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BRQSF

BORQS TECHNOLOGIES, INC.
CIK 0001650575 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
94.5
composite ยท 4 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท TRIGGERED100.0

Earnings quality

Beneish M-Score 19.26 exceeds the -1.78 manipulation threshold
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-05-15) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": 19.263,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 2.74,
    "GMI": 5.68,
    "AQI": 0.059,
    "SGI": 0.491,
    "DEPI": 1.345,
    "SGAI": 1,
    "LVGI": 0.174,
    "TATA": 3.889
  },
  "defaulted_to_neutral": [
    "SGAI"
  ],
  "sloan_accruals": 1.9588,
  "inputs": {
    "revenue_t": 13602000,
    "revenue_t1": 27713000,
    "total_assets_t": 8554000,
    "net_income_t": 5365000,
    "cfo_t": -27899000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1650575/000121390026057706/0001213900-26-057706-index.htm",
    "form": "20-F",
    "filed": "2026-05-15"
  }
}
P-05 ยท FY 2025-12-31 ยท ELEVATED100.0

Tax arbitrage

ETR 0.1% vs 21% statutory โ€” gap persistent across 2 of 2 years
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-05-15) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.0005,
    "2024-12-31": 0.0005
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.2095,
    "2024-12-31": 0.2095
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1650575/000121390026057706/0001213900-26-057706-index.htm",
    "form": "20-F",
    "filed": "2026-05-15"
  }
}
P-12 ยท FY 2025-12-31 ยท ELEVATED58.7

Restatement predictor

F-Score 1.76 โ€” misstatement risk 1.8x the base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-05-15) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 1.762,
  "probability": 0.00652,
  "components": {
    "rsst": 1.9588,
    "drec": 0.0024,
    "dinv": null,
    "soft": 0.6935,
    "dcs": -0.5106,
    "droa": -0.0299,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1650575/000121390026057706/0001213900-26-057706-index.htm",
    "form": "20-F",
    "filed": "2026-05-15"
  }
}
P-13 ยท FY 2022-12-31 ยท ELEVATED62.3

Zombie / distress

[FY2022 data, stale โ€” no more recent EBIT figure in XBRL] Interest coverage -0.29x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-05-15) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": null,
    "2022-12-31": -0.294
  },
  "consecutive_years_below_1": 1,
  "altman_z_double_prime": -36.202,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -3449000,
    "interest_expense_t": 11732000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1650575/000121390025043752/0001213900-25-043752-index.htm",
    "form": "20-F",
    "filed": "2025-05-15"
  }
}