Borqs Technologies

Borqs Technologies, Inc. is a global provider in embedded software and products for the Internet of Things (IoT) providing customizable, differentiated and scalable Android-based smart-connected mobile devices and E2E cloud-service solutions. It engages in the development of android platform solutions, hardware product, and mobile virtual network operator services. The firm operates through the following segments: Connected Solutions and Solar Poer Solutions. The company was founded by Sek Yuen Chan and Bo Li Xiao in 2007 and is headquartered in Beijing, China.

Borqs Technologies, Inc. engages in the provision of software, development services, and products for the Internet of Things (IoT) providing customizable, differentiated, and scalable Android-based smart-connected mobile devices and E2E cloud-service solutions. It operates through the following geographical segments: United States, India, China, and Rest of the World. The company was founded by Sek Yuen Chan and Bo Li Xiao in 2007 and is headquartered in Hong Kong.

Borqs Technologies (NASDAQ: BRQS ) stock is falling on Tuesday as investors react to a reverse stock split going into effect today. That reverse stock split has the company's Board of Directors approving the consolidation of 12 shares of BRQS stock into a single share.

Why Is Borqs Technologies (BRQS) Stock Down 8% Today?

SANTA CLARA, Calif., Oct. 06, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that its board of directors has approved a 1-for-12 reverse split of the Company's ordinary shares. The reverse stock split is anticipated to take effect on October 10, 2023 (the “Effective Date”).

Borqs Technologies Announces Reverse Stock Split

SANTA CLARA, Calif., Oct. 06, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that it has received multiple non-binding indications of interest for its stake in Holu Hou Energy LLC (“HHE”) and a selected group of potential buyers have been invited to participate in the second round of due diligence and negotiations for the complete divestment of the Company's interest in HHE.

Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC

SANTA CLARA, Calif., Oct. 03, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that it is actively engaged in business development with partners to manufacture smart IoT devices for the African market. The smart IoT devices, mainly mobile phones, will be leased to local users in Africa from a local leasing company. These devices are built with advanced security software to prevent fraud and theft.

Borqs Technologies is Expanding Its IoT Device Businesses in Africa Annual Potential Sales of $30 million

Executive Director of Finance, Mr. Anthony Chan, to Present at 5:00 p.m Eastern Time on Thursday, October 12th, 2023 Executive Director of Finance, Mr. Anthony Chan, to Present at 5:00 p.m Eastern Time on Thursday, October 12th, 2023

Borqs Technologies, Inc. to Present at the Eighth Annual Dawson James Conference

SANTA CLARA, Calif., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that together with Silicon Valley based SkyCentrics, Borqs will launch the next generation Modbus adaptor products in Q4 2023 and start commercial shipments to customers. The product is intended to be used by Smart Grid appliance manufacturers and OEMs in the U.S. to enable Demand Response signal delivery to and/or data acquisition from Modbus-enabled equipment such as water heating or thermostatic control systems. The products will support cellular and PoE connectivity and provide a certified CTA-2045 EcoPort and OpenADR 2.0b and 3.0 to the OEM, instantly enabling them for grid-interactivity.

Borqs Technologies and SkyCentrics Will Start Commercial Shipment of the Next Generation Modbus Adaptor in Q4 2023 for Smart Grid Appliance Manufacturers in the U.S.

SANTA CLARA, Calif., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that the Company received a deficiency notification letter from the Nasdaq Stock Market LLC (“Nasdaq”) on September 15, 2023, notifying the Company that the Company's listed securities did not maintain a minimum market value of $35 million (“MVLS”) for a period of 30 consecutive business days to meet the MVLS requirement.

