← China Automotive Systems, Inc.

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income $8.1m $5.3m ($5.2m) ($15.7m) $1.5m $17.4m $42.7m $37.9m $51.9m
Net Income From Continuing Operations — — — — — $22.3m $42.7m $37.9m $51.9m
Depreciation and amortization $2.5m $1.9m $1.7m $1.3m $1.4m $1.7m $18.7m $20.2m $14.3m
Amortization of debt issuance cost — — — — — — $149k $30k —
Depreciation Amortization Depletion — — — — — $25.2m $18.7m $20.2m $14.3m
Deferred income taxes ($27k) $209k $220k $218k ($65k) $592k ($1.3m) ($6.0m) ($1.4m)
Deferred Income Tax — — — — — $1.2m ($1.3m) ($6.0m) ($1.4m)
Deferred Tax — — — — — $1.2m ($1.3m) ($6.0m) ($1.4m)
Impairment loss on property, plant and equipment $40k $114k — $37k $39k $19.9m $794k $886k $628k
Goodwill impairment — — — — — — — $6.4m $20.4m
Intangible asset impairment $0 $7.0m — — — — $5.2m $1.3m $2.6m
Non-cash impairment charges — $7.0m — — — — — — —
Excess tax benefit of stock compensation $18k $0 — — — — — — —
Asset Impairment Charge — — — — — $2.7m $794k $886k $628k
Investment under equity method — — — — — — ($7.7m) ($5.9m) ($1.1m)
Leased assets obtained in exchange for new operating lease liabilities — — — $5.3m $3.7m $3.7m $57k $8.2m $4.7m
(Income) loss from equity method investment $417k ($234k) — — — — — — —
Earnings (Loss)es From Equity Investments — — — — — ($2.4m) $360k $340k ($2.1m)
(Reversal) of/ allowance for credit losses — — — — — — $1.6m ($953k) ($620k)
Equity in (gain)/loss of affiliates — — — — — — $360k $340k ($2.1m)
Loss/(gain) on disposal of fixed assets — — — — — — ($3k) $1.3m $997k
Other assets and other non-current assets — — — — — — — ($7.4m) $474k
Accounts and notes receivable — — — — — — ($50.7m) ($77.7m) ($9.6m)
Advance payments and others — — — — — — ($3.9m) $2.7m ($1.5m)
Inventories ($6.6m) $4.0m ($435k) ($913k) ($5.2m) ($3.7m) ($1.7m) ($1.8m) ($9.2m)
Other receivables — — — — — — ($556k) $138k ($516k)
Accounts and notes payable — — — — — — $22.0m $40.4m $50.1m
Customer deposits $38.1m ($34.5m) ($933k) ($1.4m) $400k $5.6m $3.1m ($4.1m) $940k
Accrued payroll and related costs — — — — — — $77k $956k $2.8m
Accrued expenses and other payables — — — — — — ($2.7m) $13.3m $17.5m
Taxes payable — — — — — — ($6.8m) ($10.5m) ($2.7m)
Advances payable — — — — — — ($1.8m) $12k ($278k)
Cash paid to acquire intangible assets — — — — — — ($3.4m) ($804k) ($3.1m)
Cash received from long-term investments — — — — — — $3.3m $316k $3.4m
Proceeds from bank loans — — — — — — $64.8m $83.4m $35.3m
Repayment of bank loans and loans — — — — — — ($61.4m) ($59.0m) ($21.4m)
Repurchase of common shares $0 ($4.0m) — ($2.0m) — ($4.1m) — ($68k) —
Cash received from capital contributions by a non-controlling shareholder — — — — — — $3.5m $15.5m —
Change in accounts payable for acquiring property, plant and equipment ($1.3m) ($1.5m) ($714k) ($2.7m) ($3.0m) ($1.1m) $960k $3.5m $448k
