China Automotive Systems Inc: Up on strong forecast for power steering products

China Automotive Systems

30/11/2020 13:02

** U.S.-listed shares of Chinese power-steering parts
supplier  CAAS.O  jump 20.1% to $4.60 premarket  
    ** CAAS expects to ship over 140,000 power steering units
this year for use in Chinese electric vehicles; co has shipped
about 120,000 units so far in 2020
    ** Co targets sales of over 200,000 steering units next year
 urn:newsml:reuters.com:*:nPn5MJYxHa
    ** Earlier this month, CAAS raised its FY20 revenue outlook
to $390 mln from $360 mln after reporting a 13.8% rise in Q3 net
sales  urn:newsml:reuters.com:*:nPn1g8K0Ha
    ** Up to Friday's close, stock had risen ~22% so far this
year

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))