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On July 31, Qianli Technology announced that its wholly-owned subsidiary, Ruilan Manufacturing, intends to enter into the "P658 Project Technology Transfer Agreement" with Ningbo Geely Automobile Research and Development Co., Ltd. Under this agreement, Ruilan Manufacturing will transfer the intellectual property rights of its developing vehicle technology to Ningbo Geely Automobile Research and Development Co., Ltd. for a consideration of RMB 345 million (inclusive of tax). This strategic move aims to align with the company's overall strategic and operational objectives, enabling a sharper focus on profitable product lines, optimizing resource allocation, and enhancing both its business and asset structure. This transaction is in line with the long-term interests of Qianli Technology and its shareholders.
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