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.

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SANTA CLARA, Calif., May 07, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), reported today that the Company has completed sales of $15.3 million in convertible notes to institutional and individual investors as of May 5, 2021, which in addition to $7.7 million sold to the same investors in February and April, totaled $23 million. The notes have a two-year term and an annual interest rate of 8%. The conversion price was reset to $0.972 per share, which was 90% of the closing price on the day effectiveness of registration was declared. The Company also issued 11,695,906 five-year warrants with an exercise price of $2.222 per share and 2,521,008 five-year warrants with an exercise price of $1.540 per share. The shares underlying the notes and warrants were registered for resale in the Company's registration statement on Form F-1. Proceeds will be used for the procurement of orders the Company expects to receive from its existing customers and new customers this year and also for development of the next generation 5G products. The Company is experiencing a recovery of business activities in 2021 from the COVID-19 effected levels of 2020, and is engaging new customers. The proceeds will also be used to invest into the Borqs “Huzhou 5G Project” for a R&D center and manufacturing facilities to be completed within the second calendar quarter of 2021.

Borqs Technologies Completes $23 Million Private Placement to Support Growth

The stock price of Borqs Technologies Inc (NASDAQ: BRQS) increased by 18.59% yesterday. This is why it happened.

BRQS Stock Price Increased 18.59%: Why It Happened

SANTA CLARA, Calif., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), reported today that the Company has signed agreements with institutional and individual investors on February 25, 2021 for sale of $20 million in convertible notes. The notes are due in two years, have an annual interest rate of 8%,    convertible into ordinary shares of Borqs at 10% discount from the market price and has 90% warrant coverage with the warrants exercisable at 110% of the conversion price. One-third of the notes are sold at the execution of definitive agreements and two-thirds of the notes will be sold upon the satisfaction of certain conditions, including effectiveness of a registration statement to be filed by the Company by April 15, 2021. Proceeds will be used for the procurement of orders the Company expects to receive from its customers this year and also for development of the next generation 5G products.

Borqs Technologies Completes $20 Million Private Placement to Support Growth

Borqs Technologies was up more than 70% in trading today with no specific catalyst to speak of. Here's what you need to know.

BRQS Stock: What to Know About Borqs Technologies as It Soars Today

The stock price of Borqs Technologies Inc (NASDAQ: BRQS) increased by over 30% pre-market. This is why it happened.

BRQS Stock Price Increases Over 30% Pre-Market: Why It Happened

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SANTA CLARA, Calif., Dec. 24, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has entered into Agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC (“LMFA”), a Florida limited liability company and wholly owned subsidiary of LM Funding America, Inc. (Nasdaq: LMFA), in which LMFA is committed to purchase up to be approximately $18 million of debt in tranches, which when completed will eliminate substantially all of the debt with the Company's senior lender. LMFA will convert the purchased debt into common shares of the Company, pursuant to a court order that allows the conversion shares to be issued as unrestricted securities in a transaction that is exempt from registration under Section 3(a)(10) of the Securities Act of 1933, as amended. Please refer to the company's SEC filings for additional information about the transaction. 

Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million and to Eliminate Institutional Loans

SANTA CLARA, Calif., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has signed the official agreement for cooperation with the Huzhou South Taihu New Area for a 5G Industrial Park Project.

Borqs Technologies Signed Official Agreement for 5G Industrial Park Project in South Taihu New Area of Zhejiang Province, China

SANTA CLARA, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has signed an MOU with the Board Committee of Huzhou South Taihu New Area for a 5G Industrial Park Project.

Borqs Technologies Signs Strategic MOU for 5G Industrial Park Project in South Taihu New Area of Zhejiang Province, China

BANGALORE, India., Nov. 17, 2020 (GLOBE NEWSWIRE) -- Borqs India, a subsidiary of Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”) has successfully demonstrated a NextGen TV Android smart phone (branded Mark One) based on ATSC 3.0 to One Media 3.0, a wholly-owned subsidiary of Sinclair Broadcast Group, a part of the station group's strategy to ensure that NextGen TV one day is an integral part of mobile phones and other terminal devices. ATSC 3.0, a new broadcast signaling standard branded as “NextGen TV”, is starting to break away from TV screen and gain its first foothold on the smartphone.

