China Automotive Systems Reports 12.9% Revenue Increase to Annual Record
China Automotive Systems (NASDAQ: CAAS) reported record annual revenue for 2024, with a 12.9% increase to $650.9 million. The company's Electric Power Steering (EPS) sales grew significantly by 29.9%, representing 38.9% of total sales, up from 33.8% in 2023.
Key financial highlights include: gross profit increased 5.2% to $109.2 million, operating income rose 2.6% to $40.3 million, and diluted net income per share was $0.99. The company maintained strong liquidity with $129.4 million in total cash and equivalents.
Fourth quarter performance showed an 18.6% revenue increase to $188.7 million, though gross margin declined to 15.6% from 21.8% year-over-year. The company's subsidiary Jingzhou Henglong achieved notable growth, with December 2024 reaching a record 620,000 units in monthly production.
Management has provided revenue guidance of $700.0 million for fiscal year 2025.
China Automotive Systems (NASDAQ: CAAS) ha riportato un fatturato annuale record per il 2024, con un incremento del 12,9% a 650,9 milioni di dollari. Le vendite del Servosterzo Elettrico (EPS) sono cresciute significativamente del 29,9%, rappresentando il 38,9% delle vendite totali, rispetto al 33,8% nel 2023.
I principali punti finanziari includono: il profitto lordo è aumentato del 5,2% a 109,2 milioni di dollari, l'utile operativo è salito del 2,6% a 40,3 milioni di dollari e l'utile netto diluito per azione è stato di 0,99 dollari. L'azienda ha mantenuto una forte liquidità con 129,4 milioni di dollari in contante e equivalenti.
Le performance del quarto trimestre hanno mostrato un aumento del fatturato del 18,6% a 188,7 milioni di dollari, anche se il margine lordo è diminuito al 15,6% dal 21,8% rispetto all'anno precedente. La controllata dell'azienda, Jingzhou Henglong, ha registrato una crescita notevole, raggiungendo nel dicembre 2024 un record di 620.000 unità nella produzione mensile.
La direzione ha fornito una previsione di fatturato di 700,0 milioni di dollari per l'anno fiscale 2025.
China Automotive Systems (NASDAQ: CAAS) reportó ingresos anuales récord para 2024, con un aumento del 12.9% a 650.9 millones de dólares. Las ventas de Dirección Asistida Eléctrica (EPS) crecieron significativamente un 29.9%, representando el 38.9% de las ventas totales, frente al 33.8% en 2023.
Los principales aspectos financieros incluyen: el beneficio bruto aumentó un 5.2% a 109.2 millones de dólares, el ingreso operativo subió un 2.6% a 40.3 millones de dólares y el ingreso neto diluido por acción fue de 0.99 dólares. La empresa mantuvo una fuerte liquidez con 129.4 millones de dólares en efectivo y equivalentes.
El rendimiento del cuarto trimestre mostró un aumento del 18.6% en ingresos a 188.7 millones de dólares, aunque el margen bruto disminuyó al 15.6% desde el 21.8% en comparación con el año anterior. La subsidiaria de la empresa, Jingzhou Henglong, logró un crecimiento notable, alcanzando en diciembre de 2024 un récord de 620,000 unidades en producción mensual.
La dirección ha proporcionado una guía de ingresos de 700.0 millones de dólares para el año fiscal 2025.
China Automotive Systems (NASDAQ: CAAS)는 2024년 연간 수익이 12.9% 증가한 6억 5천 9백만 달러로 기록적인 수치를 달성했다고 보고했습니다. 전기 파워 스티어링 (EPS) 판매는 29.9% 증가하여 총 판매의 38.9%를 차지하며, 2023년의 33.8%에서 상승했습니다.
주요 재무 하이라이트에는 총 이익이 5.2% 증가하여 1억 9천 2백만 달러에 이르고, 운영 소득이 2.6% 증가하여 4천 3백만 달러에 달하며, 희석 주당 순이익은 0.99달러로 나타났습니다. 회사는 현금 및 현금성 자산으로 1억 2천 9백 4십만 달러의 강력한 유동성을 유지했습니다.
