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

Quectel Wireless Solutions Co., Ltd.
2023 Q3 Financial Statement

ContentsContents ...................................................................................................................................................... 1
1.

Q3 Accounting Data and Financial Indicators ................................................................................. 22.

Q3 Financial Statement ...................................................................................................................... 3
Consolidated Balance Sheet ................................................................................................................ 3
Consolidated Income Statement........................................................................................................... 5
Consolidated Cash Flow Statement ..................................................................................................... 7

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. Q3 Accounting Data and Financial Indicators
Unit: Yuan Currency: RMB
Within the Same Period of Last Year

Items

OperatingRevenues
Net Profit
Attributable toShareholdersof theCompany
Net Profit
Attributable toShareholdersof theCompany
after
DeductingNon-recurring
Gains andLosses
Net Cash
Flow fromOperating
Activities
Basic
Earnings perShare(Yuan/Share)
DilutedEarnings perShare(Yuan/Share)
Weighted
Average ROE(%)

From theBeginning ofThis Year to the
End of theReporting Period

Within the Same Period of Last Year

YOY Growth(%)

Before theAdjustment as perthe Latest Chinese
AccountingStandards

After theAdjustment asper the Latest
ChineseAccountingStandards

After theAdjustment as
per the Latest
ChineseAccountingStandards

Before theAdjustment as
per the Latest
ChineseAccountingStandards

After theAdjustment as
per the Latest
ChineseAccountingStandards

3,454,944,994.47

3,447,484,054.44

3,447,484,054.44

0.22

9,966,795,619.27

10,136,240,870.10

10,136,240,870.10-1.67

97,348,787.67

158,810,142.60

158,617,375.71-38.63-18,024,634.54

435,517,681.54

435,146,523.88-104.14

89,685,342.64

75,998,783.88

75,806,016.99

18.31-64,979,250.19

331,065,889.96

330,694,732.30-119.65

Inapplicable

Inapplicable

Inapplicable

Inapplicable364,218,208.57

360,672,827.00

360,672,827.00

0.98

0.37

0.60

0.60

-38.33

-0.07

1.65

1.64

-104.27

0.37

0.60

0.60

-38.33

-0.07

1.65

1.64

-104.27

2.80

4.60

4.59

-0.49

12.93

Within theReporting Periodof This Year

10,705,645,091.18

10,273,173,226.84

10,273,167,441.39

13.19
percentage
decrease
YOY Growth (%)
After the Adjustment as per theLatest Chinese AccountingStandards
4.21

3,507,297,674.18

3,720,246,850.43

3,720,241,064.98-5.72

By the End of theReporting Period
Total Assets
Owner's
EquityAttributable toShareholdersof theCompany

YOY Growth(%)
After theAdjustment
as per theLatest
ChineseAccountingStandards

1.79
percentage
decrease
By the End of Last Year

Before the Adjustment as per the Latest Chinese
Accounting Standards

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

After the Adjustment as per the Latest
Chinese Accounting Standards

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12.70

page 22. Q3 Financial StatementConsolidated Balance Sheet
September 30, 2023
Name of enterprise: Quectel Wireless Solutions Co., Ltd
Unit: Yuan Currency: RMB
Items

September 30, 2023

December 31, 2022

Current Assets:
Cash Funds

2,055,714,590.04

Financial Assets Held for Trading
Bills Receivable

2,198,895,359.92
23,045,661.96

380,984,602.07

288,267,958.90

1,625,745,400.46

2,056,369,637.41

Accounts Receivable Financing

278,697,024.38

174,832,161.40

Prepayments

249,396,358.68

129,472,748.21

Other Receivables

98,758,502.51

153,516,286.09

3,222,860,091.203,013,664,013.65

186,192,606.40

262,702,212.20

8,098,349,175.74

8,300,766,039.74

Long-term Equity Investments

39,356,633.56

39,419,091.42

Other Equity Instrument Investments

30,588,251.81

51,462,716.57

1,188,653,301.48

1,219,128,608.85

Construction in Progress

43,253,814.33

98,395,710.59

Right-of-Use Assets

754,124,774.51

59,978,502.25

Intangible Assets

420,591,245.12

377,596,657.61

Long-term Deferred Expenses

64,253,903.05

72,409,305.53

Deferred Tax Assets

26,263,258.00

20,835,106.97

Other Non-current Assets40,210,733.58

33,175,701.86

2,607,295,915.44

1,972,401,401.65

10,705,645,091.18

10,273,167,441.39

1,230,114,129.15

2,015,119,188.34

604,706,665.19

697,435,647.79

Accounts Payable

2,559,385,402.60

2,011,631,628.07

Contract Liabilities

245,762,045.50

177,471,576.39

Employee Salaries Payable

210,836,533.27

315,636,100.31

Taxes Payable

13,558,847.68

61,614,708.04

Other Payables

15,479,699.62

18,839,950.03

Non-current Liabilities Maturing within One Year72,775,923.12

83,885,465.14

Other Current Liabilities283,673,002.65

143,555,751.60

5,236,292,248.78

5,525,190,015.71

Accounts Receivable

Inventories
Other Current Assets
Total Current Assets
Non-current Assets

Fixed Assets

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

Total Current Liabilities

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

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Non-current Liabilities:
Long-term Borrowings

