Financial Statements for China Automotive Systems, Inc.

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China Automotive Systems, Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2012-03-31	3 months ending 2011-12-31	3 months ending 2011-09-30	3 months ending 2011-06-30	3 months ending 2011-03-31
Revenue	84.49	99.45	75.00	82.51	91.01
Other Revenue, Total	-	-	-	-	-
Total Revenue	84.49	99.45	75.00	82.51	91.01
Cost of Revenue, Total	68.45	79.93	61.22	67.71	71.03
Gross Profit	16.05	19.53	13.79	14.80	19.98
Selling/General/Admin. Expenses, Total	6.02	8.20	5.58	6.05	6.36
Research & Development	3.73	3.40	2.71	1.59	2.31
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-0.12	-0.12	-0.47	-0.48	-1.98
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	78.07	91.40	69.04	74.87	77.72
Operating Income	6.43	8.05	5.96	7.64	13.30
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	0.06	0.04	-0.02	0.00	-0.04
Income Before Tax	1.73	8.58	12.52	7.01	24.00
Income After Tax	0.21	8.54	11.45	5.72	22.04
Minority Interest	-1.05	-1.87	-1.38	-1.42	-2.44
Equity In Affiliates	0.08	0.03	0.04	0.05	0.04
Net Income Before Extra. Items	-0.77	6.70	10.11	4.34	19.64
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	-0.77	6.70	10.11	4.34	19.64
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	-0.77	6.01	9.04	4.04	17.18
Income Available to Common Incl. Extra Items	-0.77	6.01	9.04	4.04	17.18
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.00	0.01	-5.81	-	-9.94
Diluted Weighted Average Shares	28.26	31.47	31.50	27.88	31.56
Diluted EPS Excluding Extraordinary Items	-0.03	0.19	0.10	0.15	0.23
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	-0.03	0.19	0.09	0.13	0.17

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Revenue	347.97	345.93	255.60	163.18
Other Revenue, Total	-	-	-	-
Total Revenue	347.97	345.93	255.60	163.18
Cost of Revenue, Total	279.88	265.62	193.85	121.71
Gross Profit	68.10	80.30	61.74	41.47
Selling/General/Admin. Expenses, Total	24.89	18.33	23.09	22.95
Research & Development	10.01	7.99	2.56	2.26
Depreciation/Amortization	0.92	0.69	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-3.05	-1.13	-0.84	-0.73
Other Operating Expenses, Total	0.39	0.37	-	-
Total Operating Expense	313.03	291.88	218.67	146.18
Operating Income	34.94	54.05	36.93	17.00
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-0.02	0.47	-0.10	1.13
Income Before Tax	52.10	71.42	-13.93	15.81
Income After Tax	47.75	62.93	-18.65	15.36
Minority Interest	-7.11	-11.18	-7.79	-5.11
Equity In Affiliates	0.16	-0.01	0.00	-
Net Income Before Extra. Items	40.79	51.74	-26.44	10.24
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	40.79	51.74	-26.44	10.24
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	36.27	44.74	-26.44	8.92
Income Available to Common Incl. Extra Items	36.27	44.74	-26.44	8.92
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-14.41	-10.13	0.00	0.00
Diluted Weighted Average Shares	31.51	31.57	26.99	25.71
Diluted EPS Excluding Extraordinary Items	0.69	1.10	-0.98	0.35
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.61	1.07	-1.00	0.32

