as nasdaq caas industry automotive automotive parts headquarters hubei province people s republic of china area served china and north america key people hanlin chen chairman qizhou wu ceo subsidiaries henglong usa corporation website http www.caas usa.com china automotive systems inc. is one of the largest power steering components and systems supplier in china . it is also a holding company that through genesis manufactures power steering systems and other components for automobiles . founded in 1993 all operations are conducted through eight sino foreign joint ventures in china and a wholly owned subsidiary in the united states . the company has business relations with more than 60 vehicle manufacturers including faw group and dongfeng group ; shenyang brilliance jinbei light vehicle manufacturer in china ; chery automobile state owned car manufacturer in china and xi an byd automobile and zhejiang geely car manufacturers . 1 2 the company currently offers four separate series of power steering with an annual production capacity of over 3.5 million sets steering columns steering oil pumps and steering hoses . 3 in 2010 caas was selected among more than 700 contestants as one of only six suppliers honored with chery s 2010 annual best parts supplier . 4 china automotive systems is listed under the international directory of company histories volume 87 . 5 research edit china automotive has partnered with tsinghua university to establish a steering system research center called tsinghua henglong automobile steering research institute for the purpose of developing and testing electronic controlled power steering systems . 6 acquisitions & growth edit at the end of 2008 china automotive systems acquired an additional 36.5 % of henglong automotive parts company on top of the already owned 44.5 % . henglong is engaged in manufacturing power steering systems and components for china s rapidly growing passenger vehicle market . 7 caas now holds an 80 % equity interest in henglong . 8 following china s entry into wto its auto demand experienced phenomenal growth . for the year ended december 31 2010 net sales rose 35.3 % to 345.9 million from 255.6 million for 2009 . gross profit increased by 31.8 % to 80.3 million from 60.9 million in 2009 . 9 gross margin was 23 % in both 2010 and 2009 . income from operations grew 58.1 % to 54.0 million compared with 34.2 million in 2009 . the operating margin increased to 15.6 % in 2010 from 13.4 % in 2009 . 10 references edit china s vice premier dejiang zhang confident in china automotive systems future . new york times . china automotive systems inc. . new york times . china automotive systems reports preliminary unaudited selected financial results for the 2010 fourth quarter and year . new york times . china automotive systems receives 2010 annual best parts supplier award from chery auto . new york times . peterson jay p. 2007 . international directory of company histories . st. james press . china automotive systems inc. caas pdf . china automotive systems to acquire henglong automotive parts company stake . china automotive systems inc 10 k management s discussion and analysis of financial condition and results of operations . . china automotive systems inc 10 k management s discussion and analysis of financial condition and results of operations . . china automotive systems reports preliminary unaudited selected financial results for the 2010 fourth quarter and year . new york times . retrieved from https en.wikipedia.org w index.php title china automotive systems & oldid 647221376 categories companies listed on nasdaqautomotive companies of china navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 15 february 2015 at 09 06 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view