Welcome to our dedicated page for BRQS news (Ticker: BRQS), a resource for investors and traders seeking the latest updates and insights on BRQS stock.
Borqs Technologies, Inc. (BRQS) is described in its public communications as a global provider of embedded software and products for the Internet of Things (IoT) and 5G wireless solutions. The news flow around Borqs covers both its operational activities in Android-based smart connected devices and IoT hardware, and significant corporate transactions that affect the structure and direction of the company.
Recent announcements highlight a major shift for Borqs. In April 2025, the company reported that it had completed the sale of its core businesses to Sasken Technologies Limited of India. This transaction included Borqs’ embedded software design and customized hardware manufacturing of IoT products, as well as customer contracts, technology licenses, intellectual property, certain subsidiaries, and employment agreements of key personnel. Earlier communications in 2024 described the planned sale of its hardware and software business to Sasken as part of a capital structure revamp.
Other news items have included interim financial results, where Borqs reported revenues from software and hardware segments and discussed gains from the disposal of subsidiary interests. The company has also issued releases on capital structure measures such as reverse stock splits and notifications related to Nasdaq listing requirements. Operational updates have covered topics such as smart IoT device initiatives for the African market, partnerships for CTA-2045 EcoPort and Modbus adaptor products for smart grid appliance manufacturers, and divestment processes for a solar energy storage subsidiary.
Investors and observers can use the Borqs news stream to follow developments in its IoT and 5G-related activities, its strategic partnerships, and its transition toward using transaction proceeds for investment activities in areas such as AI and capital-related ventures. Regularly reviewing company news can provide context on how Borqs’ business focus and corporate structure evolve over time.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced it received deficiency notifications from Nasdaq on October 28, 2022, regarding non-compliance with minimum bid price and market value requirements. The stock must maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive trading days and achieve a market value of $35 million for the same period to regain compliance. Failure to rectify by April 26, 2023, may lead to delisting. CEO Pat Chan expressed confidence that current stock prices do not reflect the company’s true value, emphasizing the importance of a sustainable business model.
Borqs Technologies reported impressive financial results for the first half of 2022, achieving revenues of $30.1 million, a 141% year-over-year increase. The company forecasts annual revenues between $50 and $55 million, translating to a growth of over 69% compared to 2021. Borqs' gross profit reached $4.3 million, with a consistent gross margin of 14.2%. The firm's backlog stands at $50 million, driven by strong sales in IoT and its solar energy subsidiary, Holu Hou Energy. The management anticipates ongoing growth, particularly in clean energy, following the Inflation Reduction Act.
Borqs Technologies has entered the Indian electric vehicle sector by developing a Telematics Control Unit (TCU) for two and three-wheelers, showcasing it at the India Mobile Congress. The TCU offers extensive functionalities, including data connectivity and vehicle diagnostics. The Indian electric vehicle market, valued at USD 1,434.04 billion in 2021, is projected to grow to USD 15,397.19 billion by 2027, driven by rising sales of electric two-wheelers, which surged 132% in 2021. Borqs aims to leverage these trends and enhance connectivity for OEMs.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced its solar energy storage subsidiary, Holu Hou Energy LLC (HHE), has signed a power purchase agreement with Kapolei Diversified Properties for the Luhauola mixed-use development in Hawaii. The project includes 200KW of solar PV and 500KWh of energy storage, valued at several million dollars, set for completion in 2023. Additionally, HHE's recent agreements, including a $20 million deal to support Honokea Villages' ecological facility, contribute to a total of $49.8 million in signed contracts in 2022. Hawaii's reliance on petroleum raises electricity costs significantly.
Borqs Technologies (Nasdaq: BRQS) announced revised licensing agreements with a leading mobile chipset vendor, enhancing its 5G ecosystem in India. The company has shipped over 10 million wireless devices in the region, with the expected launch of 5G services by March 2023. India's 5G user base is projected to reach 500 million by 2027, providing significant market opportunities. Borqs emphasizes the strategic importance of the Indian market, contributing major revenue alongside the U.S. market. The company is also developing solar energy storage systems to expand its clean energy portfolio.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced a $2.5M contract through its solar energy subsidiary, Holu Hou Energy LLC, for a renewable energy and storage system at the Mahana residential property in Barbers Point. The project expands the solar capacity to around 640kW and includes 1.1 MWh of energy storage, participating in Hawaii's Battery Bonus Program. The installation is backed by a 20-year power purchase agreement sold to a third-party investor, enhancing Borqs' position in the renewable energy market.
Borqs Technologies, Inc. (BRQS) has announced a significant agreement through its subsidiary Holu Hou Energy LLC to deliver a renewable energy generation and storage system to Honokea Villages. This project will provide over 3 MW of photovoltaic power and over 4 MWh of energy storage, sufficient to fully power the facility's operations. Estimated at nearly $20 million, the construction is set to commence in 2023 under a 20-year power purchase agreement. This contract is part of the $49.8 million in signed contracts disclosed for Q2 2022.
Borqs Technologies, Inc. (BRQS) announced it has regained compliance with Nasdaq Listing Rule 5550(a)(2) following a letter dated July 12, 2022. The company’s common stock maintained a closing bid price of $1.00 or greater for 10 consecutive business days from June 27 to July 11, 2022. Borqs, a global provider of 5G, IoT solutions, and clean energy products, operates in the U.S., India, and China.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced that its majority-owned subsidiary, Holu Hou Energy LLC (HHE), was featured in a New York Times article highlighting Hawaii's shift towards solar energy to combat high electricity costs. The average peak hour electricity price in Hawaii increased by 42.4% over the past 18 months, prompting residents to invest in solar systems. CEO Pat Chan noted that HHE's products are providing economic benefits and cleaner energy in Hawaii, with plans to expand into California amidst expectations of market growth.
Borqs Technologies, Inc. (Nasdaq: BRQS) announced its subsidiary, Holu Hou Energy LLC, has secured contracts for nine solar plus energy storage projects in Hawaii, totaling $49.8 million. Eight projects are on Oahu, with implementation starting in Q3 2022. The company aims to exceed $140 million in contracts this year, enhancing its competitive edge with proprietary Energy Share technology, which delivers 25% more energy with 50% fewer batteries. CEO Pat Chan expresses optimism about further expansion in Hawaii and California.