non-Electro-Mechanical Systems (Non-MEMS) segment is also broken further into Magnetic Sensor, Battery sensor and Optical Sensor. By vehicle type the market is bifurcated into Cars, Buses, Two-wheelers and Trucks. The cars segment is further divided into Coupes, Hatchback Cars, Sedan Cars, SUV and Wagons. Trucks segment is sub divided into Light-duty truck, Light light-duty truck, Heavy-duty vehicle and Heavy light-duty truck. Report Highlights: - The report provides a detailed analysis on current and future market trends to identify the investment opportunities - Market forecasts till 2025, using estimated market values as the base numbers - Key market trends across the business segments, Regions and Countries - Key developments and strategies observed in the market - Market Dynamics such as Drivers, Restraints, Opportunities and other trends - In-depth company profiles of key players and upcoming prominent players - Growth prospects among the emerging nations through 2025 - Market opportunities and recommendations for new investments Key Topics Covered: 1 Market Outline 2 Executive Summary 3 Market Overview 3.1 Current Trends 3.1.1 Need for fuel efficient and reduction for carbon footprint 3.1.2 Growing adoption of automotive cruise control systems 3.1.3 Developing fully autonomous and semi autonomous automobiles 3.1.4 Emerging technologies like combo sensors and wafer-level packaging technologies 3.2 Drivers 3.3 Constraints 3.4 Industry Attractiveness 4 Automotive Sensors Market, By Application 4.1 Chassis 4.1.1 Chassis Market Forecast to 2025 (US$ MN) 4.2 Body Electronics 4.2.1 Body Electronics Market Forecast to 2025 (US$ MN) 4.3 Exhaust 4.3.1 Exhaust Market Forecast to 2025 (US$ MN) 4.4 Powertrain 4.4.1 Powertrain Market Forecast to 2025 (US$ MN) 4.5 Safety and Control 4.5.1 Safety and Control Market Forecast to 2025 (US$ MN) 4.6 Telematics 4.6.1 Telematics Market Forecast to 2025 (US$ MN) 4.7 Vehicle Lighting Control 4.7.1 Vehicle Lighting Control Market Forecast to 2025 (US$ MN) 4.8 Ignition Control Applications 4.8.1 Ignition Control Applications Market Forecast to 2025 (US$ MN) 4.9 Other Applications 4.9.1 Other Applications Market Forecast to 2025 (US$ MN) 5 Automotive Sensors Market, By Sensor Type 5.1 Inertial Sensors 5.1.1 Inertial Sensors Market Forecast to 2025 (US$ MN) 5.1.1.1 Gyroscopes 5.1.1.1.1 Gyroscopes Market Forecast to 2025 (US$ MN) 5.1.1.2 Accelerometers 5.1.1.2.1 Accelerometers Market Forecast to 2025 (US$ MN) 5.2 Image Sensors 5.2.1 Image Sensors Market Forecast to 2025 (US$ MN) 5.2.1.1 Charge-Coupled Device (CCD) 5.2.1.1.1 Charge-Coupled Device (CCD) Market Forecast to 2025 (US$ MN) 5.2.1.2 Complementary Metal-Oxide Semiconductor (CMOS) 5.2.1.2.1 Complementary Metal-Oxide Semiconductor (CMOS) Market Forecast to 2025 (US$ MN) 5.3 Nox Sensor 5.3.1 Nox Sensor Market Forecast to 2025 (US$ MN) 5.4 Oxygen Sensors 5.4.1 Oxygen Sensors Market Forecast to 2025 (US$ MN) 5.5 Pressure Sensors 5.5.1 Pressure Sensors Market Forecast to 2025 (US$ MN) 5.6 Temperature Sensors 5.6.1 Temperature Sensors Market Forecast to 2025 (US$ MN) 5.7 Position Sensors 5.7.1 Position Sensors Market Forecast to 2025 (US$ MN) 5.8 Level Sensor 5.8.1 Level Sensor Market Forecast to 2025 (US$ MN) 5.9 Torque Sensor 5.9.1 Torque Sensor Market Forecast to 2025 (US$ MN) 5.10 Other Sensors 5.10.1 Other Sensors Market Forecast to 2025 (US$ MN) 5.10.1.1 Particulate Matter Sensors 5.10.1.1.1 Particulate Matter Sensors Market Forecast to 2025 (US$ MN) 5.10.1.2 Proximity Sensors 5.10.1.2.1 Proximity Sensors Market Forecast to 2025 (US$ MN) 5.10.1.3 Radar Sensors 5.10.1.3.1 Radar Sensors Market Forecast to 2025 (US$ MN) 5.10.1.4 Rain Sensors 5.10.1.4.1 Rain Sensors Market Forecast to 2025 (US$ MN) 5.10.1.5 Relative Humidity Sensors 