Quectel Wireless Solutions Co.,Ltd. Posted 118.4 Million Yuan Net Loss in First Half of 2023

Quectel Wireless Solutions Co.,Ltd. (上海移远通信技术股份有限公司) (603236.SH) reported a net loss of 118.4 million yuan in the first half of 2023, reversing a net profit of 277.6 million yuan for the same period in the previous year.

Meanwhile, the company posted 6.5 billion yuan in revenue, down 2.6% year-on-year.

At the end of the reporting period, it had 11 billion yuan in total assets and 7.5 billion yuan in total liabilities, with a liability-to-asset ratio of 68.7%.