Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC
Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC
SANTA CLARA, Calif., Oct. 06, 2023 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, "Borqs", or the "Company"), a global provider of 5G wireless and Internet of Things (IoT) solutions, today announced that it has received multiple non-binding indications of interest for its stake in Holu Hou Energy LLC ("HHE") and a selected group of potential buyers have been invited to participate in the second round of due diligence and negotiations for the complete divestment of the Company's interest in HHE.
加利福尼亚州圣克拉拉，2023年10月6日（GLOBE NEWSWIRE）——全球5G无线和物联网（IoT）解决方案提供商Borqs Technologies, Inc.（纳斯达克股票代码：BRQS、“Borqs” 或 “公司”）今天宣布，已收到多份不具约束力的意向书，表示有兴趣持有Holu Hou Energy LLC（“HHE”）股份，并已邀请了一批精选的潜在买家参与第二轮尽职调查和谈判，以完全剥离公司在HHE的权益。
As previously announced, the Company was mandated by CFIUS to divest its ownership in the solar energy storage subsidiary, HHE, due to national security concerns. Subsequently, Cantor Fitzgerald & Co., a nationally reputable investment firm, was engaged by the Company to initiate and manage the sales process of the Company's ownership in HHE and has received considerable interest from potential buyers. The said transaction is on track to be finalized by the end of the year.
正如先前宣布的那样，出于国家安全考虑，CFIUS授权该公司剥离其在太阳能储能子公司HHE的所有权。随后，公司聘请了全国知名的投资公司Cantor Fitzgerald & Co. 来启动和管理公司在HHE的所有权的销售流程，并引起了潜在买家的极大兴趣。上述交易有望在今年年底之前完成。
"Proceeds from the divestment will be used for the growth of our business, making strategic M&A, and we will also consider a share buyback program and/or a special dividend payout in order to enhance our shareholder value," said Mr. Pat Chan, CEO of Borqs Technologies.
Borqs Technologies首席执行官Pat Chan表示：“撤资所得将用于业务增长，进行战略性并购，我们还将考虑股票回购计划和/或特别股息支付，以提高我们的股东价值。”
About Borqs Technologies, Inc.
关于 Borqs Technologies,
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 service 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.
Borqs Technologies（纳斯达克股票代码：BRQS、“Borqs” 或 “公司”）是物联网软件和产品的全球领导者，提供基于安卓系统的可定制、差异化和可扩展的智能互联设备和云服务解决方案。作为一家创新的端到端物联网解决方案提供商，Borqs利用其战略芯片组合作伙伴关系以及广泛的软件和IP产品组合，取得了领导地位和客户认可。Borqs的独特优势包括其Android许可证，该许可证使公司能够开发涵盖芯片组软件、Android增强功能、特定领域用途和系统性能优化的软件IP库，适用于大容量和小批量定制产品，目前还在为手机和热点开发5G产品。