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Globe Newswire 19-Sep-2023 8:30 AM
SANTA CLARA, Calif., Sept. 19, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (NASDAQ:BRQS, "Borqs" or "the Company"))), will be presenting on October 5th, 2023, at the WallStreet Research / Global Capital Network / Med Tech Conference being held all day at the Hyatt Hotel in Newport Beach, California. The Company is a global leader in embedded software and products for the Internet of Things (IoT) industry. The Company is also in the process of divesting its 49 percent stake in Holu Hou Energy LLC, ("HHE"), a solar energy + storage company that currently has the majority of its activities in Hawaii. HHE has recently signed a multi-year agreement for the installation of the HHE systems in 6,000 residential units at the Palm Island Community in Hawaii, and Borqs expects to receive potentially substantial cash proceeds from the divestiture. The sale of HHE is targeted to be completed by year-end of 2023, and the Company intends to use the proceeds for future acquisitions and possible share repurchases or to pay special dividends.
Borqs will be presenting on stage in the afternoon. Its presentation will also be webcasted, and the Company will be conducting one-on-one meetings at its booth at the event. Conference registration and information is available at www.GlobalCapitalNetwork.com
Mr. Anthony Chan, Executive Director of Finance and US Operations will be making the presentation online for Borqs Technologies, Inc., and will provide the audience an overview of its core business activities, growth plans, and its progress in divesting its 49 percent ownership stake in HHE.
Borqs Technologies, Inc. recently received a "Speculative Buy" Rating by WallStreet Research in their updated Research Report dated September 8, 2023, with a target price range of $1.00 to $1.20. The WSR research report highlights the value of the Company's core business and stake in HHE. A copy of the recent updated research report is available at the following link: https://wallstreetresearch.org/reports/BORQS-Sept-2023.pdf
About WallStreet Research™
WallStreet Research™ ("WSR") is a top ranked independent research firm with a history spanning over four decades. WSR provides the global investment community with independent analyst research reports, corporate profiles, and newsletters of selected quality emerging growth companies. With the NUMBER ONE ranking on Google, Yahoo, and Bing search engines, and a global following, WallStreet Research™ effectively initiates coverage on emerging companies that offer remarkable gain potential. This has resulted in WSR achieving one of the best track records in the small-cap investment marketplace. The firm's highly regarded analysts include a number of CFAs and MBAs with expertise in a diverse range of industries. The firm has offices in New York City, Los Angeles, CA, and Palm Beach, Florida. www.WallStreetResearch.org.
About Global Capital Network (GCN)
GCN provides investors around the world with deal flow based on their preferences and consults with entrepreneurs, growth companies and startups globally 24/7. The firm has been running large investor events in Orange County, CA for over five years and is partnering with WSR and Med Tech at this next event. The upcoming event in Newport Beach, CA on October 5th will attract over 40 presenting companies and over 300 attendees.
Conference registration and details are at www.GlobalCapitalNetwork.com.
About Borqs Technologies, Inc.
Borqs Technologies (NASDAQ:BRQS, "Borqs" or the "Company"))) is a global leader in software and products for the IoT, providing customizable, differentiated, and scalable Android-based smart connected devices and cloud services solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs' unique strengths include its Android Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage, and system performance optimization, suitable for large and low volume customized products, and is also currently in development of 5G products for phones and hotspots.
Forward-Looking Statements and Additional Information
This press release includes "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects", "believes", "anticipates", "intends", "estimates", "predicts", "seeks", "may", "might", "plan", "possible", "should" , "expecting" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management's current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the positive financial results from the initiatives and the proposed divestment as described herein may not be realized, and the negative impact on the Company's supply chain due to tensions in the international business environment may have on revenues and overall results of operation, so the reader is advised to refer to the Risk Factors sections of the Company's filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.