Core Viewpoint - The lead-acid battery recycling industry in China is rapidly growing, driven by the "dual carbon" goals, with a projected recycling volume of 4.758 million tons by 2025, despite a slight decline in market scale due to falling recycling prices [1][9]. Overview - Waste lead-acid batteries are classified as hazardous waste, and their recycling involves a series of regulated processes to extract valuable materials like lead, plastic, and sulfuric acid, aiming for resource recycling and environmental protection [2][3]. Market Policy - The Chinese government has implemented various policies to support the recycling industry, emphasizing environmental protection and resource sustainability, which creates a favorable policy environment for the lead-acid battery recycling sector [4][5]. Industry Chain - The lead-acid battery recycling industry in China has established a closed-loop industry chain, focusing on upstream supply, midstream processing, and downstream resource application, with a trend towards intensive, resource-efficient, and green development [6][7]. Current Development - The recycling technology for lead-acid batteries has continuously evolved, achieving high maturity and resource utilization rates, with a significant and stable demand for scrap batteries driven by various applications in automotive, communication, and energy sectors [9]. Competitive Landscape - The lead-acid battery recycling industry is undergoing structural changes, with increasing compliance requirements and a concentration of market players. As of 2025, there are 2,210 companies in the industry, with no new entrants, indicating a trend towards consolidation and the exit of non-compliant operators [10][11]. Industry Representative Companies - Major players in the industry include South Power, Camel Group, and Yuguang Gold Lead, with significant processing capacities, such as South Power's 1.2 million tons and Camel Group's 860,000 tons per year [10][11]. Development Trends - The industry is expected to see increased regulatory scrutiny, pushing for compliance and standardization, while technological innovations will enhance recycling efficiency and environmental performance. The market will likely consolidate around leading companies, with smaller firms either exiting or becoming service providers [12][13][14].

Core Viewpoint - Camel Group Co., Ltd. has shown a mixed performance in terms of financing and stockholder dynamics, with a notable increase in revenue and net profit year-on-year, indicating potential growth opportunities in the automotive battery and recycling sectors [1][2]. Financing Summary - On January 30, Camel Group's financing buy amounted to 24.11 million yuan, while financing repayment was 25.39 million yuan, resulting in a net financing outflow of 1.28 million yuan [1]. - The total financing and securities balance reached 609 million yuan, accounting for 5.47% of the circulating market value, which is above the 60th percentile of the past year [1]. - The company had a low short-selling balance of 500,000 yuan, with a short-selling volume of 53,000 shares, indicating a lower level of short interest compared to the past year [1]. Operational Performance - For the period from January to September 2025, Camel Group reported a revenue of 12.142 billion yuan, reflecting a year-on-year growth of 7.14%, and a net profit attributable to shareholders of 619 million yuan, which is a 26.95% increase year-on-year [2]. - The company's main business revenue composition includes low-voltage lead-acid batteries (79.06%), recycled lead (14.65%), lithium batteries (4.41%), and others (1.88%) [1]. Shareholder Dynamics - As of September 30, 2025, the number of shareholders increased to 71,600, up by 38.00%, while the average circulating shares per person decreased by 27.54% to 16,391 shares [2]. - Notable changes in institutional holdings include Hong Kong Central Clearing Limited as the seventh largest shareholder with 15.4619 million shares, down by 6.5137 million shares from the previous period, and the South China CSI 1000 ETF entering as the tenth largest shareholder with 6.4427 million shares [2].

证券日报网讯1月29日，骆驼股份（601311）在互动平台回答投资者提问时表示，公司高度重视市值管 理工作，已建立系统化机制，发布《未来三年(2025-2027年)股东回报规划》及《2025年度"提质增效重 回报"行动方案》，通过稳健经营、持续分红、股权激励、回购等多渠道夯实长期价值；同时建立多渠 道价格联动机制应对原材料波动，并持续拓展新电源业务巩固竞争优势。 ...

证券日报网讯 1月29日，骆驼股份（601311）在互动平台回答投资者提问时表示，公司以铅酸锂电双循 环战略为核心，不断完善绿色可持续的循环经济产业。受行业竞争加剧，废旧电池原材料采购成本上升 等因素影响，公司通过调整产销节奏、优化工艺、聚焦高附加值产品等举措，提升综合效能。2025年上 半年，公司实现铅及铅产品产量24.5万吨；实现废旧锂电池采购3262吨，再生材料销售1424吨。 ...

