← 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $83.1m |
$100.1m
+20.44%
|
$85.0m
-15.01%
|
$65.5m
-23.02%
|
$85.2m
+30.16%
|
$106.3m
+24.76%
|
$0
-100.00%
|
$542k |
$79.4m
+14538.32%
|
$765.7m
+864.84%
|
|
| Net product sales ($33,528, $48,860 and $47,514 sold to related parties for the years ended December 31, 2025, 2024 and 2023) | — | — | — | — | — | — | $576.4m | $650.9m | $765.7m | — | |
| Net gain on other sales | — | — | — | — | — | — | $5.8m | $4.3m | $3.6m | — | |
| Revenue, net | $83.1m | $100.1m | $85.0m | $65.5m | $85.2m | $106.3m | $113.3m | $101.2m | $79.4m | — | |
| Cost of products sold ($34,038, $30,088 and $27,288 purchased from related parties for the years ended December 31, 2025, 2024 and 2023) | $52.0m |
$63.1m
+21.49%
|
$51.7m
-18.15%
|
$41.0m
-20.62%
|
$50.7m
+23.53%
|
$66.8m
+31.79%
|
$472.6m
+607.63%
|
$541.8m
+14.63%
|
$620.3m
+14.49%
|
— | |
| Cost of Goods Sold | $52.0m |
$63.1m
+21.49%
|
$51.7m
-18.15%
|
$41.0m
-20.62%
|
$50.7m
+23.53%
|
$66.8m
+31.79%
|
($103.8m)
-255.35%
|
$448k
+100.43%
|
($66.1m)
-14851.11%
|
$620.3m
+1038.40%
|
|
| Gross profit | $31.1m |
$36.9m
+18.68%
|
$33.4m
-9.65%
|
$24.4m
-26.73%
|
$34.5m
+41.28%
|
$39.5m
+14.43%
|
$103.8m
+162.59%
|
$109.2m
+5.24%
|
$145.5m
+33.23%
|
$145.5m
0.00%
|
|
| Research and development expenses | — | — | — | — | — | — | $29.2m | $27.6m | $45.1m | $45.1m | |
| General and administrative expenses | $24.7m | $25.7m | $24.3m | $21.4m | $24.7m | $28.3m | $25.5m | $27.7m | $29.7m | $24.8m | |
| Restructuring charges | $0 | $897k | $1.1m | $217k | $86k | $0 | $665k | $350k | $701k | — | |
| Total operating expenses | — | — | — | — | — | — | $70.3m | $73.2m | $95.4m | $85.9m | |
| Operating income | $3.6m |
$6.1m
+66.77%
|
$4.9m
-19.04%
|
($485k)
-109.87%
|
$3.7m
+868.04%
|
$17.3m
+364.05%
|
$39.2m
+127.03%
|
$40.3m
+2.57%
|
$53.6m
+33.23%
|
$59.5m
+11.00%
|
|
| Interest expense | — | — | — | — | ($239k) | ($164k) | ($1.0m) | ($1.8m) | ($1.7m) | $1.7m | |
| Interest income | — | — | — | — | $53k | $210k | $366k | $57k | $239k | $1.6m | |
| Gain on sale of other assets | $0 | $2.9m | — | — | — | — | — | — | — | — | |
| Other income, net | $379k | $738k | $852k | $162k | $284k | $387k | $5.3m | $5.8m | $7.1m | $2.3m | |
| Total other income (expense): | — | — | — | — | — | — | ($26.0m) | ($14.1m) | — | — | |
| Income before income tax expenses and equity in earnings of affiliated companies | $9.8m | $5.5m | — | — | — | — | $48.2m | $44.1m | $61.4m | $61.4m | |
| Loss before income taxes | $3.6m | $9.9m | $5.8m | ($3.1m) | $3.4m | $18.8m | ($15.2m) | ($7.5m) | ($28.0m) | — | |
| Less: Income taxes | $1.4m | $3.3m | $2.6m | $791k | $1.9m | $1.4m | $5.1m | $5.9m | $11.6m | — | |
| 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%
|
$42.8m
-17.48%
|
|
| Net income attributable to non-controlling interest | $1.0m | $0 | — | — | — | — | $5.0m | $7.9m | $9.1m | — | |
