China Automotive Systems, Inc.

Company Profile

■URL

http://www.caasauto.com

■Address

Henglong Building, D8 Optics Valley Software Park No.1 Guanshan Avenue, East Lake Hi-tech Zone Wuhan City, Hubei, 430073, China

Business Overview

-The Company is a leading supplier of automotive power steering systems and components in China.

-The Company manufactures various types of steering system components for passenger cars and commercial vehicles, including rack and pinion power steering, integral power steering, electric and manual steering, steering columns, steering pumps and steering hoses.

-The company has 16 joint ventures and wholly-owned subsidiaries. Customers include FAW Group, Dongfeng Motor Group, Great Wall Motor, BYD, Geely, Beiqi Foton, Chery, Ford, GM, VW, and Stellantis.

-The Company is developing markets in in North America, South America, and Europe.

Major competitors in the field of steering systems

Competitors Major customers
Bosch HUAYU Steering Systems Co., Ltd.
Formerly: Shanghai ZF Steering Systems Co., Ltd.
VWGM, Geely
FAW Koyo Steering Systems Co., Ltd. FAW-VW
JTEKT Steering Systems (Xiamen) Co., Ltd. Geely
Nexteer Automotive Group Limited Ford, GM, VW, Stellantis
Zhejiang Shibao Co., Ltd. VWFord, FAWBYDDongfeng MotorBeiqi FotonGeelyChery

Shareholders

-Listed on NASDAQ (As of Dec. 31, 2021)
Major shareholders Investment ratio
Hanlin CHEN, Liping XIE, and Wiselink Holding Limited 57.85%
Qizhou WU 4.30%
Others 37.85%
Total 100%

Products

Power steering systems and component parts

  • Rack and pinion power steering systems
  • Recirculating ball power steering systems
  • Electric power steering systems
  • Manual steering systems
  • Steering columns
  • Steering pumps
  • Steering hoses
  • Tension rods

Sensors

  • Vacuum pressure sensors
  • Low pressure sensors
  • Medium pressure sensors
  • Automotive temperature sensors

Automobile wire harnesses

History

1993 The Company's subsidiary, Shashi Jiulong Power Steering Gears Co., Ltd. was established.
1994 Shashi Jiulong supplied recirculating ball power steering systems for the FAW Group.
1997 The Company's subsidiary, Jingzhou Henglong Automotive Parts Co., Ltd. was established.
Jun. 1999 The Company was incorporated in the State of Delaware under the name Visions-In-Glass, Inc.
2002 The Company's subsidiary, Shenyang Jinbei Henglong Automotive Steering System Co., Ltd. was established.
2002 The Company's subsidiary, Zhejiang Henglong & Vie Pump-Manu Co., Ltd. was established.
Mar. 2003 The Company acquired all of the issued and outstanding equity interests of Great Genesis Holdings Limited.
May 2003 The Company changed its name from Visions-In-Glass, Inc. to China Automotive Systems, Inc.
2003 Tsinghua University (Automotive Engineering Department) Henglong Automotive Steering Systems Research Institute was established.
Aug. 2004 The Company successfully listed on NASDAQ in the United States.
2005 The Company's subsidiary, Universal Sensor Application, Inc. was established.
2006 The Company's subsidiary, Wuhan Jielong Electric Power Steering Co., Ltd. was established.
2006 The Company's subsidiary, Wuhu Henglong Automotive Steering Systems Co., Ltd. was established.
2007 The Company's subsidiary, Jingzhou Hengsheng Automotive Systems Co., Ltd. was established. Supply to FAW-VW began.
2009 The Company's subsidiary, Jingzhou Hengsheng became a supplier for Chrysler in the USA.
2010 The Company established Beijing Hainachuan Henglong Automotive Steering Sytem Co., Ltd. with Beijing Automotive Group.
Jan. 2012 The Company formed Chongqing Henglong Hongyan Power Steering Systems Co. Ltd. with SAIC-IVECO Hongyan Company.
Mar. 2012 The Company's integrated business in China, the holding subsidiary, Hong Kong Great Genesis Holding Ltd., increased Jingzhou Hengsheng's registered capital by adding the subsdiaries' equity to Hengsheng. Meanwhile, Jingzhou Hengsheng Automotive Systems Co., Ltd. changed its name into Hube Henglong Automotive System Group Co., Ltd.
May 2012 The Company sold all its equity interest in Zhejiang Henglong & Vie Pump-Manu Co., Ltd. to the Zhejiang Vie Group.
May 2014 Wuhan Jielong Electric Power Steering Co., Ltd., the Company's subsidiary, established Wuhan Chuguanjie Automotive Science & Technology Ltd.
Aug. 2014 The Company announced that the company and Jingzhou Jiulong Machinery and Electronic Manufacturing Co., Ltd. signed an agreement that China Automotive Systems will acquire the following shares from Jingzhou Jiulong Machinery and Electronic Manufacturing: a 20 percent share in Jingzhou Henglong Automotive Parts Co., Ltd.; and a 19 percent share in Shashi Jiulong Power Steering Gears Co., Ltd.
Apr. 2016 The Company announced its main subsidiary, Hubei Henglong Automotive System Group Co., Ltd., has sold its 51% equity control position in Fujian Qiaolong Special Purpose Vehicle Co., Ltd. to Longyan Huanyu Emergency Equipment Technology Co., Ltd.
Dec. 2018 The Company and South Korean Hyoseong Electric Co., Ltd. agree to establish a joint venture named Hyoseong (Wuhan) Power Mechatronics System Co., Ltd., for the designing, manufacturing, and sales of automotive electric power steering (EPS) motors.
Apr. 2020

Acquired 100.0% of the shares in Changchun Hualong Automotive Technology Development Co.

Jun. 2021

The subsidiary, Hubei Henglong Automotive Systems Group Co. Ltd. purchased a 40% interest in the issued share capital of Sentient AB.

Supplemental Information 1