China Automotive Systems up on upbeat Q1 results

China Automotive Systems

23/05/2022 17:47

** Chinese auto parts maker China Automotive Systems Inc's
U.S.-listed shares  CAAS.O  up 1.9% at $2.95
    ** Co reports Q1 net sales of $136.4 mln, up 4.7% from
$130.3 mln a year earlier
    ** Posts a net loss of 6 cents per share, narrower than loss
of 10 cents per share a year earlier
    ** Expects 2022 revenue to be between $490 mln and $510 mln,
down from previous forecast $510 mln
    ** Attributes lower revenue forecast on "economic impact of
COVID-19 and foreign exchange volatility"
    ** Stock rose ~10% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))