JINGZHOU, China (AP) — JINGZHOU, China (AP) — China Automotive Systems Inc. (CAAS) on Friday reported first-quarter net income of $6.8 million, after reporting a loss in the same period a year earlier.
The Jingzhou, China-based company said it had net income of 23 cents per share.
The auto parts supplier posted revenue of $142.2 million in the period.
China Automotive Systems expects full-year revenue of $560 million.
The company’s shares closed at $4.70. A year ago, they were trading at $2.90.
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