China Automotive Systems Reports Record Third Quarter 2026 EPS Sales; Board Approves $5 Million Share Repurchase Program

The repurchase authorization caps purchases at $5.50 per share, alongside record quarterly and nine-month electric power steering unit sales.

Rhea-AI Summary

China Automotive Systems (Nasdaq: CAAS) reported preliminary electric power steering unit sales that reached a quarterly record in the third quarter of 2026. Sales rose 40.1% year over year to 567,314 units; first-nine-month sales increased 32.7% to a record 1,461,381 units. The figures are preliminary and unaudited.

Henglong KYB sold 466,899 units in the quarter, up 33.1%, and 1,257,686 over nine months, up 21.3%. Wuhu sold 101,040 quarterly units, up 138.6%, and 223,440 over nine months, up 82.7%. Subsidiary figures include inter-subsidiary sales before elimination.

The board also approved repurchases of up to $5 million in common shares over the next 12 months through November 10, 2027. Open-market purchases may occur at prevailing prices not exceeding $5.50 per share; timing and amounts depend on market conditions and other factors.

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Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter 2026 electric power steering sales reached a record 567,314 units, up 40.1% year over year.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Up to $5 million in common-share repurchases authorized through November 10, 2027, at prices not exceeding $5.50. 4% of market cap
• Minor pointFirst-nine-month 2026 electric power steering sales reached a record 1,461,381 units, up 32.7% year over year.
• Minor pointHenglong KYB third-quarter 2026 sales reached 466,899 units, up 33.1% year over year, before inter-subsidiary eliminations.
• Minor pointHenglong KYB first-nine-month 2026 sales reached 1,257,686 units, up 21.3% year over year, before inter-subsidiary eliminations.

3 minor points

• Minor pointWuhu third-quarter 2026 sales reached 101,040 units, up 138.6% year over year, before inter-subsidiary eliminations.
• Minor pointWuhu first-nine-month 2026 sales reached 223,440 units, up 82.7% year over year, before inter-subsidiary eliminations.
• Minor pointSales increased to global Tier-1 vehicle OEMs in North and South America and European-branded vehicles.

Negative

• Minor pointUnit sales figures are preliminary and unaudited, rather than final results.

Key Figures

Q3 EPS product sales: 567,314 units; +40.1% year-over-year Nine-month EPS product sales: 1,461,381 units; +32.7% year-over-year Repurchase authorization: Up to $5 million +1 more

Q3 EPS product sales

567,314 units; +40.1% year-over-year

Third quarter 2026; preliminary and unaudited

Nine-month EPS product sales

1,461,381 units; +32.7% year-over-year

First nine months of 2026; preliminary and unaudited

Repurchase authorization

Up to $5 million

Outstanding common shares

Repurchase price cap

$5.50 per share

Repurchases may occur through November 10, 2027

Previous Buybacks Reports

1 past event · Latest: Nov 18

Same Type 1 event

1. Nov 18

   Share repurchase

   24h Move

   +6.7%

   Earlier authorization used the same $5 million ceiling, 12-month period, and $5.50 per-share cap.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WUHAN, China, Nov. 11, 2026 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced preliminary third quarter 2026 sales results for its electric power steering ("EPS") products, with unit sales reaching record highs for both the quarter and the nine-month period. Separately, the Company announced that its board of directors has approved a share repurchase program of up to $5 million of its outstanding common shares.

Record EPS Unit Sales

EPS product sales reached record levels in the third quarter and the first nine months of 2026:

Third quarter 2026: EPS sales of 567,314 units, a record high, an increase of 40.1%, compared with the third quarter of 2025.

First nine months of 2026: EPS sales of 1,461,381 units, an all-time high, an increase of 32.7%, compared with the first nine months of 2025.

The record results were achieved across the Company's EPS operations:

Henglong KYB: record EPS sales of 466,899 units in the third quarter of 2026, an increase of 33.1% year-over-year, and 1,257,686 units in the first nine months of 2026, an increase of 21.3% year-over-year.

