Quectel Wireless Solutions Co.,Ltd.’s Net Profit Rose 104.5% in First Quarter of 2022

Quectel Wireless Solutions Co.,Ltd. (上海移远通信技术股份有限公司) (603236.SH) reported a net profit of 123.8 million yuan in the first quarter of 2022, up 104.5% year-on-year.

Meanwhile, the company posted 3.1 billion yuan in revenue, up 64.7% year-on-year.

At the end of the reporting period, it had 8.7 billion yuan in total assets and 5.4 billion yuan in total liabilities, with a liability-to-asset ratio of 61.9%.