China Auto Logistics | chinaautologisticsinc.com
China Auto Logistics providing automobile sales and trading service and a Web-based automobile sales and trading information.
CHINA AUTO LOGISTICS CEO
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China Auto Logistics was founded in 08/2011 and its headquarters is located in TIANJIN, Tianjin Municipality, CN. China Auto Logistics has $514.1M in revenue and 40 employees. China Auto Logistics' top competitors are Caliente, 21Vianet and Jasco.
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President & CEO
Steve Zhenqing Zhang
Pete da Silva
Nicolette De Wit
Jeffery W. Yabuki
President & CEO
Chairman & CEO
Michael J. Brown
Chairman & CEO
President & CEO
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President & CEO
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|China Auto Logistics: BRIEF-Barna Capital Group Reports 19.5 Percent Stake In China Auto Logistics* BARNA CAPITAL GROUP SAYS CONSIDERS ACTIVIST POSITION, POSSIBLY A SEAT ON BOARD OF CHINA AUTO LOGISTICS INC - SEC FILINGReuters|
|Press Release: China Auto Logistics : China Auto Logistics, Inc. to Host Earnings CallNEW YORK, NY / ACCESSWIRE / November 15, 2017 / China Auto Logistics, Inc. (NASDAQ: CALI) will be discussing their earnings results in their Q3 Earnings Call to be held on November 15, 2017 at 8:00 AM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.investornetwork.com/company/23638.To receive updates for this company you can register by emailing firstname.lastname@example.org or by clicking get investment info from the company's profile.About Investor NetworkInvestor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on the what's trending. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Follow us on Twitter @investornetwork.SOURCE: Investor NetworkAccesswire|
|Press Release: China Auto Logistics : China Auto Logistics Reports 2017 Third Quarter and Nine Month Results TIANJIN, CHINA -- (Marketwired) -- 11/14/17 -- China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles and a leading provider of auto-related services, today reported results for the three months and nine months en ...Business Press 24|
|China Auto Logistics: China Auto Logistics Reports 2017 Third Quarter and Nine Month ResultsChina Auto Logistics Reports 2017 Third Quarter and Nine Month ResultsChina Auto Logistics Reports 2017 Third Quarter and Nine Month ResultsInvestor Conference Call Scheduled for Wednesday, November 15th at 8:00am ETTIANJIN, CHINA--(Marketwired - Nov 14, 2017) - China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles and a leading provider of auto-related services, today reported results for the three months and nine months ended September 30, 2017.In the 2017 third quarter - - based primarily on higher sales of automobiles - - revenues from continuing operations increased 30.5% year over year to approximately $125 million. However, weak gross margins in Auto Sales coupled with reduced fee revenues and margins in Financing Services, and a reserve for uncollectible receivables in the latter business, resulted in a net loss from continuing operations in the 2017 third quarter of approximately $(939,000) or a loss of $(0.23) per share.During the third quarter a key impact on gross margins in the Auto Sales business continued to be the 10% additional tax on "super luxury" cars imposed by the Chinese government in December of 2016. Although the Company was able to sell more high end luxury vehicles in the quarter as compared with the second quarter this year, high end sales nevertheless continued to be lower than normal and reduced profitability of the business. With respect to the large year over year increase in sales of automobiles, to some extent this reflected the lower than normal sales in the 2016 third quarter. The Company believes the latter resulted from auto dealer customers continuing throughout 2016 to draw down on inventories they had built up in 2015 and first quarter of 2016 in response to anticipated and actual sharp devaluations of the RMB versus the U.S. dollar. For the nine months ended September 30, 2017, year over year revenues increased approximately 14.5% to approximately $374.5 million. Weak gross margins in Auto Sales, lower Financing Services revenue, and a reserve set up for uncollectible Financing Services accounts, produced a net loss attributable to shareholders from continuing operations in the period of approximately $(1.42 million), or $(0.35) per share. This compared with a loss from continuing operations of approximately $(865 thousand), or $(0.21) per share in the first nine months of 2016.Commenting on these results, Mr. Tong Shiping, Chairman and CEO of the Company, stated, "While our efforts during the quarter generated an increase in Auto Sales, the steps we took to