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Share this article WUHAN, China, May 12, 2021 /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, 2021. First Quarter 2021 Highlights Net sales rose 77.0% to $130.3 million from $73.6 million in the first quarter of 2020 Gross profit increased 75.9% to $19.7 million from $11.2 million in the first quarter of 2020; gross margin was 15.1% compared with 15.2% in the first quarter of 2020 Income from operations increased 320.0% to $4.2 million from $1.0 million in the first quarter of 2020 Net income attributable to parent company s common shareholders was $3.2 million, or diluted income of per share of $0.10, compared to net loss attributable to parent company s common shareholders of $0.03 million, in the first quarter of 2020 

United statesQizhou wuKevin theissJie liExchange commission onPrnewswire china automotive systems incChina automotive systems incExchange commissionCompany formFord motor companyChina association of automobile manufacturersAuto companyBeiqi foton motor co ltdChery automobile co ltdDongfeng auto group co ltdAutomotive systems