重庆千里科技股份有限公司 章 程（草案） （H 股发行上市后适用） 【】年【】月 第一章 总则 第一条 为维护重庆千里科技股份有限公司（以下简称"公司"）、股东、 职工和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司 法》（以下简称"《公司法》"）《中华人民共和国证券法》（以下简称"《证 券法》"）、《上市公司章程指引》《境内企业境外发行证券和上市管理试行办 法》《上海证券交易所股票上市规则》（以下简称"《上交所上市规则》"）、 《香港联合交易所有限公司证券上市规则》（以下简称"《香港上市规则》"） 和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。 公司在重庆市市场监督管理局注册登记，取得营业执照，统一社会信用代码 915000006220209463。 第三条 公司于 2010 年 11 月 4 日经中国证券监督管理委员会（以下简称"中 国证监会"）批准，首次向社会公众发行人民币普通股 2 亿股，于 2010 年 11 月 25 日在上海证券交易所（以下简称"上交所"）上市。公司发行的并于上交所 上市的股票，以下称为"A 股"。 公司于【】年【】 ...

为深化全球化战略布局，加快海外业务发展，提升公司国际化品牌形象， 进一步提升公司核心竞争力，公司目前正在筹划首次公开发行境外上市股份 （H股）并在香港联合交易所有限公司（以下简称"香港联交所"）主板上市 事项（以下简称"本次发行上市"）。公司将充分考虑股东利益和境内外资本 市场的情况，在股东会决议有效期内选择适当的时机和发行窗口完成本次发行 上市。 证券代码：601777 证券简称：千里科技 公告编号：2025-068 重庆千里科技股份有限公司 关于筹划发行 H 股股份并上市相关事项的 提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重庆千里科技股份有限公司（以下简称"公司"）于2025年9月12日召开第 六届董事会第二十五次会议，审议通过了《关于公司申请首次公开发行境外上 市股份（H股）并在香港联合交易所有限公司主板上市的议案》《关于公司申 请首次公开发行境外上市股份（H股）并在香港联合交易所有限公司主板上市 方案的议案》《关于公司申请首次公开发行境外上市股份（H股）并在香港联 合交易所有限公司主板上市募集资金投 ...

证券代码：601777 证券简称：千里科技 公告编号：2025-071 1. 基本信息 安永香港为一家根据香港法律设立的合伙制事务所，由其合伙人全资拥有。安 永香港自 1976 年起在中国香港提供审计、税务和咨询等专业服务，为众多香港上 市公司提供审计服务，包括银行、保险、证券等金融机构。安永香港自成立之日起 即为安永全球网络的成员。 2. 投资者保护能力 自 2019 年 10 月 1 日起，安永香港根据中国香港《会计及财务汇报局条例》 注册为公众利益实体核数师。此外，安永香港经中华人民共和国财政部批准取得在 中国内地临时执行审计业务许可证，并同时系美国公众公司会计监督委员会（US PCAOB）和日本金融厅（Japanese Financial Services Authority）注册从事相关审计业 务的会计师事务所。安永香港按照相关法律法规要求每年购买职业保险。 重庆千里科技股份有限公司 关于聘请 H 股发行上市审计机构的议案 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2025年9月12日，重庆千里科技股份有限公司 ...

证券代码：601777 证券简称：千里科技 公告编号：2025-069 重庆千里科技股份有限公司（以下简称"公司"）于 2025年9月12日（星期五） 召开第六届董事会第二十五次会议，审议通过了《关于变更公司英文名称暨修订<公司 章程>的议案》。具体情况如下： 公司拟将英文名称变更为"Chongqing Afari Technology Co., Ltd."，并对 《公司章程》相关条款进行如下修订： | 原条款 | | 修订后条款 | | | --- | --- | --- | --- | | 第四条 | 公司注册名称： | 公司注册名称： | 第四条 | | （中文）重庆千里科技股份有限公司 | | | （中文）重庆千里科技股份有限公司 | | （英文）Chongqing Technology | Qianli | Afari Technology | （英文）Chongqing | | Co., Ltd. | | | Co., Ltd. | 重庆千里科技股份有限公司 关于变更公司英文名称暨修订《公司章程》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的 ...

Core Viewpoint - The company, Qianli Technology (601777.SH), plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and international brand image [1] Group 1 - The board of directors will meet on September 12, 2025, to review the proposal for the initial public offering of H-shares [1] - The issuance aims to accelerate the development of overseas business and improve the company's core competitiveness [1] - The proposal requires approval from the shareholders' meeting and must complete the regulatory review process with the China Securities Regulatory Commission and the Hong Kong Stock Exchange [1] Group 2 - Specific details regarding the issuance and listing are not yet determined, indicating uncertainty in the process [1]

Core Viewpoint - The integration of intelligent driving within Geely is significantly more complex than cabin integration, with current changes being primarily structural without altering reporting relationships or office locations [1][10]. Group 1: Company Structure and Integration - Geely has initiated the integration of its intelligent driving teams into a joint venture named Chongqing Qianli Intelligent Driving, which is expected to have a workforce of around 3,000 people [1][4]. - The newly formed organizational structure includes a matrix management approach with vertical departments for system, platform, algorithm, and data development, alongside three horizontal departments [1]. - Key leadership includes Wang Jun as CEO and Chen Qi as co-CEO, with significant roles assigned to former executives from various teams [1][5]. Group 2: Team Dynamics and Challenges - The integration process has faced delays, with initial plans for a complete merger by the end of August pushed to early September, resulting in only about 2,000 personnel being integrated instead of the anticipated 3,000 [8][7]. - There is a noted lack of enthusiasm among team members from both the Zeekr and Maiqi teams regarding the merger, highlighting the challenges of aligning large teams towards a common goal in intelligent driving [9]. - The integration strategy emphasizes stability, with existing reporting structures and office locations remaining unchanged to minimize disruption [10].

