China Automotive Systems: Rises on Q1 revenue beat

China Automotive Systems

23/06/2020 13:22

** China-based auto components supplier's shares  CAAS.O 
rise 18.6% to $3.70 in premarket trade; if gains hold stock set
to open at a six-month high
    ** Co posts Q1 revenue of $73.6 mln, beats average analysts'
estimate of $55.50 mln - Refinitiv IBES 
    ** On per share basis, company breaks even in Q1 vs a loss
of 9 cents loss estimated by analysts, according to Refinitiv
IBES 
    ** Co says by mid-March, most of the production operations
were up and running after the lockdown restrictions were lifted
by the respective local governments as the COVID-19 outbreak
subsided in China  urn:newsml:reuters.com:*:nPn26tw9na
    ** In April, co regained full operating capacity and
reopened its Wuhan headquarters after a temporary relocation to
Jingzhou City in March - CAAS
    ** CAAS is down ~1% YTD

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))