China Automotive Systems, Inc. (NASDAQ:CAAS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
At a meeting of the Board of Directors (the Board) of China
Automotive Systems, Inc. (the Company) held on December 2, 2016,
the Board relieved Mr. Daming Hu from his duties as Chief
Accounting Officer of the Company. Mr. Hu was incapacitated and
had been onlong-termsickleave since September 2015. The Board
determined not to appoint a successor Chief Accounting Officer.
About China Automotive Systems, Inc. (NASDAQ:CAAS)
China Automotive Systems, Inc., (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry. Genesis also owns interests in a Brazil-based trading company, which engages mainly in the import and sales of automotive parts in Brazil. Henglong USA Corporation (HLUSA), which is a subsidiary of the Company, engages in marketing of automotive parts in North America, and provides after sales service and research and development support. The Company’s geographical segments include the United States, China and other foreign countries. One of its subsidiaries, Shenyang Jinbei Henglong Automotive Steering System Co., Ltd., focuses on power steering parts for light duty vehicles. China Automotive Systems, Inc. (NASDAQ:CAAS) Recent Trading Information
China Automotive Systems, Inc. (NASDAQ:CAAS) closed its last trading session up +0.09 at 5.19 with 33,529 shares trading hands.