Recently, Quectel Wireless Solutions made a public announcement stating that it had obtained the "Approval on the Registration of Private Placement of Shares by Shanghai Quectel Wireless Solutions Co., Ltd." (CSRC Permit No. [2025] 2184) from the China Securities Regulatory Commission. This approval signifies the official green - light for its registration application regarding the private placement of shares. In Western financial contexts, regulatory approvals like this are crucial milestones, similar to how the SEC (U.S. Securities and Exchange Commission) approvals are highly significant in the United States.

As per the announcement, Quectel Wireless Solutions intends to raise a maximum of RMB 2.3 billion in funds. These funds are earmarked for specific projects. For instance, the expansion of automotive and 5G module production is a strategic move, considering the rapid growth of the automotive industry's demand for advanced connectivity solutions and the ever - expanding 5G market. The industrialization of AI computing power modules and AI solutions is also a key area, as AI is becoming increasingly integrated into various industries. Additionally, the upgrading of the headquarters base and R&D center will enhance the company's research and development capabilities, enabling it to stay competitive in the fast - paced tech market. Lastly, the projects aimed at supplementing working capital will ensure the smooth operation of the company's day - to - day business activities.