China Automotive Sys Up 6.27% To $3.56 After Earnings

China Automotive Sys (CAAS) said before open Thursday that it broke even in quarter four 2023.

In the same quarter a year ago, the company earned $0.14 per share on revenue of $128.8 million.

The stock is up 6.27% to $3.56 after the report.

China Automotive Sys's profit margins maintained as both earnings and revenue declined at the same pace.

Trading in the five days leading up to the report earned China Automotive Sys a Bearish Sentiment Rank from InvestorsObserver.

China Automotive Sys has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 13, putting China Automotive Sys in the bottom 25% of stocks. The firm set a 52-week low on November 16, 2023 at $3.04 and set a 52-week high on March 29, 2023 at $6.09.

China Automotive Systems Inc is a holding company. The firm through its subsidiary is a supplier of power steering systems and components to China's automotive industry. Its product offering encompasses a full range of auto parts incorporated into steering systems for both passenger automobiles and commercial vehicles. The company offers four separate series, more than 310 models of power steering including rack and pinion power steering, integral power steering, electronic power steering and manual steering, steering columns, steering oil pumps, and steering hoses. Geographically, it derives a majority of revenue from China.