improve margins, such as increased retail sales, fell short. We will continue to take the necessary steps to maintain our leadership position and believe this will serve us well down the road as China's economy continues to rebound and as high end buyers return to the market." He added, "One key indicator during the quarter of confidence in the future of the Company was the acquisition in September by our largest shareholder - - Bright Praise Enterprises Limited ('Bright Praise') - - of 806,000 new common shares issued by the Company in connection with a Debt Exchange Agreement. This transaction which is fully described in our Form 10-Q and in other filings with the U.S. Securities and Exchange Commission, brought Bright Praise ownership of the Company to 50.7%."Financial Highlights of the Third Quarter and Nine Months ended September 30, 2017Net revenue from continuing operations in the third quarter rose 30.05% to $125,231,888 from $96,293,622 in the third quarter of 2016.The net loss from continuing operations attributable to shareholders in the third quarter was $(939,443), or $(0.23) per share, compared with a net loss of $(200,000) or $(0.05) per share, in the year earlier quarter.Gross profit margins in the 2017 third quarter declined to 0.42% from 0.65% a year earlier primarily due to the continuing impact of a 10% additional tax on "super luxury" automobiles imposed by the government, as well as lower Financing Services sales, and recording a reserve of $519,334 for uncollectable Financing Services accounts receivable.Net revenue from continuing operations for the nine months ended September 30, 2017 increased 14.47% to $374,524,571 from $327,177,025 in the year earlier period. Gross profit margins in the first nine months of 2017 decreased to 0.40% from 0.68% a year earlier, leading to a net loss from continuing operations of $(1,416,798) on $(0.35) per share, as compared with a net loss of $(835,397), or $(0.21) per share, in the 2016 nine month results.Total cash and cash equivalents increased to $5,742,988 as of September 30, 2017 from $3,004,932 as of December 31, 2016.As of September 30, 2017 the Company had working capital of $24,913,664 compared with $23,576,035 as of December 31, 2016.Primarily reflecting the operating losses incurred thus far in 2017 and the negative operating cash flows, the Company included a "Going Concern" paragraph in the Notes to the Company's Condensed Consolidated Financial Statements for the period ended September 30, 2017.As a consequence of the issuance of 806,000 common shares by the Company in September this year, the weighted average number of basic and diluted common shares outstanding for the three months ended September 30, 2017 increased to 4,095,720 from 4,034,494 at the same time last year.Sales of AutomobilesIn the 2017 third quarter the Company achieved increases in the volume and dollar amount of automobiles sold. Net revenue from Auto Sales of $124,174,090 represented a 30.35% increase over the prior year quarter, as the number of autos sold increased to 1,208 from 902 a year earlier. As previously described, these increases compared with relatively low sales in the third quarter of 2016 due to the inventory buildup by auto dealers in 2015 and first quarter of 2016 which was sold off in the remainder of 2016. Profit margins in the 2017 third quarter dropped to 0.12% from 0.14% a year earlier, primarily due to the continuing impact of the government's 10% extra tax on "super luxury" vehicles priced above $190,000, which typically yield the highest profit margins to the Company. Sales of these vehicles increased over sales in the 2017 second quarter, but not enough to generate significantly better results.Financing ServicesWhile net revenues from Financing Services in the 2017 third quarter increased 3.06% compared with the prior year quarter, revenue from the fee income portion of the business declined 22.48% in this time frame. This resulted in a 35.74% gross margin in the period compared with 47.52% a year earlier. The Company continued to lose market share in the quarter to new players in this increasingly competitive market.Outlook"While we anticipate continuing difficulty in the short term with respect to improving margins," Mr. Tong stated, "we remain optimistic that the boost being provided to independent importers like ourselves by the government's Parallel Imported Vehicle Scheme, and an improving economy in China, will lead to improved results, especially as luxury buyers return to the market. In addition, we continue to review potential new higher margin businesses and are likely as well to continue to expand our retail sales where we believe higher margins also are possible."Conference Call InvitationThe Company will discuss 2017 third quarter results during a live conference call