BRQSW - BRQSW STOCK NEWS

Borqs Technologies, Inc. (Nasdaq: BRQS) announced a strategic partnership with Zippie, a blockchain application and payment platform, to develop IoT autonomous payment solutions. This collaboration aims to address the growing demand for digital currency transactions. Zippie's platform connects to 1.3 billion mobile wallets and 3 billion bank accounts globally by the end of 2021. The companies plan to launch an Android-based digital watch payment solution, enhancing security and programmability for machine-to-machine transactions.

Borqs Technologies, Inc. (Nasdaq: BRQS) announced the postponement of its annual general meeting scheduled for August 2, 2021, due to insufficient legal quorum. The adjourned meeting will now take place on August 6, 2021, at 10:00 AM EDT, at Sichenzia Ross Ference LLP in New York City. A quorum of one third of the ordinary shares outstanding, either in person or by proxy, is necessary to conduct the meeting. The company is optimistic about meeting the quorum requirements for the adjourned meeting.

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.