 WUHAN, China, May 12, 2021 PRNewswire -- China Automotive Systems, Inc. NASDAQ: CAAS CAAS or the Company, a leading power steering components and systems supplier in China, today announced its unaudited financial results for the first quarter ended March 31, 2021. First Quarter 2021 Highlights Net sales rose 77.0 to 130.3 million from 73.6 million in the first quarter of 2020 Gross profit increased 75.9 to 19.7 million from 11.2 million in the first quarter of 2020; gross margin was 15.1 compared with 15.2 in the first quarter of 2020 Income from operations increased 320.0 to 4.2 million from 1.0 million in the first quarter of 2020 Net income attributable to parent companys common shareholders was 3.2 million, or diluted income of per share of 0.10, compared to net loss attributable to parent companys common shareholders of 0.03 million, in the first quarter of 2020 Cash and cash equivalents, and pledged cash were 122.0 million as of March 31, 2021 Mr. 