Thousand Mile Technology: Subsidiary plans to transfer 345 million yuan in research and development vehicle technology intellectual property rights.

On the evening of July 31st, Qianli Technology announced that its wholly-owned subsidiary Rui Lan Manufacturing intends to sign a "P658 Project Technology Transfer Agreement" with Ningbo Geely Automotive Research and Development Co., Ltd., transferring the research vehicle model technology intellectual property to Ningbo Research Institute for a transaction amount of 345 million yuan. Ningbo Research Institute is a related party of the company, and this transaction constitutes a related party transaction, but does not constitute a major asset reorganization. After the transfer of the vehicle model technology, the company will be able to recover the research and development costs in advance, reducing market uncertainty risks. At the same time, the brand strength and channel advantages of the related party are expected to enhance the market competitiveness of the vehicle model, with the company subsequently commissioning the production of the vehicle model, which can bring stable income to the company, improve production capacity utilization, and maximize the value of the technology of the vehicle model.