5.10.1.5.1 Relative Humidity Sensors Market Forecast to 2025 (US$ MN) 5.10.1.6 Ultrasonic Sensors 5.10.1.6.1 Ultrasonic Sensors Market Forecast to 2025 (US$ MN) 6 Automotive Sensors Market, By Working Principle 6.1 Inductive 6.1.1 Inductive Market Forecast to 2025 (US$ MN) 6.2 Magnetic 6.2.1 Magnetic Market Forecast to 2025 (US$ MN) 6.3 Capacitive 6.3.1 Capacitive Market Forecast to 2025 (US$ MN) 6.4 Piezoelectric 6.4.1 Piezoelectric Market Forecast to 2025 (US$ MN) 6.5 Optical 6.5.1 Optical Market Forecast to 2025 (US$ MN) 7 Automotive Sensors Market, By Technology 7.1 Microelectromechanical Systems (MEMS) 7.1.1 Microelectromechanical Systems (MEMS) Market Forecast to 2025 (US$ MN) 7.1.1.1 Fuel Injector Pressure Sensor 7.1.1.1.1 Fuel Injector Pressure Sensor Market Forecast to 2025 (US$ MN) 7.1.1.2 Airbag Sensor 7.1.1.2.1 Airbag Sensor Market Forecast to 2025 (US$ MN) 7.1.1.3 Roll Over Detection Sensor 7.1.1.3.1 Roll Over Detection Sensor Market Forecast to 2025 (US$ MN) 7.1.1.4 Vehicle Dynamic Control (VDC) sensor 7.1.1.4.1 Vehicle Dynamic Control (VDC) sensor Market Forecast to 2025 (US$ MN) 7.1.1.5 Throttle position sensor 7.1.1.5.1 Throttle position sensor Market Forecast to 2025 (US$ MN) 7.2 Non-Electro-Mechanical Systems (Non-MEMS) 7.2.1 Non-Electro-Mechanical Systems (Non-MEMS) Market Forecast to 2025 (US$ MN) 7.2.1.1 Magnetic Sensor 7.2.1.1.1 Magnetic Sensor Market Forecast to 2025 (US$ MN) 7.2.1.2 Battery sensor 7.2.1.2.1 Battery sensor Market Forecast to 2025 (US$ MN) 7.2.1.3 Optical Sensor 7.2.1.3.1 Optical Sensor Market Forecast to 2025 (US$ MN) 7.3 Nano-Electro-Mechanical Systems (NEMS) 7.3.1 Nano-Electro-Mechanical Systems (NEMS) Market Forecast to 2025 (US$ MN) 7.4 Hall Effect Technology 7.4.1 Hall Effect Technology Market Forecast to 2025 (US$ MN) 8 Automotive Sensors Market, By Vehicle Type 8.1 Cars 8.1.1 Cars Market Forecast to 2025 (US$ MN) 8.1.1.1 Coupes 8.1.1.1.1 Coupes Market Forecast to 2025 (US$ MN) 8.1.1.2 Hatchback Cars 8.1.1.2.1 Hatchback Cars Market Forecast to 2025 (US$ MN) 8.1.1.3 Sedan Cars 8.1.1.3.1 Sedan Cars Market Forecast to 2025 (US$ MN) 8.1.1.4 SUV 8.1.1.4.1 SUV Market Forecast to 2025 (US$ MN) 8.1.1.5 Wagons 8.1.1.5.1 Wagons Market Forecast to 2025 (US$ MN) 8.2 Buses 8.2.1 Buses Market Forecast to 2025 (US$ MN) 8.3 Two-wheelers 8.3.1 Two-wheelers Market Forecast to 2025 (US$ MN) 8.4 Trucks 8.4.1 Trucks Market Forecast to 2025 (US$ MN) 8.4.1.1 Light-duty truck 8.4.1.1.1 Trucks Market Forecast to 2025 (US$ MN) 8.4.1.2 Light light-duty truck 8.4.1.2.1 Trucks Market Forecast to 2025 (US$ MN) 8.4.1.3 Heavy-duty vehicle 8.4.1.3.1 Trucks Market Forecast to 2025 (US$ MN) 8.4.1.4 Heavy light-duty truck 8.4.1.4.1 Trucks Market Forecast to 2025 (US$ MN) 9 Automotive Sensors Market, By Geography 10 Key Player Activities 10.1 Acquisitions & Mergers 10.2 Agreements, Partnerships, Collaborations and Joint Ventures 10.3 Product Launch & Expansions 10.4 Other Activities 11 Leading Companies - Allegro Microsystems Inc - American Sensor Technologies Inc. - Analog Devices Inc. - Bosch Sensortec Gmbh - China Automotive Systems Inc. - Continental Ag - Corrsys-Datron Sensorsysteme Gmbh - Delphi Corp - Freescale Semiconductor Inc - Hitachi Automotive Systems - Jumo Gmbh & Co. Kg - Motion Sensors Inc - Novotechnik U.S. Inc - Nxp Semiconductors - Omron Corp - Raltron Electronics Corp - Sensonar Technologies As - The Shanghai Nicera Sensor Co. Ltd - Trw Automotive Holdings Corp - Visteon Corp - Hella Kgaa Hueck & Co - Xensor Corp - OSRAM Opto Semiconductors Gmbh - Hamamatsu Photonics KK - Melexis Microelectronic Integrated Systems For more information about this report visit http://www.researchandmarkets.com/research/pzbm2z/global_automotive Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716