4분기 실적은 수익이 18.6% 증가하여 1억 8천 8백 7십만 달러에 이르렀지만, 총 이익률은 전년 대비 21.8%에서 15.6%로 감소했습니다. 회사의 자회사인 Jingzhou Henglong은 2024년 12월에 월 생산량 62만 대의 기록적인 성장을 달성했습니다.
경영진은 2025 회계연도에 대한 수익 가이드를 7억 달러로 제시했습니다.
China Automotive Systems (NASDAQ: CAAS) a annoncé un chiffre d'affaires annuel record pour 2024, avec une augmentation de 12,9 % à 650,9 millions de dollars. Les ventes de Direction Assistée Électrique (EPS) ont considérablement augmenté de 29,9 %, représentant 38,9 % des ventes totales, contre 33,8 % en 2023.
Les principaux points financiers incluent : le bénéfice brut a augmenté de 5,2 % à 109,2 millions de dollars, le résultat opérationnel a augmenté de 2,6 % à 40,3 millions de dollars, et le bénéfice net dilué par action était de 0,99 dollar. L'entreprise a maintenu une forte liquidité avec 129,4 millions de dollars en liquidités et équivalents.
Les performances du quatrième trimestre ont montré une augmentation de 18,6 % du chiffre d'affaires à 188,7 millions de dollars, bien que la marge brute ait diminué à 15,6 % contre 21,8 % d'une année sur l'autre. La filiale de l'entreprise, Jingzhou Henglong, a connu une croissance notable, atteignant en décembre 2024 un record de 620 000 unités en production mensuelle.
La direction a fourni des prévisions de chiffre d'affaires de 700,0 millions de dollars pour l'exercice fiscal 2025.
China Automotive Systems (NASDAQ: CAAS) meldete für 2024 einen Rekordumsatz von 650,9 Millionen Dollar, was einem Anstieg von 12,9% entspricht. Der Umsatz mit Elektrischer Servolenkung (EPS) wuchs erheblich um 29,9% und machte 38,9% des Gesamtumsatzes aus, verglichen mit 33,8% im Jahr 2023.
Wichtige Finanzkennzahlen umfassen: Der Bruttogewinn stieg um 5,2% auf 109,2 Millionen Dollar, das Betriebsergebnis erhöhte sich um 2,6% auf 40,3 Millionen Dollar, und der verwässerte Gewinn pro Aktie betrug 0,99 Dollar. Das Unternehmen hielt eine starke Liquidität mit 129,4 Millionen Dollar in Bargeld und Äquivalenten.
Die Leistung im vierten Quartal zeigte einen Umsatzanstieg von 18,6% auf 188,7 Millionen Dollar, obwohl die Bruttomarge im Jahresvergleich von 21,8% auf 15,6% sank. Die Tochtergesellschaft Jingzhou Henglong des Unternehmens erzielte ein bemerkenswertes Wachstum und erreichte im Dezember 2024 einen Rekord von 620.000 Einheiten in der monatlichen Produktion.
Das Management hat eine Umsatzprognose von 700,0 Millionen Dollar für das Geschäftsjahr 2025 bereitgestellt.
- Record annual revenue of $650.9 million, up 12.9%
- EPS sales grew 29.9%, now representing 38.9% of total sales
- Operating income increased 2.6% to $40.3 million
- Strong cash position of $129.4 million
- Substantial shareholder returns through $0.80 per share dividend
- Subsidiary Jingzhou Henglong achieved 18.5% growth in 2024
- Gross margin declined to 16.8% from 18.0% in 2023
- Diluted EPS decreased to $0.99 from $1.25 in 2023
- Q4 gross margin dropped to 15.6% from 21.8% year-over-year
- North American market demand weakened
- Commercial vehicle market remains sluggish in China
Insights
CAAS posted record annual revenue of
However, profitability metrics show concerning pressure. Annual gross margin contracted to
Geographic diversification shows mixed results with modest growth in Brazil offsetting weakness in North America, while the Chinese passenger vehicle market remains a bright spot with
The company maintains robust financial health with
While CAAS successfully returned capital to shareholders through dividends and share repurchases, the declining profitability metrics warrant close monitoring, as does the company's ability to maintain pricing power and manage costs effectively in competitive markets.
