财务数据显示，公司转型成效逐步显现。2025年前三季度，千里科技实现营业收入69.46亿元，同比大 幅增长44.27%；归母净利润5327.94万元，同比增长33.37%；营收规模在行业9家公司中排名第三，其 中，2024年汽车业务销量达5.78万台，同比增长36.7%，创三年新高，海外业务营收占比超40%，形成 稳健增长的业务基本盘。 千里科技表示，此次奔驰数字技术的入股，不仅为公司带来资金支持，更有望在智能驾驶、高端制造等 领域形成技术协同，为"AI+车"战略注入全球顶尖资源。未来，公司将继续深化"AI+车"核心战略，借 助股东资源优势聚焦智能驾驶、智能座舱等关键领域技术创新，推进产品迭代与量产落地，同时加速国 际化布局，为股东及利益相关者创造可持续价值回报。 中证报中证网讯(王珞)12月24日晚间，千里科技（601777）发布公告，披露股东协议转让股份过户完成 关键进展：原持股5%以上股东力帆控股所持1.36亿股公司无限售流通股(占总股本3.00%)，已按9.87元/ 股的价格完成过户，受让方为梅赛德斯-奔驰(上海)数字技术有限公司(下称"奔驰数字技术")。交易完成 后，奔驰数字技术正式成为千里科技第五 ...

2025年11月4日，在上海证券交易所的指导下，华福证券国家级投资者教育基地联合重庆邹容路证券营业部，共同组织投资者走进上市公司 千里科技 ，开展 了一场聚焦企业发展动态与上市公司运营的深度交流活动。此次活动为投资者搭建了近距离考察平台，助力其全面了解该公司从传统制造向智能化转型的最 新进展。 上市公司简介： 重庆千里科技股份有限公司聚焦"AI+车"核心战略，创 新产业 发展模式，致力于打造面向全球市场的智能出行科技品牌。公司核心业务包括终端业务与科 技业务两大板块，其中终端业务覆盖摩托车、汽车领域，旗下摩托车品牌"力帆、派方"和 新能源 汽车品牌"睿蓝"形成多元化产品矩阵；科技业务聚焦研发 行业领先的智能驾驶和智能座舱解决方案，打造AI智行开放平台。 在参观环节中，千里科技高管向投资者展示了最新的技术成果，投资者现场见证了公司智能辅助驾驶解决方案及联合生态伙伴推出的 智能座舱 Agent OS 系 统。这套系统基于AI Agent原生打造，能够为AI Agent的运行、调用与协作提供底层基础设施与服务。体验后，有投资者表示："从传统的 汽车制造 到如今 的AI驱动，AI故事不仅写在资料里，更烙在生产线上的每 ...

来源：凤凰网财经《公司研究院》 从濒临破产的摩托车企，重整变身为 AI智驾新贵，千里科技 打算去港股找钱 。 在外界耳中，千里 科技 的名字还算不上耳熟能详 ， 公司背后的 资本图景却引人瞩目。 第一大股东吉利控股集团，贡献了其近三成营业收入 ； 奔 驰斥资 13.38亿元入股3%，带来关键技术验证 资源 。管理层 阵容豪华， 旷视科技创始人印奇执掌，前华为智能汽车解决方案事业部总裁王军 领衔 。 产业资本、国际背书、技术精英傍身，却难保公司冲刺港股前途畅通。一面是上半年扣非归母净利亏损 1.3亿元，下降幅度超过900%。一面是重度 依赖吉利，外部拓客能力受到质疑。 更关键的是， 由于转型时间过短，公司尚未从智能驾驶、智能座舱和 Robotaxi等技术解决方案 业务中获得收入 。 千里科技闯关港股，会顺利吗？ 01 不讲情怀，只看账本 起步于 1992年，千里科技的前身力帆科技以摩托车发动机生产起家，旗下力帆摩托曾家喻户晓。但因产业结构转型、市场竞争加剧以及内部管理问 题，逐步陷入经营困境。 最终，这家曾经的行业标杆企业于五年前走向破产重整。吉利汽车实控人李书福旗下的吉利系及旷视科技创始人印奇双双出手。 图片 ...

