Quectel Wireless Solutions Hits Day Low Amid Price Pressure, Now at CNY 97.01

Quectel Wireless Solutions Co. experienced a notable decline today, with the stock dropping by 5.84% as it reached an intraday low of CNY 97.01. This performance stands in contrast to the China Shanghai Composite, which saw a minor decrease of 0.19% on the same day. Over the past week, Quectel's stock has declined by 7.02%, while the broader market has shown a slight increase of 0.17%.
Despite today's downturn, Quectel has demonstrated strong performance metrics over the past year, boasting a remarkable 100.62% increase compared to the China Shanghai Composite's 20.88%. Year-to-date, the stock has risen by 42.81%, significantly outperforming the market's 16.04% gain.

The company's financial health remains robust, highlighted by a net profit growth of 67.68% reported in June. Quectel has consistently delivered positive results for four consecutive quarters, with a return on capital employed (ROCE) of 20.9% and an impressive interest coverage ratio of 2,344.45. The stock's market capitalization stands at CNY 26,672 million, reflecting its large-cap status in the electronics and appliances industry.