reports
Borqs Technologies Completed Cash Sale of Core Businesses To Sasken Te...
Borqs Technologies Completed Cash Sale of Core Businesses To Sasken Technologies of India HONG KONG, April 14, 2025 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (U.S. OTC: BRQSF, “Borqs” or the “Company”) today announced that it has completed the sale of its core businesses to Sasken Technologies, Ltd. (India NSE: SASKEN, BSE: 532663, “Sasken”), a leading global product engineering and digital transformation services company based in India. Included in the sale were all of the Company’s embedded software design and customized hardware manufacturing of products for the Internet of Things (...
Borqs Technologies Reports Half-Year 2024 Financial Results; Successfu...
Borqs Technologies Reports Half-Year 2024 Financial Results; Successfully Increases Efficiency SANTA CLARA, Calif., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (U.S. OTC: BRQSF, “Borqs” or the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today announced its financial results for the first half of 2024. Interim financial statements were filed today with the SEC. First-Half 2024 Financial Highlights For the six months ended June 30, 20242023vs. H1 2023 Revenues ($K)16,77314,992+ 11.9%Gross Margin20.2...
Borqs Technologies’ Capital Structure to be Revamped by Recently Annou...
Borqs Technologies’ Capital Structure to be Revamped by Recently Announced Sale of Business SANTA CLARA, Calif., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (U.S. OTC: BRQSF, “Borqs” or the “Company”) a global provider of embedded software and products for the Internet of Things (IoT) announced on November 11, 2024, that the Company intends to sell its hardware and software business to Sasken Technologies, Inc. by the end of this calendar year. The total consideration, inclusive of earn-outs, management incentives, and other payouts, shall not exceed US$40 million. Earnouts...
Sasken to acquire Borqs Technologies Inc’s Business to Expand Capabili...
Sasken to acquire Borqs Technologies Inc’s Business to Expand Capabilities and Market Reach HONG KONG, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Sasken Technologies Limited (India NSE: SASKEN, BSE: 532663, “Sasken”), a leading global product engineering and digital transformation services company based in India announced today the intent to acquire hardware and software services business of Borqs Technologies, Inc. (U.S. OTC: BRQSF, “Borqs”) a global provider of embedded software and products for the Internet of Things (IoT). This strategic move is aligned with Sasken’s 60x4x3 strategy to drive ...
Borqs Technologies Announces Reverse Stock Split
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 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”). Accordingly, at the Effective Date, every twelve of the Company’s ordinary shares issued and outstanding will be automatically converte...
Borqs Technologies Shortlists Buyers for the Second Round of Due Dilig...
Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC 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 comp...
Borqs Technologies is Expanding Its IoT Device Businesses in Africa An...
Borqs Technologies is Expanding Its IoT Device Businesses in Africa Annual Potential Sales of $30 million 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 s...
Borqs Technologies Announces Reverse Stock Split
Borqs Technologies Announces Reverse Stock Split SANTA CLARA, Calif., Sept. 29, 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 for the Company's common stock. The reverse stock split is anticipated to take effect on October 10, 2023. Accordingly, at the effective date, every twelve issued and outstanding shares of the Company's common stock will be converted into one share of the Compan...
Borqs Technologies, Inc. to Present at the Eighth Annual Dawson James ...
Borqs Technologies, Inc. to Present at the Eighth Annual Dawson James Conference Executive Director of Finance, Mr. Anthony Chan, to Present at 5:00 p.m Eastern Time on Thursday, October 12th, 2023 Santa Clara, CA, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (NASDAQ: BRQS) (“BRQS” or the “Company”), a global provider of 5G wireless and Internet of Things (IoT) solutions announced today its participation in the Eighth Annual Dawson James Conference on Thursday, October 12th, 2023 at the Wyndam Grand Jupiter at Harbourside Place in Jupiter, Florida. The Company is also...
Borqs Technologies and SkyCentrics Will Start Commercial Shipment of t...
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. 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 G...
Borqs Technologies Receives Nasdaq Notification Regarding Minimum Mark...
Borqs Technologies Receives Nasdaq Notification Regarding Minimum Market Value Deficiency 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 day...
Borqs Technologies, Inc. to Present on October 5th at the WallStreet R...
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. 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 proces...
Borqs Technologies, Inc. featured in an updated research report by Wal...
Borqs Technologies, Inc. featured in an updated research report by WallStreet Research™ with a “Speculative Buy” Rating 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 H...
Borqs Technologies Received Extension from CFIUS for HHE Divestment, a...
Borqs Technologies Received Extension from CFIUS for HHE Divestment, and Will Consider Share Buyback and/or Pay a Special Dividend 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). As pre...
Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S....
Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market The state-of-the-art smart watch chipset has sufficient computational power to enable machine learning and AI on the edge. The smart watch can facilitate everyday life for seniors with special demands for assisted living. 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...
Borqs Technologies and SkyCentrics Will Start Commercial Shipment of N...
Borqs Technologies and SkyCentrics Will Start Commercial Shipment of Next Generation CTA-2045 ECOPORT Smart Control Products in Q3 2023 for “Electrification of Everything” As a start in the development of a smart city, mobile connected CTA-2045 devices are chosen by utility companies across the U.S. as the platform for smart management of water heaters, pool pumps and other products with EcoPorts. Early adoption of CTA-2045 EcoPort enabled water heaters has been underway in low-income multi-family solar and storage communities in Hawaii. Commercial and residential markets in buildings a...
Borqs Technologies To Accelerate Further Expansion Into Artificial Int...
Borqs Technologies To Accelerate Further Expansion Into Artificial Intelligence of Things (AIoT) Solutions Leveraging deep IoT expertise across industriesArtificial Intelligence of Things Market Size was valued at over USD 9 billion in 2022 SANTA CLARA, Calif., June 13, 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 further expand into artificial intelligence, leveraging its deep IoT expertise across industries. Beyond Borqs’ current product ...
Borqs Technologies Receives Nasdaq Extension to Satisfy Minimum Bid Pr...
Borqs Technologies Receives Nasdaq Extension to Satisfy Minimum Bid Price Requirement 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”)....
Borqs Technologies Reports Annual Revenues of $52.5 million, an Increa...
Borqs Technologies Reports Annual Revenues of $52.5 million, an Increase of 77.7%, and Adjusted EBITDA of $4.8 million Revenues reached $52.5 million, 77.7% Year-Over-Year (YOY) growth.Gross margin was 21.2%, an improvement of 1,240 basis points.Adjusted EBITDA reached $4.8 million. 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. Key Financial Results (not includi...
Borqs Technologies Engages Cantor Fitzgerald & Co. For the Divestment ...
Borqs Technologies Engages Cantor Fitzgerald & Co. For the Divestment of Holu Hou Energy LLC 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 residentia...
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