An unknown buyer entered into letter of intent to acquire Holu Hou Energy LLC from Borqs Technologies, Inc. (NasdaqCM:BRQS) on December 13, 2022. Borqs Technologies, Inc. has received a letter dated December 13, 2022 from the Department of the Treasury on behalf of the Committee on Foreign Investment in the United States stating that the Borqs is required to negotiate with Committee on Foreign Investment in the United States to fully divest its ownership interests and rights in Holu Hou Energy LLC (“HHE”) due to HHE solar energy storage system and EnergyShare technology for Multi-Dwelling Residential Units (“MDU's”) being deemed a critical technology and therefore a potential national security risk.