China Automotive Systems reports record annual revenue $576.4M; diluted EPS $1.25 (+81.2%)

CHINA AUTOMOTIVE SYSTEMS INC/2

FY2023 net sales $576.4M (+8.8% YoY); Q4 net sales $159.2M (+23.6% YoY).
FY2023 diluted EPS $1.25 vs $0.69; Q4 diluted EPS $0.36 vs $0.14.
EPS product sales +24.6% in 2023, now 33.8% of total revenue.
FY2024 revenue guidance of $605M; cash & equivalents $166.3M at year-end.
Brazil sales +22.9% offset North America -8.5% in 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CHINA AUTOMOTIVE SYSTEMS INC/2 reported the fiscal year ended December 31, 2023 results: revenue $576.4 million, EPS $1.25.

Period: the fiscal year ended December 31, 2023
Revenue: $576.4 million
EPS: $1.25
Result: reported results

Exact text from the filing

Net sales increased by 8.8% to an annual record of $576.4 million compared to $529.6 million in 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CHINA AUTOMOTIVE SYSTEMS INC/2 reported the fourth quarter of 2023 results: revenue $159.2 million, net income $10.9 million, EPS $0.36.

Period: the fourth quarter of 2023
Revenue: $159.2 million
Net income: $10.9 million
EPS: $0.36
Result: reported results

Exact text from the filing

for the fourth quarter and the audited results for the fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights ● Net sales increased by 23.6% year-over-year to $159.2 million ● Gross profit increased by 38.8% to $34.7 million from $25.0 million. Gross margin increased to 21.8% from 19.4% in the fourth quarter of 2022 ● Operating income was $13.6

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Source: SEC EDGAR

accession 0001104659-24-040121

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