China Automotive Systems, Inc. (CAAS) 2013年年度报告「NASDAQ」.pdf

1、 FY 2013 ANNUAL REPORT Based in Hubei Province,Peoples Republic of China,CHINA AUTOMOTIVE SYSTEMS,INC.is a leading supplier of power steering components and systems to the Chinese automotive industry and is exporting into the North American market.The company operates through three wholly-owned subs

2、idiaries in China and America and ten Sino-foreign joint ventures in China.o Henglong USA Corporation Great Genesis Holdings Limited Shenyang Jinbei Henglong Automotive Steering System Co.,Ltd.Hubei Henglong Automotive System Group Co.,Ltd.o Shashi Jiulong Power Steering Co.o Wuhu Henglong Electric

3、Power Steering Co.,Ltd.o Wuhan Jielong Steering System Co.,Ltd.o Universal Sensor Application,Inc.o Beijing Henglong Automotive System Co.,Ltd.o Chongqing Henglong Hongyan Automotive System Co.,Ltd.o CAAS Brazils Imports And Trade In Automotive Parts Ltd.Jingzhou Henglong Automotive Parts Co.Jingzho

4、u Henglong Automotive Technology(Testing)Centre DEAR SHAREHOLDERS,We are pleased to report record sales for the 2013 year as we gained market share in both the passenger and commercial vehicle markets in China.Our overall market share grew in 2013 as our total annual sales growth of 23.6%year-over-y

5、ear surpassed the 14.0%industry vehicle growth as reported by the China Association of Automobile Manufacturers(“CAAM”).Our record annual sales of$415.2 million resulted from higher unit sales in the Chinese and foreign markets in 2013.Export sales to Chrysler in North America continued strong and o

6、ur new electric power steering(EPS)products experienced robust domestic sales.Greater economies-of-scale and strict cost controls improved our profit margins.Diluted earnings per share were$0.95 in 2013 compared with$0.70 in 2012.Net cash flow from operating activities was$12.8 million for the 2013