Clever conclusion to Simplify Your Concepts: China Automotive Systems, Inc. (NASDAQ: CAAS)

On 20 Jan 2020, China Automotive Systems, Inc. (NASDAQ: CAAS) changed -3.70% to recent value of $3.12. The stock negotiated 51790 shares during most current day however it has a typical volume of 120.74 K shares. It found trading -37.60% off 52-week high rate. On the other end, the stock has actually been kept in mind 83.53% away from the low rate over the last 52-weeks.

China Automotive Systems, Inc. (CAAS) recently reported its unaudited financial results for the third quarter and 9 months ended September 30, 2019.

3rd Quarter 2019 Highlights

Net sales were $100.5 M contrast to $112.1 M in the 3rd quarter of 2018;

Gross earnings increased to $17.3 M from $15.4 M, and the gross margin increased to 17.2% from 13.7% in the third quarter of 2018;

Earnings from operations was $4.3 M, with an operating margin of 4.3%, contrast with Income from operations of $1.8 M, or a 1.6% operating margin in the very same quarter in 2015;

Earnings attributable to moms and dad businesss ordinary investors was $4.2 M, or diluted incomes per share of $0.13, contrast to net earnings attributable to moms and dad businesss common shareholders of $0.4 M, or watered down incomes per share of $0.01 in the 3rd quarter of 2018;

About 96,000 shares of ordinary stock were repurchased.

9 Months of 2019 Highlights

Net sales were $315.5 M contrast to $371.9 M in the very first nine months of 2018;

Gross margin was 14.8% contrast with 14.5% in the exact same duration in 2015;

Earnings from operations was $8.1 M contrast with $7.0 M in the same period last year;

Watered down revenues per share attributable to parent businesss ordinary shareholders was $0.26 contrast with $0.17 for the very first 9 months of 2018;

Cash and money equivalents and promised money deposits were $102.3 M as of September 30, 2019;

Net capital from running activities was $4.1 M.

Third Quarter of 2019
In the third quarter of 2019, net sales were $ 100.5 M contrast to $ 112.1 M in the same quarter of 2018. Since of a modification in the item mix and lower domestic sales volume Because of softer demand in the Chinese domestic brand name vehicle market, the decrease in net product sales was generally. Net item sales to North America grew 11.6% to $ 33.8 M contrast to $ 30.3 M for the same quarter in 2018. The boost in export sales to North America was primarily Because of greater sales of the Companys advanced products. Net product sales for the Companys electric power steering (” EPS”) products were $ 18.5 M, or 18.4% of net sales.
Gross profit was $ 17.3 M in the 3rd quarter of 2019, contrast to $ 15.4 M in the third quarter of 2018. Gross margin was 17.2% contrast to 13.7% for the exact same period of 2018, primarily Because of changes in the item mix.
Selling costs were $ 3.6 M in the third quarter of 2019, contrast to $ 3.4 M in the 3rd quarter of 2018. Selling costs represented 3.6% of net sales in the 3rd quarter of 2019, contrast to 3.0% in the third quarter of 2018.
General and administrative expenses (” G&An expenses”) were $ 4.4 M in the third quarter of 2019, contrast to $ 3.7 M in the very same quarter of 2018. Since of higher professional charges, the boost was primarily. G&A costs represented 4.4% of net sales in the third quarter of 2019 contrast with 3.3% in the third quarter of 2018.
Research study and advancement expenses (” R&D costs”) were $ 6.1 M in the 3rd quarter of 2019, contrast to $ 7.0 M in the 3rd quarter of 2018. R&D costs represented 6.1% of net sales in the third quarter of 2019 contrast with 6.1% in the 3rd quarter last year. Because of more strict cost controls over R&D expenses, the lower R&D expenditures were mainly.
CAAS has a gross margin of 13.20% and an operating margin of -0.40% while its profit margin stayed 1.20% for the last 12 months. The company has 30.93 M of impressive shares and 11.61 M shares were floated in the market. The price moved ahead of -2.74% from the mean of 20 days, 1.17% from mean of 50 days SMA and carried out 26.36% from mean of 200 days cost.

Net product sales for the Companys electric power steering (” EPS”) products were $ 18.5 M, or 18.4% of net sales.
G&An expenditures represented 4.4% of net sales in the third quarter of 2019 contrast with 3.3% in the third quarter of 2018.
R&D expenses represented 6.1% of net sales in the third quarter of 2019 contrast with 6.1% in the third quarter last year. CAAS has a gross margin of 13.20% and an operating margin of -0.40% while its earnings margin remained 1.20% for the last 12 months. The rate moved ahead of -2.74% from the mean of 20 days, 1.17% from mean of 50 days SMA and performed 26.36% from mean of 200 days price.

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Roberta Mueller

Roberta Mueller– Financial My name is Roberta Mueller, and I am the mainstream behind the”Magnewspress.com”  for the powerful and most delicate insights into the latest activities in the Research Analysts category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am a free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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