The Huaxi Securities Research Report pointed out that Camel's performance was under pressure in the short term, and the new business was progressing steadily. Net profit for the first three quarters was $354 million, or -42.81% YoY; of these, Q3 net profit to mother was 74 million yuan, -14.61% YoY. The globalization strategy is progressing steadily, and mass production of targeted projects has been implemented. Channel construction improved quality and increased, sales in Malaysia and Indonesia increased by about 30% and 60% respectively, and 21 new customers were developed in other regions, covering 8 new countries. The company actively lays out next-generation battery technology and emerging application scenarios to reserve new momentum for long-term development. The company's main lead-acid business is stable, and the low-voltage lithium battery business has entered a rapid growth channel. Maintain an “Overweight” rating.

The Huaxi Securities Research Report pointed out that Camel's performance was under pressure in the short term, and the new business was progressing steadily. Net profit for the first three quarters was $354 million, or -42.81% YoY; of these, Q3 net profit to mother was 74 million yuan, -14.61% YoY. The globalization strategy is progressing steadily, and mass production of targeted projects has been implemented. Channel construction improved quality and increased, sales in Malaysia and Indonesia increased by about 30% and 60% respectively, and 21 new customers were developed in other regions, covering 8 new countries. The company actively lays out next-generation battery technology and emerging application scenarios to reserve new momentum for long-term development. The company's main lead-acid business is stable, and the low-voltage lithium battery business has entered a rapid growth channel. Maintain an “Overweight” rating.