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Accessibility StatementSkip Navigation WUHAN, China, Nov. 12, 2025 /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, 2025. Third Quarter 2025 Highlights First Nine Months of 2025 Highlights Mr. Qizhou Wu, Chief Executive Officer of CAAS, commented, "We continued to grow our sales, gross profit, net ...

Core Viewpoint - China Automotive Systems, Inc. (CAAS) has signed a strategic cooperation memorandum of understanding (MoU) with KYB-UMW Sdn Bhd in Malaysia, aiming to enhance local manufacturing and regional services in the automotive sector [1][3][5]. Group 1: Strategic Partnership - The MoU establishes a deep partnership that includes technology transfer, collaborative production, and joint future planning, moving beyond a simple product export model [3][4]. - Initial products will be supplied to Perodua, Malaysia's national automotive brand, with plans to explore opportunities in the OEM and aftermarket sectors across the ASEAN region [3][7]. Group 2: Manufacturing and Technology - The collaboration will focus on the local production of key automotive components such as electric power steering (EPS) systems and mechanical steering gears (MSG) [4][5]. - A new advanced manufacturing plant (SP25) is under construction and expected to be operational in 2026, dedicated to producing steering system products using Hubei Henglong technology [5][6]. Group 3: Market Impact - This partnership is seen as a significant step in the internationalization strategy of Hubei Henglong, enhancing its competitiveness in the automotive systems supply chain [4][7]. - The collaboration aims to create a smart manufacturing ecosystem in Malaysia, shifting the focus from "supply chain reciprocity" to "value chain co-creation" [5][7].

Core Viewpoint - China Automotive Systems Inc. (NASDAQ: CAAS) is a supplier of power steering components and systems for the automotive industry, but it has faced challenges in achieving its goals [1]. Group 1: Company Overview - CAAS specializes in providing power steering components and systems, which are essential for modern automotive manufacturing [1]. Group 2: Market Position - The company has been closely monitored by investors and analysts, indicating a significant interest in its performance and potential growth within the automotive sector [1].

Core Viewpoint - China Automotive Systems, Inc. (CAAS) has launched an active rear-wheel steering system through its subsidiary, Jingzhou Henglong, aimed at enhancing driving experience in upper mass-market vehicles, particularly in the new energy vehicle segment priced around RMB 200,000 [1][7]. Group 1: Product Innovation - The active rear-wheel steering system utilizes a ball screw and nut mechanism, integrating vehicle speed and steering wheel angle to control rear wheel steering [2]. - At speeds below 60 km/h, the rear wheels steer in the opposite direction to the front wheels, effectively reducing the turning radius [3]. - At speeds above 60 km/h, the rear wheels steer in the same direction as the front wheels, improving vehicle stability and handling during high-speed maneuvers [4]. Group 2: Production and Market Position - Jingzhou Henglong has established a dedicated production line for the active rear-wheel steering system and has developed systems for multiple OEM models, emphasizing flexible steering and vehicle stability [5]. - The company showcased its technologies at the 2025 Shanghai Auto Show, demonstrating performance and reliability, which garnered significant industry attention and fostered deeper relationships with mainstream OEMs [6]. Group 3: Market Context - China has become the world's largest electric vehicle market, with EVs constituting approximately 50% of all new automobile sales, positioning CAAS to enhance its Advanced Driver Assistance Systems (ADAS) capabilities [7]. - The innovative steering system employs two independent motors for precise control of the rear wheel steering angle, differentiating it from conventional systems [7]. Group 4: Company Overview - CAAS is a leading supplier of power steering components and systems in China, operating through sixteen joint ventures and wholly owned subsidiaries, with an annual production capacity exceeding 8 million sets of steering gears, columns, and hoses [8]. - The company's customer base includes major automotive manufacturers in China and North America, such as China FAW Group, Dongfeng Auto Group, BYD, and Stellantis [8].

