 Borqs Technologies, Inc. BRQS, the Company, or BRQS, a global leader in embedded software and products for the Internet of Things IoT industry, today announced that the Company has signed a non-binding term-sheet on June 16, 2020 with China Health Industries Holdings, Inc. CHHE where CHHE intends to purchase up to 12 million of BRQS ordinary shares at the market price and warrants which have a two-year term and are exercisable at a premium of 25 above the sales price of the ordinary shares. BRQS intends to use the proceeds of the CHHE investment for working capital and to form a new joint-venture subsidiary with CHHE particularly for the development and the procurement of mobile connected medical IoT products based on Qualcomms 5G technology. 