·Camel shares expand electric vehicle power battery business

Recently, Camel Group Co., Ltd. (stock code: 601311, referred to as Camel shares) announced that according to its strategic plan, in order to further improve the market share and competitive advantage of Camel shares, on March 18, Camel shares and Jiyuan City Wanyang Smelting (Group) Co., Ltd. (referred to as Wanyang Company) signed a cooperation agreement and plans to jointly invest in the establishment of a company called “Henan Jiyuan New Energy Battery Technology Co., Ltd.”, which is mainly engaged in the development of lead-acid battery for pure electric vehicles. Production, sales, recycling of used batteries and other services. The initial registered capital of the new company is 30 million yuan. Camel shares are invested by its trademark, technology and capital, accounting for 51% of the registered capital of the new company. Wanyang Company is funded by currency, accounting for 49% of the registered capital of the new company.

It is reported that Wanyang Company, which is jointly funded by Camel Co., mainly engages in crude lead smelting, electrolytic lead and sulfuric acid processing and sales; waste lead slag and waste battery recycling services (limited to branch operations); road transportation; operating its own products and The export business of related technologies, the import business of raw and auxiliary products, mechanical equipment, instrumentation, spare parts and related technologies required for the production of scientific research. Data show that as of December 31, 2014, Wanyang's total assets were 5.72 billion yuan. In 2014, it achieved operating income of 10.86 billion yuan and profit of 166 million yuan.

At present, Camel's main business is in the field of automotive starter batteries. It has 12 subsidiaries and more than ten world-class battery-expanding, continuous casting and rolling production lines and advanced production technology. It mainly produces lead-acid batteries for automobiles. Pure lead thin plate batteries, power ion batteries, etc., a wide range of products, such as automobiles, agricultural vehicles, ships, forklifts, electric vehicles and industry. If the investment is implemented smoothly, Camel will expand its lead-acid battery for pure electric vehicles, which will be an effective supplement to its existing battery business. It will further expand the business scope of Camel shares in the battery market and enrich its business. Product type to achieve new profit growth.

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