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NaaS Technology Inc. is a leading electric vehicle (EV) charging service provider in China, dedicated to revolutionizing the energy sector with carbon-neutral solutions. Listed on the NASDAQ under the symbol NAAS, the company offers an integrated suite of online and offline services to charging station operators, enhancing their operational efficiency and customer satisfaction.
NaaS provides a comprehensive range of services that cater to every need of the EV charging ecosystem. From siting consultation, software and hardware procurement, to EPC (Engineering, Procurement, and Construction), operation and maintenance, and energy storage solutions, NaaS simplifies the intricacies of managing charging stations. The company's robust digital platform also offers non-charging services, such as food and beverage options for station operators, ensuring a holistic service experience.
Recent financial results highlight NaaS's impressive growth trajectory. In 2023, the company reported a revenue of RMB320.1 million (US$45.1 million), reflecting a remarkable year-over-year growth of 245%. Gross profit surged to RMB88.8 million (US$12.5 million), with gross margins increasing from 6.6% to 27.7%. The charging volume through NaaS's network rose by 81% YoY, reaching 4,958 GWh. Additionally, the gross transaction value saw a 74% YoY increase, amounting to RMB4.7 billion (US$661.6 million).
NaaS's network is expansive, connecting 875,655 EV chargers across 77,017 charging stations as of the end of 2023. This extensive network is further bolstered by strategic partnerships with leading national operators and automobile manufacturers, including Deepal Automobile, GAC Energy Technology Co., Ltd., and Great Wall Motors. These collaborations not only enhance NaaS's service offerings but also strengthen its technological capabilities, enabling it to deliver optimized energy solutions worldwide.
One of the notable recent developments includes NaaS's partnership with Beijing Car Network New Energy Co., Ltd. (CNNE), aimed at improving the connectivity and customer flow of public EV charging piles in Beijing. This collaboration is set to integrate NaaS's digital capabilities with CNNE's charging stations, providing EV owners with enhanced services such as pricing information, one-click charging, and online payment options.
NaaS has also been recognized in the Global Unicorn Index, highlighting its status as a significant player in the new energy sector. The company's digital solutions in energy management, including the NEF (NaaS Energy Fintech) system, are designed to optimize the operation, trading, and coordination of transport energy. This innovation underscores NaaS's commitment to leveraging AI and digital technologies to drive high-quality development in the energy sector.
NaaS Technology Inc. is not only transforming the EV charging landscape but also positioning itself as a pivotal force in the global energy transition. With its continuous focus on innovation, strategic partnerships, and financial growth, NaaS is set to play a crucial role in the future of sustainable energy solutions.
NaaS Technology Inc. (NAAS) has expanded its charging network to cover 360 cities in China by the end of 2024, representing over 50% of China's total 694 cities. Approximately 170 of these cities saw charging volume increase by more than 50% in 2024 compared to 2023.
On the supply side, NaaS connected nearly 1.15 million chargers as of September 30, 2024, representing about 35% of China's total public charging infrastructure. The company has strengthened its demand-side operations through partnerships with major automotive brands including BYD's sub-brands, NETA, IM Motors, Hongqi, and FAW-Volkswagen.
The company reported a record high gross margin of 57% for Q3 2024, reflecting successful implementation of its core charging services strategy and technological advancements.
NaaS Technology (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in the Huachuang Securities 2025 Annual Strategy Conference. The event will take place in Shenzhen, China on Wednesday, January 8, 2025, with NaaS's session scheduled for 1:30 p.m. Beijing Time.
Investors interested in connecting with NaaS management can arrange one-on-one meetings through their event representative or by contacting the company's investor relations team at ir@enaas.com.
NaaS Technology Inc. (NAAS), a leading Chinese EV charging service provider, has announced its upcoming Annual General Meeting (AGM) scheduled for January 25, 2025, at 3:00 PM Beijing time. The meeting will be held at the Grand Skylight Yue Hotel in Beijing's Daxing District.
Shareholders of record as of December 27, 2024 (Cayman Islands time) are eligible to attend and vote at the AGM. ADS holders as of December 27, 2024 (New York City time) can exercise their voting rights through JPMorgan Chase Bank, N.A., the Company's ADS program depositary.
The Board of Directors has expressed full support for the proposed resolutions and recommends shareholders and ADS holders vote in favor. Details of the resolutions and proxy cards are available on the company's investor relations website and have been filed with the SEC via Form 6-K.
