Core Viewpoint - On September 25, 2023, Chongqing Qianli Technology Co., Ltd. announced that its shareholder Lifan Holdings transferred 135.6 million shares (3.00% of total equity) to Mercedes-Benz (Shanghai) Digital Technology Co., Ltd. at a price of RMB 9.87 per share, totaling approximately RMB 1.34 billion, marking Mercedes' strategic investment in the smart technology sector [2][5]. Group 1: Investment Details - Lifan Holdings transferred shares to Mercedes-Benz Digital Technology to repay debts due to a failure to complete a stock pledge repurchase agreement [2]. - Mercedes-Benz Digital Technology will become the fifth largest shareholder of Qianli Technology and has committed not to reduce its holdings within 12 months post-transfer [2]. Group 2: Company Background - Qianli Technology, formerly known as Lifan Technology, underwent a name change in February 2025 after emerging from bankruptcy restructuring in 2020 [3]. - Geely became the majority shareholder of Qianli Technology in 2022 and has since made significant adjustments to its smart driving team, integrating various divisions and personnel [3][4]. Group 3: Strategic Implications - Qianli Technology is positioned as a key platform for smart driving within Geely's ecosystem, with its solutions being applicable to Geely's vehicles and available for external supply [4]. - The partnership with Mercedes-Benz is expected to enhance Mercedes' smart technology capabilities in the Chinese market, aligning with its ongoing investments in local smart technology firms [5][6]. Group 4: Industry Context - Other major automotive companies like BMW, Audi, and Volkswagen are also accelerating partnerships with local smart technology suppliers to enhance their competitive edge in the electric and smart vehicle market [6].