1,467,669,199.59

973,030,925.90

Lease Liabilities478,348,900.23

31,071,394.76

Deferred Revenues

20,218,628.09

24,164,076.94

1,966,236,727.91

1,028,266,397.60

7,202,528,976.69

6,553,456,413.31

Share Capital

264,574,906.00

188,982,076.00

Capital Reserve

2,105,868,638.55

2,172,856,355.00

Total Non-current Liabilities
Total Liabilities
Shareholders’ Equity

Subtract: Treasury Stock

20,848,388.78

Other Comprehensive Income-49,475,846.89-55,182,836.66

Special Reserve599,605.20

Surplus Reserve

142,865,339.97

142,865,339.97

Undistributed Profit

1,063,713,420.13

1,270,720,130.67

Total Equity Attributable to Parent Company

3,507,297,674.18

3,720,241,064.98

Minority Shareholders’ Interest-4,181,559.69-530,036.90

Total Shareholders’ Equity

3,503,116,114.49

3,719,711,028.08

10,705,645,091.18

10,273,167,441.39

Total Liabilities and Shareholders’ Equity

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

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Consolidated Income Statement
From January to September, 2023
Name of enterprise: Quectel Wireless Solutions Co., Ltd
Unit: Yuan Currency: RMB
First Three Quartersof 2023
(From January toSeptember)First ThreeQuarters of 2022
(From January toSeptember)

I. Revenue

9,966,795,619.27

10,136,240,870.10

Including: Operating revenue

9,966,795,619.27

10,136,240,870.10

II. Total Operating Costs

10,036,386,955.42

9,758,319,188.78

Including: Operating costs

8,136,309,169.14

8,190,779,292.89

8,147,989.36

7,204,978.02

Selling expenses

321,369,672.09

338,622,082.39

Administrative expenses

319,610,541.29

212,641,378.20

1,203,632,658.85945,553,714.28

Finance expenses

47,316,924.69

63,517,743.00

Including: Interest expenses

70,759,694.56

28,022,163.50

14,081,049.65

2,021,923.15

20,869,912.73

43,956,393.40

51,919,575.98

40,314,590.32

27,639.56

5,673.87-23,045,661.96

37,862,431.70

Credit impairment losses(loss expressed with "-")

7,075,885.78-4,860,367.72

Asset impairment losses(loss expressed with "-")

-11,511,648.31-65,922,312.30-61,965.82

286,920.60-24,345,237.75

429,559,337.32

Add: Non-operating income

2,298,335.25

3,024,658.12

Subtract: Non-operating expenses

4,997,748.24

1,579,688.09-27,044,650.74

431,004,307.35-5,268,493.42-4,809,725.85-21,776,157.32

435,814,033.20-21,776,157.32

435,814,033.20-18,024,634.54

435,146,523.88

Items

Taxes and surcharges

Research and development expenses

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

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
1. Net profit attributable to shareholders of parent

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

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

-3,751,522.78667,509.32

VI. Other Comprehensive Income (net of tax)

5,706,989.77-22,795,155.13

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

5,706,989.77-22,795,155.13

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

9,125,535.24-14,491,941.60

Changes in fair
instrument investments

9,125,535.24-14,491,941.60

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

-3,418,545.47-8,303,213.53

Differences in translation of foreign currency
financial statements-3,418,545.47-8,303,213.53

VII. Total Comprehensive Income-16,069,167.55

413,018,878.07

A. Total comprehensive income attributable toshareholders of the parent company-12,317,644.77

412,351,368.75

B. Total comprehensive income attributable to minority
shareholders-3,751,522.78

667,509.32

A. Basic earnings per share (Yuan/share)

-0.07

1.64

B. Diluted earnings per share (Yuan/share)

-0.07

1.64

value ofotherequity

VIII. Earnings per Share

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

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Consolidated Cash Flow Statement
From January to September, 2023
Name of enterprise: Quectel Wireless Solutions Co., Ltd
Unit: Yuan Currency: RMB
First Three
Quarters of 2023
(From January toSeptember)First Three
Quarters of 2022
(From January toSeptember)

10,230,631,993.60

10,211,454,492.16

Refunds of taxes

696,863,256.44

666,409,953.73

Cash received from other operating activities

37,249,297.64

82,139,560.48

Sub-total of cash inflows from operating activities

10,964,744,547.68

10,960,004,006.37

Cash received from sales of goods or rendering ofservices

8,712,230,211.28

9,180,148,486.08

1,497,902,509.80

1,104,874,118.01

Cash paid for all types of taxes

20,668,380.71

69,485,621.93

Cash paid for other operating activities

369,725,237.32

244,822,953.35

Sub-total of cash outflows from operating activities

10,600,526,339.11

10,599,331,179.37

Net Cash Flows from Operating Activities

364,218,208.57

360,672,827.00

Items

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

Cash paid to and on behalf of employees

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

30,500,000.00

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

90,097.42

50,000.00

51,690.75

110,199.97

Cash received from other investment activities

41,640,000.00

Sub-total of cash inflows from investing activities

30,641,788.17

41,800,199.97

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

195,810,121.91

395,658,735.30

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

195,810,121.91

472,298,708.30

Net Cash Flows from Investing Activities-165,168,333.74-430,498,508.33

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

2,315,772.83

Including: Cash received by absorbing investments ofminority shareholders
Cash received from borrowings
Sub-total of cash inflows from financing activities

2,315,772.83
1,267,257,710.61

1,489,141,700.38

1,267,257,710.61

1,491,457,473.21

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

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page 7Cash repayments of borrowings

1,309,553,621.40

1,218,956,564.12

271,248,020.51

125,594,156.85

57,308,516.96

34,103,966.27

Sub-total of cash outflows from financing activities

1,638,110,158.87

1,378,654,687.24

Net Cash Flows from Financing Activities-370,852,448.26

112,802,785.97

IV. Effect of Exchange Rate Fluctuation on Cash andCash Equivalents

28,621,803.55

85,725,519.80

V. Net Increase in Cash and Cash Equivalents-143,180,769.88

128,702,624.44

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 by the Endof the Reporting Period

2,055,614,590.04

1,261,711,410.94

Cash paid for distribution of dividends, profits or forinterest expenses
Other cash paid related to financing activities

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

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