Chongqing Qianli subsidiary secures control of smart driving arm

Chongqing Qianli Technology Co., Ltd. (Qianli Technology) announced its subsidiary, Chongqing Jianghe Qixing Enterprise Management Partnership, will gain control over Chongqing Qianli Zhijia Technology Co., Ltd. (Qianli Zhijia). This is achieved through a shareholder voting rights entrustment agreement with related party Chongqing Maichi Zhixing Technology Co., Ltd. Under the agreement, Chongqing Maichi will irrevocably entrust its 30% equity voting rights in Qianli Zhijia to Jianghe Qixing for daily major operational matters. This arrangement involves no cash consideration.

Upon completion, Jianghe Qixing will control 60% of Qianli Zhijia's voting rights related to daily major operational matters, enabling Qianli Technology to consolidate Qianli Zhijia and its subsidiaries into its financial statements. This transaction, deemed a connected transaction, has been approved by Qianli Technology's board of directors, with independent directors concurring. It still requires shareholder approval.

This strategic alignment is crucial for Qianli Technology’s core AI+vehicle strategy, aiming to enhance its market competitiveness and establish a second growth curve. As of August 31, 2025, Qianli Zhijia reported total assets of 458,089.40 yuan and a net loss of 29,405.18 yuan, indicating it is currently in an investment phase.