China Automotive Systems revenue reaches $412.5 million
- China Automotive Systems (NASDAQ:CAAS) reported first-half 2026 revenue of $412.5 million, up 20.1% year over year, with diluted EPS rising 98%.
- Gross profit increased 49.7% to $88.5 million, while net income attributable to common shareholders reached $29.3 million.
- The company raised full-year 2026 revenue guidance to $850 million, citing continued electric power steering growth and OEM programs.
China Automotive Systems (NASDAQ:CAAS) reported record first-half 2026 net sales of $412.5 million, up 20.1% year over year, as electric power steering sales increased and profitability improved.
The company’s diluted earnings per share rose 98% to $0.97, while gross profit increased 49.7% to $88.5 million, compared with the prior-year period.
Electric power steering sales increased 32.2% to $192.9 million, representing 46.8% of total sales, while income from operations doubled to $43.3 million and free cash flow reached $14.3 million.
China Automotive Systems reported net income attributable to common shareholders of $29.3 million for the first six months of 2026, compared with prior-year results, and ended the period with $155.6 million in cash, cash equivalents, and pledged cash.
China Automotive Systems supplies power steering components and systems for automotive manufacturers, including electric power steering technologies used in passenger and commercial vehicles.
The company raised its full-year 2026 revenue guidance to $850 million, citing continued expansion of electric power steering products, increased OEM programs, and ongoing business development activities.
