Cellular & GNSS Module Supplier Quectel IPOs on the Shanghai Stock Exchange

Quectel Wireless Solutions, a supplier of cellular and GNSS modules, has announced that the company has listed its initial public offering (IPO) of 22,300,000 shares of common stock at RMB 43.93 per share on the main board of Shanghai Stock Exchange. Proceeds of the IPO will be mainly used to expand the Company's 5G, high-speed LTE and LPWA product portfolio, and build R&D and technical support centers, which will greatly enhance its competitiveness to secure continuous and stable growth.

A group of four people including Patrick Qian, Quectel Chairman and CEO, Wang Hongwei, Deputy Governor of Shanghai's Xuhui District, Doron Zhang, Quectel Board Member and SVP, and Norbert Muhrer, Quectel SVP of Global Sales jointly rang the opening bell at Shanghai Stock Exchange on Tuesday morning, marking a major milestone in the journey of 'Building a Smarter World' that started when the Company was founded in 2010.

Quectel is working towards becoming the greatest module supplier in the world so that it can provide the best products and services to customers in the IoT Industry. They have been focusing on cellular and GNSS modules and have already built up one of the industry's broadest product portfolios covering 5G, LTE/LTE-A, NB-IoT/LTE-M, C-V2X, Android Smart, 3G, 2G and GNSS modules. These products have enabled IoT connections for over 5,000 enterprise customers in more than 150 countries and regions in the fields such as wireless payment, telematics and transportation, smart energy, smart city, security, wireless gateway, industry, life & healthcare, and agriculture & environment monitoring.