Borqs Technologies, Inc. (Nasdaq: BRQS, "Borqs", or the "Company"), a global provider of embedded software and products for the Internet of Things (IoT), today reported that construction of the Company's new manufacturing facilities in Huzhou, China has been completed.

For the first time since its founding in 2007, the Company has its own micro-electronics manufacturing line. Located at Huzhou South Taihu New Area of Zhejiang province, the facilities are intended to lower production costs instead of using contracted third-party facilities. Certain manufacturing activities will immediately be moved in-house. This initial phase has the capacity of up to 700,000 units of products per year depending on complexity, and can easily scale up as demand increases.

About Huzhou South Taihu New Area of Zhejiang province, China

The South Taihu New Area of Huzhou City was officially established on June 2, 2019 and is one of the four new areas established by the provincial government. It is located in the northern part of Zhejiang Province at the south shore of the Taihu Lake, with a total planning area of 225 square kilometers. Accessible by high speed railway and five express highways, the area is also connected with the inland water transportation channels in China. There are four international airports around the new area, including Hongqiao and Pudong in Shanghai, Xiaoshan in Hangzhou and Lukou in Nanjing.

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. The Company is also currently in development of 5G products for phones and hotspots.

Forward-Looking Statements and Additional Information

This press release includes "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from what is expected. 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 new facilities will not lower production costs to the extent intended or at all, that the Company may not receive actual orders in any amounts expected, and the negative impact of the coronavirus on the Company's supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company's filings with the Securities and Exchange Commission 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, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Sentage Holdings Inc. (the "Company"), a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China, today announced the pricing of its initial public offering ("Offering") of 4,000,000 ordinary shares at a public offering price of US$5.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 9, 2021 under the ticker symbol "SNTG".

The Company expects to receive aggregate gross proceeds of US$20.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 600,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about July 13, 2021, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for acquisitions of business entities and operations that are similar to the Company's, general business operations, business fund for loan recommendation business, business fund for prepaid payment network services, and business fund for consumer loan repayment and collection management services.

The Offering is being conducted on a firm commitment basis. Network 1 Financial Securities, Inc. is acting as the representative of the underwriters for the Offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and Loeb & Loeb LLP is acting as counsel to Network 1 Financial Securities, Inc. in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission ("SEC") (File Number: 333-254558) and was declared effective by the SEC on July 8, 2021. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained from Network 1 Financial Securities, Inc. by email at kmu@netw1.com, by calling +1 (800)-886-7007, or by standard mail to Network 1 Financial Securities, Inc. 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Sentage Holdings Inc.

Sentage Holdings Inc., headquartered in Shanghai, China, is a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China. Leveraging the Company's deep understanding of its client base, strategic partner relationships, and proprietary valuation models and technologies, the Company is committed to working with its clients to understand their financial needs and challenges and offering customized services to help them meet their respective objectives. For more information, visit the company's website at ir.sentageholdings.com.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company's registration statement.

The Hytera 4G LTE Intelligent Communications Solution for Mining offers an integrated platform capable of supporting a wide range of audio, video, data and M2M/IoT applications suitable for surface, strip, open-pit and underground mining.

Global trends impacting the mining industry

The mining and metals industry faces a number of challenges including fluctuating demand for ores and metals, excess capacity, and increased competition from competing materials, leading to weaker prices. The most accessible high-quality deposits are already being exploited, forcing the industry to develop lower-quality ores in more remote regions.

Mining faces more stringent environmental and safety regulations and the requirement to engage more with local communities. The industry also suffers from an ageing workforce, but is finding it hard to recruit younger people with modern technological skills. All of these factors are driving up costs.

Development and value trends

To meet these challenges, mining companies must reduce operating costs and boost efficiency, productivity and safety if they are to achieve profitability. Increased digitalization of the industry is one way to do this.

Greater investment in automation, robotics, in-pit mobility solutions, data-centric analytics and the creation of a digitally enabled workforce is key. Digitally enabled hardware tools are being deployed to perform or improve activities that have traditionally been carried out manually or with human-controlled machinery.

But too often automated processes, IT layers, communication systems and monitoring regimes operate in silos. To achieve the real benefits of digitalization, the industry needs to become an integrated enterprise using connected platforms supported by next-generation analytics.

Field teams can be empowered by using connected audio, video and data mobility solutions, along with virtual and augmented reality applications. By leveraging algorithms and artificial intelligence to process data from telemetry and SCADA systems, mining companies can exploit big data analytics. This information will improve real-time situational awareness and decision making, as well as providing valuable data to shape future projections and strategies.

How digital communication solutions benefit the mining industry

The Hytera Intelligent Communications Solution for Mining can help the industry realize the benefits of digitization. It provides a highly transportable end-to-end broadband solution including terminals, network, data center and command and dispatch center. It is capable of supporting sophisticated automation, data analytics, and all the voice, video, data and M2M/IoT applications used in the mining industry.