Borqs Technologies Receives Nasdaq Notification Regarding Minimum Market Value Deficiency

SANTA CLARA, Calif., Sept. 19, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS; “Borqs” or “the Company”), will be presenting on October 5th, 2023, at the WallStreet Research / Global Capital Network / Med Tech Conference being held all day at the Hyatt Hotel in Newport Beach, California. The Company is a global leader in embedded software and products for the Internet of Things (IoT) industry.  The Company is also in the process of divesting its 49 percent stake in Holu Hou Energy LLC, (“HHE”), a solar energy + storage company that currently has the majority of its activities in Hawaii. HHE has recently signed a multi-year agreement for the installation of the HHE systems in 6,000 residential units at the Palm Island Community in Hawaii, and Borqs expects to receive potentially substantial cash proceeds from the divestiture. The sale of HHE is targeted to be completed by year-end of 2023, and the Company intends to use the proceeds for future acquisitions and possible share repurchases or to pay special dividends.

Borqs Technologies, Inc. to Present on October 5th at the WallStreet Research / Global Capital Network / Med Tech Conference in Newport Beach, CA.

SANTA CLARA, Calif., Sept. 11, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”) has just been awarded a “Speculative Buy” rating in the latest research report from WallStreet Research™. Six-month price targets range from $1.00 to $1.20 per share. The Company is a global leader in embedded software and products for the Internet of Things (IoT) industry. The report notes that Borqs is in the process of divesting its 49% stake in Holu Hou Energy, LLC (“HHE”) and has hired a large New York investment bank, whose team specializes in the solar energy industry, to finalize the terms of the expected sale of the Company's stake in HHE. The divestiture is expected to be completed by the end of 2023. The Company expects to earn potentially a nine-figure gain from the divestiture, which will be used for future acquisitions and possible share buybacks or to pay special dividends. WallStreet Research™ addresses the valuation of Borqs from a combination of its core-business and the expected divestiture of HHE.

Borqs Technologies, Inc. featured in an updated research report by WallStreet Research™ with a “Speculative Buy” Rating

SANTA CLARA, Calif., Aug. 22, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced the Committee on Foreign Investment in the United States (CFIUS) has granted the Company an extension from the original deadline of September 15, 2023 to January 1, 2024 to complete the divestment of its subsidiary, Holu Hou Energy LLC (HHE).

Borqs Technologies Received Extension from CFIUS for HHE Divestment, and Will Consider Share Buyback and/or Pay a Special Dividend

SANTA CLARA, Calif., July 17, 2023 (GLOBE NEWSWIRE) --  Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its plans to develop an AI-enabled smart watch as part of its expansion strategy into artificial intelligence (AI) for the U.S. market.

Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market

SANTA CLARA, Calif., July 06, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, with global operations in the U.S., India, and China, today announced that together with SkyCentrics, we have launched the next generation CTA-2045 ECOPORT communication products. The next-generation products are more price competitive and feature-rich than the current generation products and have significantly better cellular coverage with the use of internal and external antennas.

Borqs Technologies and SkyCentrics Will Start Commercial Shipment of Next Generation CTA-2045 ECOPORT Smart Control Products in Q3 2023 for “Electrification of Everything”

SANTA CLARA, Calif., June 07, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, announces that The Nasdaq Stock Market LLC (“Nasdaq”) has provided written notice dated June 2, 2023, that the Company is eligible for an extension until October 24, 2023, to regain compliance with Nasdaq's minimum $1 bid price requirement, as set forth in Nasdaq's Listing Rule 5550(a)(2) (the “Bid Price Rule”). The Company has explained to the Nasdaq Panel that the sale of our solar subsidiary, Holu Hou Energy LLC (“HHE”) may bring forth a significant liquidity position and can positively affect our stock price.

Borqs Technologies Receives Nasdaq Extension to Satisfy Minimum Bid Price Requirement

Dallas, Texas--(Newsfile Corp. - May 30, 2023) - Borqs Technologies Inc. (NASDAQ: BRQS): Stonegate Capital Partners updates their coverage on Borqs Technologies Inc. The full report can be accessed by clicking on the following link: https://stonegateinc.com/download/brqs-2h-2022/?wpdmdl=570&refresh=6476507693ecb1685475446 To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: Transition to AIoT is underway HHE divestiture already has potential buyer Strong cash position gives BRQS flexibility Click image above to view full announcement.

