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Risk warning: the prosperity of the real estate market has declined; Risk of exchange rate fluctuation; Risk of raw material price fluctuation; Sales of new products fell short of expectations.The competition pattern of zinc-manganese battery is mature and stable,The downstream demand potential of zinc-manganese battery is great in the future, and it will grow moderately in the future. According to the data of Zhiyanzhan Industrial Research Institute, the dry battery market in China increased from 45.68 billion yuan in 2018 to 60.01 billion yuan in 2022, with a CAGR of 7.1%, maintaining a steady growth trend. With the moderate growth of the downstream electric toy market of zinc-manganese batteries, the iteration of household appliances renewal and the increase of household medical equipment brought about by aging, the future demand of zinc-manganese batteries will be stable or will increase moderately.

Zhou Du research focus: research on zinc-manganese battery industryRisk warning: the prosperity of the real estate market has declined; Risk of exchange rate fluctuation; Risk of raw material price fluctuation; Sales of new products fell short of expectations.Risk warning: the prosperity of the real estate market has declined; Risk of exchange rate fluctuation; Risk of raw material price fluctuation; Sales of new products fell short of expectations.

Risk warning: the prosperity of the real estate market has declined; Risk of exchange rate fluctuation; Risk of raw material price fluctuation; Sales of new products fell short of expectations.Zhou Du research focus: research on zinc-manganese battery industryZhou Du research focus: research on zinc-manganese battery industry