China Automotive Systems, Inc. (CAAS.US) reported a year-on-year revenue growth of 19.4% in Q3 and raised its full-year revenue guidance to $630 million.

China Automotive Systems, Inc. (CAAS.US) announced its third quarter performance for 2024. The data shows that the company's revenue increased by 19.4% year-on-year to $164.2 million, with a net profit attributable to common stockholders of $5.5 million, and diluted earnings per share of $0.18. Gross profit increased by 6.5% year-on-year to $26.4 million, with a gross margin of 16.0%, compared to 18.0% in the same period last year. As of September 30, 2024, the company had cash and cash equivalents, as well as pledged cash, totaling $138.8 million, or $4.60 per share. In August 2024, the company paid a special cash dividend of $0.80 per common share to shareholders. Looking ahead, management has raised its revenue guidance for the full year 2024 to $630 million, up from $605 million previously.