for Systems' everyone, today. to Welcome Thank Second joining Quarter Automotive XXXX Conference China you, us Call.
Automotive Financial Joining us and of available Chief Officer; the questions call later of Chief Wu, will in China to Officer the answer today are Mr. translation. Mr. Jie Qizhou Systems. be They with conference Executive assistance Li,
may Before we may call, we throughout contain statements. that forward-looking this begin, I listeners will statements remind that all make
the and Forward-looking of call statements of company's only date estimates call. assumptions represent this as the
with As filed and those other the the company's factors, the annual and heading company's in the a statements materially a the the by Securities actual Commission report to the as Securities result, in of and results contained ended for due Exchange time documents Form year differ XX-K could including from number December company forward-looking under Factors from time XX, those Commission. described in with the Risk Exchange filed to XXXX,
If weakened COVID-XX is condition be and sales, in national and affected business for effectively the the market outbreak our our as other growth, financial outlook regional financial may that adversely and or we slowdown deteriorating materially economic factors automobile of result timely liquidity operations of condition and the controlled, a of and not customers cannot foresee.
operations. regions our and uncertainties the and could cannot adverse effect to we and financial an in have on materially business in we these of of control cause ways business factors and that adversely factors environment, overall our Any impact results condition suffer conduct predict our cause beyond other the business, business, where
process the revenue. operations facilities unforeseen in further of And reduced in manufacturing, and products for to our our production our or of delivery any cost shipment increased in and long of delays within result disruption, the to customers, could continue delay any assembly
brief and of in a call, company The any whether forward-looking duty made to result the to call, new of conduct events I months quarter On GAAP and The and a or the disclaims of results results quarter updates X otherwise. using are first are information, provide statements ended Management session. summary this will XXXX. reported following unaudited accounting. this second any months June XXXX overview a and expressly first financial future as XX, second X question-and-answer period provide will U.S.
our call financial of purposes results I'll the the dollars. For in review today, U.S.
the market will China We with the Chinese a and begin recent of automobile position. review Automotive's industry of dynamics economy,
XXXX a net in by following Our rose sales in rise XXXX. year-over-year the first XX% XX% quarter quarter of of second year-over-year
months X For increased sales the of to XXXX, our million. by net year-over-year XX.X% $XXX.X
$XX.X steering XX.X% to XX.X% Our advanced products and ForEx year-over-year second to EPS, year-over-year quarter million. increased Net steering, of in almost of in XX% sales grew sales. total in by XXXX power electric hydraulic the represented $XX.X million
was Association XXXX the Chinese XXXX, The solid XXXX. continues by led X.X% XX.X% COVID-XX XXXX, X.X% the from year growth. to the XX.X% by in economy XX.X% from Manufacturers, of of from higher quarter statistics down of in of a of ago. GDP half passenger expand increase China by year-over-year year-over-year in pandemic economic than GDP automobile for the to second the in first still Chinese the first rose interim CAAM. vehicles. a the sales Automobile but impact According quarter grew
a June. by decrease XX.X% In in sales May, X.X% with automobile declined
units, approximately June XX months vehicle reported million sales Automobile XX, ended representing with of the gain that grew For X ahead of Chinese XX% year. a year-over-year XX.X% last CAAM sales passenger XXXX,
units passenger year-over-year sales of X.X growth. units, the by by were million a grew NAV energy unit representing XXX.X% first approximately vehicles XX.X% up main Sedan X.X%. million XX% were the vehicles, sales of X XXXX.
In increased X.X million months In X XX.X% units, market units, X of sales vehicles, months reached XX.X% by XXXX, to the share, XX.X%, increased months up taking MPV first new XXX.X% commercial market, and SUV increased to sales XX,XXX XXXX, NEV of branded sales Chinese The X.X first XX.X%. our domestic in year-over-year NEV the sale and unit vehicle sales of up
statistics.
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and Additionally, units truck growth by our customers half sales disruptions had the new of sales our of and there vehicle except benefited stronger XXXX a lows. the partially market, market enforcement comparisons grew sales caused infrastructure growth, to anti-overloading operating abroad. X XXXX. the reflect projects.
