BRQSW - BRQSW STOCK NEWS

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.

Borqs Technologies, Inc. (Nasdaq: BRQS) has received a notice from Nasdaq confirming eligibility for an additional 180 days to comply with the $1 bid price requirement until August 15, 2022. The company intends to address this deficiency, potentially through a reverse stock split. To regain compliance, Borqs must maintain a closing bid price of at least $1 for 10 consecutive business days during this period.

Borqs Technologies, Inc. (Nasdaq: BRQS) announced significant updates on its business operations. The company’s manufacturing line in Huzhou, China, is now operational with a capacity of 100,000 units per month, focusing on smart control devices for U.S. utility companies, vital for smart city energy savings. Borqs has received $15 million in purchase orders from a Fortune 500 company, completing 20% of this order by year-end 2021, with the rest expected in the first half of 2022. Additionally, Holu Hou Energy has launched a pilot solar project in Hawaii while evaluating further opportunities in the continental U.S.

Borqs Technologies (Nasdaq: BRQS) announced projected revenues of $31M to $35M for FY 2021, indicating a 30% growth compared to $26.8M in 2020. The growth is largely driven by customers in the US, Europe, and India. For FY 2022, Borqs expects revenues of $45M to $55M from its core operations, alongside an anticipated contribution of $40M to $50M from its clean energy subsidiary, Holu Hou Energy LLC. The company operates primarily in the wireless and IoT sectors and is poised for further expansion in the US market.

Borqs Technologies, Inc. (Nasdaq: BRQS) announced that Executive Director of Finance & US Operations, Anthony Chan, will be featured on The RedChip Money Report on Bloomberg TV, airing January 22 at 7 PM ET. The segment aims to provide insights into small-cap investing and features interviews with public company executives. Borqs is recognized for its IoT solutions and has recently acquired a solar energy storage company in the U.S. This interview will be accessible on Bloomberg TV, which reaches approximately 73 million homes across the U.S.