Minsheng securities maintained Quectel Wireless Solutions Co.Ltd(603236) recommended rating: revenue and profit increased rapidly, and the layout of vehicle modules was accelerated

Minsheng securities released a research report on January 29, saying that it maintained the recommended rating of Quectel Wireless Solutions Co.Ltd(603236) (603236.sh, latest price: 187.8 yuan). The reasons for rating mainly include: 1) Q4 revenue exceeded expectations, and the net profit attributable to the parent company basically met expectations; 2) The prosperity of the cellular Internet of things module industry is rising. As a global leader, the company fully enjoys the dividend of the rapid development of the track; 3) Accelerate the layout of vehicle modules and make breakthroughs in product solutions. Risk tip: the competition in the Internet of things industry is intensifying; The development of vehicle networking industry is less than expected; PC expansion was less than expected.