EX-99.1 2 tm2514811d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 China Automotive Systems Reports 19.9% Increase in Net Sales in First Quarter of 2025 WUHAN, China, May 14, 2025 - 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 first quarter ended March 31, 2025. First Quarter 2025 Highlights Net sales grew by 19.9% year-over-year to $167.1 million; sales of EPS products rose by 54.0% Gross profit increased by 18.8% year-over-year to $28.6 million with a gross margin of 17.1% compared with $24.1 million of gross profit and a 17.3% gross margin in the first quarter of 2024 Income from operations decreased to $8.6 million compared with $9.7 million in the first quarter of 2024 Diluted income per share was $0.24, compared to diluted income per share of $0.27 in the first quarter of 2024 Cash, cash equivalents, and short-term investments were $89.9 million as of March 31, 2025 Net cash provided by operating activities was $18.1 million in the first quarter of 2025 compared to $10.5 million in the first quarter of 20…
Open exhibit ↗Current Report · Items 2.02, 9.01 · 8-K
CHINA AUTOMOTIVE SYSTEMS INC/2
Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On May 14, 2025, China Automotive Systems, Inc. issued a press release announcing financial results for the quarter ended March 31, 2025. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.…
Company context
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 its sixteen Sino-foreign joint ventures and wholly owned subsidiaries. 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 8 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 Stellantis N.V. and Ford Motor Company in North America. For more information, please visit: http://www.caasauto.com.