← China Automotive Systems, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $8.1m |
$5.3m
-34.39%
|
($5.2m)
-197.30%
|
($15.7m)
-204.59%
|
$1.5m
+109.59%
|
$17.4m
+1051.66%
|
$42.7m
+146.09%
|
$37.9m
-11.32%
|
$51.9m
+36.97%
|
$51.9m
0.00%
|
|
| Depreciation and amortization | $2.5m | $1.9m | $1.7m | $1.3m | $1.4m | $1.7m | $18.7m | $20.2m | $14.3m | $14.3m | |
| Amortization of debt issuance cost | — | — | — | — | — | — | $149k | $30k | — | — | |
| Depreciation Amortization Depletion | — | — | — | — | — | $25.2m | $18.7m | $20.2m | $14.3m | $14.3m | |
| Deferred income taxes | ($27k) | $209k | $220k | $218k | ($65k) | $592k | ($1.3m) | ($6.0m) | ($1.4m) | ($1.4m) | |
| Deferred Tax | — | — | — | — | — | $1.2m | ($1.3m) | ($6.0m) | ($1.4m) | ($1.4m) | |
| Payment of payroll taxes on stock-based compensation through shares withheld | — | — | — | — | — | — | — | ($111k) | — | — | |
| Excess tax benefit of stock compensation | $18k | $0 | — | — | — | — | — | — | — | — | |
| Impairment loss on property, plant and equipment | $40k | $114k | — | $37k | $39k | $19.9m | $794k | $886k | $628k | — | |
| Goodwill impairment | — | — | — | — | — | — | — | $6.4m | $20.4m | $628k | |
| Intangible asset impairment | $0 | $7.0m | — | — | — | — | $5.2m | $1.3m | $2.6m | — | |
| Non-cash impairment charges | — | $7.0m | — | — | — | — | — | — | — | — | |
| Asset Impairment Charge | — | — | — | — | — | $2.7m | $794k | $886k | $628k | $628k | |
| Investment under equity method | — | — | — | — | — | — | ($7.7m) | ($5.9m) | ($1.1m) | — | |
| (Income) loss from equity method investment | $417k | ($234k) | — | — | — | — | — | — | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | ($2.4m) | $360k | $340k | ($2.1m) | ($2.1m) | |
| Change In Working Capital | — | — | — | — | — | ($5.5m) | ($42.9m) | ($43.9m) | $48.0m | $48.0m | |
| Other receivables | — | — | — | — | — | — | ($556k) | $138k | ($516k) | — | |
| Adjustment to shareholder receivables | — | — | — | — | — | — | ($10k) | ($4k) | — | — | |
| Accounts receivable | ($8.7m) | $3.3m | $299k | $1.4m | ($11.0m) | ($2.5m) | $4.4m | $4.5m | $2.1m | ($10.1m) | |
| Change In Receivables | — | — | — | — | — | ($36.9m) | ($51.3m) | ($77.6m) | ($10.1m) | ($10.1m) | |
| Changes In Account Receivables | — | — | — | — | — | ($36.9m) | ($50.7m) | ($77.7m) | ($9.6m) | ($10.1m) | |
| Inventories | ($6.6m) | $4.0m | ($435k) | ($913k) | ($5.2m) | ($3.7m) | ($1.7m) | ($1.8m) | ($9.2m) | ($9.2m) | |
| Write-down of inventory | $420k | $542k | $3.2m | $733k | $544k | $102k | $2.6m | $2.8m | $6.5m | — | |
| Transfer of inventory to property, plant, and equipment | $120k | $902k | — | $37k | $39k | $169k | $2.7m | $50k | $8.3m | — | |
| Transfer of property, plant, and equipment to inventory | $22k | $0 | — | $37k | $39k | $19.9m | $2.7m | ($20k) | ($101k) | — | |
| Change In Inventory | — | — | — | — | — | ($5.4m) | ($1.7m) | ($1.8m) | ($9.2m) | ($9.2m) | |
| Accrued expenses and other payables | — | — | — | — | — | — | ($2.7m) | $13.3m | $17.5m | — | |
| Change in accounts payable for acquiring property, plant and equipment | ($1.3m) | ($1.5m) | ($714k) | ($2.7m) | ($3.0m) | ($1.1m) | $960k | $3.5m | $448k | — | |
