China automotive systems reports 12.9% revenue increase to annual record

-  electric power steering ("eps") sales increased by 29.9% in 2024 - wuhan, china , march 28, 2025 /prnewswire/ -- china automotive systems, inc. (nasdaq: caas) ("caas" or the "company"), a leading power steering components and systems supplier in china, today announced its unaudited financial results for the fourth quarter and the audited results for the fiscal year ended december 31, 2024. fourth quarter 2024 highlights net sales increased by 18.6% year-over-year to $188.7 million gross profit was $29.5 million from $34.7 million.
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