China Automotive Systems Sees Profits Surge
By wchung | 04 Apr, 2025
China Automotive Systems Inc., which makes power steering components, said Thursday that third-quarter profit rose sharply on a boost in sales of components for passenger vehicles.
The shares rose $1.61, or 11 percent, to $16.23 in afternoon trading.
The company, based in Wuhan, China, said it earned $8.6 million, or 28 cents per share, compared with $2.8 million, or 9 cents per share, a year earlier.
Revenue rose 75 percent from a year ago, to $64.7 million.
Sales of steering gears and pumps for passenger vehicles in China rose, as did parts for commercial vehicles, the company said.
China Automotive said based on current contracts, which are subject to change, it expects 2009 revenue to rise 40 percent.
11/12/2009 1:54 PM NEW YORK (AP)
Articles
- Young Asian Americans Find Side Hustles Alternative Paths to Success
- Beauty Guru Yasmine Topacio Demos Routine for Gorgeous East-West Blend
- Alexandr Wang Makes Anti-China Waves As World's Youngest Self-Made Billionaire
- Asian Americans Underperform in Crime with One Big Exception
- Orange County Indian Mom Slashes Son’s Throat After Amusement Park Spree
Asian American Success Stories
- The 130 Most Inspiring Asian Americans of All Time
- 12 Most Brilliant Asian Americans
- Greatest Asian American War Heroes
- Asian American Digital Pioneers
- New Asian American Imagemakers
- Asian American Innovators
- The 20 Most Inspiring Asian Sports Stars
- 5 Most Daring Asian Americans
- Surprising Superstars
- TV’s Hottest Asians
- 100 Greatest Asian American Entrepreneurs
- Asian American Wonder Women
- Greatest Asian American Rags-to-Riches Stories
- Notable Asian American Professionals