Stonegate Capital Partners Updates Coverage on Borqs Technologies Inc. (BRQS) 2H 2022

SANTA CLARA, Calif., May 15, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced its financial results for the year ended December 31, 2022.

Borqs Technologies Reports Annual Revenues of $52.5 million, an Increase of 77.7%, and Adjusted EBITDA of $4.8 million

SANTA CLARA, Calif., May 09, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions, has engaged Cantor Fitzgerald & Co. (“Cantor Fitzgerald”) as its exclusive financial advisor with respect to the divestment of the Company's ownership in Holu Hou Energy, LLC (“HHE”), a fast-growing solar energy and storage provider with unique solutions in energy sharing for the multi-dwelling residential market.

Borqs Technologies Engages Cantor Fitzgerald & Co. For the Divestment of Holu Hou Energy LLC

SANTA CLARA, Calif., May 03, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, or the “Company”) a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, announced that it received written notification from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company has not regained compliance with the minimum bid price of $1 required for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”).

Borqs Technologies Requests for Hearing regarding the $1 Minimum Bid Price Deficiency

SANTA CLARA, Calif., March 23, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, announced that the Company has appointed Donald R. Kendall, Jr. as the sole trustee (the “Trustee”) to a divestment trust established to manage the orderly divestment of Borqs' ownership of Holu Hou Energy, LLC, (“HHE”) as required by the Committee on Foreign Investment in the United States (“CFIUS”). Mr. Kendall has an extensive background of over four decades in investment management, including his role as the Chairperson of the Special Committee of the Board of Directors of SolarCity supervising the sale of SolarCity to Tesla, Inc. in 2016 for $2.6 billion.

Borqs Technologies Appoints Donald R. Kendall, Jr. as Trustee For the Divestment of its Solar Energy Storage System Subsidiary

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Borqs Technologies Advancing 2-Wheeler Smart Cluster Dashboard Into Attractive Taiwanese Market

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SANTA CLARA, Calif., March 08, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, announced that the Company has won a contract with a prominent North American company to develop and manufacture an Android 5G rugged waterproof handheld device to be deployed in industries such as agriculture, oil and mining, utilities and safety, etc. The device will feature a long-life 5G chipset that can be used until 2030. The Company has signed multiple contracts with the same customer to develop a suite of enterprise class rugged devices which will be launched initially in the North American and European markets, to be followed by other countries.

Borqs Technologies Wins a Project to Develop a 5G Rugged Handheld Device

SANTA CLARA, Calif., March 06, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless, Internet of Things (IoT) solutions, and innovative clean energy, today announced its preliminary revenue for the year ended December 31, 2022.

Borqs Announces Preliminary Revenue Results for 2022, Achieving over 79% YoY Growth

Borqs Technologies is a little-known player in the renewable energy, 5G networks, and Internet of Things markets, with a focus on India. It holds a 51% interest in a U.S.-based energy storage and solar panels company with a growing customer base.

Borqs Technologies' Stock May Skyrocket Due To This U.S. Government Demand

SANTA CLARA, Calif., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless, Internet of Things (IoT) solutions, and innovative clean energy, today announced the Company has received a letter dated December 13, 2022 (the “Letter”) from the Department of the Treasury on behalf of the Committee on Foreign Investment in the United States (“CFIUS”) stating that the Company is required to negotiate with CFIUS to fully divest its ownership interests and rights in Holu Hou Energy LLC (“HHE”) due to HHE solar energy storage system and EnergyShare technology for Multi-Dwelling Residential Units (“MDU's”) being deemed a critical technology and therefore a potential national security risk.

Borqs to Establish with the U.S. Government a Plan to Divest its Ownership of Holu Hou Energy Due to Deemed Critical Technology

SANTA CLARA, Calif., Dec. 08, 2022 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of 5G wireless, Internet of Things (IoT) solutions, and innovative clean energy, today announced its subsidiary, Holu Hou Energy (HHE), has received multiple purchase orders for its HoluPower xP solar energy storage systems for installation at homeowner locations in the Greater San Diego area in California. These orders represent the first for the Company in California.

News for Borqs Technologies Stock (BRQS)