Report of Foreign Issuer (6-k)
April 30 2020 - 4:31PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of April
2020
Commission File Number
001-37593
BORQS TECHNOLOGIES,
INC.
(Translation of registrant's
name into English)
Building B23-A
Universal Business
Park
No. 10 Jiuxianqiao
Road
Chaoyang District,
Beijing 100015, China
(Address of principal
executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒
Form 40-F ☐
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐.
Note: Regulation S-T Rule 101(b)(1)
only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐.
Note: Regulation S-T Rule 101(b)(7)
only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled
or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which
the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to
be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been
the subject of a Form 6-K submission or other Commission filing on EDGAR.
Borqs Technologies, Inc. (the “Company”)
will be relying on the Securities and Exchange Commission’s Order under Section 36 of the Securities Exchange Act of 1934
Granting Exemptions From Specified Provisions of the Exchange Act and Certain Rules Thereunder dated March 4, 2020 (Release No.
34-88318) (the “March 4 Order”) to delay the filing of its Annual Report on Form 20-F for the year ended December 31,
2019 (the “Report”) due to the circumstances related to COVID-19. The Securities and Exchange Commission amended its
Order under Section 36 of the Securities Exchange Act of 1934 Modifying Exemptions From Specified Provisions of the Exchange Act
and Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88465) to cover filings due on or before July 1, 2020 (“March
25 Order”). The March 25 Order supersedes the March 4 Order.
In particular, COVID-19 has caused severe disruptions
in transportation and limited access to the Company’s facilities resulting in limited support from its staff and professional
advisors. This has, in turn, delayed the Company’s ability to complete its audit and prepare the Report. Notwithstanding
the foregoing, the Company expects to file the Report no later than June 15, 2020 (which is 45 days from the Report’s original
filing deadline of April 30, 2020).
In light of the current COVID-19 pandemic,
the Company will be including the following Risk Factor into its Report:
The COVID-19 pandemic has negatively
affected our operations and is likely to continue to do so at least through the third quarter of 2020.
The COVID-19 pandemic has negatively affected
our operations and is likely to continue to do so at least through the third quarter of 2020. In particular, we were forced to
cease operations for a period of two months due to quarantine restrictions and safety concerns and as of the present date we are
utilizing only 50% of our employees compared to the period prior to the pandemic. The pandemic resulted in social distancing, travel
bans and quarantine, and this has limited access to our facilities, customers, management, support staff and professional advisors.
We have also experienced disruptions and delays to our supply chains. These have included disruptions from the temporary
closure of third-party supplier and manufacturer facilities, interruptions in product supply and restrictions on the export or
shipment of our products. Any disruption of our suppliers and their contract manufacturers will likely impact our sales and operating
results.
These, in turn, has not only impacted our operations,
financial condition and demand for our goods and services but our overall ability to react timely to mitigate the impact of this
event. Also, the pandemic has substantially hampered our efforts to provide our investors with timely information and comply with
our filing obligations with the SEC.
Cautionary Note Regarding Forward-Looking
Statements
This Report on Form 6-K contains statements
that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements relate to expectations or forecasts for future events, including, without limitation, our future financial or business
performance or strategies, results of operations or financial condition. These statements may be preceded by, followed by or include
the words “may,” “might,” “should,” “estimate,” “plan,” “project,”
“forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,”
“continue,” “target” or similar expressions. These forward-looking statements are based on information
available to us as of the date they were made and involve a number of risks and uncertainties which may cause them to turn out
to be wrong. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date,
and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities
laws. As a result of a number of known and unknown risks and uncertainties, including the unprecedented impact of COVID-19 pandemic
on our business, employees, consultants, service providers, stockholders, investors and other stakeholders, our actual results
or performance may be materially different from those expressed or implied by these forward-looking statements. Please refer to
our Form 20-F to be filed with the SEC as well as any subsequent filings made by us pursuant to the Exchange Act, each of which
is available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any
forward-looking statements in this presentation.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 30, 2020
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BORQS TECHNOLOGIES INC.
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By:
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/s/ Anthony K. Chan
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Name:
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Anthony K. Chan
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Title:
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Chief Financial Officer
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Borqs Technologies (PK) (USOTC:BRQSW)
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