Wuhu: record EPS sales of 101,040 units in the third quarter of 2026, an increase of 138.6% year-over-year, and 223,440 units in the first nine months of 2026, an increase of 82.7% year-over-year.

Unit sales reported by the Company's subsidiaries are stated before the elimination of inter-subsidiary sales; accordingly, the sum of the subsidiary figures above exceeds the Company's consolidated unit sales. The unit sales figures presented above are preliminary and unaudited.

Share Repurchase Program

Separately, the Company announced that its board of directors has approved a share repurchase program of up to $5 million of its outstanding common shares. Repurchases may be made from time to time over the next 12 months in open market transactions at prevailing market prices not to exceed $5.50 per share through November 10, 2027, subject to applicable laws, regulations and approvals. The timing and amount of any repurchases will depend on a variety of factors, including market conditions. 

Mr. Hanlin Chen, chairman of CAAS, commented, "We continue to record strong growth as we introduce new innovative products and develop new global relationships. Our current stock valuation does not reflect our sales and profit growth, cash flow generation, and expanding global network. We are focusing on a number of innovative products, including advanced electric power steering products, and CAAS has state-of-the-art technologies as we introduce new products and markets."

Mr. Qizhou Wu, chief executive officer of CAAS, commented, "We continue to add technology to enhance our steering products and broaden our EPS portfolio. These advancements enable us to attract new customers and better serve our existing ones. We have increased sales to global Tier-1 vehicle OEMs in North and South America and to European-branded vehicles, and broadened our product offerings to new energy vehicles."

Mr. Jie Li, chief financial officer of CAAS, commented, "Our stock's market capitalization is well below a number of financial metrics, including our combined cash, cash equivalents and pledged cash, working capital, and book value. Third quarter free cash flow remains robust compared with 2025."

About China Automotive Systems, Inc.

Based in Hubei Province, the People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through its sixteen Sino-foreign joint ventures and wholly-owned subsidiaries. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 8 million sets of steering gears, columns and steering hoses. Its customer base is comprised of leading auto manufacturers, such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd. in China, and Stellantis N.V. and Ford Motor Company in North America. For more information, please visit: https://www.caasauto.com.

Forward-Looking Statements

This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result, the Company's actual results could differ materially from those contained in these forward-looking statements due to a number of factors, including those described under the heading "Risk Factors" in the Company's Annual Report on Form 20-F as filed with the Securities and Exchange Commission on April 22, 2026, and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Any of these factors and other factors beyond our control could have an adverse effect on the overall business environment, cause uncertainties in the regions where we conduct business, cause our business to suffer in ways that we cannot predict, and materially and adversely impact our business, financial condition and results of operations. A prolonged disruption or any further unforeseen delay in our operations of the manufacturing, delivery and assembly process within any of our production facilities could continue to result in delays in the shipment of products to our customers, increased costs and reduced revenue. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.

For further information, please contact:

Jie Li
Chief Financial Officer
China Automotive Systems, Inc.
Email: jieli@chl.com.cn

Kevin Theiss
Awaken Advisors
+1-212-510-8922 
Email: Kevin@awakenlab.com

View original content:https://www.prnewswire.com/news-releases/china-automotive-systems-reports-record-third-quarter-2026-eps-sales-board-approves-5-million-share-repurchase-program-302935730.html

SOURCE China Automotive Systems

FAQ

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What were China Automotive Systems' third-quarter 2026 electric power steering sales?

China Automotive Systems reported preliminary, unaudited third-quarter 2026 electric power steering sales of 567,314 units, a record and a 40.1% increase from the third quarter of 2025. First-nine-month sales reached a record 1,461,381 units, up 32.7% from the same period in 2025.

What are the terms of CAAS's share repurchase program?

The board authorized purchases of up to $5 million of outstanding common shares over the next 12 months through November 10, 2027. Purchases may occur in the open market at prevailing prices not exceeding $5.50 per share. Timing and amounts depend on market conditions and other factors.