I have not seen in the SEC filings that the 60 percent acquisition is completed of KADI by BRQS. So I can’t confirm that. However I don’t see either that BRQS is default or that BRQS has rescinded the deal or that they sold their interest in KADI.
I have read that due to economic conditions from COVID that BRQS “MAY” suspend further payments under the agreement or sell some or all of this interests back to KADI. As of today I don’t see any filings or announcements that BRQS has taken an action.
The fact that they have successfully completed a round of funding and are receiving Chinese govt backing on the huzhou 5G park including a rent free 1.4 acre facility tells me that they are going to manufacturing. What exactly ? I can only speculate auto EV related components as their facility is located in the EV hub of Huzhou, Zheijang province. Geely is opening a facility in the new area too.
Here is the KADI contract
Here is a recent filing