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

-A leading power steering system supplier in China.

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

-The Company has business relationships with more than sixty vehicle manufacturers, and its major customers include BYD Auto Co., Ltd., Zhejiang Geely Automobile Co., Ltd., and Chery Automobile Co., Ltd., three of the largest privately owned car manufacturers in China, Chongqing Changan Automobile Co., Ltd., and the largest state-owned car manufacturers in China, SAIC Motor Co., Ltd., the FAW Group and others. As for customers outside China, the Company has been supplying power steering gear to Stellantis N.V. since 2009 and Ford Motor Company since 2016.

-The Company’s major competitors, including Shanghai ZF, Nexteer and FAW FKS, “FKS,” are component suppliers to specific automobile manufacturers. Shanghai ZF is the joint venture of SAIC and ZF Germany, which is an exclusive supplier to SAIC-Volkswagen and SAIC-GM. FKS is a joint venture between FAW and Japan’s Koyo Company (JTEKT) and its main customer is FAW-Volkswagen Company.

Shareholders

-Listed on NASDAQ

(As of Dec. 31, 2023)

Major shareholders	Investment ratio
Hanlin CHEN (Chairman of the Board of Directors)	59.13%
Qizhou WU	4.39%
Others	36.48%
Total	100%

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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

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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.