Borqs India Successfully Demonstrated Next Gen TV Smartphone to One Media, a Wholly-Owned Subsidiary of Sinclair Broadcast Group in the U.S.

SANTA CLARA, Calif., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, today announced that it plans to join with SkyCentrics, a Northern California company that is the leader in open standard power grid optimization in the U.S., for the manufacturing and delivery of CTA-2045 technology based products. Mobile connected CTA-2045 devices are chosen by utility companies across the U.S. as the open standard platform for controlling smart appliances, beginning with a focus on water heaters, but including pool pumps, HVAC mini-split equipment, electric vehicle chargers, and large commercial electrical equipment.

Borqs Technologies teams with SkyCentrics for the delivery of Utility Scale Automated Smart Controls to the U.S. Power Infrastructure

SANTA CLARA, Calif., Oct. 05, 2020 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced it filed the annual report for the year ended December 31, 2019 on Form 20-F on September 30, 2020 with the U.S. Securities and Exchange Commission. The Company received a letter dated October 2, 2020 from the Hearings Advisor of the Nasdaq Office of General Counsel stating that the Company “has regained compliance with the Nasdaq Listing Rule 5250(c)(1)”.  Currently, the Company has met all continued listing requirements of the Nasdaq Capital Market.

Borqs Filed Annual Report for Year Ended December 31, 2019 And Regained Compliance with Nasdaq Continuous Listing Rules

SANTA CLARA, Calif., Sept.  17, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced it has received a letter dated September 14, 2020 from the Hearings Advisor of the Nasdaq Office of General Counsel as a result of the hearing that took place on August 27, 2020. The Nasdaq Hearings Panel has granted the request of Borqs to remain listed on The Nasdaq Stock Market subject to the condition that on or before September 30, 2020, the Company shall have filed a Form 20-F with the U.S. Securities and Exchange Commission. The Company thanks the Nasdaq Stock Market and intends to comply with the aforementioned condition.

Nasdaq Grants Borqs’ Request for Continued Listing Borqs Receives Nasdaq Hearings Panel Decision To Extend Filing of 2019 Annual Report Until September 30, 2020

SANTA CLARA, Calif., Sept.  02, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that it has formed a strategic partnership with  Juniper Systems , a Logan, Utah, USA based company and an industry leader for a variety of mobile data collection applications in harsh and hazardous work environments.

Borqs and Juniper Systems Announce Partnership for Enterprise-ready, Ultra-rugged Android Devices

SANTA CLARA, Calif., Aug.  24, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, today announced that it has received a purchase order of more than US$15M to supply mobile point of sale (POS) IoT devices for the India market.

Borqs Technologies Received Purchase Order of Over US$15 Million For Mobile Point-Of-Sale Device in India

SANTA CLARA, Calif., Aug.  10, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, today announced that it has launched its mobile smart tracking solution, BeSmartTrackTM in Taiwan. Borqs is gearing up to meet international demand to track and trace the global spread of COVID-19.  The solution provides a comprehensive set of features for location tracking (real-time tracking, geofencing, location history). This solution is being deployed with a leading mobile carrier network operator in Taiwan using IoT technology Cat-M1. Borqs provides both the cloud platform as well as the end-user tracker device. In Taiwan, the applications include the tracking of senior citizens and the tracking the disposal of garbage.

Borqs Technologies Launched Mobile Smart Tracking Cloud Solution in Taiwan, As International Demand Increases For Tracking The Spread of COVID-19

SANTA CLARA, Calif., Aug.  03, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that on July 28, 2020, the Nasdaq Hearings Panel granted the Company’s request to extend the automatic 15-day stay of suspension from The Nasdaq Stock Market LLC (“Nasdaq”), pending the hearing scheduled for August 27, 2020 and a final determination regarding the Company’s listing status.  As previously disclosed, on July 9, 2020, Nasdaq staff had notified the Company that it had determined to delist it as the Company had failed to comply with Nasdaq’s filing requirements set forth in Listing Rule 5250(c)(1) because it had not filed its Form 20-F for the year ended December 31, 2019. 

