Why China Automotive Systems Shares Are Shooting Higher Today
Why China Automotive Systems Shares Are Shooting Higher Today
China Automotive Systems, Inc (NASDAQ:CAAS) shares are trading higher after the company reported fourth-quarter FY23 sales growth of 23.6% year-on-year to $159.20 million.
The gross profit margin expanded by 240 basis points Y/Y to 21.8%, and the gross profit climbed 38.8% to $34.7 million.
The operating income for the quarter was $13.6 million versus an operating loss of $(2.6) million in the fourth quarter of 2022.
The company held total cash and cash equivalents, pledged cash and short-term investments of $166.3 million at year end.
Net income attributable to the parent company's common shareholders rose by 153.5% to $10.9 million from $4.3 million last year.
The company reported an EPS of $0.36 compared to $0.14 last year.
"We expect our North America business to recover in 2024 and domestic China market to stabilize. We remain optimistic about our market positions as many of our Chinese OEM customers are preparing for aggressive global expansion," said CEO Qizhou Wu.
Outlook: China Automotive Systems expects FY24 revenue of $605 million against an estimate of $593.11 million
Price Action: CAAS shares are trading higher by 7.12% at $3.61 in premarket Thursday.
China Automotive Systems, Inc (NASDAQ:CAAS) shares are trading higher after the company reported fourth-quarter FY23 sales growth of 23.6% year-on-year to $159.20 million.
中國汽車系統公司（納斯達克股票代碼：CAAS）股價走高，此前該公司報告稱，23財年第四季度銷售額同比增長23.6％，達到1.5920億美元。
The gross profit margin expanded by 240 basis points Y/Y to 21.8%, and the gross profit climbed 38.8% to $34.7 million.
毛利率同比增長240個點子至21.8％，毛利增長38.8％，至3,470萬美元。
The operating income for the quarter was $13.6 million versus an operating loss of $(2.6) million in the fourth quarter of 2022.
該季度的營業收入爲1,360萬美元，而2022年第四季度的營業虧損爲260萬美元。
The company held total cash and cash equivalents, pledged cash and short-term investments of $166.3 million at year end.
截至年底，該公司持有的現金及現金等價物、認捐現金和短期投資總額爲1.663億美元。
Net income attributable to the parent company's common shareholders rose by 153.5% to $10.9 million from $4.3 million last year.
歸屬於母公司普通股股東的淨收益從去年的430萬美元增長了153.5％，至1,090萬美元。
The company reported an EPS of $0.36 compared to $0.14 last year.
該公司報告的每股收益爲0.36美元，而去年爲0.14美元。
"We expect our North America business to recover in 2024 and domestic China market to stabilize. We remain optimistic about our market positions as many of our Chinese OEM customers are preparing for aggressive global expansion," said CEO Qizhou Wu.
“我們預計我們的北美業務將在2024年復甦，中國國內市場將趨於穩定。我們對我們的市場地位保持樂觀，因爲我們的許多中國OEM客戶正在爲積極的全球擴張做準備。” 首席執行官吳啓洲說。
Outlook: China Automotive Systems expects FY24 revenue of $605 million against an estimate of $593.11 million
展望：中國汽車系統預計24財年收入爲6.05億美元，而估計爲5.9311億美元
Price Action: CAAS shares are trading higher by 7.12% at $3.61 in premarket Thursday.
價格走勢：週四盤前CAAS股價上漲7.12％，至3.61美元。
譯文內容由第三人軟體翻譯。
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