Unit-based compensation expense $1.3m $855k $573k $326k $401k $543k $99k $38k $1.2m
Change in fair value of derivative liabilities — — — — — — ($649k) $7.4m —
Change in fair value of warrant liabilities — — — — — — $16.4m ($5.8m) —
R&D tax credit receivable — — — — — — $122k $112k —
Long term assets — — — — — — — ($36k) —
Accounts payable $5.4m ($10.2m) ($1.8m) ($3.6m) $5.5m ($1.1m) $1.0m $1.6m $2.2m
Accrued liabilities — — — — — — $1.8m $21k —
Accrued compensation — — — — — — ($391k) $82k —
Accrued federal tax liability, penalties and interest — — — — — — $786k $818k —
Interest payable — — — — — — $3.6m $5.0m —
Interest payable to related parties — — — — — — $6.4m $7.1m —
Payable to related parties — — — — — — $134k $662k —
Proceeds from loans $755k $0 $9k — — — $6.2m $6.4m —
Loan origination fees — — — — — — — ($81k) —
Principal payments on finance lease liabilities — — — — — — ($7k) — —
Repayment of loans ($674k) ($368k) ($376k) ($379k) ($380k) ($4.9m) ($521k) ($10.7m) ($93k)
Adjustment to shareholder receivables — — — — — — ($10k) ($4k) —
Conversion of interest payable to debt — — — — — — $2.7m — —
349,871 series B units transferred from NACS to Taylor Freres $0 — — — — — — $38k —
Write-down of inventory $420k $542k $3.2m $733k $544k $102k $2.6m $2.8m $6.5m
Provision for allowance for doubtful accounts ($720k) $45k $1.1m $24k $44k ($32k) $14k $18k $30k
Loss (gain) on sale of fixed assets $26k ($92k) ($11k) — — ($12.5m) — ($2.2m) $248k
Accounts receivable ($8.7m) $3.3m $299k $1.4m ($11.0m) ($2.5m) $4.4m $4.5m $2.1m
Contract and other assets ($8.9m) $10.6m $12.8m $324k ($686k) ($2.2m) ($529k) $4.8m $3.5m
Accrued income taxes $573k ($1.7m) ($3.0m) ($2.7m) $353k $623k ($2.9m) $436k $733k
Accrued and other liabilities $1.9m $2.0m ($6.9m) $4.7m $829k $584k ($1.9m) ($5.2m) ($2.4m)
Proceeds from the exercise of stock options — $1.9m $210k $877k $1.5m $720k $1.2m $85k $363k
Payment of payroll taxes on stock-based compensation through shares withheld — — — — — — — ($111k) —
Income tax payments, net $146k ($980k) $993k $2.1m $1.9m $386k $2.8m $623k $1.5m
Payables due for fixed asset additions — — — — — $152k $633k $116k $257k
Leased assets obtained in exchange for new finance lease liabilities — — — — $160k $42k $46k $207k $105k
Other, net — ($183k) $95k $55k $43k — $196k — —
Return of fixed assets resulting in loan payoff — — — — — — $184k — —
Modification of leased assets resulting in a reduction of lease liabilities — — — — — — $2.3m — —
Accrued for asset retirement obligation — — — — $36k — — — —
Loss on sales of subsidiaries — — ($1.6m) $13.7m — — — — —
Net cash disposed of in sales of subsidiaries — — ($1.1m) ($9.9m) — — — — —
Proceeds from sale of other assets $0 $5.7m — — — — — — —
Gain on sale of other assets $0 ($2.9m) — — — — — — —
Capitalized interest $277k $143k $106k — — — — — —
Net cash disposed of in sale of subsidiary — — ($1.1m) — — — — — —