Patent
China Automotive Systems | Date: 2014-06-06

A fan comprising: (a) an impeller, (b) a motor connected to the impeller so that during operation the motor drives the impeller to move a fluid; (c) an instrumentation assembly that includes one or more components for controlling one or more operations of the fan; (d) an interface in communication with the instrumentation assembly; wherein the interface is configured so that one or more programs, one or more signals, or both can be input into the fan after a final assembly of the fan so that the fan can be configured to perform a desired function at the time of installation into a final product, reconfigured for a different purpose than originally programmed, or both.


Patent
China Automotive Systems | Date: 2013-12-31

Temperature conditioning device (10) for a temperature conditioned object (2), the temperature conditioning device (10) having at least one of the following components: a) a thermoelectric device (70) to heat or cool the temperature conditioned object (2), b) a fluid loop (42) to transport thermal energy within the temperature conditioned object (2), and c) a ventilation device (57) to generate an air stream (59) to exchange thermal energy with the surrounding.


Patent
China Automotive Systems | Date: 2014-12-18

The present teachings relate to a ventilating apparatus for a body supporting means, comprising: at least one air conveying means, at least one air guiding means, and at least one outlet opening in an area of the body supporting means, which is associated with the neck of a user.


Patent
China Automotive Systems | Date: 2014-10-31

The present invention relates to a temperature control device (1) for an electric power source (2). It is provided for the power source (2) to comprise a housing (4) and a plurality of elementary cells (3).


