Core Insights - The announcement on September 25 reveals that Lifan Holdings and Mercedes-Benz Digital Technology have signed a share purchase agreement to acquire a total of 135,633,002 shares of Qianli Technology, representing 3.00% of the company's total equity, at a price of RMB 9.87 per share, totaling approximately RMB 1.339 billion [1] - Mercedes-Benz Digital Technology will hold 3% of Qianli Technology's shares post-transaction, becoming the fifth-largest shareholder [1] Group 1 - The investment by Mercedes-Benz, exceeding RMB 1.3 billion, is aimed at enhancing its competitive edge in intelligent driving, accelerating local R&D, and expanding its collaborative ecosystem [2] - Qianli Technology is recognized for its significant contributions in the intelligent driving sector, particularly through its "Qianli Haohan" intelligent driving solution, which has been rapidly implemented across various models of Geely's automotive brands [2][6] - The "Qianli Haohan" solution includes five levels (H1, H3, H5, H7, H9) and has already been integrated into Geely's economic models, with the H3 solution fully deployed in vehicles priced around RMB 100,000 [2] Group 2 - Qianli Technology, formerly Lifan Technology, has undergone a strategic transformation focusing on "AI + vehicle" technologies, with significant backing from Geely [7] - The company plans to go public in Hong Kong to raise funds for enhancing its AI capabilities, R&D, and expanding its sales and service networks [11] - In the first half of 2025, Qianli Technology reported revenues of RMB 4.184 billion, a year-on-year increase of 40.04%, and a net profit of RMB 31.17 million, reflecting a 19% growth [11]

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。 一、获得补助的基本情况 重庆千里科技股份有限公司（以下简称"公司"）于2025年9月25日获得与 收益相关的政府补助546万元，占公司最近一期经审计净利润的13.64%。 二、补助的类型及其对上市公司的影响 证券代码：601777 证券简称：千里科技 公告编号：2025-075 重庆千里科技股份有限公司 关于获得政府补助的公告 公司根据《企业会计准则第16号——政府补助》的相关规定，确认上述事项 并划分补助类型。上述政府补助未经审计，具体会计处理以及对公司损益的影响 情况，最终以审计机构年度审计确认后的结果为准，敬请广大投资者注意投资风 险。 特此公告。 重庆千里科技股份有限公司董事会 2025年9月27日 ...

Core Viewpoint - Mercedes-Benz has officially acquired a 3% stake in Qianli Technology, enhancing its software capabilities in China, marking a strategic investment aimed at boosting its presence in the intelligent driving sector [2][3]. Group 1: Investment Details - On September 25, Qianli Technology announced that its shareholder, Lifan Holdings, transferred 135.6 million shares (3% of total equity) to Mercedes-Benz Digital Technology at a price of RMB 9.87 per share, totaling approximately RMB 1.34 billion [2]. - This transaction is characterized as both a "debt restructuring and strategic investment," as Lifan Holdings needed to settle debts through this share transfer [2]. Group 2: Background of Qianli Technology - Qianli Technology, formerly known as Lifan Technology, underwent a name change in February 2025 after emerging from bankruptcy restructuring in 2020, with Geely becoming its major shareholder [3]. - Geely has recently restructured its intelligent driving team, merging various divisions into Qianli Technology, which now serves as the primary platform for intelligent driving within Geely's operations [4]. Group 3: Strategic Implications for Mercedes-Benz - The investment in Qianli Technology is part of Mercedes-Benz's broader strategy to enhance its intelligent driving capabilities in the Chinese market, following previous investments in local tech firms [5]. - Mercedes-Benz's collaboration with Qianli Technology is expected to help the company meet the evolving demands of Chinese consumers for electric and intelligent vehicles [6]. Group 4: Industry Context - Other major automotive players like BMW, Audi, and Volkswagen are also accelerating partnerships with local Chinese tech firms to enhance their competitive edge in the electric and intelligent vehicle market [6].

