China Automotive Systems, Inc. (CAAS) 2007年年度报告「NASDAQ」.pdf

1、 CHINA AUTOMOTIVE SYSTEMS,INC.2007 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,operating through Eight Sino-foreign joint ventures?Jingzhou Henglong Auto

2、motive Parts Co.?Shashi Jiulong Power Steering Co.?Shenyang Jinbei Henglong Automotive Steering System Co.,Ltd.?Zhejiang Henglong&Vie Pump-Manu Co.,Ltd.?Universal Sensor Application,Inc.?Wuhu Henglong Automotive Steering Systems Co.,Ltd.?Wuhan Jielong Steering System Co.,Ltd.?Jingzhou Hengsheng Auto

3、motive System Co.,Ltd.Dear Shareholders,We are excited to report a strong year in sales and earnings for the 2007 year as we progress to become Chinas leading company in the automotive power steering market and cherish to build a global steering powerhouse for our shareholders.Chinese GPD grew a rob

4、ust 10.5%in 2007,as the China Association of Automobile Manufacturers stated that production and sales volume of passenger vehicles reached approximately 6.3 million units in 2007.Commercial vehicles volumes expanded to approximately 2.5 million units.The year-over-year increase for these products w

5、as approximately 22%in each sector,and was twice the growth rate of the overall economy in China as a whole.We again demonstrated in 2007 that we can profitably grow revenues and expand our market share.Our net product sales were up 39.5%to$133.6 million versus$95.8 million a year ago.Sales of comme

6、rcial vehicle steering gears and accessories rose 42.3%compared with last year.Passenger steering gears sales were up 39.3%and steering pumps were 35.3%higher in 2007.Obviously,we are increasing our market share in the power steering segment of the Chinese auto parts business.Sales increases in 2007