- Electric Power Steering ("EPS") Sales Increased by
Fourth Quarter 2024 Highlights
- Net sales increased by
18.6% year-over-year to$188.7 million - Gross profit was
$29.5 million $34.7 million 15.6% compared to21.8% in the fourth quarter of 2023 - Operating income was
$8.7 million $13.6 million - Net income attributable to parent company's common shareholders was
$9.1 million $0.30 $10.9 million $0.36
Fiscal Year 2024 Highlights
- Net sales increased by
12.9% to an annual record of$650.9 million $576.4 million - Gross profit increased by
5.2% to$109.2 million $103.8 million 16.8% compared with18.0% in 2023 - Operating income increased by
2.6% to$40.3 million $39.2 million - Diluted net income per share was
$0.99 $1.25 - Total cash and cash equivalents, pledged cash and short-term investments were
$129.4 million - Net cash flow provided by operating activities was
$9.8 million
Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, "We had a solid year in 2024 with record annual revenue, continued profitable operations, positive cash flow from operations, provided a special cash dividend to reward shareholders and initiated a share repurchase program."
"Despite modest economic growth in
"Selling into multiple markets, we experienced a range of growth both domestically and internationally. Our operations in
"We ended the 2024 year strongly as our highest quarterly revenues were in the fourth quarter. For 2024, our subsidiary, Jingzhou Henglong Auto Parts Manufacturing Co., Ltd. ("Jinzhou Henglong") reported 2024 annual production and sales volume exceeded 5.0 million units, representing an
Mr. Jie Li, Chief Financial Officer of CAAS, commented, "We remain in a strong financial position even after spending over
Fourth Quarter of 2024
In the fourth quarter of 2024, net sales increased by
Gross profit was
Selling expenses were
General and administrative expenses ("G&A expenses") were
Research and development expenses ("R&D expenses") were
Operating income was
Interest expense was
Financial income was
Income before income tax expenses and equity in earnings of affiliated companies was
Income tax benefit was
Net income attributable to parent company's common shareholders was
The weighted average number of diluted common shares outstanding was 30,180,947 compared to 30,185,702 in the fourth quarter of 2023.
Fiscal Year 2024
Net sales increased by
Gross profit in 2024 increased by
Net gain on other sales in 2023 was
Selling expenses rose by
G&A expenses increased by
R&D expenses were
Operating income increased by
Interest expense was
Net financial expense was
Income before income tax expenses and equity in earnings of affiliated companies was
Income tax expense was
Net income attributable to parent company's common shareholders was
The weighted average number of diluted common shares outstanding was 30,184,513 in 2024 compared with 30,189,421 in 2023.
Balance Sheet
As of December 31, 2024 total cash and cash equivalents, pledged cash and short-term investments were
Business Outlook
Management provides revenue guidance for the fiscal year 2025 of
Conference Call
Management will conduct a conference call on March 28, 2025 at 8:00 A.M. EDT/8:00 P.M. Beijing Time to discuss these results. A question and answer session will follow management's 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 with pin 826041:
Phone Number: +1-888-506-0062 (
Phone Number: +1-973-528-0011 (International)
Mainland China Toll Free: +86-400-120-3199
A replay of the call will be available on the Company's website under the investor relations section.
About China Automotive Systems, Inc.
Based in
Forward-Looking Statements
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. 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 Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 28, 2025, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Any of these factors and other factors beyond our control, could have an adverse effect on the overall business environment, cause uncertainties in the regions where we conduct business, cause our business to suffer in ways that we cannot predict, and materially and adversely impact our business, financial condition and results of operations. A prolonged disruption or any further unforeseen delay in our operations of the manufacturing, delivery and assembly process within any of our production facilities could continue to result in delays in the shipment of products to our customers, increased costs and reduced revenue. 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:
Jie Li
Chief Financial Officer
China Automotive Systems, Inc.