春潮涌动归乡路，伴随2026年春节假期延长政策落地，2026年春运大幕将于2月初正式拉开，为期40天 的春运周期承载着亿万家庭的团圆期盼，自驾返乡作为出行首选的趋势持续升温，预计将再度刷新春运 自驾流量历史峰值。据交通运输部门权威研判，本年度全国跨区域人员流动量将再创历史新高，高速公 路总流量有望突破8600万辆次，自驾规模高达71.7亿人次，春运自驾热潮已然成型。 自驾出行成为春运绝对主力的背后，是车辆全工况负荷的极致考验。从都市通勤的日常启停，到跨省返 乡的千里奔袭，春运期间车辆运行强度、启停频率及连续使用时长均攀升至全年峰值，这对整车核心零 部件的可靠性与稳定性提出了严苛要求，而汽车蓄电池作为整车启动、电子系统供电的核心单元，更是 维系出行安全的"命脉部件"。在春运高强度工况下的性能差异尤为显著。 所谓启停电池，是专为配备发动机自动启停系统的车辆设计的储能设备，其核心优势在于能够承受高频 次启停循环带来的电流冲击，同时为车载电子设备提供持续稳定的供电。目前市面上主流启停电池主要 分为AGM(吸附式玻璃纤维隔板)电池与EFB(增强型富液式)电池两类，其中AGM电池凭借更优异的密封 性能、循环寿命及深充放电 ...

Core Viewpoint - The company is actively promoting transformation and upgrading in the fields of new energy and internationalization, while establishing a multi-dimensional proactive risk management mechanism to mitigate risks from foreign exchange fluctuations [1] Group 1: Company Strategy - The company is focusing on the transformation and upgrading in new energy and internationalization [1] - A multi-dimensional proactive risk management mechanism has been established to manage risks effectively [1] Group 2: Financial Position - As of the end of RIMAC's 2022 financing activities, the company's shareholding ratio is approximately 6% [1]

Group 1 - The core viewpoint of the article highlights that Luotuos Co., Ltd. (601311.SH) has established a comprehensive business system for research, manufacturing, sales, and services through overseas bases, indicating a strong international presence [1] - The company’s operations have expanded to cover over 100 countries and regions, showcasing its global reach and market penetration [1]

Group 1 - The core viewpoint of the article is that the company, Camel Group (601311.SH), has established a comprehensive business system that includes research and development, manufacturing, sales, and services through its overseas bases [1] - The company's operations have expanded to cover over 100 countries and regions [1]

Core Viewpoint - The company anticipates that by the first half of 2025, overseas revenue will account for 18% of total revenue, primarily driven by localized manufacturing and sales systems established in overseas bases [2] Group 1: Revenue and Business Strategy - The company is actively following new technologies and trends, including solid-state batteries, while maintaining a cautious approach to ensure the stability of its existing business [2] - The company plans to steadily advance its new power business, aligning with industry developments and market demands for timely application of relevant results [2] Group 2: Market Management - The company is executing its market value management according to its established strategy and disclosed plans [2]

Core Viewpoint - The company is focusing on its main business and has made significant progress in strategic transformation and new business development, particularly in the low-pressure lithium battery sector and overseas markets [2] Group 1: Business Development - The company is currently constructing major projects, including the first phase of the new energy low-carbon industrial park, with more details to be disclosed in the 2025 semi-annual report [2] - The low-pressure lithium battery business is experiencing rapid growth, having secured project designations from several mainstream automotive companies [2] - The company is actively expanding its overseas business, demonstrating significant synergy effects [2] Group 2: Product Innovation - The company has systematically laid out new power products, completing technical reserves for power supplies for low-altitude flying vehicles, low-pressure sodium batteries, small power sources, and small energy storage systems [2] - The company is extending its product applications to new scenarios in a timely manner [2] Group 3: Strategic Focus - The management is driving enterprise value enhancement through stable operational performance, aiming to create long-term and sustainable value returns for all shareholders [2] - The company is promoting industrial upgrades through strategic focus and is actively leveraging new technologies to accelerate its transformation into a comprehensive energy solution provider [2] - The company is committed to practicing a green, sustainable, and high-quality development approach [2]