Profile: China Automotive Systems Inc (CAAS.O)

China Automotive Systems, Inc. (China Automotive), incorporated on June 29, 1999, is a holding company and has no significant business operations or assets other than its interest in Great Genesis Holdings Limited (Genesis). Through Genesis, the Company manufactures power steering systems and other component parts for automobiles. All operations are conducted through eight Sino-foreign joint ventures in China and a wholly owned subsidiary in the United States. In April 2008, the Company acquired a 35.5% interest in Hubei Wanlong Investment Co, increasing its ownership to 80%.

On March 31, 2008, the Company’s wholly owned subsidiary, Genesis, and Wiselink Holdings Limited (Wiselink), entered into an equity transfer agreement, the Henglong Agreement, pursuant to which Wiselink agreed to transfer and assign its 35.5% equity interest in Jingzhou Henglong Automotive Parts Co. Ltd (Henglong), one of the Company’s consolidated subsidiaries, to Genesis. The Company holds an 80% equity interest in Jingzhou Henglong. The Company owns two trademarks covering automobile parts and twelve Chinese patents covering power steering technology.

The Company competes with Shanghai ZF and FKS.