Company Stock Code: 603236.SS
English Short Name of the Company: Quectel

Quectel Wireless Solutions Co., Ltd.
2023 Semi-Annual Financial ReportContentsContents ...................................................................................................................................................... 1
1.

Main Accounting Data and Financial Indicators ............................................................................. 2
1.1. Main Accounting Data ................................................................................................................ 2
1.2. Main Financial Indicators ........................................................................................................... 22.

Financial Reports ................................................................................................................................ 2
Consolidated Balance Sheet ......................................................................................................... 2
Consolidated Income Statement ................................................................................................... 4
Consolidated Cash Flow Statement .............................................................................................. 5

Building 5, Shanghai Business Park Phase III (Area B), No.1016 Tianlin Road, Minhang District, Shanghai 200233, China

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page 1

1. Main Accounting Data and Financial Indicators
1.1. Main Accounting Data
Reporting Period(January–June 2023)

Main Accounting Data
Operating Revenues
Net Profit Attributable to
Shareholders of the Company
Net Profit Attributable to
Shareholders of the Company
after Deducting Non-recurring
Gains and Losses
Net Cash Flow from Operating
Activities

YOY Growth (%)

6,511,850,624.80

6,688,756,815.66-2.64-115,373,422.21

276,707,538.94-141.70-154,664,592.83

255,067,106.08-160.64

155,619,715.65

638,164,718.89-75.61

End of the Reporting
PeriodNet Assets Attributable toShareholders of the Company
Total Assets

Same Periodof Last YearEnd of Last Year

YOY Growth (%)

3,431,950,434.85

3,720,246,850.43-7.75

10,968,233,993.14

10,273,173,226.84

6.77

1.2. Main Financial Indicators
Reporting Period(January–June 2023)

Same Periodof Last Year

-0.44

1.05

-141.90

-0.44

1.05

-141.90

-0.58

0.96

-160.42

Weighted Average ROE (%)-3.15

8.27Decreased by 11.42
percentage point

Weighted Average ROE After
Deducting Non-Recurring Gainsand Losses (%)

-4.22

7.62

Decreased by 11.84
percentage point

Main Financial Indicators
Basic Earnings per Share(Yuan/Share)
Diluted Earnings per Share(Yuan/Share)
Basic Earnings per Share After
Deducting Non-Recurring Gainsand Losses (Yuan/Share)

YOY Growth (%)

2. Financial Reports
Consolidated Balance Sheet
June 30, 2023
Name of enterprise: Quectel Wireless Solutions Co., Ltd

Unit: Yuan Currency: RMB

Items

June 30, 2023

December 31, 2022

Current Assets:
Cash and cash equivalents

1,965,973,548.76

2,198,895,359.92

42,547,946.15

23,045,661.96

Financial Assets Held for Trading

Building 5, Shanghai Business Park Phase III (Area B), No.1016 Tianlin Road, Minhang District, Shanghai 200233, China

