NEWS regarding a presentation in Toronto this Saturday came up quick. Wouldn't want to be short CAAS on Monday after the Conference presentation. JMHO
China Automotive Systems, Inc. To Present at Global Chinese Financial Forum in Toronto Thursday October 14, 1:24 pm ET
HUBEI, China, Oct. 14, 2004 (PRIMEZONE) -- China Automotive Systems, Inc. (NasdaqSC:CAAS - News) today announced it is scheduled to make a presentation on Saturday, October 16 , 2004, at approximately 12:00 p.m. Eastern time at the Global Chinese Financial Forum to be held in Toronto, Canada, at the Metro Toronto Convention Center. Qizhou Wu, China Automotive System's chief operating officer, will review industry trends, as well as provide an overview of the company's business and growth opportunities.
ends starting tomorrow. This is a two-bit company that makes a small amount of money (and has to pay half of it to outside investors).
And the competition? It's comin' baby! Everyone's cutting to the bone.
'Gross Profit. Gross profit was $24,926,973 or 45.1% of net sales for the year ended December 31, 2003, which is consistent with budgeted levels. The Company expects that gross margins will decrease to approximately 35% during 2004 as a result of increased raw material costs.'