In Millions of USD (except for per share items)	As of 2012-03-31	As of 2011-12-31	As of 2011-09-30	As of 2011-06-30	As of 2011-03-31
Cash & Equivalents	79.85	72.96	76.07	55.43	40.64
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	79.85	72.96	76.07	55.43	40.64
Accounts Receivable - Trade, Net	128.61	119.65	109.86	120.06	130.90
Receivables - Other	-	-	-	-	-
Total Receivables, Net	211.04	212.46	197.86	206.91	216.59
Total Inventory	58.29	51.61	51.30	45.68	47.49
Prepaid Expenses	1.95	2.84	3.92	4.96	4.75
Other Current Assets, Total	25.29	25.51	23.89	23.55	22.92
Total Current Assets	376.42	365.38	353.04	336.52	332.38
Property/Plant/Equipment, Total - Gross	156.87	155.71	149.41	144.17	138.49
Accumulated Depreciation, Total	-74.27	-70.87	-67.77	-64.29	-60.68
Goodwill, Net	-	-	-	-	-
Intangibles, Net	0.79	0.84	0.68	0.61	0.62
Long Term Investments	3.57	3.49	3.43	3.32	3.23
Other Long Term Assets, Total	10.56	9.53	11.22	13.04	14.19
Total Assets	476.87	466.45	452.26	434.85	430.71
Accounts Payable	117.08	114.20	106.16	106.62	110.38
Accrued Expenses	24.17	14.28	15.93	14.44	17.40
Notes Payable/Short Term Debt	67.48	67.62	69.24	57.80	57.88
Current Port. of LT Debt/Capital Leases	23.57	0.00	0.00	0.00	0.00
Other Current liabilities, Total	26.80	21.46	22.34	25.25	22.81
Total Current Liabilities	259.11	217.56	213.68	204.10	208.47
Long Term Debt	1.62	24.56	24.55	24.22	24.18
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	1.62	24.56	24.55	24.22	24.18
Total Debt	92.67	92.18	93.79	82.02	82.06
Deferred Income Tax	-	-	-	-	-
Minority Interest	43.33	43.03	40.80	39.74	38.77
Other Liabilities, Total	0.00	8.17	9.12	16.28	15.51
Total Liabilities	304.06	293.32	288.15	284.34	286.94
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	0.00	0.00	0.00
Common Stock, Total	0.00	0.00	0.00	0.00	0.00
Additional Paid-In Capital	39.30	39.30	38.68	38.68	38.68
Retained Earnings (Accumulated Deficit)	107.77	108.54	101.84	91.73	87.39
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	25.75	25.29	23.58	20.10	17.71
Total Equity	172.82	173.13	164.11	150.52	143.78
Total Liabilities & Shareholders' Equity	476.87	466.45	452.26	434.85	430.71
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	28.26	28.26	28.08	28.08	28.08

In Millions of USD (except for per share items)	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31	As of 2008-12-31
Cash & Equivalents	72.96	49.42	43.48	37.11
Short Term Investments	-	-	-	-
Cash and Short Term Investments	72.96	49.42	43.48	37.11
Accounts Receivable - Trade, Net	119.65	119.45	98.80	55.44
Receivables - Other	-	-	-	-
Total Receivables, Net	212.46	195.86	154.86	96.42
Total Inventory	51.61	36.87	27.42	26.57
Prepaid Expenses	2.84	4.23	2.41	1.44
Other Current Assets, Total	25.51	24.50	16.61	6.74
Total Current Assets	365.38	310.88	244.78	168.29
Property/Plant/Equipment, Total - Gross	155.71	132.32	105.71	89.65
Accumulated Depreciation, Total	-70.87	-56.94	-47.18	-37.67
Goodwill, Net	-	-	-	-
Intangibles, Net	0.84	0.66	0.56	0.50
Long Term Investments	3.49	3.16	0.08	0.08
Other Long Term Assets, Total	9.53	12.65	9.37	8.84
Total Assets	466.45	405.53	314.38	231.05
Accounts Payable	114.20	95.73	69.45	38.60
Accrued Expenses	14.61	26.03	27.90	8.96
Notes Payable/Short Term Debt	67.62	84.86	88.61	29.47
Current Port. of LT Debt/Capital Leases	0.00	30.00	30.00	32.92
Other Current liabilities, Total	21.12	20.07	16.33	16.31
Total Current Liabilities	217.56	256.68	232.30	126.26
Long Term Debt	24.56	0.60	0.23	0.23
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	24.56	0.60	0.23	0.23
Total Debt	92.18	115.46	118.84	62.63
Deferred Income Tax	-	-	-	-
Minority Interest	43.03	35.97	27.14	23.22
Other Liabilities, Total	8.17	0.00	-	-
Total Liabilities	293.32	293.25	259.67	149.72
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.00	0.00	0.00	0.00
Additional Paid-In Capital	39.30	28.57	27.52	26.65
Retained Earnings (Accumulated Deficit)	108.54	67.75	16.01	43.55
Treasury Stock - Common	-	-	-	-
Other Equity, Total	25.29	15.96	11.19	11.13
Total Equity	173.13	112.27	54.72	81.33
Total Liabilities & Shareholders' Equity	466.45	405.53	314.38	231.05
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	28.26	27.18	27.05	26.98