| Accounts payable | $5.4m | ($10.2m) | ($1.8m) | ($3.6m) | $5.5m | ($1.1m) | $1.0m | $1.6m | $2.2m | $50.1m | |
| Payables due for fixed asset additions | — | — | — | — | — | $152k | $633k | $116k | $257k | — | |
| Change In Payables And Accrued Expense | — | — | — | — | — | $33.3m | $10.8m | $44.2m | $67.3m | $50.1m | |
| Accrued payroll and related costs | — | — | — | — | — | — | $77k | $956k | $2.8m | — | |
| Accrued liabilities | — | — | — | — | — | — | $1.8m | $21k | — | $20.2m | |
| Accrued compensation | — | — | — | — | — | — | ($391k) | $82k | — | — | |
| Accrued federal tax liability, penalties and interest | — | — | — | — | — | — | $786k | $818k | — | — | |
| Accrued income taxes | $573k | ($1.7m) | ($3.0m) | ($2.7m) | $353k | $623k | ($2.9m) | $436k | $733k | — | |
| Accrued and other liabilities | $1.9m | $2.0m | ($6.9m) | $4.7m | $829k | $584k | ($1.9m) | ($5.2m) | ($2.4m) | — | |
| Accrued for asset retirement obligation | — | — | — | — | $36k | — | — | — | — | — | |
| Change In Accrued Expense | — | — | — | — | — | $2.8m | ($2.6m) | $14.2m | $20.2m | $20.2m | |
| Other assets and other non-current assets | — | — | — | — | — | — | — | ($7.4m) | $474k | — | |
| Contract and other assets | ($8.9m) | $10.6m | $12.8m | $324k | ($686k) | ($2.2m) | ($529k) | $4.8m | $3.5m | — | |
| Proceeds from sale of other assets | $0 | $5.7m | — | — | — | — | — | — | — | — | |
| Gain on sale of other assets | $0 | ($2.9m) | — | — | — | — | — | — | — | — | |
| Change In Other Current Assets | — | — | — | — | — | — | $0 | ($7.4m) | $474k | $474k | |
| Net cash provided by operating activities | $34.1m |
($13.8m)
-140.43%
|
$173k
+101.26%
|
($1.7m)
-1061.85%
|
($6.0m)
-258.29%
|
$5.2m
+187.29%
|
$19.9m
+282.51%
|
$9.8m
-50.89%
|
$111.6m
+1041.90%
|
$111.6m
0.00%
|
|
| Cash received from property, plant and equipment sales | $40k | $114k | — | $37k | $39k | $19.9m | $2.8m | $20.5m | $169k | — | |
| Cash paid to acquire property, plant and equipment and land use right (including $23,158, $6,343 and $5,336 paid to related parties for the years ended December 31, 2025, 2024 and 2023, respectively) | ($1.3m) | ($1.5m) | ($714k) | ($2.7m) | ($3.0m) | ($1.1m) | ($18.2m) | ($43.7m) | ($37.2m) | — | |
| Property, plant and equipment recorded during the year which previously were advance payments | $40k | $114k | — | $37k | $39k | $19.9m | $2.7m | $3.6m | $8.3m | — | |
| Purchase of short-term investments and long-term time deposits | — | — | — | — | — | — | ($68.5m) | ($77.9m) | ($32.2m) | — | |
| Proceeds from maturities of short-term investments | — | — | — | — | — | — | $63.2m | $29.4m | $38.6m | — | |
| Cash received from long-term investments | — | — | — | — | — | — | $3.3m | $316k | $3.4m | — | |
| Acquisitions, net of cash and cash equivalents acquired | $0 | — | — | — | ($5.1m) | — | ($34.9m) | — | — | — | |
| Net Other Investing Changes | — | — | — | — | ($17k) | $146k | — | — | — | — | |
| Net cash used in investing activities | ($1.2m) | $4.4m | ($1.8m) | ($12.6m) | ($8.1m) | $18.8m | ($28.6m) | ($77.9m) | ($31.5m) | ($31.5m) | |
| Conversion of interest payable to debt | — | — | — | — | — | — | $2.7m | — | — | — | |
