CRITICAL May 1st Warning

Jason Bodner is going public today with an urgent new warning. He believes the most popular investment of 2024 is set to pop... And it could all start just days from now. This has NOTHING to do with A.I. stocks... It has NOTHING to do with crypto currency... And it has NOTHING to do with high-flying tech stocks. Instead, this corner of the market you likely have cash parked in has swelled to nearly $6 trillion.

The No. 1 Crypto for 2024

China Automotive Shares Spike As Q2 Earnings Exceed Expectations

Shivani Kumaresan
August 12, 2022
  • China Automotive Systems Inc (NASDAQ:CAAS) reported second-quarter FY22 sales growth of 5.5% year-on-year to $127.16 million, beating the consensus of $104.39 million.
  • The gross profit margin expanded by 480 basis points Y/Y to 17.9%, and the gross profit increased 43.7% to $22.7 million.
  • The operating margin was 5.7%, and operating income for the quarter was $7.2 million versus $0.1 million last year.
  • The company held $143.8 million in cash and equivalents as of June 30, 2022. Cash provided by operating activities for six months totaled $14.5 million.
  • The company reported EPS of $0.31, beating the consensus of $(0.05).
  • Outlook: China Automotive sees FY22 sales of $500 million versus the consensus of $492.83 million.
  • Price Action: CAAS shares are trading higher by 6.21% at $3.18 in premarket on the last check Friday.

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