China automotive systems reports unaudited 2022 first quarter

Wuhan, china, may 23, 2022 /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 first quarter ended march 31, 2022. first quarter 2022 highlights net sales increased by 4.7% to $136.4 million from $130.3 million in the first quarter of 2021 gross profit was $14.7 million with a gross margin of 10.8%, compared with $19.7 million and a 15.1% gross margin in the first quarter last year loss from operations was $1.5 million compared with income from operations of $4.2 million in the first quarter of 2021 net loss attributable to parent company's common shareholders was $0.06 million, or diluted loss per share of nil, compared to net income attributable to parent company's common shareholders of $3.2 million, or diluted income per share of $0.10 in the first quarter of 2021 cash and cash equivalents, and pledged cash were $109.4 million as of march 31, 2022 mr.
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