and webcast on Wednesday, November 15th at 8:00am ET.To participate in the call, interested participants should call 1-800-239-9838 when calling within the United States or 1-323-794-2551 when calling internationally. Please ask for the Conference ID: 2890686. There will be a playback available until 11/22/17. To listen to the playback, please call 1-844-512-2921 when calling within the United States or 1-412-317-6671 when calling internationally. Use the Replay Pin Number: 2890686.This call is being webcast by ViaVid Broadcasting and can be accessed by clicking on this link: http://public.viavid.com/index.php?id=127245 at ViaVid's website at http://viavid.com.SEE ATTACHED TABLESAbout China Auto Logistics Inc.China Auto Logistics Inc. is one of China's top sellers of imported luxury vehicles. It also provides a variety of "one stop" automobile related services such as short term dealer financing.Information Regarding Forward-Looking StatementsExcept for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. CHINA AUTO LOGISTICS INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2017(Unaudited) December 31, 2016 ASSETS: Current assets: Cash and cash equivalents $5,742,988 $3,004,932 Restricted cash 9,390,254 22,703,835 Receivable related to financing services, net 54,270,503 48,549,972 Inventories 13,007,389 13,049,065 Advances to suppliers, net 69,854,476 71,921,388 Prepaid expenses 35,324 376,581 Value added tax receivable 328,778 615,555 Total current assets 152,629,712 160,221,328 Property, plant, and equipment, net 272,681 317,282 Other assets 31,647 30,329 Total assets $152,934,040 $160,568,939 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Lines of credit related to financing services $49,671,882 $47,081,763 Short term borrowings 15,778,796 12,961,389 Accounts payable 2,770,789 365,120 Notes payable to suppliers 12,021,940 25,922,779 Accrued expenses 159,173 131,128 Customer deposits 42,430,668 46,047,515 Deferred revenue 52,438 48,171 Due to former shareholder 2,041,659 1,956,625 Due to shareholder 2,248,026 - Due to director 69,950 1,550,745 Income tax payable 470,727 580,058 Total current liabilities 127,716,048 136,645,293 Equity: China Auto Logistics Inc. shareholders' equity: Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding - - Common stock, $0.001 par value, 95,000,000 shares authorized, with 4,840,394 shares issued and outstanding as of September 30, 2017 and 4,034,394 shares issued and outstanding as of December 31, 2016 4,840 4,034 Additional paid-in capital 24,679,588 22,979,734 Accumulated other comprehensive income 5,121,205 3,939,898 Accumulated deficit (4,780,364) (3,363,566)Total China Auto Logistics Inc. shareholders' equity 25,025,269 23,560,100 Noncontrolling interests 192,723 363,546 Total equity 25,217,992 23,923,646 Total liabilities and shareholders' equity $152,934,040 $160,568,939 China Auto Logistics Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2017 2016 2017 2016 Net revenue $125,231,888 $96,293,622 $374,524,571 $327,177,025 Cost of revenue 124,704,662 95,671,721 373,011,864 324,958,268 Gross profitBenzinga|
|China Auto Logistics: Investor Network: China Auto Logistics, Inc. to Host Earnings CallNEW YORK, NY / ACCESSWIRE / August 15, 2017 / China Auto Logistics, Inc. (NASDAQ: CALI) will be discussing their earnings results in their Q2 Earnings Call to be held August 15, 2017 at 8:00 AM Eas...FinanzNachrichten|
|Press Release: China Auto Logistics : China Auto Logistics Reports 2017 Second Quarter and Six Month ResultsInvestor Conference Call Scheduled for Tuesday, August 15th at 8:00am ETTIANJIN, CHINA - (NewMediaWire) - August 14, 2017 - China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles and a leading provider of auto-related services, today announced results for its second quarter and first six months ended June 30, 2017. Net revenues in the 2017 second quarter rose sharply year over year, to approximately $138 million -- a gain of approximately 48% -- mainly on the strength of increased sales of automobiles compared with relatively weak auto sales in the second quarter of 2016.The increased revenues offset by lower gross margins contributed to a narrowing of the year over year loss from continuing operations attributable to shareholders in the 2017 second quarter to $342,109 or an $0.08 loss per share, as compared with a loss of $477,875 or a $0.12 loss per share in the second quarter of 2016. Total net income attributable to shareholders in the 2016 second quarter was approximately $5.2 million or $1.28 in earnings per share, as it includes approximately $5.7 million or $1.40 per share in income from discontinued operations.In the first six months of 2017, revenues from continuing operations increased approximately 8% to approximately $249 million, while the net loss from