| Net loss attributable to non-controlling interest - discontinued operations | $1.0m | — | — | — | — | — | — | — | — | — | |
| Net income attributable to parent company's common shareholders | $9.1m | $5.3m | ($5.2m) | ($15.7m) | $1.5m | $17.4m | $37.7m | $30.0m | $42.8m | $42.8m | |
| Basic (in dollars per share) | $0.68 | $0.36 | ($0.36) | ($1.11) | $0.11 | $1.24 | $1.42 | $1.26 | $1.72 | — | |
| Diluted (in dollars per share) | $0.68 | $0.35 | ($0.36) | ($1.11) | $0.11 | $1.22 | $1.42 | $1.26 | $1.72 | — | |
| Basic income (loss) per share from continuing operations | $0.16 | $0.45 | $0.22 | ($0.28) | $0.11 | $1.24 | — | — | — | — | |
| Basic loss per share from discontinued operations | $0.52 | ($0.09) | ($0.58) | ($0.83) | — | — | — | — | — | — | |
| Diluted income (loss) per share from continuing operations | $0.16 | $0.44 | $0.22 | ($0.28) | $0.11 | $1.22 | — | — | — | — | |
| Diluted loss per share from discontinued operations | $0.52 | ($0.09) | ($0.58) | ($0.83) | — | — | — | — | — | — | |
| Weighted average number of units, basic (in shares) | $13.4m | $14.8m | $14.2m | $14.2m | $14.2m | $14.0m | $188.6m | $312.3m | $14.3m | — | |
| Weighted average number of units, diluted (in shares) | $13.5m | $15.1m | $14.3m | $14.2m | $14.3m | $14.2m | $188.6m | $312.3m | $14.3m | — | |
| Selling expenses | — | — | — | — | — | — | $15.6m | $17.9m | $20.7m | — | |
| Financial income/(expense), net | — | — | — | — | — | — | $4.7m | ($87k) | $2.4m | — | |
| Add: Equity in earnings of affiliated companies | ($417k) | $234k | — | — | — | — | ($360k) | ($340k) | $2.1m | — | |
| Accretion to redemption value of redeemable non-controlling interests | — | — | — | — | — | — | ($30k) | ($23k) | — | — | |
| Depreciation and amortization | — | — | — | — | — | — | $37k | $33k | — | $1.8m | |
| Change in fair value of derivative liabilities | — | — | — | — | — | — | $649k | ($7.4m) | — | — | |
| Change in fair value of warrant liabilities | — | — | — | — | — | — | ($16.4m) | $5.8m | — | — | |
| Intangible asset impairment | — | — | — | — | — | — | $4.6m | $849k | $2.6m | — | |
| Research, development and engineering | $2.7m | $2.9m | $3.1m | $3.3m | $6.0m | $6.4m | $7.3m | $4.2m | $2.6m | $45.1m | |
| Loss (gain) on sale of fixed assets | — | — | — | — | — | ($12.5m) | — | ($2.2m) | $248k | — | |
| Goodwill impairment | — | — | — | — | — | — | — | $6.4m | $20.4m | — | |
| Severance expense | $0 | $897k | $1.1m | $217k | $86k | $0 | $665k | $350k | $701k | — | |
| Foreign currency (loss) gain | — | — | — | — | ($389k) | $1.1m | ($89k) | ($345k) | $199k | — | |
| Loss on sale of subsidiary | — | — | $0 | ($2.8m) | $0 | $0 | — | — | — | — | |
| Income (loss) from continuing operations, net of tax | $2.2m | $6.6m | $3.1m | ($3.9m) | $1.5m | $17.4m | — | — | — | — | |
| Loss from discontinued operations, net of tax | $5.9m | ($1.3m) | ($8.3m) | ($11.8m) | — | — | — | — | — | — | |
| Impairment charges | $0 | $2.2m | $0 | — | — | — | — | — | — | — |