Email: jieli@chl.com.cn
Kevin Theiss
Investor Relations
+1-212-510-8922
Email: Kevin@awakenlab.com
-Tables Follow -
China Automotive Systems, Inc. and Subsidiaries | ||||||
Consolidated Balance Sheets | ||||||
(In thousands of USD, except share and per share amounts) | ||||||
December 31, | ||||||
2024 | 2023 | |||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | 56,961 | $ | 114,660 | ||
Pledged cash | 44,863 | 40,534 | ||||
Short-term investments | 27,563 | 11,084 | ||||
Accounts and notes receivable, net - unrelated parties (Allowance for credit losses of | 329,275 | 261,237 | ||||
Accounts and notes receivable, net - related parties (Allowance for credit losses of | 14,224 | 8,169 | ||||
Advance payments and others, net - unrelated parties (Allowance for credit losses of | 10,838 | 14,008 | ||||
Advance payments and others - related parties | 2,202 | 1,991 | ||||
Inventories | 112,558 | 112,392 | ||||
Other assets | 4,154 | — | ||||
Total current assets | 602,638 | 564,075 | ||||
Non-current assets: | ||||||
Property, plant and equipment, net | 103,820 | 101,359 | ||||
Land use rights, net | 8,835 | 9,233 | ||||
Intangible assets, net | 3,417 | 3,865 | ||||
Operating lease assets | 94 | 278 | ||||
Long-term time deposits | 40,057 | 8,647 | ||||
Other receivables, net (Allowance for credit losses of | 452 | 598 | ||||
Advance payment for property, plant and equipment - unrelated parties | 2,414 | 3,554 | ||||
Advance payment for property, plant and equipment - related parties | 6,570 | 5,759 | ||||
Other non-current assets | 3,202 | — | ||||
Long-term investments | 64,332 | 60,173 | ||||
Deferred tax assets | 14,748 | 8,899 | ||||
Total assets | $ | 850,579 | $ | 766,440 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
Current liabilities: | ||||||
Short-term bank loans | $ | 72,566 | $ | 48,005 | ||
Accounts and notes payable - unrelated parties | 281,065 | 240,739 | ||||
Accounts and notes payable - related parties | 11,743 | 12,839 | ||||
Customer deposits | 4,447 | 8,633 | ||||
Accrued payroll and related costs | 12,063 | 11,282 | ||||
Accrued expenses and other payables | 59,238 | 44,771 | ||||
Taxes payable | 15,308 | 17,267 | ||||
Operating lease liabilities - current portion | 52 | 203 | ||||
Total current liabilities | 456,482 | 383,739 | ||||
Long-term liabilities: | ||||||
Advances payable | 278 | 282 | ||||
Operating lease liabilities - non-current portion | — | 52 | ||||
Long-term loans | 145 | 1,221 | ||||
Deferred tax liabilities | 3,885 | 3,943 | ||||
Long-term taxes payable | — | 8,781 | ||||
Total liabilities | 460,790 | 398,018 | ||||
Commitments and Contingencies | ||||||
Mezzanine equity: | ||||||
Redeemable non-controlling interests | — | 613 | ||||
Stockholders' Equity | ||||||
Common stock, | 3 | 3 | ||||
Additional paid-in capital | 69,656 | 63,731 | ||||
Retained earnings- | ||||||
Appropriated | 12,180 | 11,851 | ||||
Unappropriated | 290,273 | 284,832 | ||||
Accumulated other comprehensive income | (14,780) | (8,258) | ||||
Treasury stock – 2,167,600 and 2,152,600 shares at December 31, 2024 and 2023, respectively | (7,763) | (7,695) | ||||
Total parent company stockholders' equity | 349,569 | 344,464 | ||||
Non-controlling interests | 40,220 | 23,345 | ||||
Total stockholders' equity | 389,789 | 367,809 | ||||
Total liabilities, mezzanine equity and stockholders' equity | $ | 850,579 | $ | 766,440 | ||
China Automotive Systems, Inc. and Subsidiaries | ||||||
Consolidated Statements of Income or Loss | ||||||
(In thousands of USD, except share and per share amounts) | ||||||
Year Ended December 31, | ||||||
2024 | 2023 | |||||
Net product sales ( | $ | 650,935 | $ | 576,354 | ||
Cost of products sold ( | 541,751 | 472,603 | ||||
Gross profit | 109,184 | 103,751 | ||||
Net gain on other sales | 4,303 | 5,788 | ||||
Operating expenses: | ||||||
Selling expenses | 17,855 | 15,610 | ||||