Core Viewpoint - China Automotive Systems, Inc. has successfully completed its redomiciliation merger to become a Cayman Islands company, which is expected to enhance its operational flexibility and market presence [1][2]. Company Overview - China Automotive Systems, Inc. is a leading supplier of power steering components and systems in China, operating through sixteen Sino-foreign joint ventures and wholly owned subsidiaries [3]. - The company offers a comprehensive range of steering system parts for both passenger automobiles and commercial vehicles, with an annual production capacity exceeding 8 million sets of steering gears, columns, and hoses [3]. - Its customer base includes major automotive manufacturers such as China FAW Group, Dongfeng Auto Group, BYD Auto, Beiqi Foton Motor, Chery Automobile, Stellantis N.V., and Ford Motor Company [3]. Redomiciliation Details - As part of the redomiciliation merger, each outstanding share of the company's common stock was converted into the right to receive one ordinary share of the newly incorporated CAAS Cayman, which will continue to trade under the symbol "CAAS" on NASDAQ [2].

Group 1 - The 2025 Special Stockholders Meeting is presided over by Chairman Hanlin Chen, with the meeting starting at 9:00 a.m. [1] - Present at the meeting are various directors, management members, legal advisers, independent auditors, and shareholders [2] - The meeting will begin with the official business portion, followed by a question-and-answer session [3] Group 2 - Attendees are reminded to ensure they have registered for the meeting [4] - Shareholders are instructed to wait for recognition before addressing the meeting, and all questions should be directed to the Chairman [4]

Core Points - China Automotive Systems, Inc. will hold a Special Meeting of Stockholders on September 10, 2025, at 9:00 AM local time in Wuhan, China [1] - A conference room will be available for US shareholders to participate via TEAMS connection on September 9, 2025, at 9:00 PM EDT [1] - The company is a leading supplier of power steering components and systems in China, operating through sixteen joint ventures and wholly owned subsidiaries [2] - China Automotive Systems has an annual production capacity of over 8 million sets of steering gears, columns, and hoses [2] - The customer base includes major automotive manufacturers in China and North America, such as China FAW Group, Dongfeng Auto Group, BYD Auto, Stellantis N.V., and Ford Motor Company [2]

Core Viewpoint - The company, China Automotive Systems (CAAS), is experiencing a mixed financial performance with a revenue increase but a decline in net profit, indicating potential challenges ahead in the automotive steering systems market [1]. Financial Performance - As of March 31, 2025, CAAS reported total revenue of $167 million, representing a year-on-year growth of 19.87% [1]. - The net profit attributable to the parent company was $7.122 million, which reflects a year-on-year decrease of 13.85% [1]. Market Activity - On August 20, CAAS's stock price increased by 2.73%, reaching $4.14 per share, with a trading volume of $33,100 and a total market capitalization of $125 million [1]. - The company is scheduled to disclose its fiscal year 2025 interim report on August 13, prior to the market opening [1]. Company Background - China Automotive Systems, based in Hubei, China, is a leading supplier in the automotive power steering systems and components industry, operating through 16 subsidiaries [1]. - The company has nearly 30 years of experience in the manufacturing of automotive power steering systems [1].

Group 1 - The core viewpoint of the news highlights the financial performance and stock movement of China Automotive Systems (CAAS), indicating a mixed financial outlook with revenue growth but a decline in net profit [1][2]. - As of August 14, CAAS shares increased by 2.07%, reaching $4.185 per share, with a total market capitalization of $126 million [1]. - Financial data shows that for the fiscal year ending March 31, 2025, CAAS is projected to have total revenue of $167 million, representing a year-on-year growth of 19.87% [1]. Group 2 - The company is set to release its fiscal year 2025 interim report on August 13, with the actual disclosure date subject to company announcements [2]. - CAAS is recognized as a leading supplier in the automotive power steering systems and components industry in China, operating through 16 subsidiaries [2]. - The company has nearly 30 years of experience in the manufacturing of automotive power steering systems [2].