Core Viewpoint - The article discusses the share reduction plan by Jianghehui, a major shareholder of Qianli Technology, led by Chairman Yin Qi and Vice Chairman Bao Yi, indicating potential changes in shareholder structure without significant impact on company governance [2][5]. Group 1: Share Reduction Details - Jianghehui plans to reduce its holdings by up to 2% (90.42 million shares) through block trading within three months starting from December 8, 2025 [2][5]. - The current market value of the shares held by Jianghehui exceeds 1 billion [2]. - Jianghehui holds 9 billion shares of Qianli Technology, representing a 19.91% stake, making it the second-largest shareholder [5][8]. Group 2: Management and Ownership Structure - Yin Qi is the actual controller of Jianghehui, while Bao Yi is the second-largest shareholder [7]. - Both Yin Qi and Bao Yi hold significant stakes in Jianghehui through their control of Jianghe Anlan Investment Partnership [7]. - Yin Qi directly holds 53% of Jianghe Anlan, while Bao Yi holds 26.1% [7]. Group 3: Company Performance - Qianli Technology reported a revenue of 6.946 billion and a net profit of 53 million for the first three quarters of 2025, with a net loss of 176 million after excluding non-recurring items [8]. - The company produced 64,171 vehicles and sold 81,053 vehicles in the first ten months of 2025 [9]. - Under Yin Qi's leadership, the stock price of Qianli Technology has doubled, increasing from a low of 5.62 to a high of 13.86 per share [10].

Core Viewpoint - The chairman and vice chairman of Qianli Technology plan to reduce their holdings by up to 2% through block trading, which is seen as a move to attract potential quality investors without significantly impacting the company's governance or operations [1][2]. Shareholding and Management - The major shareholders, including the chairman Yin Qi and vice chairman Bao Yi, control Jianghehui, which holds 19.91% of Qianli Technology's shares, equivalent to 900 million shares [2][4]. - Yin Qi is the actual controller of Jianghehui, while Bao Yi is the second-largest shareholder [4]. Financial Performance - Qianli Technology reported a revenue of 6.946 billion yuan and a net profit of 53 million yuan for the first three quarters of 2025, with a net loss of 176 million yuan after excluding non-recurring gains and losses [4]. - The company produced 64,171 vehicles and sold 81,053 vehicles in the first ten months of 2025 [4]. Stock Performance and Market Reaction - The stock price of Qianli Technology has doubled within a year, rising from a low of 5.62 yuan to a high of 13.86 yuan [5]. - As of November 17, 2025, the market value of the shares held by the chairman and vice chairman exceeds 1 billion yuan [1][5]. Strategic Direction - The company is focusing on the "AI + vehicle" business transformation, aiming to leverage technology and product advantages to drive growth [4].

Core Insights - Q3 financial results reveal that the company reported a revenue of 6.946 billion yuan, a year-on-year increase of 44.27%, but a net profit attributable to shareholders of 53.28 million yuan, a growth of 33.37%. However, after excluding non-recurring gains and losses, the company faced a net loss of 176 million yuan, indicating ongoing operational challenges despite apparent profits supported by government subsidies [1][2]. Financial Performance - The company's net profit in Q3 was 22.11 million yuan, significantly bolstered by government subsidies amounting to 87.59 million yuan, highlighting a concerning "profit inversion" that points to weak core business profitability [2]. - Operating cash flow for the first three quarters reached 2.508 billion yuan, a substantial increase of 364%, primarily driven by increased sales collections and government subsidies rather than improved core business performance [2]. - The gross margin for sales was 7.18%, down from 8.99% for the entire year of 2024, while the net profit margin remained negative at -2.56% [2]. R&D and Strategic Focus - The company's core issue lies in the imbalance between transformation investments and short-term returns, with Q3 losses attributed to increased advertising expenses and a surge in R&D spending for smart vehicle cockpit operating systems, totaling 455 million yuan for the first three quarters, a year-on-year increase of 68.15% [3]. - Following its rebranding in February 2025, the company shifted its strategic focus to the "AI + vehicle" sector, working on three main AI solutions: smart driving, smart cockpit, and Robotaxi, which have yet to generate revenue [3]. Market Valuation and IPO Plans - Despite ongoing losses, the company maintains a high market valuation, with a TTM price-to-earnings ratio of 1009 times and a price-to-sales ratio of approximately 5 times, significantly above industry averages, driven by market expectations for its smart driving business [4]. - The company submitted an IPO application to the Hong Kong Stock Exchange in mid-October, aiming to alleviate financial pressures. However, the sustainability of its valuation logic amidst continuous declines in net profit remains uncertain [4]. Transition Challenges - The company is currently in a transitional phase characterized by declining old business and unestablished new business, necessitating ongoing financing capabilities due to the high investment nature of its smart driving business [5]. - If the IPO is delayed or the commercialization of technology progresses slowly, the company may face risks of cash flow disruption, relying heavily on government subsidies and capital market support for its transformation efforts [5].

