Chongqing Qianli Technology (SHA:601777) plans to grant the intellectual property rights of a vehicle model under development to a unit of Geely Automobile (HKG:0175), according to a Shanghai bourse filing on Friday.
The Chinese automobile manufacturer, through subsidiary Chongqing Ruilan Automobile Manufacturing, will transfer the rights of the P658 project to Ningbo Geely Automobile Research and Development for 345.2 million yuan.
Qianli's shares rose over 1% during midday trade.
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