China Automotive Systems (CAAS) Tops Q2 EPS by 3c
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China Automotive Systems Reports 45.0% Net Sales Increase in the Second Quarter of 2021
August 12, 2021 7:00 AM EDTWUHAN, China, Aug. 12, 2021 /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 second quarter and six months ended June 30, 2021.
Second Quarter 2021 Highlights
Net sales rose 45.0% to $120.6 million from $83.2 million in the second quarter of 2020; Gross profit increased 102.6%Â to $15.8 million from $7.8 million in the second quarter of 2020; gross margin was 13.1% compared with 9.4% in the first quarter of 2020; Income from operations was... More