In Millions of USD (except for per share items)	3 months ending 2012-03-31	12 months ending 2011-12-31	9 months ending 2011-09-30	6 months ending 2011-06-30	3 months ending 2011-03-31
Net Income/Starting Line	0.29	47.90	39.34	27.84	22.08
Depreciation/Depletion	3.51	13.50	10.14	6.57	3.28
Amortization	-	-	-	-	-
Deferred Taxes	0.12	-0.91	-0.25	-0.27	0.38
Non-Cash Items	3.97	-22.59	-21.03	-13.29	-13.43
Changes in Working Capital	0.64	-3.84	3.53	-4.37	-15.76
Cash from Operating Activities	8.52	34.06	31.73	16.49	-3.46
Capital Expenditures	-2.00	-15.18	-10.93	-9.10	-6.14
Other Investing Cash Flow Items, Total	-0.50	1.14	0.76	1.48	0.37
Cash from Investing Activities	-2.50	-14.04	-10.17	-7.62	-5.77
Financing Cash Flow Items	-0.80	-2.85	-1.71	-0.01	-0.04
Total Cash Dividends Paid	-	-	-	-	-
Issuance (Retirement) of Stock, Net	-	0.52	0.00	0.00	-
Issuance (Retirement) of Debt, Net	1.59	3.20	4.79	-3.86	0.00
Cash from Financing Activities	0.79	0.87	3.08	-3.88	-0.04
Foreign Exchange Effects	0.08	2.64	2.00	1.01	0.48
Net Change in Cash	6.89	23.54	26.64	6.00	-8.79
Cash Interest Paid, Supplemental	0.79	1.97	1.69	0.90	0.66
Cash Taxes Paid, Supplemental	0.55	8.27	7.19	5.08	2.86

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Net Income/Starting Line	47.90	62.92	-18.65	15.36
Depreciation/Depletion	13.50	9.50	8.68	9.92
Amortization	-	-	-	-
Deferred Taxes	-0.91	0.62	-1.68	-0.70
Non-Cash Items	-22.59	-20.81	49.13	0.74
Changes in Working Capital	-3.84	-13.67	-2.53	-8.94
Cash from Operating Activities	34.06	38.55	34.96	16.37
Capital Expenditures	-15.18	-28.19	-17.82	-12.37
Other Investing Cash Flow Items, Total	1.14	-4.41	0.49	-9.99
Cash from Investing Activities	-14.04	-32.60	-17.34	-22.36
Financing Cash Flow Items	-2.85	-3.27	-4.51	-5.45
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	0.52	0.45	0.42	0.00
Issuance (Retirement) of Debt, Net	3.20	1.42	-7.20	27.43
Cash from Financing Activities	0.87	-1.39	-11.29	21.98
Foreign Exchange Effects	2.64	1.38	0.04	1.63
Net Change in Cash	23.54	5.94	6.37	17.63
Cash Interest Paid, Supplemental	1.97	2,044.71	1,475.31	1,266.20
Cash Taxes Paid, Supplemental	8.27	6,685.44	4,048.12	4,126.05