Borqs Technologies, Inc. (BRQSF) Form 20-F — May 15, 2026

Borqs Technologies filed its annual report on Form 20-F for the fiscal year ended December 31, 2025, disclosing that its independent auditors have raised substantial doubt about the company’s ability to continue as a going concern. The filing reveals that Borqs sold its core operating business—comprising embedded software design and IoT hardware manufacturing—to Sasken Technologies for $40 million in April 2025, leaving the company with no viable business activity unless it initiates or acquires a new non-competing venture. As of December 31, 2025, Borqs reported total assets of $8.5 million, including $2.6 million in cash, and a net loss of $4.8 million for the year.

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