Yangtze River Business Daily reporter Li Jing
Keeping up with the pulse of the automobile market, Camel Co., Ltd. (601311. SH) has steadily improved its performance.
According to the annual report released by Camel Co., Ltd. a few days ago, in 2023, the company will achieve operating income of 14.079 billion yuan, a year-on-year increase of 4.87%, and net profit attributable to the parent company of 572 million yuan, a year-on-year increase of 21.79%. Based on the continuous improvement of performance, the company plans to distribute 2.7 yuan to all shareholders for every 10 shares, with a total cash dividend of 317 million yuan.
In 2023, Camel Co., Ltd. will adhere to the "two-wheel drive" strategy of green lead-acid battery platform and new energy lithium battery platform, improve the layout of the two circular industrial chains, and the main business will blossom in more places, and the market share will be comprehensively improved.
During the reporting period, the company's sales of automotive low-voltage lead-acid batteries increased by 7.45% year-on-year, further consolidating its leading position in the industry. In addition, the company's automotive low-voltage lithium battery business has increased its R&D efforts, enriched its product series, fully met market demand, and obtained 35 new project designations, and the annual sales volume of low-voltage lithium battery products increased by 27.87% year-on-year.
Visual China Diagram
Sales in overseas markets continued to grow
Listed in 2011, Camel Co., Ltd. is a comprehensive high-tech enterprise specializing in the research, development, production, sales and recycling of advanced batteries, and its main business includes automotive low-voltage battery business, recycling business and energy storage business. After more than 40 years of independent development and epitaxial mergers and acquisitions, the company has realized the layout of the whole industry chain in the field of automotive low-voltage lead-acid batteries, and has led the country in terms of scale, sales volume and market share for many years.
Camel Co., Ltd. pointed out in the annual report that in 2023, in the face of multiple pressures such as the complex domestic and foreign market environment and the spread of the price war of car companies to the supplier link, the company aims to rapidly increase sales and market share, and continuously consolidate the leading position in the automotive low-voltage lead-acid battery industry.
Financial data show that in 2023, the company's low-voltage lead-acid battery revenue will be 10.88 billion yuan, accounting for 77.28% of the overall revenue. The cumulative sales of low-voltage lead-acid batteries throughout the year were 34.6 million KVAH, a year-on-year increase of 7.45%, of which the sales of auxiliary batteries for new energy vehicles increased by nearly 45% year-on-year. The company's sales volume in the domestic host supporting market and maintenance and replacement market increased by about 2.13% and 11.7% year-on-year respectively, and the market share remained stable.
In terms of fuel vehicles, the company has achieved steady growth in sales through product upgrades and actively cooperating with OEMs to switch models, achieving mass production and supply of 51 models throughout the year, and 60 new OEM projects have been designated, including the newly designated BMW Brilliance project.
In terms of new energy vehicles, the company has obtained 18 new designated projects, and at the same time continues to pay attention to the product development and mass production of the designated projects, and has completed the mass production introduction of 9 designated projects. During the reporting period, the sales of auxiliary batteries for new energy vehicles increased by nearly 45% year-on-year.
It is worth mentioning that in 2023, Camel will further improve the organizational structure of its overseas business, and its sales volume in overseas markets will increase by about 7.7% year-on-year. During the reporting period, the company seized the opportunities of the global market, formulated the "trade +" plan around several key regions such as the Asia-Pacific, the Middle East, Africa, and Central and North Asia, comprehensively improved its service capacity and sales, developed a total of 70 new customers throughout the year, and entered the market of 17 countries, further expanding its global sales territory.
In order to accelerate the expansion of overseas markets, the company has further optimized the overall strategy of international development, and clarified the strategic objectives of the overseas host supporting market and the maintenance and replacement market. In the second half of 2023, the first phase of the company's U.S. chemical formation plant project and the second phase of the Malaysian plant will be completed and put into operation, with an annual production capacity of about 1 million KVAH and 4 million KVAH, respectively.
The further clarification of strategic objectives has made the development of overseas markets have a clearer direction and path. Camel said that the continuous improvement of business measures has been steadily promoted and implemented, which has injected new impetus into the development of the company's overseas business, and the continuous growth of industrial layout and production capacity has also laid a solid foundation for the rapid growth of sales in overseas markets in the future.
Continue to develop the low-voltage lithium battery market
In recent years, with the rapid development of the new energy vehicle industry and the energy storage industry, Camel Co., Ltd. is actively transforming to the low-voltage lithium battery business while consolidating the low-voltage lead-acid battery business.