NaaS Technology (Nasdaq: NAAS) announced a strategic MOU with NHOA.TCC, a TCC Group subsidiary, to enhance charging interconnectivity in China. The partnership will integrate approximately 200 charging terminals at TCC Hangzhou C.F. KOO Building, equipped with photovoltaic and energy storage systems.
NaaS will provide comprehensive services including user profiling, targeted marketing, and payment solutions, leveraging its AI-driven NEF system for real-time monitoring and dynamic pricing. The collaboration comes amid strong growth in China's NEV market, with November 2024 retail sales reaching 1.298 million units, up 50.5% year-over-year, and NEV penetration exceeding 50% for five consecutive months.
NaaS Technology (Nasdaq: NAAS) has maintained its ESG Entity Rating of '2' from Sustainable Fitch, with an improved entity score of 78 from 76. The company ranks first in Asia-Pacific and eleventh worldwide among 170 rated companies across seven industries. NaaS is the first company in China to receive the 'pure-play' label from Sustainable Fitch.
The improved score reflects the growth of NaaS's green energy solutions business, including expanded services, geographical reach, and client base. The company has implemented a comprehensive climate change management system aligned with IFRS S2 standards and targets carbon neutrality and 100% renewable energy use by 2028.
NaaS demonstrates strong social responsibility through adherence to UN Global Compact standards and contributes to China's rural revitalization by expanding EV charging services. The company's 'Green Charging, Green World' strategy, based on the five pillars of GREEN (Governance, Reinvention, Eco-consciousness, Empathy, and Nurture), guides its sustainability efforts.
NaaS Technology Inc. (NAAS) has announced a strategic partnership with State Grid Hebei to integrate over 2,800 public chargers into its partner Kuaidian's charging network. The collaboration will enhance charging services for more than one million EV owners across key cities in Hebei Province, including Shijiazhuang, Baoding, Xingtai, Cangzhou, Handan, and Hengshui.
The partnership leverages NaaS's NEF (NaaS Energy Fintech) system's AI capabilities to provide features like real-time charger availability, one-click payments, and navigational support. Hebei Province currently has approximately 1.03 million new energy vehicles and 95,000 public chargers, ranking fourth in China for public charging volume. The region shows strong EV adoption growth, with Shijiazhuang achieving a 49.95% new car sales penetration and 45.4% year-on-year sales increase in September 2024.
NaaS Technology (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in three major investor conferences in December 2024. The company will attend the GuruClub Global Investment Carnival 2025 on December 5, the Guotai Junan 2025 Annual Strategy Conference on December 10, and The 9th Zhitongcaijing Capital Market Annual Conference on December 12. All events will take place in Shenzhen, China.
Investors interested in meeting with NaaS management can schedule one-on-one meetings through their event representatives or by contacting the company's investor relations team at ir@enaas.com.
NaaS Technology Inc. (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in three major investor conferences in November 2024. The company will attend the Huafu Securities 2024 Technology & Smart Manufacturing Strategy Conference in Shenzhen on November 25, the NaaS 2024 Institutional Investor Virtual Conference online on November 26, and the Tianfeng Securities 'Decisive Moment' 2025 Annual Strategy Conference in Shenzhen on November 27. Investors interested in meeting with NaaS management can arrange meetings through their event representatives or by contacting the company's investor relations team.
NaaS Technology reported significant financial improvements in Q3 2024, achieving its first positive non-IFRS net profit of RMB20.6 million (US$2.9 million). The company reached a record-high gross margin of 57%, while IFRS net loss approached breakeven at RMB8.3 million. Charging services revenue grew 36% year-over-year, representing 95% of total revenue. The company's platform saw a 34% increase in transaction users and 49% growth in connected chargers, while reducing sales expenses by 81%. The proportion of orders with positive Net Take Rate reached 73%, demonstrating improved operational efficiency.
NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, has announced it will release its unaudited financial results for the third quarter ended September 30, 2024 before U.S. market opens on November 20, 2024. The company will host an earnings conference call at 8:00 AM U.S. Eastern time (9:00 PM Beijing/Hong Kong time) on the same day. Participants can join via dial-in numbers after online registration, and a live and archived webcast will be available on the company's investor relations website. A replay will be accessible until November 27, 2024.
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