continuing operations attributable to shareholders decreased approximately 28% to approximately $477,000, or a $0.12 loss per share. In the first six months of 2016 the loss was approximately $665,000, or a loss of $0.16 per share. Total net income attributable to shareholders in the first six months of 2016 was approximately $4.1 million, or $1.03 per share, including approximately $4.8 million, or $1.19 in earnings per share from discontinued operations.Commenting on these results, Mr. Tong Shiping, Chairman and CEO of the Company, stated: "We were pleased to see the year over year rebound in auto sales in the second quarter. However, we also clearly saw our already tight margins further impacted by the recent tax imposed on purchasers of our higher margin, high end autos which kept buyers of these autos away. We think at some point we'll see high end buyers return and, meanwhile, are continuing to fight to maintain our position as a leader in the industry."Financial Highlights for the Second Quarter ended June 30, 2017Net revenue in the 2017 second quarter increased 48% to $138,758,902 from $93,819,385 in the second quarter of 2016.The net loss from continuing operations attributable to shareholders in the 2017 second quarter improved from $477,875, or a $0.12 loss per share a year earlier, to $342,109 or a loss per share of $0.08. The net income from discontinued operations attributable to shareholders was $0 in the 2017 second quarter compared to $5,664,104 or earnings per share of $1.40 in the 2016 second quarter.Net revenues from Sales of Automobiles increased 48.63% year over year to $137,892,079 while sales volume also grew. Average unit selling prices declined, however, largely due to the impacts triggered by an additional 10% tax imposed on "super luxury cars," which typically are the most profitable autos sold by the Company.Net revenues for Financing Services in the 2017 second quarter decreased year over year 16.17% to $861,173. The decrease included a year over year decline in fee income of 37.74% to $294,188, mainly reflecting increased competition. Financial Highlights for the Six Months Ended June 30, 2017Net revenue from continuing operations in the first six months of 2017 was $249,292,683, an increase of 7.97% from $230,883,403 in the same period of 2016.As the gross profit margin in the first six months of 2017 declined to 0.40% compared with 0.69% in the year earlier period, the Company's gross profit also declined and led to a net loss from continuing operations attributable to shareholders of $477,355, or a loss of $0.12 per share. This nevertheless was a slight improvement over the prior year first half loss of $665,397 or a loss of $0.16 per share. The total net ...NewMediaWire|
|China Auto Logistics: China Auto Logistics Inc (CALI) Posts Quarterly Earnings ResultsChina Auto Logistics Inc (NASDAQ:CALI) issued its quarterly earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $110.53 million for the quarter. China Auto Logistics had a negative return on equity of 43.48% and a negative net margin of 1.00%. Shares of China Auto [...]Zolmax News|
|China Auto Logistics: China Auto Logistics Reports 2017 First Quarter Results / Investor Conference Call Scheduled for Tuesday, May 16th at 8:00am ETTIANJIN, CHINA -- (Marketwired) -- 05/15/17 -- China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles and a leading provider of au...FinanzNachrichten|
|China Auto Logistics: China Auto Logistics : CALI) Keeps Momentum Building(4-traders.com) China Auto Logistics Inc (NASDAQ: CALI) rose 25.3% to $3.57 after climbing 54.9% on Tuesday. Share volume was 4.5 million, compared to an all-day average of 78,000 Copyright © 2017 Baystreet.ca Media Corp. All rights reserved., source Standard Equities...http://www.4-traders.com/CHINA-AUTO-LOGISTICS-INC-11878057/news/China-Auto-Logistics-CALI-Keeps-Momentum-Building-24165909/4-traders|
|China Auto Logistics: China Auto Logistics Reports 2016 Full Year Results / Investor Conference Call Scheduled for Wednesday, March 29th at 8:00am EDTTIANJIN, CHINA -- (Marketwired) -- 03/28/17 -- China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles and a leading provider of au...FinanzNachrichten|
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China Auto Logistics providing automobile sales and trading service and a Web-based automobile sales and trading information. China Auto Logistics was founded in 08/2011. China Auto Logistics' headquarters is located in TIANJIN, Tianjin Municipality, CN 300461. China Auto Logistics' President & CEO, Shiping Tong, currently has an approval rating of 54%. 100% of Owler community believes the stock will go Up. China Auto Logistics has 40 employees and reported 514.1M in revenue [trailing four quarters].
Visit the China Auto Logistics website to learn more.