Key insights
- China Automotive Systems reported record third-quarter electric power steering unit sales, up 40.1% year-over-year, and announced a $5 million share repurchase program. The company's subsidiaries also showed significant sales growth. These positive results and capital return initiative suggest a favorable outlook for the company.
WUHAN, China - China Automotive Systems, Inc. (NASDAQ:CAAS) reported record electric power steering unit sales for the third quarter and nine-month period of 2026, according to a press release statement issued today.
The company sold 567,314 EPS units in the third quarter, representing a 40.1% increase compared with the third quarter of 2025. For the first nine months of 2026, EPS sales reached 1,461,381 units, up 32.7% year-over-year.
The company’s Henglong KYB subsidiary sold 466,899 EPS units in the third quarter, up 33.1% from the prior year period, and 1,257,686 units in the first nine months, an increase of 21.3%. The Wuhu subsidiary recorded sales of 101,040 units in the third quarter, up 138.6%, and 223,440 units for the nine-month period, up 82.7%.
The unit sales figures are preliminary and unaudited. The company noted that subsidiary figures are stated before elimination of inter-subsidiary sales.
Separately, the company announced its board of directors approved a share repurchase program authorizing the purchase of up to $5 million of outstanding common shares. Repurchases may occur over the next 12 months in open market transactions at prices not exceeding $5.50 per share through November 10, 2027.
China Automotive Systems supplies power steering components and systems to the Chinese automotive industry through sixteen Sino-foreign joint ventures and wholly-owned subsidiaries. The company’s customers include China FAW Group, Dongfeng Auto Group, BYD Auto, Beiqi Foton Motor, Chery Automobile, Stellantis N.V., and Ford Motor Company.
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