Quectel Stocks Eligible for Trading under Shanghai-HK Stock Connect

PR83014

SHANGHAI, Feb. 25, 2020 /PRNewswire=KYODO JBN/ --

Quectel Wireless Solutions (603236.SS), the leading global supplier of cellular

and GNSS modules, announced today that the company has recently been selected

as a constituent of the Shanghai Stock Exchange (SSE) 380 Index and admitted to

the list of SSE securities eligible for trading under the Shanghai-Hong Kong Stock

Connect program. This allows international investors, both institutional and retail,

to trade Quectel's stocks via the Hong Kong Stock Exchange with the stock code 93236.

The Shanghai-Hong Kong Stock Connect program is a cross-boundary investment

platform that permits investors in each market to trade shares on the opposite

market using their local brokers and clearing houses. Under this program, only

those SSE-listed stocks of the SSE 180 Index and the SSE 380 Index as well as

shares that are dual-listed in the two bourses (A+H shares) are eligible.

Quectel was listed on the Main Board of the SSE on July 16th, 2019, which is

the largest stock exchange in China by market capitalization. On December 16th,

2019, the company was selected as a constituent of the SSE 380 Index, which

consists of 380 stocks with high growth rates and good profitability that aim

to comprehensively reflect the performance of the new Shanghai blue chips.

As the industry's largest IoT module vendor, Quectel has witnessed rapid growth

over the years through continuous innovations, an unrivaled portfolio, global

presence and excellent support services. In the first three quarters of 2019,

the company reported an operating income of 2.85 billion yuan (USD 406.62

million), up 53.32 percent on a yearly basis.

Quectel's stock closed at 244.41 yuan (USD 34.81) per share on February 21st,

2020, up 456% since its listing, amounting now to a total market cap of 21.80

billion yuan, or USD 3.10 billion.

The company is bullish on its future growth and has recently announced the

opening of new R&D centers in Hefei / China and Belgrade / Europe. Quectel

Wireless Solutions has become the global innovation leader, being the first to

launch IoT products for 5G, Low-Power-Wide-Area (connecting sensors in the

Internet-of-Things) and C-V2X technology, which is the communication base for

autonomous driving.

"We are committed to creating a better world through IoT and I am proud to see

this strong endorsement for Quectel. We shall remain focused in delivering the

best products and support to our customers." said Patrick Qian, CEO and

Chairman of Quectel.

About Quectel

Quectel Wireless Solutions is the leading global supplier of IoT modules, with a broad product

portfolio covering the most recent wireless technologies of 5G, LTE/LTE-A, NB-IoT/LTE-M,

UMTS/HSPA(+), GSM/GPRS and GNSS. Quectel products have been widely applied in

IoT/M2M fields including smart payment, telematics and transport, smart energy, smart cities,

security, wireless gateways, industry, healthcare, agriculture, and environment monitoring.

For more information, visit Quectel's website (https://www.quectel.com/ ),

LinkedIn (http://www.linkedin.com/company/quectel-wireless-solutions ),

Facebook (https://www.facebook.com/quectelwireless ) and

Twitter (https://twitter.com/Quectel_IoT ) pages, or email us via marketing@quectel.com.

Media Contact:

Ashley Liu

media@quectel.com

SOURCE: Quectel Wireless Solutions Co., Ltd.