http://finance.yahoo.com/q?s=CAAS
CAAS is still gaining today even after yesterday's 30%+ run up.
Last year at this time it jumped to over $15
In at 7.99 >:D
Thanks fill_the_gap
Kublakhan,
What is your exit strategy for this one ?
It has been fun so far.
Trades like this each year.
Looking to sell and short soon. :o
CAAS up ~ 100% in the last 2 days. Looks like a good opportunity to short unless it runs for 5 days like CHNR
Chinese auto parts maker has some nice numbers. +20%
As the industry grows in China, CAAS will benefit. Not to mention potential exports.
http://finance.yahoo.com/q?s=CAAS
Fortune cookie say:
"Man who walk through airport metal detector sideways going to Bangkok!"
looking good up 13% :)
the chart shows that it seems to run well and then cool off.
Do not be a bag holder.
http://finance.yahoo.com/q/bc?s=CAAS&t=2y&l=on&z=m&q=l&c=
CAAS ran and ran hard today because of good earnings.
Third Quarter 2006 Highlights: -- Total net sales for the period increased to US$22.7 million, reflecting a 54% year-over-year growth; -- Net sales from steering components for passenger and light-duty vehicles increased to US$13.6 million, reflecting a 49% year-over-year growth; -- Net sales from steering components for commercial vehicles increased to US$6.4 million, reflecting an 73% increase year-over-year; -- Operating income for the third quarter of 2006 increased to $3.4 million, reflecting a 22% year-over-year growth; -- Net income rose to $1.5 million, reflecting a 42% year-over-year growth; and -- Diluted earnings per share was US$0.07, an increase of 40% year-over- year.
Will watch for a pullbac to somewhere near 9.50. As you can see from last February CAAS can run fast. >:D
Whoops Chart ;D
Never got in but got close to my 9.50. CAAS hit 9.69 and is now running above $11. :-\
Waiting for this one to drop to 9.50. As you can see from the history of CAAS. It can run.
Lastest earnings were great ;D
Thoughts on CAAS these days?
CAAS...look ready to move. China Automotive...news out this morning and earnings should be coming out the first or second week of November.
China Automotive Forms New Subsidiary
Monday October 29, 10:31 am ET
China Automotive Systems Forms New Subsidiary to Focus on Joint Ventures, Global Markets
NEW YORK (AP) -- China Automotive Systems Inc., a power-steering components and systems supplier, said Monday it formed a new Chinese subsidiary to focus on Chinese joint ventures and help to penetrate global markets.
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Over the next three years, China Automotive expects to invest about $30 million in Jingzhou Hengsheng Automotive Systems Co. The unit is based in the same city as the parent company in Jingzhou City, China.
China Automotive said the first phase of Hengsheng's new facilities, with a capacity of 700,000 power steering units, is expected to be fully constructed by the end of 2008. Hengsheng will gradually install new equipment, complete testing and ramp up production capacity in the next 3 years to reach a designed capacity of 1.3 million units by 2010 -- more than doubling China Automotive's current capacity of approximately 1.1 million units.
"As China Automotive Systems continues its rapid sales growth and geographic expansion, it is essential to further expand our production capacity to meet the demands of the domestic high-end market and overseas customers," said Qizhou Wu, chief executive of China Automotive Systems.
The company also said Hengsheng will focus on opportunities with joint-venture original equipment makers in China and in other foreign markets. Meanwhile, Hengsheng will benefit from an income tax exemption through 2010, followed by preferential tax treatment.
China Automotive offers a range of steering system parts for cars and commercial vehicles.
CAAS. China Automotive.
Looking good here. :DI think this one will run along with CYD and WATG
Market cap only $200 million.
Looks very nice chart. I think there is good upside in this stock.
Have a look at SORL as well in this space.
Lots of traction and exclusive supplier in Tianjing
and got a 25% share of Beijing in air brakes market.
The auto parts market in China is definitely hotting up.
Could be a great sector specially with Olympics coming and the economic
expansion super hot.
CAAS really took off in the past half hour of trading. Volume exploded. :o
News out this morning. ;D
China Automotive Systems Enters U.S. Aftermarket Market
Monday December 10, 8:00 am ET
-- Contract Signed with R&B --
WUHAN, Hubei, China, Dec. 10 /Xinhua-PRNewswire-FirstCall/ -- China Automotive Systems, Inc. (Nasdaq: CAAS - News), a leading power steering components and systems supplier in China, today announced it has entered into its first aftermarket supply contract in the United States with R&B, a major aftermarket supplier.
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With this agreement and the first shipment of power steering products, China Automotive Systems has officially entered the U.S. auto parts aftermarket. R&B conducted a strict selection process in China before entering into the agreement with China Automotive Systems. Since May 2006, both companies' engineering teams collaborated closely on the design and development of two power steering models. One model is intended as a replacement power steering product for the Volvo S40 automobile. Other terms of the contract were not disclosed.
Mr. Qizhou Wu, Chief Executive Officer of China Automotive Systems, stated, "This is an important step for China Automotive Systems. As a provider of a key safety-related component, we are very proud that we have passed the strict testing and all evaluation processes by a major U.S. aftermarket supplier. We are confident that our products quality, reliability and favorable cost advantages will continue to attract more customers in North America."
About CAAS
Based in Hubei Province, People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through seven Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers 4 separate series of power steering and 307 models of power steering with an annual production capacity of 1.1 million sets, steering columns, steering oil pumps and steering hoses. Its customer base is comprised of leading Chinese auto manufacturers such as China FAW Group, Corp., Donfeng Auto Group Co., Ltd., Brilliance China Automotive Holdings Ltd., Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd., etc. For more information, please visit: http://www.caasauto.com .
About R&B
Since 1918, R&B is a leading supplier of "Hard-to-Find" automotive replacement parts, automotive hardware, brake products, and household hardware to the automotive aftermarket and general merchandise markets. R&B's automotive parts and hardware are marketed under more than thirty proprietary brand names, through its Motormite®, Dorman®, Allparts, Scan-Tech®, and Pik-A-Nut® businesses. R&B's international distribution channels include traditional wholesalers, retailers, special markets such as parts manufacturers, specialty rebuilders, and general merchandisers. As a solutions driven supplier to all market segments, R&B distinguishes itself with results- oriented customer focus, new product development, and innovative merchandising. For more information, please log on http://www.dormanproducts.com .
CAAS looks really good. I like the fundamentals and the news released a few days ago about expanding into the U.S. ;D