China Automotive Systems Boosts FY21 Revenue Guidance - Quick Facts

While reporting financial results for the first quarter on Wednesday, vehicle parts supplier China Automotive Systems, Inc. (CAAS) raised its revenue guidance for the full-year 2021 to $485 million from the prior guidance of $470 million, based on the company's current views on operating and market conditions, which are subject to change.

For the first quarter, the company reported net income attributable to parent company's common shareholders of $3.21 million or $0.10 per share, compared to a net loss of $28,000 or flat per share in the prior-year quarter. Net sales surged 77.0 percent to $130.34 million from $73.56 million in the same quarter last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The 737 MAX 10, Boeing Co.'s largest 737 Max model, is taking its maiden flight today, reports said citing people familiar with the matter. The flight after months of testing and certification will be around 10 a.m. local time from the Seattle area. The schedule could change depending on weather or other factors. Meanwhile, the jetliner is expected to enter commercial service in 2023. Medical devices supplier Smiths Medical, affiliated to Smiths Group plc, is recalling certain Jelco Hypodermic Needle-Pro Fixed Needle insulin syringes with skewed graduation markings, the U.S. Food and Drug Administration said. The recall was initiated after the company became aware of specific models and lots of Jelco insulin syringes that may exhibit skewed odd number line graduation markings. Saliva-based COVID-19 testing is rolled out as a pilot for public schools in New York City. The new two-month pilot program is being implemented in about 50 New York City public schools and utilizes Fluidigm Technology to offer RT-PCR COVID-19 testing. New York City public schools have instituted mandatory random weekly testing in all reopened school buildings to ensure safer in-person learning.
Follow RTT