Borqs Technologies Reports Half-Year 2024 Financial Results; Successfully Increases Efficiency
Borqs Technologies Reports Half-Year 2024 Financial Results; Successfully Increases Efficiency
SANTA CLARA, Calif., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (U.S. OTC: BRQSF, "Borqs" or the "Company"), a global provider of embedded software and products for the Internet of Things (IoT), today announced its financial results for the first half of 2024. Interim financial statements were filed today with the SEC.
加利福尼亞州聖克拉拉,2024年12月23日(環球新聞專線)——物聯網(IoT)嵌入式軟體和產品的全球提供商Borqs Technologies, Inc.(美國場外交易代碼:BRQSF,「Borqs」 或 「公司」)今天公佈了2024年上半年的財務業績。今天向美國證券交易委員會提交了中期財務報表。
First-Half 2024 Financial Highlights
2024 年上半年財務摘要
For the six months ended June 30, | ||||
2024 | 2023 | vs. H1 2023 | ||
Revenues ($K) | 16,773 | 14,992 | + 11.9% | |
Gross Margin | 20.2% | 19.4% | Up 0.8% | |
Operating expenses ($K) | 7,082 | 11,996 | - 41.0% | |
Net income (loss) from operations | 15,023 | -28,801 | n/a |
在截至6月30日的六個月中 | ||||
2024 | 2023 | 對比 2023 年上半年 | ||
收入(千美元) | 16,773 | 14,992 | + 11.9% | |
毛利率 | 20.2% | 19.4% | 上漲 0.8% | |
運營費用(千美元) | 7,082 | 11,996 | -41.0% | |
運營淨收益(虧損) | 15,023 | -28,801 | 不適用 |
For the six months ended June 30, 2024, Borqs reported total net revenues of US$16.77 million, reflecting an increase from US$14.99 million in the same period of 2023, an increase of 11.9%, driven by strong performances in both software and hardware segments. The Company achieved a total gross profit of US$3.39 million, up from US$2.91 million in the prior year. This positive performance underscores our commitment to operational efficiency, with total operating expenses decreasing significantly to US$7.08 million from US$12 million from the same period last year, primarily due to a reduction in general and administrative expenses.
在截至2024年6月30日的六個月中,Borqs報告的總淨收入爲1,677萬美元,較2023年同期的1,499萬美元有所增加,增長了11.9%,這得益於軟體和硬件領域的強勁表現。該公司的總毛利爲339萬美元,高於去年的291萬美元。這一積極的業績凸顯了我們對運營效率的承諾,總運營支出從去年同期的1,200萬美元大幅下降至708萬美元,這主要是由於一般和管理開支的減少。
As a result of these strategic initiatives and the completed sale of the Company's interests in the solar subsidiary, Borqs recorded a net income of US$15.02 million from operations for the first half of 2024, a remarkable turnaround from a net loss of US$28.80 million in the same period of the previous year. This notable improvement has been supported by gains realized from the disposal of subsidiary interests and the cancellation of shares related to the former subsidiary.
由於這些戰略舉措以及公司完成了對太陽能子公司權益的出售,Borqs在2024年上半年的運營淨收入爲1,502萬美元,與去年同期的淨虧損2880萬美元相比有了顯著的轉變。這一顯著改善得到了出售子公司權益和註銷與前子公司相關的股份所實現的收益的支持。
"Our H1 results highlight the significant progress we are making in executing our recently outlined capital structure revamp," said Pat Chan, Chairman & CEO of Borqs. "The strategic actions we implemented in the first half of this year position us for improved profitability and enhanced liquidity going forward. We are encouraged by the positive underlying trends that these results reflect."
Borqs董事長兼首席執行官Pat Chan表示:「我們的上半年業績凸顯了我們在執行最近概述的資本結構改革方面取得的重大進展。」「我們在今年上半年實施的戰略行動使我們能夠提高盈利能力,增加未來的流動性。這些結果所反映的積極潛在趨勢令我們感到鼓舞。」
About Borqs Technologies, Inc.
Borqs Technologies 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 and Android Wear 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.
關於 Borqs 科技公司
Borqs Technologies是物聯網軟體和產品的全球領導者,提供可定製、差異化和可擴展的基於Android的智能互聯設備和雲服務解決方案。作爲一家創新的端到端物聯網解決方案提供商,Borqs憑藉其戰略芯片組合作夥伴關係以及廣泛的軟體和IP產品組合,取得了領導地位和客戶認可。Borqs的獨特優勢包括其Android和Android Wear許可證,這使公司能夠開發軟體IP庫,涵蓋芯片組軟體、安卓增強功能、特定領域的使用和系統性能優化,適用於大批量和小批量定製產品。
Investor relations contact:
E: IR@borqs.com
投資者關係聯繫人:
E: IR@borqs.com
Disclaimer on Forward Looking Statements:
Certain statements in this release are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations. Words such as "expects", "believes", "anticipates", "intends", "estimates", "predicts", "seeks", "may", "might", "plan", "possible", "should" 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 trends as described herein may not continue, and the previously announced contemplated transactions between Borqs and Sasken Technologies, Inc. may not be consummated as described, or at all, and that the positive benefits of the transactions, stock buy-back and the future investment possibilities may not transpire as described or at all. The reader is advised to refer to both companies' filings with their respective securities and exchange authorities 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 and other regulatory requirements, the companies disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
前瞻性陳述免責聲明:
本新聞稿中的某些陳述是前瞻性陳述,涉及許多風險和不確定性,由於與我們的預期相關的風險或不確定性,這些陳述可能導致實際業績與此類前瞻性陳述存在重大差異。諸如 「期望」、「相信」、「預期」、「打算」、「預測」、「尋求」、「可能」、「可能」、「計劃」、「可能」、「可能」、「應該」 等詞語以及類似的詞語和表述旨在識別此類前瞻性陳述,但沒有這些詞語並不意味着陳述不是前瞻性的。根據當前可用信息,此類前瞻性陳述與未來事件或未來業績有關,反映了我們管理層當前的信念。許多因素可能導致實際事件或結果與前瞻性陳述中討論的事件和結果存在重大差異,包括本文所述的積極趨勢可能無法持續下去,Borqs和Sasken Technologies, Inc.先前宣佈的計劃交易可能無法按描述或根本無法完成,交易、股票回購和未來投資可能性的積極收益可能根本無法如描述的那樣發生。建議讀者參考兩家公司向各自證券交易機構提交的文件,以獲取更多信息,以確定可能導致實際業績與前瞻性陳述中預期的業績存在重大差異的重要因素。除非適用的證券法和其他監管要求明確要求,否則兩家公司均不承擔更新任何前瞻性陳述的義務,無論是由於新信息、未來事件還是其他原因。