According to Zhihong Finance APP, China Automotive Systems (CAAS.US) announced that its board of directors has approved a share buyback plan of up to 5 million USD, which will be conducted regularly in the open market over the next 12 months, with a buyback price not exceeding 5.50 USD per share. Boosted by this news, as of the time of writing, China Automotive Systems rose over 6% in Monday's pre-market trading to 4.33 USD.

It is reported that this share buyback plan will end on November 15, 2025, and the timing of the share buyback will depend on various factors including market conditions. The chairman of China Automotive Systems, Hanlin Chen, stated: "Our current stock valuation does not reflect our ongoing profitable sales growth, cash flow generation, technological advances, and global market position. Looking ahead, whether vehicles are powered by internal combustion engines, electrical utilities, or fuel cell energy, and whether they have human drivers or are autonomous, steering remains key to the performance and safety of all vehicles. China Automotive Systems has the best products on the market."

According to statistics, in the first nine months of 2024, China Automotive Systems had net sales of 0.4622 billion USD, with net income attributable to the ordinary shareholders of the parent company amounting to 20.9 million USD. As of September 30, 2024, cash and cash equivalents and pledged cash totaled 0.1388 billion USD.