China Automotive Systems’ Q1 net income almost flat y/y at USD5.7 million
CAS receives offers from chairman to acquire all outstanding shares
China Automotive Systems’ (CAS) net income increased slightly year on year (y/y) to USD5.7 million in the first quarter ended 31 March 2017, despite recording 2.1% y/y growth in net sales to USD119.3 million, the Chinese steering system supplier said in a press release last week. Higher sales helped CAAS to report 2.5% y/y growth in operating income to USD7.2 million.
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