| Net of acquired non-controlling interest over debt forgiveness (See Note 16) | ($332k) | $0 | — | — | — | — | — | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | $51.9m | $64.8m | $83.4m | $35.3m | $35.3m | |
| Long Term Debt Issuance | — | — | — | — | $53.2m | — | $64.8m | $83.4m | $35.3m | $35.3m | |
| Long Term Debt Payments | — | — | — | — | — | ($1.1m) | ($61.4m) | ($59.0m) | ($21.4m) | ($21.4m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | $851k | $3.3m | $24.4m | $13.8m | $13.8m | |
| Net Long Term Debt Issuance | — | — | — | — | — | ($1.1m) | $3.3m | $24.4m | $13.8m | $13.8m | |
| Net Short Term Debt Issuance | — | — | — | — | $2.4m | $2.0m | $3.3m | — | — | $18.7m | |
| Repayment Of Debt | — | — | — | — | — | ($51.0m) | ($61.4m) | ($59.0m) | ($21.4m) | ($21.4m) | |
| Short Term Debt Issuance | — | — | — | — | $53.2m | $51.9m | $64.8m | — | — | $86.4m | |
| Short Term Debt Payments | — | — | — | — | ($50.8m) | ($49.9m) | ($61.4m) | — | — | ($67.7m) | |
| Proceeds from issuance of common stock, net | $12.6m | $1.9m | $210k | — | — | — | — | — | — | — | |
| Common Stock Dividend Paid | — | — | — | — | — | — | $0 | ($22.4m) | ($2.2m) | ($2.2m) | |
| Common Stock Payments | — | — | — | — | — | ($2.4m) | $0 | ($68k) | $0 | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | ($2.4m) | $0 | ($68k) | $0 | $0 | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($2.4m) | $0 | ($68k) | $0 | $0 | |
| Dividends paid to the common shareholders | — | — | — | — | — | — | — | ($22.4m) | ($2.2m) | ($2.2m) | |
| Dividends paid to non-controlling shareholder | — | — | — | — | — | — | — | — | ($199k) | ($2.2m) | |
| Cash Dividends Paid | — | — | — | — | $0 | — | $0 | ($22.4m) | ($2.2m) | ($2.2m) | |
| Net Other Financing Charges | — | — | — | — | ($1.1m) | — | $3.5m | $15.5m | ($199k) | ($199k) | |
| Net cash provided by financing activities | $12.7m |
($2.5m)
-119.49%
|
($157k)
+93.66%
|
($1.5m)
-856.69%
|
$1.2m
+177.63%
|
($8.3m)
-809.01%
|
$6.8m
+182.23%
|
$17.4m
+155.44%
|
$11.5m
-34.05%
|
$11.5m
0.00%
|
|
| Net increase/(decrease) in cash, cash equivalents and pledged cash | $47.2m | ($13.3m) | ($3.4m) | ($14.1m) | ($12.2m) | $14.0m | ($3.8m) | ($53.4m) | $92.5m | — | |
| Cash, cash equivalents and pledged cash at beginning of year | $28.5m | $75.8m | $62.5m | $59.1m | $45.1m | $32.8m | $155.2m | $101.8m | $194.3m | — | |
| Beginning Cash Position | — | — | — | — | — | $159.5m | $159.0m | $155.2m | $101.8m | $101.8m | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | ($14.2m) | ($1.8m) | ($2.6m) | $863k | $863k | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| (Reversal) of/ allowance for credit losses | — | — | — | — | — | — | $1.6m | ($953k) | ($620k) | — | |
| Equity in (gain)/loss of affiliates | — | — | — | — | — | — | $360k | $340k | ($2.1m) | — | |
| Loss/(gain) on disposal of fixed assets | — | — | — | — | — | — | ($3k) | $1.3m | $997k | — | |
| Accounts and notes receivable | — | — | — | — | — | — | ($50.7m) | ($77.7m) | ($9.6m) | — | |
| Advance payments and others | — | — | — | — | — | — | ($3.9m) | $2.7m | ($1.5m) | — | |
| Accounts and notes payable | — | — | — | — | — | — | $22.0m | $40.4m | $50.1m | — | |
| Customer deposits | $38.1m | ($34.5m) | ($933k) | ($1.4m) | $400k | $5.6m | $3.1m | ($4.1m) | $940k | — | |
