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Borqs Technologies, Inc. - BRQS STOCK NEWS

Welcome to our dedicated page for Borqs Technologies news (Ticker: BRQS), a resource for investors and traders seeking the latest updates and insights on Borqs Technologies stock.

Borqs Technologies, Inc. (Nasdaq: BRQS) is a leading global provider in the Internet of Things (IoT) and 5G solutions space. The company specializes in creating customizable, differentiated, and scalable Android-based smart connected devices and cloud service solutions. Leveraging its strategic partnerships with major chipset manufacturers and its extensive software and intellectual property (IP) portfolio, Borqs is recognized as an innovative end-to-end IoT solutions provider.

Borqs' unique Android Licenses allow it to develop a comprehensive software IP library that enhances chipset software, domain-specific usage, and system performance optimization. This library supports both large-scale and low-volume customized products. Currently, Borqs is working on developing 5G products for phones and hotspots, further solidifying its position in the market.

The company has achieved significant milestones, including multiple non-binding indications of interest for its stake in Holu Hou Energy LLC (HHE). Selected potential buyers are now participating in the second round of due diligence and negotiations for the complete divestment of Borqs' interest in HHE.

Financially, Borqs continues to strengthen its position through various strategic initiatives and partnerships. Despite challenges in the international business environment that may impact the supply chain, Borqs remains focused on delivering positive financial results.

For the latest updates and more detailed information, you can contact Sandra Dou, Vice President of Corporate Finance, at IR@borqs.com or visit their website at www.borqs.com.

News

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

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Borqs Technologies receives 'Speculative Buy' rating with six-month price targets of $1.00 to $1.20 per share. The company expects a nine-figure gain from divesting its stake in Holu Hou Energy, LLC. Revenues for 2022 were over $52.5 million. Borqs aims to expand its core business IP and transition into a Global AIoT solution provider.
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Borqs Technologies Received Extension from CFIUS for HHE Divestment, and Will Consider Share Buyback and/or Pay a Special Dividend

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Borqs Technologies granted extension for divestment of subsidiary, Holu Hou Energy LLC, by CFIUS.
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Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market

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Borqs Technologies plans to develop an AI-enabled smart watch for the U.S. market. The smart watch will be based on Android and will utilize AI capabilities on the watch chipset platform. It will target seniors in the United States and aims to facilitate everyday life for seniors with special demands for assisted living. The North America Smart Watch Market is expected to grow from USD 39.75 billion in 2023 to USD 85.71 billion by 2028, at a CAGR of 16.61% during the forecast period.
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Borqs Technologies and SkyCentrics Will Start Commercial Shipment of Next Generation CTA-2045 ECOPORT Smart Control Products in Q3 2023 for “Electrification of Everything”

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Borqs Technologies and SkyCentrics have launched the next generation CTA-2045 ECOPORT communication products. The products are more price competitive and feature-rich than the current generation and have better cellular coverage. The first release will start commercial shipment in Q3 2023.
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Borqs Technologies To Accelerate Further Expansion Into Artificial Intelligence of Things (AIoT) Solutions

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Borqs Technologies plans to expand into artificial intelligence, leveraging its deep IoT expertise. They aim to develop consumer-oriented devices and solutions with AI capabilities in industries such as e-health, sports, education, and asset protection. The AIoT market is projected to grow at a CAGR of 20% between 2023 and 2032.
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Borqs Technologies Receives Nasdaq Extension to Satisfy Minimum Bid Price Requirement

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Borqs Technologies, Inc. has been granted an extension by Nasdaq to regain compliance with the minimum $1 bid price requirement. The sale of their solar subsidiary, Holu Hou Energy, may positively impact the stock price due to its significant cash generation potential.
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Stonegate Capital Partners Updates Coverage on Borqs Technologies Inc. (BRQS) 2H 2022

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Stonegate Capital Partners updates their coverage on Borqs Technologies Inc.
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Borqs Technologies Reports Annual Revenues of $52.5 million, an Increase of 77.7%, and Adjusted EBITDA of $4.8 million

Rhea-AI Summary
Borqs Technologies, a global provider of 5G wireless and IoT solutions, reported strong financial results for 2022. Revenues increased by 77.7% YoY to $52.5 million, driven by increased IoT hardware sales and software service revenues. Gross profit increased by 326.6% to $11.1 million, with a gross margin of 21.2%. Adjusted EBITDA reached $4.8 million, a 138% increase compared to the previous year. The company must divest its ownership in Holu Hou Energy, LLC (HHE) as mandated by CFIUS.
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Borqs Technologies Engages Cantor Fitzgerald & Co. For the Divestment of Holu Hou Energy LLC

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Borqs Technologies has engaged Cantor Fitzgerald as its exclusive financial advisor for the divestment of its ownership in Holu Hou Energy. Cantor Fitzgerald will conduct a sales process and has started reaching out to potential acquirers. HHE's solar energy storage system provides resilience and energy security to residential and commercial units. Borqs is required to divest its interests in HHE due to national security risks.
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Borqs Technologies Requests for Hearing regarding the $1 Minimum Bid Price Deficiency

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Borqs Technologies, Inc. has received a notification from Nasdaq stating that it has not regained compliance with the minimum bid price requirement for continued listing. The company has engaged Donohoe Advisory Associates LLC to request a hearing to stay the suspension or delisting action. The company's shares are expected to remain listed until a decision is made by the Panel.
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FAQ

What is the market cap of Borqs Technologies (BRQS)?

The market cap of Borqs Technologies (BRQS) is approximately 6.3M.

What services and products does Borqs Technologies offer?

Borqs Technologies specializes in IoT and 5G solutions, offering customizable Android-based smart devices and cloud services.

Who are Borqs Technologies' key partners?

Borqs leverages strategic partnerships with major chipset manufacturers to enhance its product offerings and software IP portfolio.

What recent developments have been announced by Borqs Technologies?

Borqs has received multiple non-binding indications of interest for its stake in Holu Hou Energy LLC and is in the second round of negotiations for divestment.

How does Borqs Technologies stand out in the market?

Borqs' unique Android Licenses and extensive software IP library enable it to offer customized and scalable IoT solutions, setting it apart in the industry.

What is Borqs Technologies' financial outlook?

Borqs is focused on strategic initiatives to deliver positive financial results despite potential challenges in the international business environment.

Where can investors find more information about Borqs Technologies?

Investors can contact Sandra Dou, Vice President of Corporate Finance, via email at IR@borqs.com or visit the company website at www.borqs.com.

What market sectors does Borqs Technologies operate in?

Borqs operates primarily in the IoT and 5G sectors, providing end-to-end solutions for these rapidly growing markets.

How does Borqs Technologies support its customized products?

Borqs supports its customized products through its comprehensive software IP library that enhances system performance and domain-specific usage.

What is the significance of Borqs' Android Licenses?

Borqs' Android Licenses allow the company to develop a robust software IP library, making it possible to create highly customized IoT solutions.

What are Borqs Technologies' future plans?

Borqs is focused on developing 5G products for phones and hotspots, aiming to strengthen its market position and expand its product offerings.
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Borqs Technologies, Inc.

Nasdaq:BRQS

BRQS Rankings

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BRQS Stock Data

6.28M
6.42M
0.17%
Software - Application
Technology
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Hong Kong
Kwun Tong