General and administrative expenses | 27,728 | 25,503 | ||||
Research and development expenses | 27,649 | 29,181 | ||||
Total operating expenses | 73,232 | 70,294 | ||||
Operating income | 40,255 | 39,245 | ||||
Other income, net | 5,776 | 5,345 | ||||
Interest expense | (1,813) | (1,021) | ||||
Financial (expense)/income, net | (87) | 4,666 | ||||
Income before income tax expenses and equity in earnings of affiliated companies | 44,131 | 48,235 | ||||
Less: Income taxes | 5,892 | 5,137 | ||||
Add: Equity in loss of affiliated companies | (340) | (360) | ||||
Net income | 37,899 | 42,738 | ||||
Net income attributable to non-controlling interest | 7,897 | 5,050 | ||||
Accretion to redemption value of redeemable non-controlling interests | (23) | (30) | ||||
Net income attributable to parent company's common shareholders | 29,979 | 37,658 | ||||
Net income attributable to parent company's common shareholders per share - | ||||||
Basic | $ | 0.99 | $ | 1.25 | ||
Diluted | $ | 0.99 | $ | 1.25 | ||
Weighted average number of common shares outstanding - | ||||||
Basic | 30,184,513 | 30,185,702 | ||||
Diluted | 30,184,513 | 30,189,421 | ||||
China Automotive Systems, Inc. and Subsidiaries | ||||||||
Consolidated Statements of Comprehensive Income or Loss | ||||||||
(In thousands of USD unless otherwise indicated) | ||||||||
Year Ended December 31, | ||||||||
2024 | 2023 | |||||||
Net income | 37,899 | 42,738 | ||||||
Other comprehensive income: | ||||||||
Foreign currency translation loss | (7,123) | (5,191) | ||||||
Comprehensive income | 30,776 | 37,547 | ||||||
Comprehensive income attributable to non-controlling interest | 7,296 | 4,704 | ||||||
Accretion to redemption value of redeemable non-controlling interest | (23) | (30) | ||||||
Comprehensive income attributable to parent company | $ | 23,457 | $ | 32,813 | ||||
China Automotive Systems, Inc. and Subsidiaries | ||||||
Consolidated Statements of Changes in Stockholders' Equity | ||||||
(In thousands of USD, except share and per share amounts) | ||||||
2024 | 2023 | |||||
Common Stock | ||||||
Balance at January 1, 2024 and 2023 - 32,338,302 and 32,338,302 shares, respectively | $ | 3 | $ | 3 | ||
Balance at December 31, 2024 and 2023 - 32,338,302 and 32,338,302 shares, respectively | $ | 3 | $ | 3 | ||
Additional Paid-in Capital | ||||||
Balance at January 1 | $ | 63,731 | $ | 63,731 | ||
Change in non-controlling shareholder's interest in the Brazil Henglong | (66) | — | ||||
Contribution by the non-controlling interest of Henglong KYB | 5,991 | — | ||||
Balance at December 31 | $ | 69,656 | $ | 63,731 | ||
Retained Earnings - Appropriated | ||||||
Balance at January 1 | $ | 11,851 | $ | 11,851 | ||
Appropriation of retained earnings | 329 | — | ||||
Balance at December 31 | $ | 12,180 | $ | 11,851 | ||
Unappropriated | ||||||
Balance at January 1 | $ | 284,832 | $ | 247,174 | ||
Net income attributable to parent company | 30,002 | 37,688 | ||||
Accretion of redeemable non-controlling interests | (23) | (30) | ||||
Appropriation of retained earnings | (329) | — | ||||
Dividend payables to common shareholders | (24,149) | — | ||||
Dividend payables to non-controlling interests | (60) | — | ||||
Balance at December 31 | $ | 290,273 | $ | 284,832 | ||
Accumulated Other Comprehensive Loss | ||||||
Balance at January 1 | $ | (8,258) | $ | (3,413) | ||
Net foreign currency translation adjustment attributable to parent company | (6,522) | (4,845) | ||||
Balance at December 31 | $ | (14,780) | $ | (8,258) | ||
Treasury Stock | ||||||
Balance at January 1, 2024 and 2023 –2,152,600 and 2,152,600 shares, respectively | $ | (7,695) | $ | (7,695) | ||
Repurchase of common stock in 2024 and 2023 –15,000 and nil shares, respectively | (68) | — | ||||
Balance at December 31, 2024and 2023 – 2,167,600 and 2,152,600 shares, respectively | $ | (7,763) | $ | (7,695) | ||
