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Stock impact report

China Automotive Systems Announces Share Repurchase

China Automotive Systems, Inc (CAAS)  More Company Research Source: PR Newswire
Last china automotive systems, inc earnings: 11/12 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: caasauto.com
PDF WUHAN, China, Dec. 7, 2018  /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced that its board of directors approved a share repurchase program of up to $5 million of its outstanding common shares periodically over the next 12 months. Repurchases will be made in open market transactions, at prevailing market prices not to exceed $4.00 per share, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions. Members of the management team may make additional share purchases in addition to the Company repurchase.  Mr. Hanlin Chen, Chairman of China Automotive Systems, commented, "We do not believe that our current stock price reflects our leadership position in the Chinese automotive power steering industry. Despite the challenging automotive market in China today, we continue [Read more]
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