Core Viewpoint - The company has announced its third-quarter financial report and details regarding guarantees provided for its subsidiaries, emphasizing the accuracy and completeness of the information disclosed [3][8][24]. Financial Data Summary - The third-quarter financial report for 2025 has not been audited, and the company has confirmed the authenticity of the financial information presented [3][5]. - The report includes significant non-recurring gains and losses, although specific amounts are not detailed in the provided documents [3][4]. Guarantee Information - The company has signed a maximum pledge contract with Chongqing Bank, pledging 18 million shares to guarantee a credit line of up to RMB 96 million for its subsidiary, Chongqing Lifan Import and Export Co., Ltd. [9][10]. - Additionally, the company has provided a joint liability guarantee of up to RMB 120 million for another subsidiary, Chongqing Lifan Internal Combustion Engine Co., Ltd., using 15 million shares as collateral [9][10]. - A guarantee of up to RMB 100 million has been arranged for Chongqing Ruilan Automobile Manufacturing Co., Ltd. with China Minsheng Bank, backed by 13 million shares [9][10]. - The company has also signed a guarantee agreement with Industrial Bank for up to RMB 50 million for Chongqing Lifan Internal Combustion Engine Co., Ltd. [10][17]. Board Meeting Decisions - The company's board of directors held a meeting on October 30, 2025, where they unanimously approved the third-quarter report and the provision of guarantees for subsidiaries [24][26]. - The board also approved an adjustment to the expected amount of daily related transactions for 2025, increasing it by RMB 85 million, bringing the total to RMB 1,126.2 million [25][30]. Related Transactions - The adjustment of daily related transactions is aimed at enhancing the company's strategic development and operational needs, ensuring that the transactions are fair and do not harm the interests of shareholders [30][33]. - New related parties have been introduced, including Shanghai Jiyue Jiyuan Intelligent Technology Co., Ltd. and Shanghai Jiyue Xingchen Intelligent Technology Co., Ltd., with an expected transaction amount of RMB 85 million [33][36].

Core Insights - Q3 2025 financial results show significant revenue growth for the company, driven by increased sales in the automotive and motorcycle sectors [2][3] - The company reported a net profit increase primarily due to government subsidies and foreign exchange gains, despite a substantial loss when excluding non-recurring items [3][4] - The company is undergoing a transformation towards an "AI + vehicle" strategy, with plans for a Hong Kong IPO, although its new business segments have yet to generate revenue [4] Financial Performance - Q3 revenue reached 2.762 billion yuan, a year-on-year increase of 51.2% [2] - Net profit attributable to shareholders was approximately 22.11 million yuan, up 60.75% year-on-year [2] - For the first three quarters, total revenue was 6.946 billion yuan, a 44.27% increase year-on-year, with a net profit of about 53.28 million yuan, reflecting a 33.37% growth [2] Business Segments - The growth in revenue is attributed to the sales of the company's automotive business, particularly the micro electric vehicle "Blue Balloon" and the A0-level fuel SUV "Rui Lan X3 PRO" [3] - The "Blue Balloon" model sold over 3,000 units in September, while the "Rui Lan X3 PRO" had sales exceeding 5,700 units in July and August, but dropped to 2,381 units in September [3] - Despite increased sales, the company reported a sales profit margin of -2% in Q3 [3] Government Support and R&D - The company received 87.59 million yuan in government subsidies during Q3, which significantly contributed to the net profit [3] - Excluding non-recurring gains, the company faced a net loss of 42.41 million yuan, primarily due to increased advertising expenses and R&D costs for a new intelligent vehicle cockpit operating system [3] Strategic Transformation - The company, originally known as Lifan Automotive, has undergone a transformation after judicial restructuring and the introduction of new stakeholders [4] - In September, the company announced its strategic focus on three main business areas: intelligent driving, intelligent cockpit, and Robotaxi services [4] - The company plans to list on the Hong Kong Stock Exchange, although its new business segments have not yet generated any revenue [4]

