China Automotive Systems Inc. (CAAS)

China Automotive Systems, Inc., through its interest in Sino-foreign joint ventures, manufactures power steering systems and other component parts for the automobile industry in China. The company offers automotive parts, power steering gears, automotive steering gears steering pumps, sensor modular, and electric power steering It also offers integral power steering gear and rack, and pinion power steering gear for light and heavy-duty vehicles and cars. The company was founded in 2003 and is headquartered in Jing Zhou City, China.

For the six months ended 30 June 2006, China Automotive Systems, Inc.'s net sales increased 49% to $45.7M. Net income from continuing operation increased 35% to $1.8M. Revenues reflect an increase in sales of domestic passenger vehicles. Net income was partially offset by increased selling expenses due to higher transportation expenses and increased general & administrative expenses due to higher salaries & wages expense.