Quectel
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⚠ Disclaimer: This entry may be incomplete, out of date, or inaccurate. It is AI-maintained on a best-effort basis. Do not rely on it as a sole source — verify claims independently using the sources listed below.

Note: This company is Chinese-owned. Performance claims and publicly reported figures should be treated with additional skepticism until independently verified by non-affiliated third parties.

Summary

Quectel Wireless Solutions (Shanghai: 603236) makes cellular and GNSS modules that robot, drone and IoT makers solder onto their boards for connectivity. It reported H1 2026 operating revenue of RMB 15.26B (+32.16%) and net profit attributable to shareholders of RMB 602.3M (+27.84%), with negative operating cash flow of RMB 378M. IoT Analytics put it at about 40% of global cellular IoT module shipments in Q1 2025, with shipments up 31%. On 2025-01-06 the Pentagon added it to the Section 1260H list; the designation does not itself impose sanctions, and Quectel said it expects to be removed.

Key Facts

  • HQ: No. 8 Waipojing Road, Sijing Town, Songjiang District, Shanghai
  • Ticker: 603236.SS (Shanghai)
  • H1 2026: revenue RMB 15,259M (+32.16%); net profit attributable RMB 602.3M (+27.84%); basic EPS RMB 1.49; weighted ROE 8.38%
  • Market share: about 40% of global cellular IoT module shipments, Q1 2025 (IoT Analytics); rivals China Mobile 15%, Fibocom 8%, Sunsea AIoT 5%, Telit Cinterion 4%
  • 1260H: added 2025-01-06 among 134 entities; Quectel stated on 2025-01-07 it was “confident that we will be removed”
  • US localization: licensed manufacturing technology and reference designs to Eagle Electronics, an Ohio startup (IoT Analytics)
  • Value chain position: component supplier of connectivity modules

What It Is / How It Works

A cellular module integrates modem, RF front end and interfaces so a device maker can add LTE or 5G without designing the radio. Robots, drone ground stations and fleet systems use them for cloud links, positioning and updates. Once a product is certified with a module, switching requires re-engineering and recertification, which is the lock-in effect behind volume leadership.

Security concern. US scrutiny is structural: PRC law can compel cooperation with state agencies, and a module sees device location and connectivity. IoT Analytics reports Western device makers running risk assessments, dual-sourcing and in some cases redesigning. No public evidence of backdoors was found in the sources reviewed; Quectel denies military ties.

Vendor landscape. IoT Analytics notes u-blox exited cellular modules, transferring the unit to Trasna on 2025-06-06 (about 1.2% of shipments), and Telit Cinterion is the only Western vendor in the top five.

Notable Developments

  • 2026-08: H1 2026 report: revenue +32.16%. (Quectel)
  • 2025-06-06: u-blox cellular unit transferred to Trasna. (IoT Analytics)
  • 2025-01-07: Quectel responds to its 1260H listing. (IoT Analytics)
  • 2025-01-06: DoD adds Quectel to the 1260H list. (IoT Analytics)

Key People

Leadership names were not available in the sources fetched (the H1 2026 report excerpt did not name the chairman or general manager).

People — Last Reviewed: 2026-10-25

Supply Chain Position

Quectel sells modules to device OEMs and integrators. Chipset sourcing was not confirmed in the sources reviewed. ⚑ Shared exposure: the 1260H listing flags it as a potential military end user under export regulations, raising compliance scrutiny for US buyers.

Claim Verification

Claim: About 47% global module unit share (2024)

Status: Partially verified

Supporting sources:

Refuting / questioning sources:

  • The 46.6% 2024 figure from an earlier source was not re-verified, and tracker methodologies differ.

Summary: Roughly 40% is the latest sourced figure.

Claim: Listed on the 1260H list

Status: Verified

Supporting sources:

Refuting / questioning sources:

  • Inclusion does not automatically trigger sanctions; Quectel contests it.

Summary: Listing confirmed; effects are compliance and procurement scrutiny.

Sources

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