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 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	97.16	101.52	73.18	161.30	80.92
Other Revenue, Total	-	-	-	-	-
Total Revenue	97.16	101.52	73.18	161.30	80.92
Cost of Revenue, Total	77.80	84.28	60.68	130.29	65.54
Gross Profit	19.36	17.24	12.50	31.01	15.38
Selling/General/Admin. Expenses, Total	7.29	6.79	4.92	10.78	5.56
Research & Development	3.40	4.83	2.82	7.24	3.59
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-0.67	-1.80	-0.70	-1.92	-0.11
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	87.82	94.10	67.72	146.39	74.58
Operating Income	9.35	7.42	5.46	14.91	6.34
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	0.07	-0.33	0.22	0.01	0.07
Income Before Tax	9.21	7.24	5.26	14.55	1.64
Income After Tax	7.47	6.52	4.37	11.77	0.17
Minority Interest	-1.59	-8.02	-1.00	-2.28	-1.05
Equity In Affiliates	0.06	0.03	0.03	0.11	0.08
Net Income Before Extra. Items	5.94	-1.47	3.40	9.60	-0.80
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	5.94	-1.47	3.40	12.25	-0.77
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	5.94	-1.48	3.40	8.68	-0.80
Income Available to Common Incl. Extra Items	5.94	-1.48	3.40	11.33	-0.77
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	28.05	28.07	28.26	28.26	28.26
Diluted EPS Excluding Extraordinary Items	0.21	-0.05	0.12	0.31	-0.03
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	0.19	-0.11	0.10	0.25	-0.03

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	336.00	329.85	345.93	255.60
Other Revenue, Total	-	-	-	-
Total Revenue	336.00	329.85	345.93	255.60
Cost of Revenue, Total	275.25	266.48	265.62	193.85
Gross Profit	60.75	63.37	80.30	61.74
Selling/General/Admin. Expenses, Total	22.49	24.74	18.33	23.09
Research & Development	14.89	8.99	7.99	2.56
Depreciation/Amortization	-	-	0.69	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-4.43	-1.47	-1.13	-0.84
Other Operating Expenses, Total	-	-	0.37	-
Total Operating Expense	308.21	298.75	291.88	218.67
Operating Income	27.80	31.10	54.05	36.93
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	0.03	-0.01	0.47	-0.10
Income Before Tax	27.05	49.84	71.42	-13.93
Income After Tax	22.66	45.70	62.93	-18.65
Minority Interest	-4.74	-7.11	-11.18	-7.79
Equity In Affiliates	0.17	0.16	-0.01	0.00
Net Income Before Extra. Items	18.09	38.75	51.74	-26.44
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	20.74	40.79	51.74	-26.44
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	17.16	34.23	44.74	-26.44
Income Available to Common Incl. Extra Items	19.81	36.27	44.74	-26.44
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-10.13	0.00
Diluted Weighted Average Shares	28.22	31.51	31.57	26.99
Diluted EPS Excluding Extraordinary Items	0.61	1.09	1.10	-0.98
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	0.48	1.04	1.07	-1.00

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	90.35	87.65	72.49	77.69	79.85
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	90.35	87.65	72.49	77.69	79.85
Accounts Receivable - Trade, Net	245.61	223.59	110.60	124.17	128.61
Receivables - Other	-	-	-	-	-
Total Receivables, Net	245.61	223.59	210.33	208.69	211.04
Total Inventory	45.27	43.54	48.03	46.89	58.29
Prepaid Expenses	5.45	3.91	2.04	1.40	1.95
Other Current Assets, Total	29.83	30.87	28.24	24.54	25.29
Total Current Assets	416.51	389.56	361.14	359.21	376.42
Property/Plant/Equipment, Total - Gross	-	-	155.92	145.79	156.87
Accumulated Depreciation, Total	-	-	-70.42	-68.46	-74.27
Goodwill, Net	-	-	-	-	-
Intangibles, Net	0.69	0.68	0.71	0.71	0.79
Long Term Investments	-	-	3.60	3.58	3.57
Other Long Term Assets, Total	11.75	11.94	10.37	13.67	10.56
Total Assets	512.53	485.82	465.18	457.72	476.87
Accounts Payable	183.94	170.90	97.00	101.99	117.08
Accrued Expenses	33.87	32.79	15.73	14.48	24.17
Notes Payable/Short Term Debt	46.93	40.28	101.27	97.29	67.48
Current Port. of LT Debt/Capital Leases	-	-	-	-	23.57
Other Current liabilities, Total	7.25	6.84	23.27	21.55	26.80
Total Current Liabilities	272.00	250.82	237.27	235.30	259.11
Long Term Debt	0.00	2.61	3.18	1.61	1.62
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	0.00	2.61	3.18	1.61	1.62
Total Debt	46.93	42.89	104.46	98.90	92.67
Deferred Income Tax	-	-	-	-	-
Minority Interest	40.53	38.85	36.89	35.98	43.33
Other Liabilities, Total	-	0.00	0.00	0.00	0.00
Total Liabilities	312.53	292.27	277.34	272.90	304.06
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	0.00	0.00	0.00	0.00	0.00
Additional Paid-In Capital	39.37	39.37	39.37	39.30	39.30
Retained Earnings (Accumulated Deficit)	135.22	129.28	124.20	120.79	107.77
Treasury Stock - Common	-1.00	-1.00	-	-	-
Other Equity, Total	26.41	25.90	24.27	24.73	25.75
Total Equity	200.00	193.55	187.84	184.82	172.82
Total Liabilities & Shareholders' Equity	512.53	485.82	465.18	457.72	476.87
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	28.04	28.04	28.26	28.26	28.26