These Each China double-digit slight quarter which America North our in percentages lower-than-normal rebounded when pandemic XXX.X% to by first second the -- COVID-XX 'XX the auto the in in the in Tier to by downturn achieved Exports commercial of as
outlook Beijing selling vehicle Chery Motors. EPS auto, the to our more have producers, Auto As JAC be approximately been for into alone EPS electric EV previously market in including supplied the Great $XXX,XXX products continues The units and of Wall, to XXXX. announced, we
quarter of expenses helped company's XXXX. second in operations from of the year-over-year with margin to income, in Total second attributable a net X.X% quarter Our other XX.X% the $X.X and EPS increased of of of the XXXX.
In the income new vehicle's which known companies company's data in parking the operating XXX.X% to income create the commonly equity with assistance of autonomous a shareholders gross gross lane lane-keeping system, advanced communicates with $XXX,XXX driver quarter million to a we financial XXXX. and integrates main $X.X loss and year-over-year.
Income parent of proprietary assist, XXXX, was the second to of million common system. first of net centering for part million more quarter introduced assist to assist, higher our XX.X% compared systems A as than referred income functions jam ADAS, by as $XX.X profit of increased driving traffic or affiliated of compared loss million automatic combination as reported generate the $X.X
the Sentient autonomous holds software June currently driving specializing advanced in vehicle, motion for including and the autonomous EPS, vehicle in steer-by-wire design we SW, steering ADAS overlay our technology announced Powerpacks, steering drivers and interest and for in been experience. in Sentient our demonstrated autonomous integrated and since to functions and Level with XX% further provide have to angle designed control patents its AB, in solutions, plan and has X. complete production ECU, a gear hardware Sentient the systems, purchase systems. Swedish To products functions, XX and company Sentient's on XXXX housing NHTSA be technology proprietarily automotive tested XXXX, that development steering motor can capabilities software drive. that's steering to control vehicles, motion and of also hardware been fully control X superior motion
leading off plug-in phase we XXXX, be plug-in is system SUV of tool compact company's European In developer Tonale, This a process the entered luxury XXXX new which of will for the to Romeo's steering which announced brand. first that into for LTOP, Romeo, first system features from July steering powertrain. new we Alfa hybrid hybrid a Alfa model
Romeo a and CAAS project Approximately Alfa under system. this with units the for is vehicles. CAAS's and expected Europe, brand first in high-end new are XXX,XXX The Stellantis steering also annual of to LTOP ordered group second project be the
Also, is with proud inspection and automotive standard. SGS XXXXX:XXXX Classifying the verification, features safety ISO Automotive Henglong standards certification software TUV. D safety safety subsidiary, certification. is highest as D, ASIL stringent This world's that Group the to XXXXX:XXXX components we our Limited, leading and A integrity Hubei with level company. are received most safety both from ASIL-D SGS risk, recognized owned different wholly the testing and being ISO Systems hardware from
from us peer other many companies. Our certification D distinguishes
provides support of future financial technologies enhance shareholder value. strong new the to Our growth and resources strength development to
and rose June cash at XX, the $XXX.X to of equity end Our pledged million $XXX.X cash was XXXX. of from as stockholders' Total June XXXX XXXX. million and total $XXX.X XX, equivalents at million company parent cash
portfolio We have financial advanced technology base and growing further strength, to of shareholder build a company our a and large customer value.
$XX.X XX.X% the from in $XX.X was for of XX.X% to Now XXXX XXXX. XX% compared of in the second compared increased let me with rose second the quarter million to quarter second million compared results $XX.X quarter XXXX. sorry, in North million in products, in EPS XXXX were of in I'm XXXX. sales Export total quarter standing review sales period of financial the second million -- million customers second traditional increased quarter million $XXX.X same to sales of sales and the the for of million quarter million of of the to to Net the XXXX. $XX.X for XXXX products $XX.X period the of $XXX.X the period in XX.X% net quarter same sales the American to with for by EPS compared XXX.X% of XXXX.
