WUHAN,
China, March 22, 2023 /PRNewswire/ -- China
Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the
"Company"), a leading power steering components and systems
supplier in China, today announced
that it will issue unaudited financial results for the fourth ended
December 31, 2022, on Thursday,
March 30, 2023, before the market
opens. Management will conduct a conference call on
March 30th at 8:00 A.M. EDT/8:00
P.M. Beijing Time to discuss these results. A question
and answer session will follow management's presentation.
To participate, please call the following numbers 10 minutes
before the call start time and ask to be connected to the "China
Automotive Systems" conference call with pin 775394:
Phone Number: +1-888-506-0062 (North
America)
Phone Number: +1-973-528-0011 (International)
Mainland China Toll Free:
+86-400-120-3199
A replay of the call will be available on the Company's website
in the investor relations section.
About China Automotive Systems, Inc.
Based in Hubei Province,
the People's Republic of China,
China Automotive Systems, Inc. is a leading supplier of power
steering components and systems to the Chinese automotive industry,
operating through ten Sino-foreign joint ventures. The Company
offers a full range of steering system parts for passenger
automobiles and commercial vehicles. The Company currently offers
four separate series of power steering with an annual production
capacity of over 6 million sets of steering gears, columns and
steering hoses. Its customer base is comprised of leading auto
manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group
Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd.
and Chery Automobile Co., Ltd. in China, and Fiat Chrysler Automobiles (FCA) and
Ford Motor Company in North
America. For more information, please visit:
http://www.caasauto.com.
Forward-Looking Statements
This press release contains statements that are "forward-looking
statements" as defined under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements represent our
estimates and assumptions only as of the date of this press
release. These forward-looking statements include statements
regarding the qualitative and quantitative effects of the
accounting errors, the periods involved, the nature of the
Company's review and any anticipated conclusions of the Company or
its management and other statements that are not historical facts.
Our actual results may differ materially from the results described
in or anticipated by our forward-looking statements due to certain
risks and uncertainties. As a result, the Company's actual results
could differ materially from those contained in these
forward-looking statements due to a number of factors, including
those described under the heading "Risk Factors" in the Company's
Form 10-K annual report filed with the Securities and Exchange
Commission on March 30, 2022, and in
documents subsequently filed by the Company from time to time with
the Securities and Exchange Commission. If the outbreak of COVID-19
is not effectively and timely controlled, our business operations
and financial condition may be materially and adversely affected as
a result of the deteriorating market outlook for automobile sales,
a slowdown in regional, national and international economic growth,
weakened liquidity and financial condition of our customers or
other factors that we cannot foresee. Any of these factors and
other factors beyond our control, could have an adverse effect on
the overall business environment, cause uncertainties in the
regions where we conduct business, cause our business to suffer in
ways that we cannot predict and materially and adversely impact our
business, financial condition and results of operations. A
prolonged disruption or any further unforeseen delay in our
operations of the manufacturing, delivery and assembly process
within any of our production facilities could continue to result in
delays in the shipment of products to our customers, increased
costs and reduced revenue. We expressly disclaim any duty to
provide updates to any forward-looking statements made in this
press release, whether as a result of new information, future
events or otherwise.
For further information, please contact:
Jie Li
Chief Financial Officer
China Automotive Systems, Inc.
Email: jieli@chl.com.cn
Kevin Theiss
Investor Relations
Tel: +1-212-510-8922
Email: Kevin@awakenlab.com
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SOURCE China Automotive Systems, Inc.