| Taxes payable | — | — | — | — | — | — | ($6.8m) | ($10.5m) | ($2.7m) | — | |
| Advances payable | — | — | — | — | — | — | ($1.8m) | $12k | ($278k) | — | |
| Cash paid to acquire intangible assets | — | — | — | — | — | — | ($3.4m) | ($804k) | ($3.1m) | — | |
| Proceeds from bank loans | — | — | — | — | — | — | $64.8m | $83.4m | $35.3m | — | |
| Repayment of bank loans and loans | — | — | — | — | — | — | ($61.4m) | ($59.0m) | ($21.4m) | — | |
| Repurchase of common shares | $0 | ($4.0m) | — | ($2.0m) | — | ($4.1m) | — | ($68k) | — | — | |
| Cash received from capital contributions by a non-controlling shareholder | — | — | — | — | — | — | $3.5m | $15.5m | — | — | |
| Cash and cash equivalents affected by foreign currency | $1.7m | ($1.4m) | ($1.6m) | $1.7m | $656k | ($1.7m) | ($1.8m) | ($2.6m) | $863k | — | |
| Cash paid for interest | $269k | $304k | $262k | $265k | $241k | $164k | $1.1m | $1.8m | $1.7m | — | |
| Cash paid for income taxes | — | — | — | — | — | $4.0m | $8.0m | $18.5m | $20.5m | — | |
| Supplemental disclosure of acquisition of operating lease assets | — | — | — | — | — | — | $278k | — | — | — | |
| Unit-based compensation expense | $1.3m | $855k | $573k | $326k | $401k | $543k | $99k | $38k | $1.2m | — | |
| Change in fair value of derivative liabilities | — | — | — | — | — | — | ($649k) | $7.4m | — | — | |
| Change in fair value of warrant liabilities | — | — | — | — | — | — | $16.4m | ($5.8m) | — | — | |
| R&D tax credit receivable | — | — | — | — | — | — | $122k | $112k | — | — | |
| Long term assets | — | — | — | — | — | — | — | ($36k) | — | — | |
| Interest payable | — | — | — | — | — | — | $3.6m | $5.0m | — | — | |
| Interest payable to related parties | — | — | — | — | — | — | $6.4m | $7.1m | — | — | |
| Payable to related parties | — | — | — | — | — | — | $134k | $662k | — | — | |
| Proceeds from loans | $755k | $0 | $9k | — | — | — | $6.2m | $6.4m | — | — | |
| Loan origination fees | — | — | — | — | — | — | — | ($81k) | — | — | |
| Principal payments on finance lease liabilities | — | — | — | — | — | — | ($7k) | — | — | — | |
| Repayment of loans | ($674k) | ($368k) | ($376k) | ($379k) | ($380k) | ($4.9m) | ($521k) | ($10.7m) | ($93k) | — | |
| 349,871 series B units transferred from NACS to Taylor Freres | $0 | — | — | — | — | — | — | $38k | — | — | |
| Provision for allowance for doubtful accounts | ($720k) | $45k | $1.1m | $24k | $44k | ($32k) | $14k | $18k | $30k | — | |
| Loss (gain) on sale of fixed assets | $26k | ($92k) | ($11k) | — | — | ($12.5m) | — | ($2.2m) | $248k | — | |
| Proceeds from the exercise of stock options | — | $1.9m | $210k | $877k | $1.5m | $720k | $1.2m | $85k | $363k | — | |
| Income tax payments, net | $146k | ($980k) | $993k | $2.1m | $1.9m | $386k | $2.8m | $623k | $1.5m | — | |
| Leased assets obtained in exchange for new operating lease liabilities | — | — | — | $5.3m | $3.7m | $3.7m | $57k | $8.2m | $4.7m | — | |
| Leased assets obtained in exchange for new finance lease liabilities | — | — | — | — | $160k | $42k | $46k | $207k | $105k | — | |
| Other, net | — | ($183k) | $95k | $55k | $43k | — | $196k | — | — | — | |
| Return of fixed assets resulting in loan payoff | — | — | — | — | — | — | $184k | — | — | — | |
