Market Overview - The motorcycle and other sectors experienced a decline of 2.53% on October 13, with Chuanfeng Power leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - Notable gainers included: - Jiangui General (603766) with a closing price of 13.36, up 6.12% [1] - Zhenghe Industrial (003033) at 68.30, up 4.20% [1] - Significant decliners included: - Chuanfeng Power (603129) at 251.45, down 5.99% [2] - Qianli Technology (601777) at 11.32, down 4.15% [2] Trading Volume and Capital Flow - The motorcycle and other sectors saw a net outflow of 168 million yuan from main funds, while retail investors had a net inflow of 83.48 million yuan [2] - The trading volume for notable stocks included: - Jiangui General with a transaction amount of 1.07 billion yuan [1] - Qianjiang Motorcycle (000913) with a transaction amount of 149 million yuan [2] Capital Inflow Analysis - Main funds showed a net outflow in several stocks, including: - Longxin General (603766) with a net outflow of 40.64 million yuan [3] - Zhonglu Co. (600818) with a net outflow of 3.80 million yuan [3] - Retail investors showed a net inflow in stocks like: - Longxin General with a net inflow of 1.06 million yuan [3] - Qianjiang Motorcycle with a net inflow of 0.14 million yuan [3]

Core Insights - The event "AI Chongqing Smart Driving Night" on September 28 marked a significant milestone for Qianli Technology, showcasing its strategic entry into the AI automotive sector within a year [2] - The launch of the new brand "AFARI" represents Qianli's commitment to becoming a platform-level AI provider in the smart automotive industry [3][5] - The integration of AI technology into the automotive industry is positioned as a core variable for industry transformation, rather than just an additional feature [5][6] Brand Renewal - The new brand "AFARI" symbolizes Qianli's identity as an "AI technology faction," with each letter representing a strategic vision: A for AI, FAR for long-distance vision, and I for intelligence [3][5] - The branding emphasizes a deep connection between brand identity and technological capabilities, aiming to reshape perceptions of AI from being cold and mechanical to being human-centric [5] - The "Afari Plan" outlines a three-part platform blueprint that includes an AI brain, a unified operating system, and a super intelligent assistant, extending AI applications across various sectors [5][6] Technical Validation - The "8D Magic City" testing ground in Chongqing serves as a rigorous validation site for Qianli's AI driving technology, demonstrating its capability to handle complex driving scenarios [6][8] - The successful navigation of challenging environments in Chongqing showcases the advanced decision-making capabilities of Qianli's AI systems, which learn from real-world conditions rather than relying on pre-set rules [6][8] - Qianli's rapid development and deployment of technology are attributed to strategic timing and support from Geely in manufacturing and supply chain [6][8] Ecological Resonance - The collaboration with three automotive companies (Changan, Geely, and Seres) and the strategic investment from Mercedes-Benz highlights the emerging ecosystem for platform-level AI in the automotive sector [8][10] - The synergy between Qianli's AI technology and local automotive resources is expected to lower R&D costs and enhance the integration of smart technologies across the industry [10] - Qianli aims to position itself as a connector in the automotive ecosystem, promoting open collaboration rather than pursuing a monopolistic approach [10]

重庆千里科技股份有限公司 2025 年员工持股计划的 法律意见书 北京市环球律师事务所上海分所 关于重庆千里科技股份有限公司 2025 年员工持股计划的 法律意见书 北京市环球律师事务所上海分所 关于 本所律师依据本法律意见书出具日为止中国现行或当时有效的法律、法规 和规范性文件，以及对公司本次员工持股计划所涉及的有关事实的了解发表法 律意见。本所律师为出具本法律意见书特作如下声明： 1. 本法律意见书是根据本法律意见书出具之日以前已经发生或已经存在的 有关事实和所适用且当时有效的中国法律、法规和规范性文件，并且是基于本 所对有关事实的了解和对有关法律、法规和规范性文件的理解作出的，对于出 具本法律意见书至关重要而无法得到独立证据支持的事实，本所依赖于有关政 府部门、公司或者其他有关单位出具的证明文件和口头确认； 2. 本所及本所律师根据《证券法》《律师事务所从事证券法律业务管理办法》 《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日以 1 前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、 完整，所 ...

证券简称：千里科技 证券代码：601777 之 独立财务顾问报告 上海荣正企业咨询服务（集团）股份有限公司 关于 2025 年 10 月 重庆千里科技股份有限公司 2025年员工持股计划（草案） | | | | （二）咨询方式 11 | | --- | 一、释义 注：本报告中若出现合计数与各加数之和尾数不符的情况，系四舍五入所致。 3 本独立财务顾问对本报告特作如下声明： （一）本报告所依据的文件、材料由千里科技提供，本持股计划所涉及的各 方已向独立财务顾问保证：所提供的出具本报告所依据的所有文件和材料合法、 真实、准确、完整、及时，不存在虚假记载、误导性陈述或重大遗漏，并对其合 法性、真实性、准确性、完整性、及时性负责。本独立财务顾问不承担由此引起 的任何风险责任。 （二）本独立财务顾问仅就本持股计划对千里科技股东是否公平、合理，对 股东的权益和上市公司持续经营的影响发表意见，不构成对千里科技的任何投资 建议，对投资者依据本报告所做出的任何投资决策而可能产生的风险，本独立财 务顾问均不承担责任。 （三）本独立财务顾问未委托和授权任何其它机构和个人提供未在本报告中 列载的信息和对本报告做任何解释或者说明。 （ ...

