China Automotive Systems Announces Annual Meeting on September 24, 2024

CAAS announces the conference call and webcast information for the Annual Meeting of Stockholders to be held on Tuesday,September 24,2024 at 9:00 AM local time,or 9:00 PM EDT on Monday,September 23,2024

WUHAN,China,Sept. 16,2024 --China Automotive Systems,Inc. (Nasdaq: CAAS)("CAAS" or the "Company"),a leading power steering components and systems supplier in China,today announced that the Annual Meeting of Stockholders of China Automotive Systems,Inc. will be held on Tuesday,2024 at 9:00 am local time at the Second Floor Meeting Room,D8 Henglong Building,Optics Valley Software Park,No. 1 Guanshan First Avenue,Wuhan City,Hubei Province,the People's Republic of China. The Company has also set up a conference room on Monday,2024 at 9:00 PM at Henglong USA Corporation,2546 Elliott Drive,Troy,Michigan,U.S.,for the Company's shareholders to participate via a WebEx connection.

Shareholders may access the annual meeting by dialing U.S./Canada 1-408-792-6300,pin number 2633 219 5333 and ask for the China Automotive Systems AGM conference call.

A live webcast of the conference call will be available at:

https://caas-usa.webex.com/caas-usa/j.php?MTID=m43a4355899b76c40ac4f5cacb090eeb4

Meeting number (access code): 2633 219 5333

Meeting password: 5zuQxm3dMu6

About China Automotive Systems,Inc.

Based in Hubei Province,the People's Republic of China,China Automotive Systems,Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry,operating through eight Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of over 8 million sets of steering gears,columns and steering hoses. Its customer base is comprised of leading auto manufacturers,such as China FAW Group,Corp.,Dongfeng Auto Group Co.,Ltd.,BYD Auto Company Limited,Beiqi Foton Motor Co.,Ltd. and Chery Automobile Co.,Ltd. in China,and Stellantis N.V. and Ford Motor Company in North America. For more information,please visit: http://www.caasauto.com.

Forward-Looking Statements

This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. As a result,the Company's actual results could differ materially from those contained in these forward-looking statements due to a number of factors,including those described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 28,2024,and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Any of these factors and other factors beyond our control,could have an adverse effect on the overall business environment,cause uncertainties in the regions where we conduct business,cause our business to suffer in ways that we cannot predict and materially and adversely impact our business,financial condition and results of operations. A prolonged disruption or any further unforeseen delay in our operations of the manufacturing,delivery and assembly process within any of our production facilities could continue to result in delays in the shipment of products to our customers,increased costs and reduced revenue. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release,whether as a result of new information,future events or otherwise.

For further information,please contact:

Jie Li

Chief Financial Officer

China Automotive Systems,Inc.

[email protected]

Kevin Theiss

Awaken Advisors

+1-212-510-8922

[email protected]