Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company reported a significant year-on-year increase in performance for Q1 2025, with revenue reaching 1.807 billion yuan, up 28% year-on-year, and a net profit attributable to shareholders of 20 million yuan, up 30% year-on-year [5][6] - The "AI + Car" strategy is being effectively advanced, with partnerships established for smart driving systems and intelligent cockpits [6] - The company is expected to achieve revenues of 9.238 billion yuan, 12.355 billion yuan, and 15.478 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 31.31%, 33.75%, and 25.28% [7] Company Overview - The latest closing price of the company's stock is 8.93 yuan, with a total market capitalization of 40.4 billion yuan [3] - The company has a total share capital of 4.521 billion shares and a debt-to-asset ratio of 46.3% [3] Financial Performance - In 2024, the company achieved a revenue of 7.035 billion yuan, a 4% increase year-on-year, and a net profit of 40 million yuan, a 65% increase year-on-year [5] - The company sold a total of 57,777 passenger vehicles, including 24,525 new energy vehicles, in 2024 [7] - The company plans to accelerate its intelligent cockpit business in 2025, focusing on technological innovations in areas such as 3D mapping and AI voice interaction [6]

Investment Rating - The investment rating for the company is "Buy" and is maintained [2] Core Insights - The company reported a significant year-on-year increase in Q1 2025 performance, with revenue reaching 1.807 billion yuan, up 28% year-on-year, and a net profit attributable to shareholders of 20 million yuan, up 30% year-on-year [6][8] - The "AI + Car" strategy is being effectively implemented, with a focus on smart driving systems and intelligent cockpits [7] - The company is expected to achieve revenues of 9.238 billion yuan in 2025, with a year-on-year growth of 31.31%, and a net profit of 89.45 million yuan, reflecting a growth of 123.54% [8][9] Financial Performance - In 2024, the company achieved a revenue of 7.035 billion yuan, a 4% increase year-on-year, and a net profit of 40 million yuan, a 65% increase year-on-year [6] - The company sold a total of 57,777 passenger vehicles in 2024, with revenue from passenger vehicles amounting to 4.217 billion yuan, a 13% increase year-on-year [8] - The company plans to accelerate its smart cockpit business in 2025, focusing on technological innovations in 3D mapping, AI voice, and immersive entertainment experiences [7]

Core Viewpoint - Geely Galaxy has acknowledged issues with its app related to vehicle control and login, attributing the problems to network fluctuations from the service provider [1] Group 1 - The official statement from Geely Galaxy indicates that the app's remote vehicle control and account login functionalities were disrupted [1] - The company has reported that it is actively working with the service provider to address and resolve the network issues [1] - Users are advised to be patient while the problems are being fixed [1]

Core Viewpoint - The article discusses the transformation of the company from Megvii to Qianli Technology, focusing on the strategic shift towards "AI + automotive" and the importance of establishing a sustainable business model to support technological advancements [4][22]. Group 1: Company Transformation - The chairman of Qianli Technology, Yin Qi, transitioned from founding Megvii to leading Qianli, aiming to create a closed-loop business model that integrates AI with hardware [4][5]. - Qianli Technology, previously known as Lifan Technology, has restructured its ownership and is now focusing on becoming a leading supplier in automotive intelligence [4][6]. - The company aims to leverage its existing capabilities in AI and robotics to create a more comprehensive solution for the automotive industry [4][22]. Group 2: Strategic Insights - Yin Qi emphasizes the necessity of a solid business model to sustain technological innovation, stating that without a viable commercial framework, the team's technical aspirations cannot be supported [4][18]. - The shift from a technology-first approach to a value-driven model reflects a deeper understanding of the relationship between technology and market needs [4][18]. - The company recognizes the importance of integrating AI with physical applications, particularly in the automotive sector, as a means to achieve a sustainable competitive advantage [8][22]. Group 3: Market Dynamics - The competitive landscape for AI and automotive integration is characterized by rapid technological advancements and the need for companies to adapt quickly to market demands [14][20]. - Yin Qi notes that the current AI landscape is a resource-intensive battleground, where companies must combine model development with practical applications to succeed [14][21]. - The article highlights the importance of forming strategic partnerships and alliances within the automotive ecosystem to enhance Qianli's market position [22][25]. Group 4: Future Directions - Qianli Technology plans to focus on developing intelligent driving and cockpit technologies, positioning itself as a key player in the automotive intelligence market [22][23]. - The company aims to establish an open and international approach, collaborating with top-tier partners in the industry to create comprehensive solutions [22][23]. - Yin Qi believes that the future of intelligent driving will rely on data-driven models, emphasizing the need for a robust data ecosystem to support AI applications in vehicles [38][39].

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 2024 年年度股东大会的 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 本所经办律师（"本所律师"）出席并见证了本次股东大会，并依照现行有 效的中国法律、法规以及中国证券监督管理委员会（"中国证监会"）相关规章、 规范性文件的要求和规定，对千里科技提供的与题述事宜有关的法律文件及其 他文件、资料进行了审查、验证。同时，本所律师还审查、验证了本所律师认 为出具本法律意见书所必需审查、验证的其他法律文件及信息、资料和证明， 并就有关事项向千里科技有关人员进行了询问。 2024 年年度股东大会的 法律意见书 GLO2025SH（法）字第 0452 号 致：重庆千里科技股份有限公司 根据重庆千里科技股份有限公司（"千里科技"或"公司"）的委托，北京市 环球律师事务所上海分所（"本所"）就公司 2024 年年度股东大会（"本次股东 大会"）所涉及的召集、召开程序、召集人资格和出席会议人员的资格、表决程 序及表决结果等相关问题发表法律意见。本法律意见书系依据《中华人民共和 国公司法》《中华人民共和国证券法》《上市公司股东会规则》（" ...