Core Insights - The company, Qianli Technology (601777), announced on September 26 that it received a government subsidy of 5.46 million yuan on September 25, which accounts for 13.64% of its most recent audited net profit [1] Financial Impact - The government subsidy of 5.46 million yuan is a significant addition to the company's financials, representing a notable percentage of its net profit [1]

Market Overview - On September 26, the motorcycle and other sectors experienced a decline of 0.22%, with Xilong Health leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable gainers included: - Zhenghe Industrial (003033) with a closing price of 58.53, up 3.54% [1] - Zhonglu Co., Ltd. (600818) at 10.17, up 2.11% [1] - Qianjiang Motorcycle (000913) at 16.81, down 0.36% [2] - Xilong Health (002105) led the declines with a closing price of 6.66, down 3.48% [2] Capital Flow - The motorcycle and other sectors saw a net outflow of 30.32 million yuan from main funds, while retail funds had a net inflow of 11.46 million yuan [2] - Key stocks in capital flow included: - Taotao Vehicle (301345) with a main fund net inflow of 13.84 million yuan [3] - Zhenghe Industrial (003033) with a main fund net inflow of 12.28 million yuan [3] - Qianjiang Motorcycle (000913) with a main fund net outflow of 1.46 million yuan [3]

Core Viewpoint - Chongqing Qianli Technology Co., Ltd. announced a share transfer from its major shareholder, Chongqing Lifan Holdings, to Mercedes-Benz (Shanghai) Digital Technology, indicating a strategic partnership aimed at enhancing software capabilities in the automotive sector [1][2]. Group 1: Share Transfer Details - Lifan Holdings plans to transfer 136 million shares, representing 3% of the total share capital, at a price of 9.87 CNY per share, totaling approximately 1.339 billion CNY [1]. - The transfer is a result of an unsuccessful stock pledge repurchase agreement and is part of a debt repayment strategy following a court-approved restructuring plan [1]. - The transfer price is set at 75% of the closing price on the trading day prior to the agreement, indicating a discounted transaction [1]. Group 2: Impact on Shareholding Structure - Following the transaction, Lifan Holdings' shareholding will decrease to 10.68%, making it the third-largest shareholder, while Mercedes-Benz Digital Technology will become the fifth-largest shareholder with a 3% stake [2]. - Mercedes-Benz Digital Technology, established in June 2023, focuses on AI application software development and automotive component R&D, aligning with the strategic goals of Qianli Technology [2]. Group 3: Strategic Implications - The investment by Mercedes-Benz is expected to enhance its software capabilities in China, with Qianli Technology potentially providing intelligent driving technology support for new models [2]. - Qianli Technology, formerly Lifan Motors, has undergone a transformation since 2020, focusing on "AI + automotive" business, with Geely Holding as a major shareholder [2]. - As of September 25, Qianli Technology's total market capitalization exceeded 58 billion CNY, reflecting its growing significance in the automotive technology sector [2].

Core Insights - Geely and Mercedes-Benz have achieved indirect cooperation through Qianli Technology, with Mercedes investing approximately 1.342 billion yuan for a 3% stake in the company [1][2] - The collaboration aims to enhance Mercedes' localization and technological development in the Chinese market, while also strengthening Qianli Technology's competitive edge in the intelligent driving sector [1][4] Company Overview - Qianli Technology, formerly known as Lifan, transitioned from motorcycle manufacturing to automotive production and underwent restructuring in 2021, with Geely becoming a significant shareholder [3] - The largest shareholder of Qianli Technology is Chongqing Manjianghong Private Equity Investment Fund, with Geely indirectly holding a substantial stake through its investment arm [3] Business Development - Mercedes Digital, a wholly-owned subsidiary of Mercedes-Benz (China) Investment Co., focuses on various sectors including autonomous driving and has been recognized as a foreign R&D center in Shanghai [2] - The collaboration reflects a shift in the automotive industry from mere market partnerships to deeper technological and capital cooperation, integrating global resources into China's smart electric vehicle industry [2][4] Strategic Implications - The investment by Mercedes serves as an endorsement of Qianli Zhijia, Geely's unified intelligent driving platform, potentially increasing its valuation and market influence [4] - Qianli Zhijia is positioned as a core technology platform within Geely's ecosystem, indicating a strategic move towards independent development in intelligent driving solutions [3][4]