Total parent company stockholders' equity | $ | 349,569 | $ | 344,464 | ||
Non-controlling Interest | ||||||
Balance at January 1 | $ | 23,345 | $ | 15,182 | ||
Net foreign currency translation adjustment attributable to non-controlling interest | (601) | (346) | ||||
Net income attributable to non-controlling interest | 7,897 | 5,050 | ||||
Change in non-controlling shareholder's interest in the Brazil Henglong | 66 | — | ||||
Contribution by non-controlling shareholder of Henglong KYB | 9,513 | — | ||||
Contribution by non-controlling shareholder of Wuhan Hyoseong | — | 3,459 | ||||
Balance at December 31 | $ | 40,220 | $ | 23,345 | ||
Total stockholders' equity | $ | 389,789 | $ | 367,809 | ||
China Automotive Systems, Inc. and Subsidiaries | ||||||
Consolidated Statements of Cash Flows | ||||||
(In thousands of USD unless otherwise indicated) | ||||||
Year Ended December 31, | ||||||
2024 | 2023 | |||||
Cash flows from operating activities: | ||||||
Net income | $ | 37,899 | $ | 42,738 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | 20,224 | 18,708 | ||||
Deferred income taxes | (6,036) | (1,319) | ||||
Reversal of credit losses | (953) | 1,564 | ||||
Equity in loss of affiliates | 340 | 360 | ||||
Impairment loss on property, plant and equipment | 886 | 794 | ||||
Loss/(gain) on disposal of fixed assets | 1,300 | (3) | ||||
(Increase)/decrease in: | ||||||
Other assets and other non-current assets | (7,356) | — | ||||
Accounts and notes receivable | (77,692) | (50,699) | ||||
Advance payments and others | 1,540 | (3,881) | ||||
Inventories | (1,791) | (1,654) | ||||
Other receivables | 138 | (556) | ||||
Increase/(decrease) in: | ||||||
Accounts and notes payable | 40,391 | 22,024 | ||||
Customer deposits | (4,097) | 3,091 | ||||
Accrued payroll and related costs | 956 | 77 | ||||
Accrued expenses and other payables | 13,275 | (2,667) | ||||
Taxes payable | (10,457) | (6,835) | ||||
Advances payable | 1,209 | (1,836) | ||||
Net cash provided by operating activities | 9,776 | 19,906 | ||||
Cash flows from investing activities: | ||||||
Purchase of short-term investments and long-term time deposits | (77,859) | (68,550) | ||||
Proceeds from maturities of short-term investments | 29,442 | 63,240 | ||||
Cash received from property, plant and equipment sales | 20,510 | 2,790 | ||||
Cash paid to acquire property, plant and equipment and land use right (including | (43,656) | (18,235) | ||||
Cash paid to acquire intangible assets | (804) | (3,445) | ||||
Cash received from long-term investment | 316 | 3,292 | ||||
Investment under equity method | (5,880) | (7,729) | ||||
Net cash used in investing activities | (77,931) | (28,637) | ||||
Cash flows from financing activities: | ||||||
Proceeds from bank loans | 83,357 | 64,776 | ||||
Repayment of bank loans and loans | (58,995) | (61,437) | ||||
Dividends paid to the common shareholders | (22,433) | — | ||||
Repurchase of common shares | (68) | — | ||||
Cash received from capital contributions by a non-controlling interest holder | 15,504 | 3,459 | ||||
Net cash provided by financing activities | 17,365 | 6,798 | ||||
Cash and cash equivalents affected by foreign currency | (2,580) | (1,824) | ||||
Net decrease in cash, cash equivalents and pledged cash | (53,370) | (3,757) | ||||
Cash, cash equivalents and pledged cash at beginning of year | 155,194 | 158,951 | ||||
Cash, cash equivalents and pledged cash at end of year | $ | 101,824 | $ | 155,194 | ||
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SOURCE China Automotive Systems, Inc.
FAQ
What was CAAS's revenue growth in 2024 and how much did EPS sales increase?
How much cash dividend did CAAS distribute to shareholders in 2024?
What is CAAS's revenue guidance for fiscal year 2025?
How did CAAS perform in Q4 2024 compared to Q4 2023?
What was CAAS's cash position at the end of 2024?