证券代码：601777 证券简称：千里科技 公告编号：2025-036 重庆千里科技股份有限公司 2024年年度股东大会决议公告 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。 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长主持，本次股东大会采用现场投票和网 络投票相结合的方式召开，会议的召集、召开和表决符合《公司法》及《公司章 程》的规定。 (五)公司董事、监事和董事会秘书的出席情况 1. 公司在任董事9人，出席9人； 2. 公司在任监事3人，出席3人； 3. 公司董事会秘书出席会议，其他高级管理人员列席会议。 二、议案审议情况 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 9 日 (二)股东大会召开的地点：重庆市北碚区蔡家岗镇凤栖路 16 号总部大楼 11 楼会 议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1．出席会议的股东和代理人人数 | 914 | | ...

2.本表为产销快报数据，最终数据以2025年审计数据为准。 特此公告。 重庆千里科技股份有限公司董事会 2025年5月7日 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。 证券代码：601777 证券简称：千里科技 公告编号：2025-035 重庆千里科技股份有限公司2025年4月产销数据如下： | 产品名称 | | | | 生产（辆） | | | 销售（辆） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 本月 | 本月 | 本年 | 本年累计 | 本月 | 本月 | 本年 | 本年累计 | | | | 数量 | 同比增减 | 累计 | 同比增减 | 数量 | 同比增减 | 累计 | 同比增减 | | 汽车 | 新能源 汽车 | 933 | 142.34% | 4,511 | 178.11% | 3,145 | 82.42% | 12,882 | 107.51% | | 整车 | 其他 车型 | 3,109 | 218.55% ...

千里科技（601777）公告，2025年4月汽车整车销售6346辆，同比增长39.17%；本年累计销售20585 辆，同比增长24.62%。 ...

Financial Performance - The company's operating revenue for Q1 2025 reached ¥1,806,577,744.51, representing a year-on-year increase of 28.47% compared to ¥1,406,240,217.29 in the same period last year[4] - Net profit attributable to shareholders was ¥20,044,691.03, up 29.82% from ¥15,440,351.70 in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 64.18%, amounting to ¥23,033,788.82 compared to ¥14,029,375.96 last year[4] - Basic and diluted earnings per share were both ¥0.0044, reflecting a 29.41% increase from ¥0.0034 in the same period last year[4] - The company reported a net cash flow from operating activities of ¥39,106,117.23 in Q1 2025, down from ¥52,139,574.50 in Q1 2024[20] - The company recorded a total comprehensive income of ¥20,376,056.79 in Q1 2025, compared to a loss of ¥57,241,869.97 in Q1 2024[18] - Net profit for Q1 2025 was a loss of ¥41,465,865.71, an improvement from a loss of ¥57,245,500.75 in Q1 2024[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥21,183,409,773.81, a decrease of 2.44% from ¥21,713,662,266.54 at the end of the previous year[4] - As of March 31, 2025, the total current assets amounted to RMB 7,602,551,806.82, a decrease from RMB 8,085,759,088.26 as of December 31, 2024, representing a decline of approximately 5.95%[12] - The total liabilities decreased to RMB 9,497,791,345.46 from RMB 10,048,419,894.98, showing a reduction of about 5.48%[14] - The company's total assets decreased to RMB 21,183,409,773.81 from RMB 21,713,662,266.54, reflecting a decline of about 2.44%[13] Shareholder Information - The company reported a total of 66,879 common shareholders at the end of the reporting period[9] - The largest shareholder, Chongqing Manjianghong Equity Investment Fund Partnership, holds 29.85% of the shares, totaling 1,349,550,000 shares[9] - Shareholders' equity attributable to the parent company increased by 0.78%, reaching ¥10,593,216,050.64 compared to ¥10,511,329,437.11 at the end of the previous year[4] Cash Flow and Investments - The company's cash and cash equivalents decreased to RMB 3,216,271,711.13 from RMB 3,679,404,796.07, reflecting a reduction of about 12.59%[12] - Investment activities resulted in a net cash outflow of ¥379,010,680.56 in Q1 2025, compared to a net outflow of ¥117,680,281.90 in Q1 2024[21] - The company experienced a foreign exchange gain of ¥26,224,387.23 in Q1 2025, compared to a gain of ¥3,848,147.21 in Q1 2024[21] Operating Costs and Expenses - Total operating costs for Q1 2025 were ¥1,891,434,667.99, up 17.4% from ¥1,610,781,487.16 in Q1 2024[17] - R&D expenses increased significantly to ¥134,162,672.81 in Q1 2025, compared to ¥89,138,556.31 in Q1 2024, reflecting a 50.5% rise[17] Other Financial Metrics - The weighted average return on net assets improved by 0.04 percentage points to 0.19% from 0.15% in the previous year[4] - The company's inventory increased to RMB 2,318,079,868.52 from RMB 2,266,953,664.64, representing an increase of about 2.25%[12] - The long-term equity investments rose to RMB 5,235,523,483.83 from RMB 5,187,772,019.22, indicating an increase of approximately 0.92%[13] - The company's short-term borrowings decreased to RMB 603,493,722.22 from RMB 617,420,222.22, indicating a reduction of approximately 2.00%[14]