Core Viewpoint - Q3 2025 financial results of Qianli Technology show significant revenue growth driven by automotive and motorcycle sales, but profitability remains a concern due to high costs and low margins [1][2] Financial Performance - Q3 revenue reached 2.762 billion yuan, a year-on-year increase of 51.2% [1] - Net profit attributable to shareholders was approximately 22.11 million yuan, up 60.75% year-on-year [1] - Non-recurring net profit showed a loss of 42.41 million yuan, a year-on-year decline of 657% [1][2] - For the first three quarters, total revenue was 6.946 billion yuan, a 44.27% increase year-on-year [1] - Net profit attributable to shareholders for the first three quarters was nearly 53.28 million yuan, a 33.37% increase year-on-year [1] Business Segments - Growth in revenue is primarily attributed to increased sales in the automotive and motorcycle sectors [1] - Key automotive products include the micro electric vehicle "Blue Balloon" and the A0-level fuel SUV "Ruilan X3 PRO," both priced under 60,000 yuan [1] - The "Blue Balloon" achieved over 3,000 units sold in September after its launch, while "Ruilan X3 PRO" sales exceeded 5,700 units in July and August but dropped to 2,381 units in September [1] Profitability Challenges - The sales profit margin for Q3 was -2%, indicating challenges in profitability despite revenue growth [1] - The increase in net profit was largely due to government subsidies and foreign exchange gains, with government subsidies amounting to 87.59 million yuan [2] - Excluding non-recurring gains, the company reported a net loss of 42.41 million yuan, primarily due to increased advertising expenses and R&D costs for a new smart vehicle cockpit operating system [2] Strategic Developments - Qianli Technology, originally Lifan Automotive, underwent a transformation after judicial restructuring and is now focusing on an "AI + Vehicle" strategy [2] - The company announced three main business directions: intelligent driving, intelligent cockpit, and Robotaxi services, which are capital-intensive [2] - Plans for an IPO in Hong Kong were initiated in mid-October, with high market valuations based on future potential in the new business areas, which have yet to generate revenue [2]

Group 1 - The article discusses the impact of heavy rainfall in Honduras, resulting in 16 deaths and over 34,000 people affected, with significant damage to infrastructure [3][4] - The article highlights the response of the Honduran government, which has declared a state of alert in 12 out of 18 provinces due to the severe weather conditions [3][4] Group 2 - The article reports on the theft of nine Napoleon-era jewels from the Louvre Museum in Paris, with the robbery taking place in just seven minutes [5] - French authorities are investigating the incident, and the police have not ruled out the possibility that the suspects are foreign nationals [5] Group 3 - The article mentions a video call between Chinese and U.S. economic leaders, discussing important issues in bilateral trade relations and agreeing to hold further negotiations [7] - The article notes the election of Zheng Liwen as the new chairman of the Kuomintang party in Taiwan [8] Group 4 - The article reports on the successful launch of the Lijian-1 remote sensing satellite by a Chinese rocket, marking a significant achievement in commercial space endeavors [10] - The article highlights the detection of a new type of radio burst from stellar sunspot regions by China's FAST telescope, contributing to the understanding of space weather [11] Group 5 - The article discusses the rapid growth of generative artificial intelligence users in China, reaching 515 million by June 2025, a significant increase from the previous year [12] - The article indicates that the user penetration rate for generative AI in China is now at 36.5% [12] Group 6 - The article reports that 54 companies will have their restricted shares unlocked this week, totaling approximately 3 billion shares with a market value of about 72.5 billion yuan [28] - The companies with the highest market value of unlocked shares include Huibo Yuntong and Hengshuai Co., with values of 8.428 billion yuan and 8.403 billion yuan respectively [28] Group 7 - The article mentions that one new stock, Daming Electronics, is set to be issued this week, with the subscription date on October 24 [32] - The article notes that several small and medium-sized banks are reducing deposit interest rates, with expectations of further monetary easing in the fourth quarter [34]