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

Rhea-AI Summary

Borqs Technologies, Inc. (Nasdaq: BRQS) recently announced that it filed its annual report on Form 20-F for 2019 with the SEC on September 30, 2020. Subsequently, the company received a letter from Nasdaq stating that it has regained compliance with Listing Rule 5250(c)(1) and now meets all continued listing requirements on the Nasdaq Capital Market. Borqs is recognized for its embedded software and products in the IoT sector and is developing 5G-enabled devices.

Positive

• Filed annual report for 2019, demonstrating regulatory compliance.
• Regained compliance with Nasdaq Listing Rule 5250(c)(1).
• Currently meets all continued listing requirements on Nasdaq.
• Recognized as a leader in IoT solutions with ongoing development of 5G products.

Negative

• None.

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.

About Borqs Technologies, Inc.: 
Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio.

Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in development of 5G products like smartphones and hotspots.

Investor Contact:
Sandra Dou
Director of Finance
Borqs Technologies, Inc.
sandra.dou@borqs.net
www.borqs.com

FAQ

What is the significance of Borqs Technologies filing its 2019 annual report?

Filing the 2019 annual report demonstrates Borqs Technologies' commitment to transparency and compliance with SEC regulations.

Has Borqs Technologies regained Nasdaq compliance?

Yes, Borqs has regained compliance with Nasdaq Listing Rule 5250(c)(1) as of October 2, 2020.

What are Borqs Technologies' current listing requirements on Nasdaq?

Borqs Technologies currently meets all continued listing requirements of the Nasdaq Capital Market.

What products is Borqs Technologies developing?

Borqs is currently developing 5G products, including smartphones and hotspots.