Group 1 - The core viewpoint of the report is that Qianli Technology (601777.SH) is supported by dual growth drivers from its automotive and motorcycle terminal businesses, which solidify its performance foundation [1] - The technology business is expected to break through with "AI + vehicle" integration, and the scenario closure is anticipated to gradually achieve commercialization [1] Group 2 - The report highlights the potential risks associated with macroeconomic conditions not meeting expectations [1] - It also points out the risk of intelligent penetration rates falling short of projections [1] - Additionally, there are concerns regarding technological iterations not keeping pace with market demands, as well as the expansion of smart driving and Robotaxi not meeting expectations [1]

Core Insights - The company achieved revenue of 4.184 billion yuan in the first half of 2025, representing a year-on-year increase of 40.0%, and a net profit attributable to shareholders of 31.17 million yuan, up 19.0% year-on-year [1] Revenue and Profit Analysis - Revenue growth was primarily driven by increased sales in the automotive and motorcycle segments [1] - The net profit attributable to shareholders decreased significantly to -130 million yuan after deducting non-recurring items, a decline of 903.9% year-on-year, indicating that the core business profitability still needs improvement [1] - The company received 170 million yuan in government subsidies and 30 million yuan from the disposal of long-term equity investments, contributing to non-recurring gains of 160 million yuan [1] - Gross margin was 8.3%, down 0.33 percentage points year-on-year, affected by product mix [1] - R&D expenses increased by 59.7% to 290 million yuan, accounting for 6.9% of revenue, while sales expenses decreased by 21.2% [1] - The company reported a strong cash flow performance with net cash flow from operating activities of 1.32 billion yuan, up 396.3% year-on-year [1] Business Segments - The automotive and motorcycle segments are the core support for stable performance, with the automotive sector focusing on integrated charging and swapping capabilities [2] - The automotive segment has established deep ties with B-end operational markets like Cao Cao Mobility, ensuring base sales, and is accelerating international market expansion, particularly in Europe and Indonesia [2] - The motorcycle segment emphasizes international expansion, with export business becoming a major growth driver, covering 87 countries and entering emerging markets like Brazil and Egypt [2] - Technological upgrades are being pursued, including hybrid power solutions and advanced driver assistance systems, enhancing product competitiveness [2] Technology Initiatives - The company is focusing on "AI + vehicle" integration, aiming to commercialize its technology business [3] - In the intelligent driving sector, the company released the "Qianli Zhijia 1.0" system, with plans for L3 and L4 level solutions in the near future [3] - The company is leveraging its AI capabilities to develop next-generation smart cockpit products, enhancing market competitiveness [3] - A joint venture named "Qianli Zhijia" has been established to integrate resources and promote Robotaxi commercialization, with plans for L4 level customized vehicles by the end of 2026 [3] Valuation and Investment Outlook - The company is compared with five peers in the motorcycle, passenger vehicle, and intelligent driving sectors, with an average PS ratio of 1.3X for comparable companies [4] - The transition towards an "AI + vehicle" technology platform is expected to be a core growth driver, with a reference PS ratio of 23.04X for intelligent driving peers [4] - The deep integration with Geely's automotive ecosystem and advancements in intelligent driving and cockpit technology are anticipated to accelerate growth [4]

Market Performance - The motorcycle and other sectors increased by 2.61% on September 5, with Huafang Racing leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Stock Performance - Huafang Racing (834058) saw a significant rise of 29.98%, closing at 48.52 with a trading volume of 68,000 shares and a turnover of 327 million yuan [1] - Taotao Vehicle (301345) increased by 8.22%, closing at 199.50 with a trading volume of 26,200 shares and a turnover of 514 million yuan [1] - Other notable performers include Jiang Kui General (603766) up 5.05%, Yong'an Xing (603776) up 4.38%, and Lvtong Technology (301322) up 3.59% [1] Capital Flow - The motorcycle and other sectors experienced a net inflow of 124 million yuan from main funds, while retail funds saw a net outflow of 106 million yuan [1] - Specific stocks like Aima Technology (603529) had a main fund net inflow of 56.95 million yuan, while retail funds showed a net outflow of 27.17 million yuan [2] - Jiang Xin General (603766) also had a main fund net inflow of 27.81 million yuan, with retail funds experiencing a net outflow of 17.87 million yuan [2]

Market Overview - On September 4, the motorcycle and other sectors fell by 1.57%, with Qianli Technology leading the decline [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Notable gainers in the motorcycle sector included Huayang Racing, which rose by 5.30% to a closing price of 37.33, and Xinlong Health, which increased by 2.44% to 7.13 [1] - Conversely, Qianjiang Motorcycle saw a slight decline of 0.06%, closing at 16.88 [2] Capital Flow - The motorcycle and other sectors experienced a net outflow of 255 million yuan from main funds, while retail investors saw a net inflow of 218 million yuan [2] - The data indicates that speculative funds had a net inflow of 37.15 million yuan [2] Individual Stock Capital Flow - Longxin General experienced a main fund net outflow of 21.21 million yuan, while Zhenghe Industrial had a net inflow of 9.86 million yuan [3] - Qianjiang Motorcycle had a net outflow of 561,600 yuan from main funds, but retail investors contributed a net inflow of 137,030 yuan [3]