WUHAN, China, Nov 10, 2016 /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, 2016. First Nine Months of 2016 Highlights Mr. Qizhou Wu, the Chief Executive Officer of CAAS, commented, "We are encouraged to see all of our subsidiaries' operations achieved growth in the third quarter of 2016 despite continuing lackluster growth in the Chinese economy. We continued to grow our electric power steering ("EPS") business which grew by 26.1% and represented 27.0% of net sales compared with 22.4% in the same period last year. We remain optimistic about our EPS business and continue to expand our product portfolio and production capabilities. Even our traditional hydraulic steering products reversed its declining trend and registered an increase." "Internationally, our Brazilian assembly plant has completed its trials and begun commercial production to serve our Tier-1 customer in Brazil and Chinese OEMs operating in the region. We anticipate that our North American operations will continue to expand in the years ahead." Mr. Wu concluded. Mr. Jie Li, the Chief Financial Officer of CAAS, commented, "We maintain a strong balance sheet while continuing to invest in our products and production capacity to position CAAS to further penetrate the Chinese auto market and international markets as well. From a financial reporting perspective, the significantly weakening Chinese currency RMB against the US dollars negatively affected our third quarter results by 6.4%, as we still generate a majority of our sales in Mainland China while we report in US dollar. As part of our commitment to building long-term shareholder value, we continued to repurchase shares. As of September 30, 2016, approximately $1 million has been used to repurchases of 260 thousand shares and $4 million of additional shares may yet be repurchased under our share repurchase program." In the third quarter of 2016, net sales increased 4.2% to $94.6 million, compared to $90.8 million in the same quarter of 2015. This increase was mainly due to higher volumes and a change in the product mix to more electric power steering systems (EPS). Gross profit was $20.0 million in the third quarter of 2016, compared to $15.9 million in the third quarter of 2015. The gross margin was 21.1% in the third quarter of 2016, versus 17.5% in the third quarter of 2015. Selling expenses were $3.8 million in the third quarter of 2016, compared to $3.3 million in the third quarter of 2015. Greater unit sales led to higher transportation expenses in the third quarter of 2016. Selling expenses represented 4.1% of net sales in the third quarter of 2016, compared to 3.7% in the third quarter of 2015. General and administrative expenses ("G&A expenses") were $3.7 million in the third quarter of 2016, compared to $3.1 million in the same quarter of 2015. G&A expenses represented 4.0% of net sales in the third quarter of 2016 and 3.4% in the third quarter of 2015. Research and development expenses ("R&D expenses") were $6.7 million in the third quarter of 2016, compared to $5.4 million in the third quarter of 2015. R&D expenses represented 7.1% of net sales in the third quarter of 2016 compared with 6.0% in the third quarter of 2015. The higher R&D expenses as a percentage of revenue was mainly due to continued development of new EPS products and acquiring advanced production equipment. Net financial income was $0.8 million in the third quarter of 2016 compared to net financial income of $0.6 million in the third quarter of 2015. Income from operations increased 15.2% to $5.7 million in the third quarter of 2016, compared to $5.0 million in the same quarter of 2015. The increase was mainly due to higher net sales and gross profit. Income before income tax expenses and equity in earnings of affiliated companies was $6.7 million in the third quarter of 2016, compared to $5.2 million in the third quarter of 2015. The increase in income before income tax expenses and equity in earnings of affiliated companies was mainly due to higher operating income, lower interest expense and higher net financial income in the third quarter of 2016 compared with the third quarter of 2015. Net income attributable to parent company's common shareholders was $5.7 million in the third quarter of 2016, compared to net income attributable to parent company's common shareholders of $4.3 million in the third quarter of 2015. Diluted earnings per share were $0.18 in the third quarter of 2016, compared to diluted earnings per share of $0.13 in the third quarter of 2015. The weighted average number of diluted common shares outstanding was 31,911,722 in the third quarter of 2016, compared to 32,134,839 in the third quarter of 2015. First Nine Months of 2016 Net sales for the first nine months of 2016 were $312.5 million, compared to $323.5 million in the first nine months of 2015. Nine-month gross profit was $59.1 million, compared to $59.4 million in the corresponding period last year. Nine-month gross margin was 18.9%, compared to 18.4% for the corresponding period in 2015. For the nine months ended September 30, 2016, gain on other sales amounted to $2.0 million, compared to $3.2 million for the corresponding period in 2015. Income from operations was $18.0 million compared to $22.6 million in the first nine months of 2015. Operating margin was 5.8%, compared to 7.0% for the corresponding period of 2015. Net income attributable to parent company's common shareholders was $16.8 million compared with $20.5 million in the corresponding period last year. Diluted earnings per share were $0.52 in the first nine months of 2016, compared to diluted earnings per share of $0.64 for the corresponding period in 2015. As of September 30, 2016, total cash and cash equivalents, pledged cash deposits and short-term investments were $99.5 million, total accounts receivable including notes receivable were $279.4 million, accounts payable were $210.0 million and bank and government loans were $39.9 million. Total parent company stockholders' equity was $312.2 million as of September 30, 2016, compared to $299.0 million as of December 31, 2015. Net cash flow from operating activities was $13.1 million for the first nine months of 2016. Management has increased its revenue guidance for the full year 2016 to US$450 million. This target is based on the Company's current views on operating and market conditions, which are subject to change. Management will conduct a conference call on November 10th at 8:00 A.M. EST/9:00 P.M. Beijing Time to discuss these results. A question and answer session will follow managements presentation.To participate, please call the following numbers 10 minutes before the call start time and ask to be connected to the "China Automotive Systems" conference call: A replay of the call will be available on the company's website in the investor relations section. Based in Hubei Province, the People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through eight Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over5.5 million sets of steering gears, columns and steering hoses. Its customer base is comprised of leading auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Chrysler Group LLC in North America. For more information, please visit: http://www.caasauto.com. This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. These forward-looking statements include statements regarding the qualitative and quantitative effects of the accounting errors, the periods involved, the nature of the Company's review and any anticipated conclusions of the Company or its management and other statements that are not historical facts. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company's actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's Form 10-K annual report filed with the Securities and Exchange Commission on March 30, 2016, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise. For further information, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-automotive-systems-reports-higher-net-sales-and-profit-in-the-2016-third-quarter-300360424.html