Net of acquired non-controlling interest over debt forgiveness (See Note 16) ($332k) $0 — — — — — — —
Beginning Cash Position — — — — — $159.5m $159.0m $155.2m $101.8m
Cash Flow From Continuing Financing Activities — — — — — ($1.6m) $6.8m $17.4m $11.5m
Cash Flow From Continuing Investing Activities — — — — — ($32.7m) ($28.6m) ($77.9m) ($31.5m)
Change In Account Payable — — — — — $27.3m $22.0m $40.4m $50.1m
Change In Accrued Expense — — — — — $2.8m ($2.6m) $14.2m $20.2m
Change In Income Tax Payable — — — — — $2.9m ($6.8m) ($10.5m) ($2.7m)
Change In Inventory — — — — — ($5.4m) ($1.7m) ($1.8m) ($9.2m)
Change In Other Current Assets — — — — — — $0 ($7.4m) $474k
Change In Other Working Capital — — — — — $3.6m $3.1m ($4.1m) $940k
Change In Payable — — — — — $30.5m $13.4m $29.9m $47.1m
Change In Payables And Accrued Expense — — — — — $33.3m $10.8m $44.2m $67.3m
Change In Prepaid Assets — — — — — ($41k) ($3.9m) $2.7m ($1.5m)
Change In Receivables — — — — — ($36.9m) ($51.3m) ($77.6m) ($10.1m)
Change In Tax Payable — — — — — $2.9m ($6.8m) ($10.5m) ($2.7m)
Change In Working Capital — — — — — ($5.5m) ($42.9m) ($43.9m) $48.0m
Changes In Account Receivables — — — — — ($36.9m) ($50.7m) ($77.7m) ($9.6m)
Changes In Cash — — — — — $13.7m ($1.9m) ($50.8m) $91.6m
End Cash Position — — — — — $159.0m $155.2m $101.8m $194.3m
Financing Cash Flow — — — — — ($1.6m) $6.8m $17.4m $11.5m
Free Cash Flow — — — — — $27.5m ($1.8m) ($34.7m) $71.3m
Gain Loss On Sale Of PPE — — — — — $58k ($3k) $1.3m $997k
Investing Cash Flow — — — — — ($32.7m) ($28.6m) ($77.9m) ($31.5m)
Net Business Purchase And Sale — — — — — ($12.8m) ($7.7m) ($5.9m) ($1.1m)
Net Intangibles Purchase And Sale — — — — — ($188k) ($3.4m) ($804k) ($3.1m)
Net PPE Purchase And Sale — — — — — ($18.8m) ($15.4m) ($23.1m) ($37.0m)
Operating Gains Losses — — — — — ($2.3m) $357k $1.6m ($1.1m)
Provisionand Write Offof Assets — — — — — $4.4m $1.6m ($953k) ($620k)
Purchase Of Business — — — — — ($12.8m) ($7.7m) ($5.9m) ($1.1m)
Purchase Of Intangibles — — — — — ($188k) ($3.4m) ($804k) ($3.1m)
Purchase Of PPE — — — — — ($20.3m) ($18.2m) ($43.7m) ($37.2m)
Repurchase Of Capital Stock — — — — — ($2.4m) $0 ($68k) $0
Sale Of PPE — — — — — $1.5m $2.8m $20.5m $169k
Stock Based Compensation — — — — $88k $0 — — —
Net cash provided by operating activities $34.1m ($13.8m) $173k ($1.7m) ($6.0m) $5.2m $19.9m $9.8m $111.6m
Cash received from property, plant and equipment sales $40k $114k — $37k $39k $19.9m $2.8m $20.5m $169k
Cash paid to acquire property, plant and equipment and land use right (including $23,158, $6,343 and $5,336 paid to related parties for the years ended December 31, 2025, 2024 and 2023, respectively) ($1.3m) ($1.5m) ($714k) ($2.7m) ($3.0m) ($1.1m) ($18.2m) ($43.7m) ($37.2m)
Property, plant and equipment recorded during the year which previously were advance payments $40k $114k — $37k $39k $19.9m $2.7m $3.6m $8.3m
