Camel Group Co., Ltd. Business Report FY ended Dec. 2020
Financial Overview |
(in million yuan) |
| FY ended Dec. 31, 2020 | FY ended Dec. 31, 2019 | Rate of Change (%) | Factors | |
| Sales | 9,639.82 | 9,023.4 | 6.83 |
-Despite the harsh impact of the new coronavirus in the first quarter, sales began to recover in the second quarter and increased year on year. |
| Operating income | 830.94 | 650.00 | 27.84 | |
| Ordinary income | 821.26 | 639.8 | 28.36 | |
| Net income | 721.82 | 604.3 | 19.46 |
China Domestic Market
-Focused on developing products for the high-end, passenger-car and commercial-vehicle market, the Company delivers products to high-end OEMs such as FAW Audi, Lincoln, Honda, SAIC GM, Mazda, and Foton Daimler. The growth rate in start-stop batteries for passenger cars continued to remain high. In the commercial-vehicle market, the Company expanded its production capacity of batteries for parking air conditioners and supplied them to FAW Liberation, Liuzhou Commercial Vehicles, Sanichi Group, Jianghuai Automobile, Beiqi Foton, and China National Heavy Duty Truck.
Non-Chinese Markets
-In the fiscal year that ended in December 2020, the Company increased its sales outside China and acquired 29 new export destinations. North America accounted for 45% of sales generated outside of China.
Order
The company's market share of lead-acid starter batteries in China is 48%. In FY12/20, six new models were mass-produced and the company began supplying more than 20 new models, resulting in a 16.4% YoY increase in OEM sales.
Product Development Trends
-In March 2020, to meet the demand for low-voltage auxiliary batteries in the new energy vehicle market, the company began selling new energy vehicle auxiliary batteries with high energy density, fast charging speed, and high depth of discharge. The size of the battery can be changed according to the specifications of the new energy vehicle, and the formulation and hardening process of the electrode plates are optimized to improve the cycle life and the charging speed of the auxiliary battery. (From the release dated March 23, 2020)
Plant Construction
-Camel & Rimac New Energy Technology Co., Ltd. has completed the first phase of construction of its joint venture with Rimac Automobili in Croatia. Ltd. has completed the first phase of construction, with an annual production capacity of 50,000 sets of drive systems. (From Annual Report 2020)
R&D Expenditure |
(CNY millions) |
| FY ended Dec. 31, 2020 (CNY millions) |
FY ended Dec. 31, 2019 (CNY millions) |
FY ended Dec. 31, 2018 (CNY millions) |
|
| R&D Expenditure | 390.51 | 573.9 | 382.8 |
| Ratio of R&D expenses to operating income | 4.05 | 6.4 | 4.2 |
-As of the end of 2020, the Company had 956 R&D staff, accounting for 13.84 % of the total number of employees.
R&D Structure
| Name | Main business | Location | Year established | Shareholding ratio |
| Camel Group Battery Research Institute Co., Ltd. | Development and production of technology for new energy-powered lithium-ion batteries, etc. | Xiangfan, Hubei |
2004 | 100% |
| Camel Group Wuhan Guanggu R&D Center Co., Ltd. | R&D, trial production of lithium batteries, fuel cells, new batteries, materials and energy storage-batteries | Wuhan, Hubei |
2016 | 100% |
Patent
-In 2020, the Company had 719 registered property rights, including 82 patents on inventions, 595 utility model patents, and 42 appearance patents. In the field of new energy, it was granted 110 patents while the status of 111 other applications was still patent pending.