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) delivers innovative mobile platform solutions and IoT connectivity systems for global enterprises. This dedicated news hub provides investors with centralized access to official announcements, financial disclosures, and strategic developments.
Track critical updates including earnings reports, technology partnerships, and product innovations in mobile communications and smart device integration. Our curated feed ensures timely access to filings, executive statements, and market-moving developments directly from the company.
Key coverage areas include IoT platform enhancements, enterprise solution deployments, and intellectual property milestones. Bookmark this page for streamlined monitoring of BRQS's progress in enabling secure, scalable connectivity solutions across industries.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced plans for a US$110 million 5G Industrial Park in Huzhou, China, through a joint venture with local government. This project, covering 1.9 million sq.ft., includes research facilities, manufacturing, a convention center, and hotels. Borqs aims to lease spaces to high-tech firms, engaging with companies in robotics, AI, and smart city technologies. The developer selection process is set to complete by Q3 2021. Borqs retains a 20%-30% stake in the project, leveraging its strategic partnerships to enhance its IoT product offerings.
Borqs Technologies, Inc. (BRQS) recently announced the airing of an interview with CFO Anthony Chan on The RedChip Money Report, broadcast on Bloomberg on July 17, 2021. The segment focuses on small-cap investing and features insights from Wall Street analysts and executives. Borqs is recognized for its innovative IoT solutions, offering customizable software and products, including Android-based devices and 5G developments. The company highlights potential challenges, including COVID-19 impacts on supply chain and operations, advising stakeholders to refer to SEC filings for risk factors.
Borqs Technologies, Inc. (BRQS) announces that CFO Anthony Chan will be featured on The RedChip Money Report airing July 17 at 7 p.m. ET on Bloomberg TV, which reaches an estimated 73 million homes. This program focuses on small-cap investing and includes interviews with analysts and executives. Borqs is recognized for its innovative IoT solutions, leveraging strategic partnerships and a robust software portfolio, including development in 5G technology. The company cautions that forward-looking statements may differ due to uncertainties from COVID-19 and other risks.
Borqs Technologies, Inc. (Nasdaq: BRQS, BRQSW) announced the completion of its new manufacturing facilities in Huzhou, China, marking a significant milestone since its inception in 2007. This facility will enable the company to reduce production costs by in-sourcing manufacturing processes previously outsourced. The initial phase can produce up to 700,000 units per year, with potential for expansion as demand grows. The establishment of these facilities reinforces Borqs’ position in the IoT sector, aiming to enhance its manufacturing capabilities and operational efficiency.
Borqs Technologies, Inc. (Nasdaq: BRQS) has commenced the delivery of cellular CTA-2045 EcoPort products to SkyCentrics for utility companies in Colorado and California. This technology aims to enhance energy efficiency in grid interactive water heater programs, with Michigan also seeking similar products. Borqs' partnership with SkyCentrics, initiated in October 2020, focuses on optimizing energy usage and promoting smart cities. The market for grid optimization is projected to reach $154 billion by 2026. These advancements could significantly reduce carbon emissions, likened to removing 100,000 gasoline cars per million equipped water heaters.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced a new contract with a U.S. Fortune 500 company to supply multiple models of enterprise Android-based handheld computers, targeting markets in the U.S., EU, and Asia. The expected revenue from these purchase orders is forecasted to reach $10 million within the next 12 months. The handheld devices, designed to enhance productivity across various applications, have already passed necessary U.S. market certifications. The company anticipates growth in the mobile handheld market as the retail sector recovers post-COVID.
Borqs Technologies, Inc. (Nasdaq: BRQS) has secured land use rights for 240 acres in Huzhou, China, to establish a 5G Industrial Park. This park will focus on research and development for mobile technologies and the manufacture of IoT products. The first assembly facilities are expected to be operational by the end of June 2021. This grant is one of only five awarded by the Huzhou authorities and will allow Borqs to manage procurement and recruit local graduates. The land is provided at the lowest allowable pricing.
Borqs Technologies, Inc. (Nasdaq: BRQS) has raised $15.3 million in convertible notes, bringing total sales to $23 million in 2021. The notes feature an 8% interest rate and a two-year term. The conversion price was set at $0.972 per share. Additionally, the company issued nearly 12 million warrants with varied exercise prices. Funds will support customer orders and the development of 5G products, as well as investments in the Huzhou 5G Project for R&D and manufacturing. The company reported a recovery in business activities following the COVID-19 impact in 2020.
Borqs Technologies, Inc. (Nasdaq: BRQS) has commenced construction on a research and development center as part of the Huzhou 5G Industrial Park Project. This initiative, which began in January 2021, will provide Borqs with a rent-free facility for 2.5 years, facilitating operational cost reductions by in-sourcing previously outsourced manufacturing activities. Construction is expected to be completed by the second quarter of 2021, with the recruitment of engineers starting in June. The company aims to enhance its IoT product offerings, including the development of 5G solutions.
Borqs Technologies, Inc. (BRQS) announced on February 25, 2021, that it has signed agreements for the sale of $20 million in convertible notes to institutional and individual investors. The notes, which carry an 8% annual interest rate and a 10% discount on ordinary share conversion, are expected to fund orders and the development of next-generation 5G products. One-third of the notes will be sold at the agreement's execution, with the remainder contingent on certain conditions, including a registration statement effective by April 15, 2021.
