Quectel Wireless Solutions Co., Ltd. (SHSE:603236) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 120 million worth of its shares. The shares will be repurchased at a price of not more than CNY 69.50 per share.

The purpose of the program is to safeguard the company?s value and shareholders? rights. The shares repurchased by the company will be sold in accordance with relevant regulations.

The plan will be valid for 3 months from the Board of Directors' approval.