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Bills Receivable

426,554,539.80

288,267,958.90

1,614,884,868.09

2,056,369,637.41

Accounts Receivable Financing

226,628,192.24

174,832,161.40

Prepayments

260,106,515.98

129,472,748.21

Other Receivables

101,480,625.67

153,516,286.09

3,644,189,188.22

3,013,664,013.65

98,271,170.59

262,702,212.20

8,380,636,595.50

8,300,766,039.74

39,345,688.68

39,419,091.42

37,790,970.44

51,462,716.57

1,195,302,181.30

1,219,128,608.85

5,294,234.90

98,395,710.59

Right-of-Use Assets

767,860,624.73

59,978,502.25

Intangible Assets

409,984,599.47

377,596,657.61

Long-term Deferred Expenses

65,449,784.14

72,409,305.53

Deferred Tax Assets

19,938,189.54

20,840,892.42

Other Non-current Assets

46,631,124.44

33,175,701.86

2,587,597,397.64

1,972,407,187.10

10,968,233,993.14

10,273,173,226.84

1,639,103,275.55

2,015,119,188.34

381,243,362.02

697,435,647.79

Accounts Payable

2,683,349,958.12

2,011,631,628.07

Contract Liabilities

163,787,892.95

177,471,576.39

Employee Salaries Payable

240,456,424.12

315,636,100.31

Taxes Payable

21,172,426.73

61,614,708.04

Other Payables

16,082,407.21

18,839,950.03

Non-current Liabilities Maturing within One Year76,979,070.37

83,885,465.14

Other Current Liabilities

258,953,430.07

143,555,751.60

5,481,128,247.14

5,525,190,015.711,323,092,584.67

973,030,925.90

Lease Liabilities

714,164,336.28

31,071,394.76

Deferred Revenues

21,409,682.24

24,164,076.94

2,058,666,603.19

1,028,266,397.60

7,539,794,850.33

6,553,456,413.31

Share Capital

264,574,906.00

188,982,076.00

Capital Reserve

2,098,883,543.87

2,172,856,355.00-41,170,775.37-55,182,836.66

Accounts Receivable

Inventories
Other Current Assets
Total Current Assets
Non-current Assets
Long-term Equity Investments
Other Equity Instrument Investments
Fixed Assets
Construction in Progress

Total Non-current Assets
Total Assets
Current Liabilities
Short-term Borrowings
Notes Payable

Total Current Liabilities
Non-current Liabilities:
Long-term Borrowings

Total Non-current Liabilities
Total Liabilities
Shareholders’ Equity

Other Comprehensive Income
Special Reserve

Building 5, Shanghai Business Park Phase III (Area B), No.1016 Tianlin Road, Minhang District, Shanghai 200233, China

432,787.92

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Surplus Reserve

142,865,339.97

142,865,339.97

Undistributed Profit

966,364,632.46

1,270,725,916.12

3,431,950,434.85

3,720,246,850.43

Minority Shareholders’ Interest-3,511,292.04-530,036.90

Total Shareholders’ Equity

3,428,439,142.81

3,719,716,813.53

10,968,233,993.14

10,273,173,226.84

Total Equity Attributable to Parent Company

Total Liabilities and Shareholders’ Equity

Consolidated Income Statement
January to June, 2023
Unit: Yuan Currency: RMB
Items

Half Year of 2023

Half Year of 2022

I. Revenue

6,511,850,624.80

6,688,756,815.66

Including: Operating revenue

6,511,850,624.80

6,688,756,815.66

II. Total Operating Costs

6,656,992,516.53

6,406,764,869.37

Including: Operating costs

5,367,882,197.25

5,422,176,103.61

5,362,807.72

7,763,269.51

Selling expenses

228,511,196.33

215,415,699.92

Administrative expenses

206,447,750.57

125,023,670.35

Research and development expenses

832,285,970.96

582,454,268.31

Finance expenses

16,502,593.70

53,931,857.67

Including: Interest expenses

45,821,514.83

22,238,308.70

10,217,438.56

1,194,024.19

16,026,476.15

28,005,098.48

6,281,969.33

21,213.93

16,694.68

21,213.93

Fair value gains (loss expressed with "-")19,502,284.19-1,616,465.55

Credit impairment losses(loss expressed with "-")

7,851,958.75-2,297,501.24

Asset impairment losses(loss expressed with "-")

-19,435,546.32-32,197,869.94-34,450.37

302,890.15-114,949,200.00

274,209,312.12

Add: Non-operating income

1,313,324.69

1,364,406.64

Subtract: Non-operating expenses

3,778,055.87

1,545,075.29-117,413,931.18

274,028,643.47

940,746.17-3,552,797.08-118,354,677.35

277,581,440.55-118,354,677.35

277,581,440.55

Taxes and surcharges

Interest income
Add: Other income
Investment income (loss expressed with "-")
Including: Investment income from associates
and joint ventures

Gains/loss on asset disposal(loss expressed with "-")
III. Operating Profit (loss expressed with "-")

IV. Total Profit (loss expressed with "-")
Subtract: Income tax expenses
V. Net Profit (loss expressed with "-")
A. Classification by business continuity
1. Net profit from continuing operations (lossexpressed with "-")
B. Classification by ownership

Building 5, Shanghai Business Park Phase III (Area B), No.1016 Tianlin Road, Minhang District, Shanghai 200233, China

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1. Net profit attributable to shareholders of parentcompany (loss expressed with "-")

