China Automotive Systems (CAAS) Misses Q2 EPS by 9c, Revenues Miss
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China Automotive Systems Reports 2020 Second Quarter Unaudited Financial Results
August 14, 2020 6:00 AM EDTWUHAN, China, Aug. 14, 2020 /PRNewswire/ -- China Automotive Systems, Inc. ("CAAS" or the "Company") (NASDAQ: CAAS), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2020.
 Second Quarter 2020 Highlights
Net sales were $83.2 million as compared to $105.7 million in the second quarter of 2019; Gross profit was $7.8 million and the gross margin decreased to 9.4% from 14.4% in the second quarter of 2019; Loss from operations was $5.2 million compared with income from operations of... More