Borqs Technologies, Inc. - BRQS STOCK NEWS

Borqs Technologies, Inc. (Nasdaq: BRQS, BRQSW) has announced a strategic partnership with SkyCentrics to develop CTA-2045 ECOPORT products aimed at solar companies in the U.S. The collaboration involves joint R&D, sales efforts, and Borqs' investment in SkyCentrics. The new products will enhance Borqs’ solar and energy storage systems, with potential uses in utility companies' grid programs. This initiative supports U.S. electrification efforts and the development of smart cities, promising significant energy savings and carbon emission reductions.

Borqs Technologies (Nasdaq: BRQS) announced a partnership between its subsidiary Holu Hou Energy (HHE) and the Hawaii Green Energy Infrastructure Authority (HGIA) for a contract to supply solar plus energy storage systems to the Kunia Village affordable housing community in Oahu. This project, part of Borqs’ renewable energy strategy, includes 135 housing units, allowing residents to save on electricity costs through a leasing arrangement. The initial installation is expected to generate approximately $30,000 per unit, with potential pipeline projects in Hawaii reaching up to $130 million over the next two years.

Borqs Technologies (BRQS) filed its annual report on Form 20-F for 2021 with the SEC, showing a revenue increase to $29.56 million, up 10.5% from $26.75 million in 2020. However, the company reported a net loss of $56.60 million, primarily due to non-cash expenses linked to convertible notes and debt settlements. Despite the loss, Borqs achieved positive adjusted EBITDA of $431,000 for the year, indicating a focus on operational efficiency amidst challenges like supply chain issues and the COVID-19 pandemic.

Borqs Technologies, Inc. (BRQS) announced a partnership with Qualcomm Wireless Academy to offer technical training courses on 5G wireless solutions at Mission College in Santa Clara. This initiative aims to enhance Borqs' brand presence and attract 5G talent. The online courses will provide an introduction to 5G technologies, promoting deployment across various industries. As 5G services market is projected to reach USD 1.67 trillion by 2030, Borqs positions itself strategically in this growing sector. The courses start this summer, benefiting both students and engineers.

Borqs Technologies is collaborating with Qualcomm to develop automobile telematics products for the India and Southeast Asia markets, focusing on in-vehicle infotainment systems and Telematics Control Units for electric scooters and e-bikes. The Indian electric vehicle market is projected to grow from USD 1.4 billion in 2021 to USD 15.4 billion by 2027, with a CAGR of 47.09%. In 2021, electric two-wheeler sales surged by 132%, indicating strong demand in this sector.

Borqs Technologies, Inc. (Nasdaq: BRQS, BRQSW) has announced revised licensing agreements with Qualcomm, allowing the company to design and manufacture 5G products utilizing Qualcomm's technologies. This move positions Borqs to tap into the rapidly growing 5G services market, projected to reach USD 1.67 trillion by 2030 with a CAGR of 52%. The agreements will enhance 5G connectivity across a range of applications, including IoT solutions and energy management. Additionally, Borqs has acquired a controlling interest in a U.S.-based solar energy storage company to further expand its portfolio.

Borqs Technologies (BRQS) announced a collaboration with its subsidiary Holu Hou Energy (HHE) to develop smart products for the EV and smart home markets. The partnership will deliver HHE-branded EV chargers and generators integrated with a Smart Load Panel, enhancing energy management for homeowners. This strategic direction leverages Borqs' IoT expertise and HHE's solar energy solutions, aiming for significant market growth as the electric vehicle charger market is projected to reach $25.5 billion by 2027, with a CAGR of 26.8%.

Borqs Technologies (Nasdaq: BRQS) is a global provider of 5G wireless and IoT solutions, recently acquiring Holu Hou Energy (HHE), a solar energy storage company. With fossil fuel prices exceeding $100/barrel, Borqs anticipates growth in its clean energy segment, particularly in the U.S. residential market. HHE is working on multiple solar projects in Hawaii and plans to expand into the continental U.S. in 2022, aligning with President Biden's climate goals. Borqs aims to reduce carbon emissions and enhance pricing efficiencies compared to fossil fuels.

Borqs Technologies (BRQS) has secured a contract with India's largest mobile operator to develop a Linux-based laptop featuring Qualcomm chipset and cellular connectivity. This model aims to cater to growing demand, transitioning from traditional Wi-Fi only Windows laptops. The Indian PC market saw 30% YoY growth in Q3 2021, with laptops holding 81.5% market share. Borqs, which employs around 300 globally, emphasizes the strategic importance of the Indian market, particularly with the rising middle class, projected to reach 580 million by 2025.