Borqs Technologies ( (BRQSF) ) has released a notification of late filing.
Borqs Technologies, Inc. has announced a delay in filing its Annual Report on Form 20-F (Yearly Report) for the fiscal year ending December 31, 2024. The delay is primarily due to the ongoing process of compiling necessary information and finalizing financial statements. The company anticipates filing the report within fifteen calendar days following the original due date. Financially, Borqs Technologies expects significant changes, reporting an estimated revenue increase to $27.7 million, up by approximately 34.5% from the previous year, and a shift from a net loss to a net income of $17.3 million, attributed to the sale of a solar subsidiary and share cancellations. The company remains committed to compliance, with CEO Pat Sek Yuen Chan signing off on the notification.
Spark’s Take on BRQSF Stock
According to Spark, TipRanks’ AI Analyst, BRQSF is a Underperform.
Borqs Technologies faces significant financial difficulties, with declining revenues and negative equity as primary concerns. The technical indicators reflect weak market momentum, and the absence of valuation metrics like P/E ratio and dividend yield compounds the uncertainty. The overall score is heavily influenced by the company’s precarious financial situation and lack of positive growth indicators.
To see Spark’s full report on BRQSF stock, click here.
More about Borqs Technologies
YTD Price Performance: -16.09%
Average Trading Volume: 16,900
Technical Sentiment Signal: Buy
Current Market Cap: $5.4M
For detailed information about BRQSF stock, go to TipRanks’ Stock Analysis page.