Nasdaq grants extension to Borqs Technologies until final determination from a hearing scheduled for August 27, 2020

SANTA CLARA, Calif., July  15, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that on July 9, 2020, the Company received a delisting determination letter (the "Determination Letter") from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (the “Staff” or "Nasdaq"). The Determination Letter notified the Company that since it had not filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2019 (the "2019 20-F") by June 30, 2020, the deadline by which the Company was to file the 2019 20-F, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”) and the Company’s ordinary shares are subject to delisting from the Nasdaq Capital Market. The Determination Letter indicates that Listing Rule 5815(d)(4)(B) does not permit an issuer that is noncompliant with the Rule to present a plan of compliance to Nasdaq if such issuer has failed to comply with that provision within one year of a hearing panel determination of compliance. On March 10, 2020, the Company received a letter from Nasdaq notifying the Company that it had regained compliance with the Rule.

Borqs Technologies receives Nasdaq delisting letter and will request to appeal The Company is late in filing of the 2019 Annual Report due to the COVID-19 pandemic

SANTA CLARA, Calif., July  01, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that due to travel restrictions and lockdown through June 30th related to the COVID-19 pandemic, staff of our Beijing based accounting department as well as our New York based auditor had not been able to travel freely within China and India, and from the U.S. to these two countries.  Our China office had been very much affected as Beijing saw a resurgence of the COVID-19 virus recently. The Company was not able to complete its financial audit for the year ended December 31, 2019 and file the required annual report on Form 20-F by the deadline of June 30, 2020.  As a result, the Company is not in compliance with the reporting rules of the U.S. Securities and Exchange Commission and of the Nasdaq Stock Market.  The Company will make additional disclosure on the timing of the filing of the required report as the pandemic situation changes. 

Borqs Technologies missed the filing deadline for the 2019 Annual Report on Form 20-F and announced preliminary unaudited financial results

SANTA CLARA, Calif., June  29, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that the intrinsically safe mobile rugged phones which it developed for its German technology partner has passed the stringent certification of two of the largest mobile operators in North America. Borqs has started to deliver products ordered by the German technology partner and is ramping up production rapidly.

Borqs Technologies Engineered Ruggedized Mobile Phones  for Use in Hazardous Environments Recently Certified by Two of the Largest North American Mobile Operators

SANTA CLARA, Calif., May  04, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, today announced that the Company has completed the due diligence process as requested by the lenders of a line of credit up to US$150 million (see Company release on April 13, 2020) for working capital needs for the Company’s customer pre-orders forecasted at over US$100 million.  The line of credit will become available upon the final approval procedures of the lenders based on the pre-orders received by the company.

Borqs Technologies, Inc. Completes Due Diligence Process for US$150 million Line of Credit Offer

SANTA CLARA, Calif., April  29, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, announced that it is supplying a leading German industrial manufacturer with its patented software embedded in its intrinsically safe mobile devices which are used in hazardous areas, a large and growing market segment.  Borqs has supplied key technologies which enable the German client to deliver rugged enterprise-class mobile products that can be used in with high levels of technology and reliability as required in demanding projects such as in the field of explosion-shielded products. As a technology partner to customers from the most diverse sectors, which include the chemical, petrochemical, pharmaceutical and mining industries to name a few, Borqs’ technologies are used in the German client’s award-winning Android smartphones, and one of them is the world’s first intrinsically safe smartphone for Zone 1/21 and Division 1 areas that meets Google’s sophisticated Android Enterprise Recommended (AER) validation. The devices together with the accessories provide a wide range of safe and reliable mobile instruments for measuring and calibrating inside and outside hazardous parameters, ranging from the multimeter to devices for measuring temperature, pressure and rpm, plus pressure, current loop and process calibrators, etc. The products have been certified for release to the worldwide market, including to the mobile operators in Europe, Asia and North America. Borqs started supplying the German manufacturer with software embedded products in 2019, and expects the volume of production and shipments to increase substantially in 2020 and beyond, based on additional demand and planned roll-out to the large market segment globally.

Borqs Technologies Plans for Significantly Increased Sales of its  Software Embedded Safety Mobile Devices  to a Major German Industrial Manufacturing Company

SANTA CLARA, Calif., April  24, 2020  (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS), (the “Company”, or “Borqs”), a global leader in embedded software and products for the Internet of Things (IoT) industry, today announced that it has won a sizable contract to supply a kids smartwatch to a large North American mobile operator.

News for Borqs Technologies Stock (BRQS)