China Automotive Systems

Net Sales up 39% YoY, Operating income grew 95% YoY, Net income increased 68% YoY

WUHAN, Hubei, China, Nov. 9 /Xinhua- PRNewswire- FirstCall/ -- China Automotive Systems, Inc. (NASDAQ:CAAS) , a leading power steering components and systems supplier in China, today announced 2007 third quarter financial results.

Third Quarter 2007 Highlights:

-- Total net sales for the period increased to US$31.2 million, reflecting 39% year-over-year growth;
-- Net sales from steering components for passenger vehicles increased to US$20.2 million, reflecting 49% year-over-year growth;
-- Net sales from steering components for commercial vehicles increased to US$8.11 million, reflecting a 26% increase year-over-year;