China Automotive Systems Announces U.S. Aftermarket Deal

By: ispeculatornew
Date posted: 12.10.2007 (7:11 pm) | Write a Comment  (1 Comment)

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CAAS – China Automotive Systems (Nasdaq) – (Closing Price – $8.41)

China Automotive Systems reported an almost twenty percent gain today after the company announced it signed its first aftermarket supply contract in the U.S. with aftermarket supplier Dorman Products Inc.

Financial terms were not disclosed.

This contract is obviously a positive development for China Automotive Systems and I would recommend to continue holding your shares. The stock price of China Automotive Systems has shown the ability to make strong runs in the past so I would see how it plays out over the next few days.

Disclaimer: I have no position in CAAS.

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1 Comment

  1. […] was even an insider buy on Dec. 3. The improved financial numbers, recent positive developments (US aftermarket deal) , and the halt to insider selling should all bode well for the stock price of China Automotive […]

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