As early as 2015, Camel Co., Ltd. established a subsidiary, Camel Group New Energy Co., Ltd., and officially entered the lithium battery industry. In 2019, the company began to make every effort to build "two major markets and three major sectors", namely domestic and foreign markets, as well as three major business segments of lead-acid batteries, recycled lead and new energy. In 2021, the company signed a strategic cooperation agreement with Three Gorges Electric Energy to officially enter the field of energy storage integrated systems.
In 2023, Camel will continue to improve its product matrix, actively carry out product development and customer docking, and continue to develop the automotive low-voltage lithium battery market. During the reporting period, the sales volume of the company's automotive low-voltage lithium battery products increased by 27.87% year-on-year, and a total of 35 projects were designated throughout the year, and the revenue of lithium batteries was 85 million yuan, a year-on-year increase of 37.95%, accounting for 0.6% of the operating income.
The production capacity layout of the low-voltage lithium battery business is also constantly improving. In July 2023, the construction of the low-carbon industrial park project in Xiangyang will start construction, and the first phase plans to build an annual output of 4 million sets of low-voltage lithium batteries and 2GWh energy storage lithium battery projects and supporting facilities, and the project is being built as planned.
In 2023, the company completed the construction and acceptance of an integrated plant, completed the development of 3.35MWh containers and 5MWh liquid-cooled container products and the layout of about 30 products in five series of household energy storage, completed the construction of the supply chain system and the formulation of a list of qualified suppliers, and continued to improve its advantages in technology development, system integration and supply chain integration, and improve its core competitiveness.
With the acceleration of new energy and other businesses, the overall performance of camel shares has also maintained stable growth. From 2021 to 2023, the company's operating income will be 12.403 billion yuan, 13.425 billion yuan, and 14.079 billion yuan respectively, striving towards the second goal of 10 billion yuan, and the net profit attributable to the parent company will also stop falling and rebound, reaching 572 million yuan in 2023, a year-on-year increase of 21.79%.
In addition, Camel Co., Ltd. adheres to technology as the core driving force, and will invest 530 million yuan in R&D in 2023, a year-on-year increase of 0.33%, accounting for 3.77% of operating income.
During the reporting period, 128 patent applications were completed for the lead-acid battery platform of Camel Co., Ltd., with a total of 108 authorized patents, and 210 patent applications were completed for the lithium battery platform, with a total of 131 authorized patents. As of the end of the reporting period, the company had 1,201 valid patents, consolidating and enhancing the company's core competitiveness. Among them, the number of effective patents owned by the lead-acid battery platform is 787, and the number of effective patents owned by the lithium battery platform is 414.
Exclusive In-Depth Recommendations:
Wang Zelong, the second generation of the rich post-90s, was fined 133 million for illegal arbitrage, and the stock price of China Nuclear Titanium Dioxide's performance roller coaster fell by 80%
Huayou Cobalt's net profit fell by 49%, the dividend rate soared to 69%, the debt was 53.6 billion, the financial expenses were 1.4 billion, and the stock price fell by 80%.
Mengniu is trapped in a 10 billion merger and acquisition crisis, and 8.95 billion goodwill is hanging to the top, and it is urgent to get out of the era of Lu Minfang to boost market value and break the situation
Behind the Chongqing gas incident, China Resources Gas became the owner a year ago, and its operating profit soared 11 times in the fourth quarter of 2023, which raised questions
26 A-share companies have zero dividends, and 45 have less than 10 million dividends
Zangge Mining's performance has declined, Xiao Yongming's criminal case has a pledge rate of more than 90%, and the stock price has fallen to the limit
Jilin Aodong's shareholding in GF Securities, the income fell by 200 million yuan annually, and the securities investment loss was 76.58 million, and it was planned to sell another 1 billion to increase the position
263 stepped on the thunder, Zhongrong Trust's 200 million financial management was overdue, 202 people were reduced in two years, and the stock price of the metaverse was up and down
Dongpeng Beverage's revenue increased by three percent, breaking 10 billion for the first time, and the dividend of 3 billion yuan in three years of listing exceeded 1.5 billion yuan
SIIC Development has inflated its income by 4.7 billion yuan for financial fraud in 6 years, and seven executives have been fined, and Cao Wenlong has been banned from the market for 10 years
Changyu A's profit of more than 500 million yuan is still at a low point in performance, the stock price fell by 70%, and it is difficult to be optimistic about the revenue of 10 billion yuan
China Nuclear Titanium Dioxide Wang Zelong was filed or involved in 600 million securities lending, the industry's prosperity was low, net profit fell twice, and UBS withdrew
Shandong Gold benefited from the net profit of the gold price increased by more than 48%, and there was no official response to the 400 million yuan involved in the "deposit runaway" incident
Da Shenlin was fined 4 million for bribery, Ke Jinlong was sentenced, nearly 1.9 billion fixed increase was blown, and the gross profit margin fell to 37%