Quectel raises 2.2bn yuan in private placement for strategic growth

Quectel Wireless Solutions (SSE:603236) has concluded its 2025 private placement of A-shares, issuing 26,165,765 shares at a price of 85.21 yuan per share. The offering raised a gross amount of 2,229,584,835.65 yuan, with net proceeds totaling 2,219,926,105.91 yuan after deducting issuance costs. These funds are allocated towards key projects including car-mounted and 5G module expansion, AI computing module and AI solution industrialization, and headquarters base and research and development center upgrades, as well as supplementing working capital.

The private placement involved 14 investors, including institutional funds and individual investors, all of whom committed to a six-month lock-up period for their acquired shares. The issuance process adhered to regulatory requirements and received approval from the China Securities Regulatory Commission and the Shanghai Stock Exchange.

The capital infusion will enhance Quectel's financial strength, optimize its capital structure, and support continued expansion of its core businesses. The company confirms that the distribution of shares does not alter its control, with Qian Penghe remaining the actual controller.