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	87.65	72.96	49.42	43.48
Short Term Investments	-	-	-	-
Cash and Short Term Investments	87.65	72.96	49.42	43.48
Accounts Receivable - Trade, Net	223.59	212.46	119.45	98.80
Receivables - Other	-	-	-	-
Total Receivables, Net	223.59	212.46	195.86	154.86
Total Inventory	43.54	51.61	36.87	27.42
Prepaid Expenses	3.91	2.85	4.23	2.41
Other Current Assets, Total	30.87	25.51	24.50	16.61
Total Current Assets	389.56	365.38	310.88	244.78
Property/Plant/Equipment, Total - Gross	-	-	132.32	105.71
Accumulated Depreciation, Total	-	-	-56.94	-47.18
Goodwill, Net	-	-	-	-
Intangibles, Net	0.68	0.84	0.66	0.56
Long Term Investments	-	-	3.16	0.08
Other Long Term Assets, Total	11.94	11.54	12.65	9.37
Total Assets	485.82	466.45	405.53	314.38
Accounts Payable	170.90	171.51	95.73	69.45
Accrued Expenses	32.79	31.86	26.03	27.90
Notes Payable/Short Term Debt	40.28	10.32	84.86	88.61
Current Port. of LT Debt/Capital Leases	-	-	30.00	30.00
Other Current liabilities, Total	6.84	3.87	20.07	16.33
Total Current Liabilities	250.82	217.56	256.68	232.30
Long Term Debt	2.61	24.55	0.60	0.23
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	2.61	24.55	0.60	0.23
Total Debt	42.89	34.87	115.46	118.84
Deferred Income Tax	-	-	-	-
Minority Interest	38.85	43.03	35.97	27.14
Other Liabilities, Total	0.00	8.18	0.00	-
Total Liabilities	292.27	293.32	293.25	259.67
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.00	0.00	0.00	0.00
Additional Paid-In Capital	39.37	39.30	28.57	27.52
Retained Earnings (Accumulated Deficit)	129.28	108.54	67.75	16.01
Treasury Stock - Common	-1.00	0.00	-	-
Other Equity, Total	25.90	25.29	15.96	11.19
Total Equity	193.55	173.13	112.27	54.72
Total Liabilities & Shareholders' Equity	485.82	466.45	405.53	314.38
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	28.04	28.26	27.18	27.05

In Millions of USD (except for per share items)	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	25.49	18.94	14.54	0.28
Depreciation/Depletion	13.91	10.67	7.31	3.51
Amortization	-	-	-	-
Deferred Taxes	-1.56	-1.27	-0.48	0.12
Non-Cash Items	-2.66	-3.23	-3.89	3.97
Changes in Working Capital	-18.97	-13.74	-10.60	0.64
Cash from Operating Activities	16.21	11.37	6.88	8.52
Capital Expenditures	-19.08	-17.04	-8.88	-2.00
Other Investing Cash Flow Items, Total	12.79	2.58	-0.74	-0.50
Cash from Investing Activities	-6.29	-14.46	-9.63	-2.50
Financing Cash Flow Items	-3.02	-2.62	-2.62	-0.80
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-1.00	-23.57	-	-
Issuance (Retirement) of Debt, Net	8.65	29.30	10.39	1.59
Cash from Financing Activities	4.63	3.11	7.77	0.79
Foreign Exchange Effects	0.14	-0.49	-0.29	0.07
Net Change in Cash	14.69	-0.47	4.73	6.89
Cash Interest Paid, Supplemental	-	10.44	9.58	-
Cash Taxes Paid, Supplemental	-	3.81	3.67	-

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	25.49	47.90	62.92	-18.65
Depreciation/Depletion	13.91	13.50	9.50	8.68
Amortization	-	-	-	-
Deferred Taxes	-1.56	-0.92	0.62	-1.68
Non-Cash Items	-2.66	-22.69	-21.50	49.11
Changes in Working Capital	-18.97	-3.73	-12.98	-2.51
Cash from Operating Activities	16.21	34.06	38.55	34.96
Capital Expenditures	-19.08	-15.18	-28.19	-17.82
Other Investing Cash Flow Items, Total	12.79	1.14	-4.41	0.49
Cash from Investing Activities	-6.29	-14.04	-32.60	-17.34
Financing Cash Flow Items	-3.02	-2.85	-3.27	-4.51
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-1.00	0.52	0.45	0.42
Issuance (Retirement) of Debt, Net	8.65	3.21	1.42	-7.20
Cash from Financing Activities	4.63	0.87	-1.39	-11.29
Foreign Exchange Effects	0.14	2.64	1.38	0.04
Net Change in Cash	14.69	23.54	5.94	6.37
Cash Interest Paid, Supplemental	-	-	2,044.71	1,475.31
Cash Taxes Paid, Supplemental	-	-	6,685.44	4,048.12