Transfer of inventory to property, plant, and equipment $120k $902k — $37k $39k $169k $2.7m $50k $8.3m
Transfer of property, plant, and equipment to inventory $22k $0 — $37k $39k $19.9m $2.7m ($20k) ($101k)
Purchase of short-term investments and long-term time deposits — — — — — — ($68.5m) ($77.9m) ($32.2m)
Net Investment Purchase And Sale — — — — — ($1.1m) ($2.0m) ($48.1m) $9.8m
Purchase Of Investment — — — — — ($80.2m) ($68.5m) ($77.9m) ($32.2m)
Proceeds from maturities of short-term investments — — — — — — $63.2m $29.4m $38.6m
Sale Of Investment — — — — — $79.1m $66.5m $29.8m $42.0m
Net Other Investing Changes — — — — ($17k) $146k — — —
Net cash used in investing activities ($1.2m) $4.4m ($1.8m) ($12.6m) ($8.1m) $18.8m ($28.6m) ($77.9m) ($31.5m)
Issuance Of Debt — — — — — $51.9m $64.8m $83.4m $35.3m
Long Term Debt Issuance — — — — $53.2m — $64.8m $83.4m $35.3m
Net Issuance Payments Of Debt — — — — — $851k $3.3m $24.4m $13.8m
Net Long Term Debt Issuance — — — — — ($1.1m) $3.3m $24.4m $13.8m
Net Short Term Debt Issuance — — — — $2.4m $2.0m $3.3m — —
Short Term Debt Issuance — — — — $53.2m $51.9m $64.8m — —
Long Term Debt Payments — — — — — ($1.1m) ($61.4m) ($59.0m) ($21.4m)
Repayment Of Debt — — — — — ($51.0m) ($61.4m) ($59.0m) ($21.4m)
Short Term Debt Payments — — — — ($50.8m) ($49.9m) ($61.4m) — —
Proceeds from issuance of common stock, net $12.6m $1.9m $210k — — — — — —
Net Common Stock Issuance — — — — — ($2.4m) $0 ($68k) $0
Common Stock Payments — — — — — ($2.4m) $0 ($68k) $0
Dividends paid to the common shareholders — — — — — — — ($22.4m) ($2.2m)
Dividends paid to non-controlling shareholder — — — — — — — — ($199k)
Cash Dividends Paid — — — — $0 — $0 ($22.4m) ($2.2m)
Common Stock Dividend Paid — — — — — — $0 ($22.4m) ($2.2m)
Net Other Financing Charges — — — — ($1.1m) — $3.5m $15.5m ($199k)
Net cash provided by financing activities $12.7m ($2.5m) ($157k) ($1.5m) $1.2m ($8.3m) $6.8m $17.4m $11.5m
Effect Of Exchange Rate Changes — — — — — ($14.2m) ($1.8m) ($2.6m) $863k
Net increase/(decrease) in cash, cash equivalents and pledged cash $47.2m ($13.3m) ($3.4m) ($14.1m) ($12.2m) $14.0m ($3.8m) ($53.4m) $92.5m
Cash and cash equivalents affected by foreign currency $1.7m ($1.4m) ($1.6m) $1.7m $656k ($1.7m) ($1.8m) ($2.6m) $863k
Cash, cash equivalents and pledged cash at beginning of year $28.5m $75.8m $62.5m $59.1m $45.1m $32.8m $155.2m $101.8m $194.3m
Acquisitions, net of cash and cash equivalents acquired $0 — — — ($5.1m) — ($34.9m) — —
Supplemental disclosure of acquisition of operating lease assets — — — — — — $278k — —
Change In Cash Supplemental As Reported — — — — — ($548k) ($3.8m) ($53.4m) $92.5m
Cash paid for interest $269k $304k $262k $265k $241k $164k $1.1m $1.8m $1.7m
Cash paid for income taxes — — — — — $4.0m $8.0m $18.5m $20.5m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.