| Modification of leased assets resulting in a reduction of lease liabilities | — | — | — | — | — | — | $2.3m | — | — | — | |
| Loss on sales of subsidiaries | — | — | ($1.6m) | $13.7m | — | — | — | — | — | — | |
| Net cash disposed of in sales of subsidiaries | — | — | ($1.1m) | ($9.9m) | — | — | — | — | — | — | |
| Capitalized interest | $277k | $143k | $106k | — | — | — | — | — | — | — | |
| Net cash disposed of in sale of subsidiary | — | — | ($1.1m) | — | — | — | — | — | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | ($1.6m) | $6.8m | $17.4m | $11.5m | $11.5m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | ($32.7m) | ($28.6m) | ($77.9m) | ($31.5m) | ($31.5m) | |
| Change In Account Payable | — | — | — | — | — | $27.3m | $22.0m | $40.4m | $50.1m | $50.1m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | ($548k) | ($3.8m) | ($53.4m) | $92.5m | — | |
| Change In Income Tax Payable | — | — | — | — | — | $2.9m | ($6.8m) | ($10.5m) | ($2.7m) | ($2.7m) | |
| Change In Other Working Capital | — | — | — | — | — | $3.6m | $3.1m | ($4.1m) | $940k | $940k | |
| Change In Payable | — | — | — | — | — | $30.5m | $13.4m | $29.9m | $47.1m | $50.1m | |
| Change In Prepaid Assets | — | — | — | — | — | ($41k) | ($3.9m) | $2.7m | ($1.5m) | ($1.5m) | |
| Change In Tax Payable | — | — | — | — | — | $2.9m | ($6.8m) | ($10.5m) | ($2.7m) | ($2.7m) | |
| Changes In Cash | — | — | — | — | — | $13.7m | ($1.9m) | ($50.8m) | $91.6m | $91.6m | |
| End Cash Position | — | — | — | — | — | $159.0m | $155.2m | $101.8m | $194.3m | $194.3m | |
| Financing Cash Flow | — | — | — | — | — | ($1.6m) |
$6.8m
+529.44%
|
$17.4m
+155.44%
|
$11.5m
-34.05%
|
$11.5m
0.00%
|
|
| Free Cash Flow | — | — | — | — | — | $27.5m | ($1.8m) | ($34.7m) | $71.3m | $71.3m | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | $58k | ($3k) | $1.3m | $997k | $997k | |
| Investing Cash Flow | — | — | — | — | — | ($32.7m) | ($28.6m) | ($77.9m) | ($31.5m) | ($31.5m) | |
| Net Business Purchase And Sale | — | — | — | — | — | ($12.8m) | ($7.7m) | ($5.9m) | ($1.1m) | ($1.1m) | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | ($188k) | ($3.4m) | ($804k) | ($3.1m) | ($3.1m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | ($1.1m) | ($2.0m) | ($48.1m) | $9.8m | $9.8m | |
| Net PPE Purchase And Sale | — | — | — | — | — | ($18.8m) | ($15.4m) | ($23.1m) | ($37.0m) | ($37.0m) | |
| Operating Gains Losses | — | — | — | — | — | ($2.3m) | $357k | $1.6m | ($1.1m) | ($1.1m) | |
| Provisionand Write Offof Assets | — | — | — | — | — | $4.4m | $1.6m | ($953k) | ($620k) | ($620k) | |
| Purchase Of Business | — | — | — | — | — | ($12.8m) | ($7.7m) | ($5.9m) | ($1.1m) | ($1.1m) | |
| Purchase Of Intangibles | — | — | — | — | — | ($188k) | ($3.4m) | ($804k) | ($3.1m) | ($3.1m) | |
| Purchase Of Investment | — | — | — | — | — | ($80.2m) | ($68.5m) | ($77.9m) | ($32.2m) | ($32.2m) | |
| Purchase Of PPE | — | — | — | — | — | ($20.3m) | ($18.2m) | ($43.7m) | ($37.2m) | ($40.3m) | |
| Sale Of Investment | — | — | — | — | — | $79.1m | $66.5m | $29.8m | $42.0m | $42.0m | |
| Sale Of PPE | — | — | — | — | — | $1.5m | $2.8m | $20.5m | $169k | $169k | |
| Stock Based Compensation | — | — | — | — | $88k | $0 | — | — | — | — |