Core Viewpoint - Qianli Technology (601777.SH) reported a significant increase in revenue and net profit for the first half of 2025, driven by growth in its automotive and motorcycle businesses, despite a substantial decline in non-recurring net profit due to increased R&D expenses and asset impairment losses [1][5]. Financial Performance - The company achieved an operating revenue of 4.184 billion yuan, representing a year-on-year increase of 40.04% [2]. - The net profit attributable to shareholders was 31.17 million yuan, up 19.00% compared to the previous year [2]. - The non-recurring net profit attributable to shareholders was -133.5 million yuan, a significant decline of 903.91% year-on-year, primarily due to increased R&D investment in smart automotive cockpit operating systems [2][5]. - The net cash flow from operating activities reached 1.315 billion yuan, a substantial increase of 396.29% year-on-year, supported by revenue growth and increased government subsidies [1][2]. Business Segments - The automotive segment focuses on building a "charging and swapping integration" capability, optimizing product matrices for various scenarios, and enhancing customer value [5]. - The motorcycle segment emphasizes international expansion, strengthening its presence in key global markets, and improving local operational systems [5]. - During the reporting period, the motorcycle business advanced 38 projects, launched 6 new products, and achieved 26 certifications under European standards [5]. Technological Development - The technology segment is positioned as a core growth engine, collaborating with strategic partners to develop intelligent driving assistance and cockpit systems [6]. - Qianli Technology launched the "Qianli Smart Driving 1.0" solution, which includes multiple versions capable of autonomous decision-making and complex interactions [6]. - The company aims to establish itself as a leader in the "AI + vehicle" sector, focusing on smart mobility and developing comprehensive solutions and open platforms [8].