Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
abreast, aiming, attorney, clawback, CRSC, encountered, erroneously, figure, habitual, Hankou, Hian, Huishang, impracticable, Kay, leadership, Mahindra, mianly, Mingzhi, occurrence, Ping, posture, predicated, recover, recoverablilty, revoked, robust, safeguard, Sdn, suspended, training, UBS, UOB
Removed:
Beiqi, Brilliance, Chrysler, Chuangchun, disease, duration, Foton, Liping, nominal, respiratory, simultaneously, strain, view
Financial report summary
?Risks
- The Company may face a severe operating environment during times of economic recession.
- Inflation in China could negatively affect the Company’s profitability and growth.
Management Discussion
- Selected highlights from our operations (in thousands of U.S. dollars):
- Net product sales were $576.4 million for the year ended December 31, 2023, as compared to $529.6 million for the year ended December 31, 2022, representing an increase of $46.8 million, or 8.8%, mainly due to the Company’s increased sales of electric power steerings, “EPS”.
- Net sales of traditional steering products were $381.6 million for the year ended December 31, 2023, compared to $373.3 million for 2022, representing an increase of $ 8.3 million, or 2.2%. Net sales of EPS were $194.8 million for the year ended December 31, 2023, compared to $156.3 million for 2022, representing an increase of $38.5 million, or 24.6%. As a percentage of net sales, the sales of EPS were 33.8% for the year ended December 31, 2023, compared to 29.5% for 2022.