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5. Camel Group Co., Ltd. Business Report FY ended Dec. 2021

Camel Group Co., Ltd. Business Report FY ended Dec. 2021

Automobile related business

1. Low-voltage lead-acid battery business for automobiles
-In 2021, the company's production of low-voltage lead-acid batteries for automobiles reached 32.58 million kVAh, up 16.42% year-over-year (y/y), and annual cumulative quantity of batteries sold increased 12.17% y/y to 31.52 million kVAh. Export sales increased 123% y/y, and orders were received from Proton and FCA (Stellantis).

2.Low-voltage lithium battery business for automobiles
-Mainly promotes business for 12V / 24V / 48V low voltage system, and won orders for 11 projects of 9 companies in total. Of these, 12V auxiliary battery products meet the technical requirements of Daimler, BMW, Geely and Chrysler (Stellantis).

3.Battery recycling business
-Performed pilot operation for recycling waste lead-acid batteries. Crushing and processing capacity increased by 73.3% from the previous year to about 600,000 tons per year.

-A medium-scale line for lithium battery recycling and a power lithium battery recycling plant are under construction.

Order

1.Low-voltage lead-acid battery business for automobiles
-In 2021, the company carried out production and model change support for 37 projects, and supplied starter batteries to GAC passenger cars. In addition, exclusive supply has been realized for eight models of Changan Mazda, Chery Automobile, FAW Hongqi, and DFSK. In addition, the company supplied eight models including FAW, SAIC Volkswagen and Audi, as well as new energy auxiliary batteries for Lincoln Nautilus and Lincoln Aviator.
-The company has received orders for 53 projects, including FAW Jiefang, Dongfeng Honda, Changan Automobile, GAC Mitsubishi, and Geely's new projects.

-Development of a total of 19 low-voltage battery projects for New Energy Vehicles: Low-voltage battery projects for electric vehicles for OEMs such as SAIC-VW, FAW-VW, Beijing Hyundai, Changan Automobile, and DFSK; low-voltage battery projects for four new energy vehicle manufacturers including Meituan Auto, Baidu Auto, and Leap Motor; low-voltage battery projects for hydrogen energy commercial vehicle companies; and low-voltage battery projects for New Energy Vehicles for OEMs such as SAIC, FAW, Audi and Cadillac. Sales of low-voltage batteries for New Energy Vehicles increased by 258.4% y/y.

2. Low-voltage lithium battery business for automobiles
-In 2021, the company received orders for 11 projects from 9 companies, of which the cumulative sales of 48V lithium start-stop batteries were 10,700 units. Two new customers were acquired: BAIC Off-Road and Zhengzhou Nissan. The company received orders for three projects from Sany Heavy Industry, Shaanxi Heavy Duty Automobile and Sinotruk. Regarding 12V lithium batteries, 6 projects were acquired from Geely Lotus, Geely CM1E, Isuzu Engine (Jiangxi), and BMW.

-The company announced that its subsidiary Camel Group Battery Trading Co., Ltd. recently received a notice from Germany’s BMW Group (BMW) in which the subsidiary has been designated as a supplier of 12V auxiliary lithium battery systems for BMW. The project covers a period of 7 years, and is expected to realize mass production in 2025. It is estimated that 3.4 to 4.7 million sets will be sold during the entire period. (From a press release dated January 25, 2022) 

Product development trends

1. Low-voltage lead-acid battery business for automobiles
-The company is promoting product upgrade development for products such as AGM (Absorbed Glass Mat) and EFB (Enhanced Flooded Battery) start / stop batteries and parking air conditioner batteries. EFB products have passed the BMG certification of Volkswagen in Germany, and AGM products have passed the tests of the FCA American Laboratory. The company provides technical support for AGM parking air conditioner series products for customers including FAW Jiefang and Daimler. In addition, new technologies will be introduced to improve the battery performance of parking air conditioners.

2. Low-voltage lithium battery business for automobiles
-In 2021, the company completed the design and manufacture of eight types of 12V lithium battery products. It developed an upgraded 48V lithium battery product. The company applied for 207 patents covering products such as lithium-ion batteries, lithium iron phosphate cathode materials, and battery management systems. In addition, the company participated in the formulation of the following four industrial standards: "12V / 24V lithium-ion battery system for vehicles standard ", "12V vehicle start / stop lithium-ion battery system standard", "12V / 24V auxiliary lithium-ion battery system for vehicles standard ", "Low-voltage lithium-ion battery BMS for vehicles standard ".

3. Battery recycling business
-Regarding the recycling of lithium batteries, after developing technologies such as lithium iron phosphate recycling, synthesis technology, and test methods, the company participated in the formulation and revision of one national standard and two industry standards.

-As of the end of 2021, the company had 1,066 R&D staff, accounting for 15.09% of the total number of employees.

R&D Structure

Patent

-In 2021, the Company had 882 registered property rights, including 97 invention patents, 738 utility model patents, and 47 appearance patents.