Core Insights - Mercedes-Benz is advancing its strategy in China by launching a new intelligent driving assistance system in collaboration with local company Momenta, which will debut in the new all-electric CLA model [1][3] - The company is also enhancing its capital structure by acquiring a 3% stake in Qianli Technology for approximately 1.339 billion yuan, aiming to strengthen its smart technology ecosystem [1][6] Group 1: Intelligent Driving System - The new intelligent driving assistance system is based on a flywheel large model and features an end-to-end technology architecture, integrating perception, decision-making, and control, with a response time of just 100 milliseconds [3] - The system has been trained using 100% local data to adapt to China's complex traffic conditions, including scenarios like mixed traffic with non-motor vehicles and construction zones [3] - Extensive testing has been conducted across high-traffic routes and through simulation platforms, covering extreme weather conditions and unexpected road situations [3] Group 2: New Electric Vehicle Launch - The all-new all-electric CLA, built on the Mercedes-Benz MMA platform, is priced between 259,000 and 299,000 yuan, targeting the high-end electric sedan market [3][4] - The vehicle features an 800V high-voltage architecture, supporting 320kW fast charging, which can add 370 km of range in just 10 minutes, and has a CLTC range of 866 km with a consumption of only 10.9 kWh per 100 km [4] - The CLA includes advanced smart features, such as the jointly developed intelligent driving system and the proprietary MB.OS operating system, which enhances the vehicle's interactive capabilities [4] Group 3: Capital Investment and Strategic Partnerships - Mercedes-Benz's digital technology subsidiary acquired 1.36 million shares of Qianli Technology at a price of 9.87 yuan per share, with the total transaction amounting to approximately 1.339 billion yuan [6] - Qianli Technology, a subsidiary of Geely, focuses on intelligent driving solutions and plans to launch L3-level solutions within six months and L4-level Robotaxi technology by 2026 [7] - The investment is part of Mercedes-Benz's broader strategy to establish a significant digital research and development center in China, covering AI applications, autonomous driving, and automotive component development [6] Group 4: Market Positioning - The new electric CLA has commenced production at the Beijing Yizhuang factory and is set to launch later this year, enhancing Mercedes-Benz's competitive edge in the smart electric vehicle market in China [8]

Core Viewpoint - The equity change involves Chongqing Qianli Technology Co., Ltd. (referred to as "the company" or "Qianli Technology") where its major shareholder, Chongqing Lifan Holdings Co., Ltd. (referred to as "Lifan Holdings"), is transferring shares to Mercedes-Benz (Shanghai) Digital Technology Co., Ltd. to repay debts due to a failure to complete a stock pledge repurchase transaction as per the agreement [1][2][29] Summary by Sections Equity Change Overview - Lifan Holdings will transfer a total of 135,633,002 shares of the company, representing 3.00% of the total share capital, to Mercedes-Benz Digital Technology at a price of RMB 9.87 per share [1][2][29] - The transfer is part of a restructuring plan approved by the Chongqing Fifth Intermediate People's Court, allowing Lifan Holdings to dispose of pledged shares after a 24-month retention period [6][29] Impact on Company Structure - The equity change does not trigger a mandatory tender offer and will not result in a change of the company's controlling shareholder or actual controller, nor will it significantly impact the company's governance structure or ongoing operations [2][29] Share Transfer Details - The share transfer consists of two agreements: 1. The first agreement involves the transfer of 34,293,002 shares (0.76% of total shares) [4][19] 2. The second agreement involves the transfer of 101,340,000 shares (2.24% of total shares) [4][20] - The total purchase price for the shares in the first agreement is approximately RMB 338.47 million, while the total for the second agreement is approximately RMB 1 billion [10][20] Conditions and Procedures - The share transfer is subject to compliance confirmation from the Shanghai Stock Exchange and must be registered with the China Securities Depository and Clearing Corporation [2][6][29] - The buyer, Mercedes-Benz Digital Technology, has committed to a 12-month lock-up period during which it will not sell the acquired shares [28][29] Legal and Regulatory Compliance - The transfer complies with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China, and does not involve any commitments or arrangements that could harm the interests of the company or its shareholders [29][30]

奔驰数字技术承诺，自股份过户登记至其名下之日起12个月内不减持。交易完成后，奔驰数字技术将持 有千里科技3%的股份，成为后者第五大股东。 9月25日，千里科技(601777.SH)发布公告称，力帆控股、梅赛德斯-奔驰（上海）数字技术有限公司 （以下简称奔驰数字技术）分别与华创股份和申万宏源签署《股份购买协议》，力帆控股将其持有的合 计135633002股公司股份（占公司总股本的3.00%），以人民币9.87元/股的价格，通过协议转让方式转 让给奔驰数字技术。此次交易总价约13.39亿元。 ...