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August 2, 2006

SpeculatingStocks.com Stock Pick: China Automotive Systems, Inc. (CAAS)

Stock Price: $7.44


China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through seven Sino-foreign joint ventures. Its customer base is comprised of leading Chinese auto manufacturers such as China FAW Group Corp., Donfeng Auto Group Co., Ltd., Brilliance China Automotive Holdings Ltd., Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd.

CAAS reported revenue of $21 million for the first quarter with net income rising 25% year-over-year to $1.1 million. Revenue rose 50% year-over-year. CAAS is partnered with the right high growth Chinese automobile companies to continue growing at a rapid pace.

CAAS is just emerging from a double bottom and should see $8.25 within the next 5 - 10 days. From there, we see it reaching very close to $12.00. There are only 1.71 million CAAS shares in the float due to 89.95% insider ownership.

 
     
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