播思科技2022年度报告

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSIONWASHINGTON,DC20549 FORM20-F (MarkOne) ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR12(g)OFTHESECURITIESEXCHANGEACTOF1934 OR ☒ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedDecember31,2022 OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Dateofeventrequiringthisshellcompanyreport:Notapplicable Forthetransitionperiodfromto Commissionfilenumber:001-37593 BORQSTECHNOLOGIES,INC. (ExactnameofRegistrantasspecifiedinitscharter) (TranslationofRegistrant’snameintoEnglish) BritishVirginIslands(Jurisdictionofincorporationororganization) OfficeB,21/F,LegendTower,7ShingYipStreetKwunTong,Kowloon,HongKong (Addressofprincipalexecutiveoffices) PatSekYuenChan,Chairman&ChiefExecutiveOfficerBorqsTechnologies,Inc. OfficeB,21/F,LegendTower,7ShingYipStreetKwunTong,Kowloon,HongKong Telephone:+85251881864,Fax:+85221140183 (Name,Telephone,E-mailand/orFacsimilenumberandAddressofCompanyContactPerson)SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofclassTradingSymbol Nameofexchangeonwhichregistered Ordinaryshares,noparvalueBRQSNasdaqCapitalMarket SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct:None SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct:NoneIndicatethenumberofoutstandingsharesofeachoftheissuer’sclassesofcapitalorordinary sharesasofthecloseoftheperiodcoveredbytheannualreport:AsofDecember31,2022,therewere57,182,633sharesoftheregistrant’sordinaryshares,noparvalue,issuedandoutstanding. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.☐Yes☒No Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934.☐Yes☒No Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.☒Yes☐No IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).☒Yes☐No Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seethedefinitionsof“largeacceleratedfiler”,“acceleratedfiler”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Large ☐Accelerated☐Non-accelerated☒ acceleratedfiler filer filer Emerginggrowth☐ company IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection13(a)oftheExchangeAct.☐ †Theterm“neworrevisedfinancialaccountingstandard”referstoanyupdateissuedbytheFinancialAccountingStandardsBoardtoitsAccountingStandardsCodificationafterApril5,2012. Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentivebasedcompensationreceivedbyanyoftheregistrant’sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b).☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☒InternationalFinancialReportingStandardsasissuedbythe International AccountingStandardsBoard☐ Other☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow. ☐Item17☐Item18 Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct). ☐Yes☒No IndicatebycheckmarkwhethertheregistranthasfiledalldocumentsandreportsrequiredtobefiledbySections12,13or15(d)oftheSecuritiesExchangeActof1934subsequenttothedistributionofsecuritiesunderaplanconfirmedbyacourt. ☐Yes☐No TABLEOFCONTENTS Page PARTIITEM1. IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS 1 ITEM2. OFFERSTATISTICSANDEXPECTEDTIMETABLE 1 ITEM3. KEYINFORMATION 1 ITEM4. INFORMATIONONTHECOMPANY 44 ITEM4A. UNRESOLVEDSTAFFCOMMENTS 54 ITEM5. OPERATINGANDFINANCIALREVIEWANDPROSPECTS 55 ITEM6. DIRECTORS,