Camry Packaging's Control Change Triggers Limit-Up; Valuation and Regulation Are Key Focus Areas

On December 17, 2025 at 17:15 (UTC+8), limit-up pool data from tushare_zt_pool showed Camry Packaging appeared on the limit-up list with a one-word limit-up at 5.02 yuan on its resumption day, with trading volume only 4.98 million shares—less than a quarter of the daily average of 20.12 million shares, reflecting rapid capital sealing on the resumption day but limited turnover [0]. On the evening of December 16, the company announced that Zhuoyue Hongzhi would take a combined 29.9% +25% stake via a 4.45 yuan/share agreement plus tender offer, with a total consideration of approximately 2.282 billion yuan. The original controlling shareholder cooperated in pre-accepting the offer and simultaneously committed to no less than 120 million yuan in net profit attributable to the parent company from 2026 to 2030, providing institutional guarantees for the completion of the transaction and serving as a short-term catalyst [1][2][3].

Yu Hao, founder of Dreame Technology, has a background in aerospace and high-speed digital motor training. His affiliated enterprises have applied for over 6,300 patents and made the Hurun Rich List in 2024; his tech gene is viewed by the market as a potential catalyst for traditional packaging enterprises to upgrade to intelligent manufacturing [4][5][6]. Additionally, the market generally expects Dreame’s motion control and algorithm capabilities to be implemented in packaging equipment automation and intelligence to address efficiency demands amid performance decline [2][3][7].

Although the price after resumption has risen by over 37% compared to the pre-suspension price of 3.65 yuan in November, the daily trading volume is still far lower than the 110-130 million shares during the active period before suspension. The KDJ J-value exceeds 100 and Beta is only 0.29, indicating short-term overbought and compressed market volatility. 4.49 yuan and 4.15 yuan are recent strong supports respectively, and 5.16 yuan is the technical upper target. Trend continuation needs to be confirmed by the recovery of trading volume [0].

Market sentiment is slightly optimistic driven by the story of “tech leader taking control + control change”, but it also reflects caution about the decline in revenue and net profit attributable to the parent company in the first three quarters of 2025, the 31.9x valuation, and the controversy over Dreame Technology’s own expansion. Therefore, investors need to continuously observe whether the regulatory process and integration plan are fulfilled to verify the rationality of the story [2][3][7][8].

1. The control handover is accompanied by multiple rounds of tender offers and major shareholders’ pre-acceptance arrangements, which have strengthened confidence in the short term, but the smooth completion of the transaction will determine the sustainability of capital enthusiasm. The net profit commitment from 2026 to 2030 is the core of quality locking [1][2][3].
2. Dreame Technology’s technical accumulation and founder’s influence bring a “tech + manufacturing” combination to the packaging industry. If it can be quickly implemented in automated equipment and digital supply chains, it can form new momentum for the traditional low-frequency industry, but cross-border integration and high-intensity expansion bring talent and execution risks that cannot be ignored [4][5][6][7].
3. The compressed trading volume and high valuation after resumption constitute triggers for short-term adjustments. Regulatory review and tender offer progress are leading variables that determine whether capital will return [0][3].

• Risks
  : Short-term technical indicators are overbought, trading volume is shrinking, and the profit in the first three quarters of this year has decreased by nearly 50% year-on-year, meaning that if capital withdraws, the correction amplitude will be amplified [0][2]. If there are obstacles in antitrust and Shenzhen Stock Exchange review, the execution difficulty of the limit-up story will increase [3]. Dreame Technology has been disclosed to have internal overtime and executive turnover disputes in cross-border expansion. If resources are scattered, the transformation progress of Camry Packaging may be limited [7].
• Opportunities
  : If the transaction is completed as planned and performance commitments are fulfilled, the control change will bring a tech upgrade impetus to Camry Packaging. Dreame’s patent and algorithm capabilities can provide differentiated advantages for packaging equipment intelligence [1][2][4][5][6]. In the short term, if the trend can be confirmed through volume turnover, there is still further testing opportunity above 5.16 yuan [0].

The event occurred at 17:15 (UTC+8) on December 17, 2025. The limit-up pool data recorded by tushare_zt_pool reflects that the market has given initial recognition to the entry of the Dreame Technology system, but trading volume and technical indicators suggest correction risks. Regulatory and tender offer progress will determine the medium-term direction. This article aims to present facts and relevant risk/opportunity points for strategy discussion reference, not investment advice [0][1][2][3].