-115,373,422.21

276,707,538.94

2. Minority interest (loss expressed with "-")

-2,981,255.14

873,901.61

VI. Other Comprehensive Income (net of tax)

14,012,061.29-7,849,469.67

Net after-tax other comprehensive income attributableto owners of the parent company

14,012,061.29-7,849,469.67

1. Other comprehensive income that cannot bereclassified into profit or loss

16,328,253.87-7,141,314.00

Changes in fair value of other equity instrument
investments

16,328,253.87-7,141,314.00

2. Other comprehensive income to be reclassified
to profit or loss

-2,316,192.58-708,155.67

Differences in translation of foreign currency financial
statements-2,316,192.58-708,155.67

VII. Total Comprehensive Income-104,342,616.06

269,731,970.88

A. Total comprehensive income attributable toshareholders of the parent-101,361,360.92

268,858,069.27-2,981,255.14

873,901.61

A. Basic earnings per share (Yuan/share)

-0.44

1.05

B. Diluted earnings per share (Yuan/share)

-0.44

1.05

B. Total comprehensive income attributable to minority
shareholders
VIII. Earnings per Share

Consolidated Cash Flow Statement
January to June, 2023
Unit: Yuan Currency: RMB
Items

Half year of 2023

Half year of 2022

I. Cash Flows from Operating Activities
Cash received from sales of goods or rendering ofservices

6,435,443,879.70

6,998,742,986.59

Refunds of taxes

434,079,144.56

489,786,646.79

Cash received from other operating activities

21,502,659.60

54,888,840.15

6,891,025,683.86

7,543,418,473.53

Cash paid for goods and services

5,368,626,090.42

5,960,867,111.28

Cash paid to and on behalf of employees

1,118,407,991.17

736,719,678.46

5,220,133.08

42,454,393.26

243,151,753.54

165,212,571.64

Sub-total of cash outflows from operating activities

6,735,405,968.21

6,905,253,754.64

Net Cash Flows from Operating Activities

155,619,715.65

638,164,718.89

Sub-total of cash inflows from operating activities

Cash paid for all types of taxes
Cash paid for other operating activities

II. Cash Flows from Investing Activities
Cash received from returns on investments
Cash received from investment incomes

Building 5, Shanghai Business Park Phase III (Area B), No.1016 Tianlin Road, Minhang District, Shanghai 200233, China

30,000,000.00
90,097.42

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50,000.00

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Net cash received from the disposal of fixed assets,intangible assets and other long-term assets

41,214.60

110,199.97

Sub-total of cash inflows from investing activities

30,131,312.02

160,199.97

Cash paid for the purchase and construction of fixedassets, intangible assets and other long-term assets149,916,651.37

134,526,438.47

Cash paid for the acquisition of investment

34,999,973.00

Cash paid for other investing activities

41,640,000.00

Sub-total of cash outflows from investing activities

149,916,651.37

211,166,411.47

Net Cash Flows from Investing Activities-119,785,339.35-211,006,211.50

III. Cash Flows from Financing Activities
Cash received by absorbing investments

1,917,165.65

Cash received from borrowings

735,388,651.54

704,948,915.32

735,388,651.54

706,866,080.97

767,319,248.05

783,150,683.57

246,389,537.44

86,303,675.61

21,141,109.62

24,866,600.58

Sub-total of cash outflows from financing activities

1,034,849,895.11

894,320,959.76

Net Cash Flows from Financing Activities-299,461,243.57-187,454,878.79

30,705,056.11

35,777,141.92

V. Net Increase in Cash and Cash Equivalents-232,921,811.16

275,480,770.52

Add: Balance of cash and cash equivalents at thebeginning of the Reporting Period

2,198,795,359.92

1,133,008,786.50

VI. Balance of Cash and Cash Equivalents at theEnd of the Reporting Period

1,965,873,548.76

1,408,489,557.02

Sub-total of cash inflows from financing activities
Cash repayments of borrowings
Cash paid for distribution of dividends, profits or forinterest expenses
Other cash paid related to financing activities

IV. Effect of Exchange Rate Fluctuation on Cashand Cash Equivalents

Building 5, Shanghai Business Park Phase III (Area B), No.1016 Tianlin Road, Minhang District, Shanghai 200233, China

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