Core Insights - Qianli Technology has announced its new brand name "AFARI" and plans to scale Robotaxi operations in 10 cities globally within 18 months, deploying over 1,000 Robotaxis in each city [1] - The company aims to enhance its intelligent driving systems, targeting a model complexity of 80%-90% within the next six months, leveraging a vision-centric approach [2][3] - Qianli Technology is collaborating with Geely to develop Robotaxi models and is focusing on international expansion, with Mercedes-Benz becoming a significant shareholder [4] Group 1: Company Overview - Qianli Technology, formerly known as Lifan Technology, underwent restructuring and is now fully controlled by Geely Holding [1] - The company operates in three main business segments: intelligent driving, smart cockpit, and Robotaxi services [1] Group 2: Technology and Development - The integrated team at Qianli Technology has nearly 2,000 members and is working on solutions ranging from L2+ to L4 levels of autonomous driving [2] - The company plans to utilize a unified technology framework across L2+ to L4 to ensure data reuse and a viable business model [3] Group 3: Market Strategy - Qianli Technology emphasizes the importance of international expansion to increase market share, aiming for a significant presence in the global market [4] - The partnership with Mercedes-Benz, which recently acquired a 3% stake in Qianli Technology, is expected to enhance its market position [4] Group 4: Financial Performance - In the first half of the year, Qianli Technology reported revenues of 4.184 billion yuan, a year-on-year increase of 40.04%, but still posted a net loss of 134 million yuan [5]

Core Viewpoint - The establishment of Qianli Intelligent Connected (Chengdu) Technology Co., Ltd. signifies a strategic move into the AI sector, with a focus on various applications and services related to artificial intelligence and the Internet of Things (IoT) [1] Group 1 - Qianli Intelligent Connected has a registered capital of 150 million yuan [1] - The company's business scope includes AI theory and algorithm software development, AI industry application system integration services, IoT application services, and IoT technology services [1] - The company is jointly held by Qianli Technology (601777) and other stakeholders [1]

Core Viewpoint - Recently, Qianli Zhixing Internet of Vehicles (Chengdu) Technology Co., Ltd. was established with a registered capital of 150 million yuan, focusing on artificial intelligence and IoT services [1] Company Summary - Qianli Zhixing Internet of Vehicles (Chengdu) Technology Co., Ltd. has a registered capital of 150 million yuan [1] - The company is involved in the development of artificial intelligence theories and algorithms, as well as system integration services for AI applications [1] - It also provides IoT application services and technology services [1] Ownership Structure - The company is jointly held by Qianli Technology (601777) and other stakeholders [1]

Core Insights - A new company named Qianli Zhixing Internet of Vehicles (Chengdu) Technology Co., Ltd. has been established with a registered capital of 150 million RMB [1][1] - The company is involved in the development of artificial intelligence (AI) foundational software, AI application software, and network and information security software [1][1] - The shareholders of the new company include Qianli Technology (601777), Chengdu Zhiyuanhui Information Technology Co., Ltd., and Chongqing Qianli Zhida Enterprise Management Consulting Partnership (Limited Partnership) [1][1] Company Overview - The legal representative of Qianli Zhixing is Wang Jun [1] - The registered capital of the company is 150 million RMB, indicating a significant investment in the AI and software development sector [1][1] Industry Implications - The establishment of this company highlights the growing focus on AI and cybersecurity software development in the technology sector [1][1] - The collaboration among established firms suggests a strategic move to leverage combined expertise in AI and information security [1][1]

Core Insights - Chongqing Qianli Technology Co., Ltd. reported strong production and sales performance in the automotive sector, particularly in the new energy vehicle (NEV) segment, for September 2025 [3]. Production and Sales Data - In September, the production of new energy vehicles reached 4,282 units, representing a year-on-year increase of 975.88%. Cumulatively, 13,284 units were produced this year, marking a growth of 212.42% [1][2]. - Sales of new energy vehicles in September totaled 4,423 units, with a year-on-year increase of 106.68%. The cumulative sales for the year reached 26,487 units, reflecting a growth of 67.42% [1][2]. - For other vehicle models, production in September was 7,775 units, showing a year-on-year increase of 293.67%, with cumulative production of 44,370 units for the year, up 145.74% [2]. - Sales of other vehicle models in September amounted to 8,145 units, a year-on-year increase of 226.32%, with cumulative sales of 46,098 units for the year, up 118.30% [2]. - Overall, total production in September was 12,057 units, a year-on-year increase of 408.09%, with cumulative production of 57,654 units for the year, reflecting a growth of 158.45% [2]. - Total sales in September reached 12,568 units, a year-on-year increase of 171.10%, with cumulative sales of 72,585 units for the year, marking a growth of 96.50% [2]. Market Position - The significant growth in production and sales of new energy vehicles indicates that the company is enhancing its competitiveness in the NEV market, driven by strong market demand [2].

Core Insights - Qianli Technology (601777.SH) reported a significant increase in automotive production and sales for September 2025, with production reaching 12,057 units, a year-on-year growth of 408.09% [1] - The company also achieved sales of 12,568 units in September 2025, reflecting a year-on-year increase of 171.10% [1] - Notably, the production of new energy vehicles (NEVs) in September 2025 was 4,282 units, marking an impressive year-on-year growth of 975.88%, while sales reached 4,423 units, up 106.68% year-on-year [1]