China Automotive Systems

China Automotive Systems (CAS) owns all of the capital stock of Jilong Enterprises Investment Corp. Ltd., a Hong Kong Company ("Jilong"). Jilong in turn owns an interests in four sino-joint ventures which each manufacture power steering systems or related products for different segments of the automobile industry in China. The combined sales of the sino-joint ventures rank second in their industry sector with combined sales totaling 30% to 40% of the market share in China.

CAS companies have long-term contracts with more than forty manufactures, including the two of the largest automobile manufacturers China's No. 1 Automobile Manufactory with $10 Billion USD in sales and China's No. 2 Automobile Manufactory with $2 Billion USD in sales. Genesis also has long term contracts with the largest Van manufacturer in China, Shenyang Jinbei Co., Ltd. which has approximately $2.5 billion USD in annual sales and Fukang, a Citren invested automobile manufacturing which has approximately $1 billion USD in annual sales.

CAS currently owns two trademarks on automobile parts and several Chinese patents for power steering technology. By integrating new advanced technologies, such as electronic chips in power steering systems into its current product line, the group is pursuing aggressive strategies on the technology level to maintain a competitive edge within the automobile industry.