Qianli Technology accelerates "AI + Vehicles" commercialization: last year's net profit and R&D expenses both increased by more than 100% year-on-year

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Caixin Global April 3 News (Reporter Liu Jian) Benefiting from the intelligent connected-vehicle industry entering a new phase of deep AI enablement, Qianli Technology’s (601777.SH) “AI + car” strategic transformation in its first year has delivered a rather impressive “answer sheet.” Last year, the company saw growth in both revenue and net profit, while its intelligent driving business also achieved a breakthrough in revenue from nothing to something.

Tonight, Qianli Technology released an announcement stating that last year the company achieved operating revenue of 10B yuan, up 42.13% year over year; net profit attributable to shareholders of listed companies was 84.41 million yuan, up 110.93% year over year. Regarding the growth in performance, the company said it was mainly driven by increases in sales of its automotive business and motorcycle business, which boosted revenue and profit.

A Caixin Global reporter noted that the company’s revenue last year reached a new high in nearly seven years. Data from Choice shows that, prior to this, four institutions’ average forecasts for Qianli Technology’s 2025 revenue were 9.14B yuan, while the average forecast for net profit attributable to shareholders was 88.09 million yuan. At present, both of the company’s two key figures appear to broadly align with the institutions’ forecasts.

By quarter, the company posted operating revenue of 3.05B yuan in Q4, and net profit attributable to shareholders of about 31.13 million yuan. The company’s Q3 revenue was 2.76B yuan, with net profit attributable to shareholders of 22.11 million yuan. Based on this, Q4 revenue grew 10.54% quarter over quarter, while net profit attributable to shareholders grew 40.80% quarter over quarter.

By business segment, Qianli Technology currently focuses on two major core segments: its technology business and its terminal business. In the technology business, the company has prioritized intelligent driving solution offerings, intelligent cockpit systems, and related Robotaxi operations. Last year, its intelligent driving business made a breakthrough, recording revenue of 350 million yuan, achieving the key leap from zero to one.

On the technology front, the company uses the RLM (reinforcement learning–multimodal) model as its core technology foundation to build an end-to-end intelligent driving solution covering levels L2 to L4. In June last year, the company officially released Qianli Zhijia 1.0, an L2+ intelligent driver assistance solution, enabling large-scale rollout of its technology solution. In addition, last year the company also, together with industry leading enterprises, released the “Qianli Haihan” (G-ASD) high-level intelligent driving system. Currently, its L3-level intelligent driving solution has formed commercial vehicle plans, and is being carried out in conjunction with relevant vehicle types to complete the Ministry of Industry and Information Technology’s admission qualification certification.

For the intelligent cockpit, the company is centered on AI Agent to build a new technical architecture for the Qianli cockpit. By driving on both system platform and intelligent agent skills, it aims to upgrade the paradigm of human-vehicle interaction experience. Currently, the company has completed the development of the ASC100 intelligent cockpit platform.

Robotaxi is also a core product within the company’s technology business. According to a Caixin Global reporter, in this business, Qianli Technology has been carrying out road testing, admission applications, and other work in an orderly manner in key cities such as Chengdu.

In the terminal business, last year the company’s automotive business generated revenue of 6.44B yuan, with total vehicle sales up 83.93% year over year; the motorcycle and general-purpose machinery business generated revenue of 2.88B yuan, with motorcycle sales up 15.11% year over year.

It should be noted that some analysts pointed out that “competition in the intelligent driving track is intensifying, and only continuous and effective high R&D investment is the key for relevant companies to support the entire commercial blueprint in the future.” Financial data shows that last year Qianli Technology invested 822 million yuan in R&D expenses, up 102.13%.

Looking ahead to 2026, the current “15th Five-Year Plan” has included intelligent connected new-energy vehicles as a strategic emerging industry, emphasizing the directions of intelligence and connectivity, and the policy dividends for the sector continue to be released. Meanwhile, as the policy framework for intelligent connected vehicles keeps getting more complete, intelligent driving and intelligent cockpit technologies accelerated by AI as the core driver are rolling out faster. L2 and above intelligent driver assistance functions have achieved large-scale deployment in mainstream markets, while user awareness and acceptance continue to rise. In December last year, L3-level autonomous driving reached compliant public roads in multiple places ahead of schedule, signaling that the industry is evolving from technological mass accessibility toward higher levels, with the pace of intelligent vehicle development clearly accelerating.

The company’s plans are as follows: in 2026, it aims for its intelligent driving systems to cover more than 60 models from brands such as Zeekr, Galaxy, Lynk & Co, and Volvo; for its smart cockpit business, it will advance ASC200 product upgrade R&D and achieve large-scale mass production, focusing on tackling cooperation with top-tier customers and seizing the commanding heights of the high-end intelligent cockpit market; in its Robotaxi business, it will focus on piloting advantages first in the Sichuan-Chongqing region, deepen expansion across city tiers and application scenarios, optimize operational efficiency, and drive a closed-loop development across its business model.