The fully 3GPP-compliant 4G/5G solution provides a complete wireless broadband network including radio access network (RAN), backhaul, LTE core, device and network management. Multiple services can be run simultaneously over the high throughput and resilient 4/5G network, including: Mission Critical Push-to-X (Voice/Data/Video); real-time video streaming; telemetry/SCADA; and M2M/IoT sensor monitoring. Low latency transmission rates (less than 100ms) enable precise control of remote automated operations.

The various technologies can all be managed using one unified command and visualized dispatch center and a remote control center, which receive and distribute real-time information from and to the field operations. The network infrastructure also supports intelligent data analytics and artificial intelligence applications.

Hytera's communications solutions support the mining industry

Hytera's solutions have been successfully applied in the mining industry where they have helped customers solve their communication problems. For example, JSC AK Altynalmas has deployed a Hytera Hytalk (PoC) LTE platform and terminals in Kazakhstan, while the Letpadaung Copper Mine in Myanmar is using an integrated Hytera DMR and LTE solution.

Hytera's Intelligent Communications Solution for Mining provides instant voice, video and data communications to deliver team members the information they need to know to carry out their work. Hytera's communications solution supports a rich ecosystem of real-time intelligence, which enables teams to work more efficiently, productively and safely.

There were fears by some economic pundits that this would happen as a direct consequence of the 2019 Osaka Summit. The Big G20 Osaka Summit acknowledged that the world economy was generally stuttering. The conference even seemed to call for sweeping austerity measures to counteract this. Indeed, at some point, there were valid fears that the major currencies of many countries, including China and Japan, would suffer. This was even though these are some of the most stable currencies in Asia and the world. Happily, to boost exports among nations and increase healthy commercial competition, the G-20 Osaka summit, instead made a resolution to discourage the emerging trend from devaluing major world currencies, including that of China.

The summit resolved not to be a party to the trend of using competitive devaluation to achieve economic goals. This seems to be the direction that many other nations also believe is the right way. Moreover, the Beijing government reiterated that China would not allow its national currency, the Yuan to depreciate as the fiscal policy on these exchange rates are clear. Further, all the six major Asian countries who are members of the G-20 concurred with this position. These countries include China, Japan, India, Indonesia, Australia, and South Korea.They all agreed with the decision discouraging countries from engaging in the competitive devaluation of their currencies.

What is the Significance of the New Plaza Accord?

Volatile exchange rates together with disorderly movements can indeed impact the financial stability of any economy negatively. A special communique of the G20 clearly outlined this. It was resolved that the G-20 countries would not target currency exchange rates resulting in competitive devaluation. Indeed, the first Plaza Accord was structured in such a manner that it could even devalue the value the mighty US dollar itself! As the situation stands, the new accord is significantly different from the previous one. The communique itself puts out a direct statement with regards to this.

Will these fiscal policies boost Japan and China's Economy?

The Bank of Japan has introduced negative interest rates in an attempt to hit a two-percent inflation targeted goal. The country has also implemented structural reform. In this strategy, bills have been fostered to strengthen specific structural changes. This also includes labor market reform. Japan has shown that it is adhering to the G-20 agreements and policies. This has been done by the nation's incorporation of all the tools to achieve its balanced goals.

What are the Consequences of the negative interest policy?

The Japanese Yen and the Tokyo stock market fluctuated even when the Bank of Japan suddenly introduced negative interest rates. The Japanese economy is, however, steadily expanding. Regardless, unlike the European and US economy, Japan's economy is much more stable and does not fluctuate too much. This is the reason why the Yen is still widely considered by financial pundits as a relative haven for investors. The exchange rate's movement is, however, quite radical and hard to predict. This poses a problem for whoever wishes to discern whether the Yen's value is actually falling or not

The idea advanced by the adverse interest policy was to effect a reduction of the yield curve's starting point. The curve was projected to decline, thus affecting its short end. The interest rates capped on housing and loans have been significantly reduced by most commercial banks. This was in direct response to the decline of the yield curve. There is, however, a big difference in the effects of the negative interest rates vis a vis the impact of the exchange rate movement on the markets.

What is the Impact of Negative Interest Rates on Banking?

In reality, negative interest rates have little impact on the banking industry. This is a well-designed scheme that only results in a limited increase of reserves to a rate of about 0.1 percent. The rest of the reserve continuously receives the opposite effect in favorable interest rates.

Will the Federal Reserve Bank raise the interest rates?

Generally, policies of the Federal Bank of America are usually transparent and continues to depend on crucial data. For this reason, the increase or decrease in general interest rates are completely influenced by data prepared by the bank . The rates increase only if the data allows it. Moreover, the reserve bank determines whether the economy is strong enough to support this, thereby impacting either an increase or decline.