News Article | November 10, 2016
Site: www.prnewswire.com

WUHAN, China, Nov. 10, 2016 /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...


News Article | November 16, 2016
Site: en.prnasia.com

WUHAN, China, Nov 16, 2016 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced it has begun commercial production of steering gears to supply to Fiat Chrysler Automobiles' (NYSE: FCAU or "FCA") electric power steering (EPS) systems for a new C-SUV model set to launch in 2017. The Company has begun shipping these newly designed steering gears from its brand new, state-of-the-art, automated assembly plant located in Jingzhou, Hubei Province, China to FCA's new C-SUV assembly plant in Toluca, Mexico. Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, "We have been in Chrysler's global sourcing program since 2009. In the past 7 years, as a key tier-one supplier, we have won a number of accolades for our superior quality and outstanding performance in Chrysler's award winning models. As a result, our business in the North American market has exceeded 500,000 units of steering products on an annual basis. We continue to expand our product portfolio and production capabilities to extend our market leadership in China." "We remain upbeat with the prospects of our EPS business at home and abroad. Our EPS systems execute lane-keeping and self-parking functionalities, which are the cornerstones for driverless vehicles. We are well positioned for more opportunities and collaboration with OEMs and technology companies," Mr. Wu concluded. Based in Hubei Province, the People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through eight Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 5.5 million sets of steering gears, columns and steering hoses. Its customer base is comprised of leading auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Chrysler Group LLC in North America. For more information, please visit: http://www.caasauto.com. This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. These forward-looking statements include statements regarding the qualitative and quantitative effects of the accounting errors, the periods involved, the nature of the Company's review and any anticipated conclusions of the Company or its management and other statements that are not historical facts. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company's actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's Form 10-K annual report filed with the Securities and Exchange Commission on March 30, 2016, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise. For further information, please contact: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-automotive-systems-enters-into-fiat-chrysler-eps-system-procurement-program-300363950.html

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