China Automotive Systems Sees Profits Surge
By wchung | 21 Mar, 2026
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
- Airports Step up to Feed Unpaid TSA Workers
- Don Struggles for a Face-Saving Exit from a Self-Created Nightmare
- OpenAI to Double Workforce to 8,000 by End of 2026
- BTS Comeback Concert Shuts Down Central Seoul
- United Cuts 5% of Flights, Plans for $175 per Barrel Oil
- Softbank, AEP to Build Massive Ohio Gas Power Plant, Data Center
- Musk's Liable to Twitter Shareholders, Damages to Be Determined
- Next-Gen Parenting for Success in an Automating World—for Yourself and Your Kids
- Attack on Harvard Renewed with Another Antisemitism Suit
- Record Attendance at Women's Asian Cup Soccer but Top Tier Remains Thin