China Automotive Systems (CAAS) Tops Q2 EPS by 36c
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China Automotive Systems Reports Almost 200% Increase in Net Income in the Second Quarter of 2022
August 12, 2022 6:00 AM EDTWUHAN, China, Aug. 12, 2022 /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, 2022.
Second Quarter 2022 Highlights
Net sales rose 5.5% to $127.2 million from $120.6 million in the second quarter of 2021.Gross profit increased 43.7%Â to $22.7 million from $15.8 million in the second quarter of 2021; gross margin was 17.9%, compared with 13.1% in... More