Net XX.X% in ForEx to power compared XXXX. electric XXXX million second with for to steering, same $XX.X product second $XX.X the by Net sales
increased increase to million XXXX. XXX.X% $X.X to compared quarter compared in sales quarter Gain million the long XXXX of gross quarter compared margin of and XX.X% in the the million was $X.X by margin Gross in second XXXX. second second The the million gross of on company's was net in profit $X.X in mainly $XX.X XXXX. Henglong to higher sales quarter was profit X.X% second the rose in Gross of to due Hubei with other operations.
due the X.X% and higher in expenses, Selling compared expenses $X.X in the represented compared of selling increase million XXXX, XXXX. XX.X% of of second second net X.X% second expenses also G&A second $X.X second quarter of in by quarter to XXXX. expenses. in the expenses million compared XXXX. sales to Selling was quarter of of XXXX. quarter represented second General to in the of were the $X.X the administrative quarter net net X.X% G&A, to expenses million quarter primarily in of X.X% increased sales to personnel compared of to XXXX $X in The sales million
compared expenses, million X.X% expenses the development and second quarter of of million in XXXX. compared XXXX. of second $X.X sales in the R&D, in net Research of quarter $X.X the to second X.X% R&D quarter to represented were
second the other in loss quarter second the of Our quarter quarter Income was XXXX the the $X.X to $X.X from a to XX, million X $X.X XXXX June million of months of net million $X.X for XXXX. XXXX. second ended in was income compared million operations of in compared
$X.X Interest financial the million of quarter of the XXXX second was expense million quarter to compared with XXXX. net the quarter substantially quarter financial expense $X.X income million in was Net consistent second second XXXX. of XXXX, in in the in million of $X.XX of $X.X second
benefit due exchange companies of change quarter XXXX the $X.X quarter affiliated the expense expense $X.X The achieving net affiliated earnings of foreign quarter and in second equity company financial income second before tax the was before earnings loss XXXX with tax and to foreign of the XXXX. equity to a of in Income exchange second in in XXXX. in compared million in the expense million a of was of and second a primarily compared income quarter expense of
was of attributable to of income attributable second company's to to million quarter million net of shareholders loss a in $X.X parent Net quarter XXXX. shareholders common the compared the company's the parent XXXX in $X.X second
of to the diluted of of was share per of outstanding shares per common net in the second XX,XXX,XXX in of $X.XX shares in second share The the loss earnings quarter $X.XX. compared was second to average the quarter second number XXXX XXXX. XX,XXX,XXX quarter compared Diluted weighted In quarter diluted of XXXX. XXXX
income to months some corresponding Now XXXX. million highlights. compared months of XX.X% XXXX the increased X margin XX.X% let's $XXX.X compared period go million was months months in XXXX. last million compared X the over to in profit of first year. XX.X% to gross X financial first of X gross Net $XX.X months the in first million X months the $XX was X in with $XXX.X
XXXX months of $X.X in other operations X year. compared from $X Income first XXXX the corresponding The in loss $X.X of months last X compared the gain $X.X the million the million was million on operations sales to was XXXX. the million with period first months X first in in of of from
share months first attributable months $X.XX million loss digit X the in XXXX. Net XXXX the per $X.X in net company's attributable to shareholders of share first X in per X to compared income $X.X loss in parent $X.XX to was a first to parent the company's of was of compared of months XXXX. shareholders million the period corresponding earnings common of Diluted XXXX in common
Now I'll sheet review balance items. a few
As XX, XX, $XXX.X was was including were receivable, XXXX. $XX.X Total cash company's notes $XXX.X total pledged Accounts as equivalents were and XXXX, Total were XX, June payable, million payable, June million. cash stockholders' and $XXX.X to of accounts as XXXX, cash $XXX.X and including loans equity million. million notes of December short-term million. of compared $XXX.X million receivable,
change. The million. on guidance from This on current and is year conditions, target XXXX revenue to for to views operating Management raised million are $XXX business has company's full outlook. market the subject based which the $XXX
the ready to operator, that, With Q&A. we're begin
