Welcome to our dedicated page for NaaS Technology American Depositary Shares news (Ticker: NAAS), a resource for investors and traders seeking the latest updates and insights on NaaS Technology American Depositary Shares stock.
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 (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.
NaaS Technology (Nasdaq: NAAS) has successfully launched the Zhejiang Province Charging Infrastructure Governance and Supervision Service Platform in collaboration with the Energy Bureau of Zhejiang Province. The platform, awarded to NaaS in December 2023, integrates the company's proprietary NEF system with government cloud resources to optimize EV charging infrastructure layout and operations. Notable operational improvements include a reduction in marketing expenses from 177% to 57% of revenue in Q2 2024, alongside 60% growth in registered users and 90% increase in transaction users.
NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, announced that its Chief Financial Officer, Steven Sim, will participate in UBS's Charging Industry Call Series. The online event, titled 'Charged Up: Inflection of Earnings,' will be moderated by UBS's Head of China Auto Research, Wei Shen, and is scheduled for November 4, 2024, at 5:00 p.m. Beijing Time. Interested investors should contact their UBS institutional sales representative to join the event.
NaaS Technology Inc. (Nasdaq: NAAS) reported connecting approximately 1.15 million chargers to its charging network as of September 30, 2024, marking a 30% increase from the end of 2023. This growth surpassed the national average of 22% for the same period. The company's expansion is supported by AI-powered technologies and its Energy Fintech system, which enhance operational efficiency and enable predictive maintenance and strategic site selection. The company aims to improve the EV charging ecosystem through digital innovation and strategic partnerships.
FAQ
What is the current stock price of NaaS Technology American Depositary Shares (NAAS)?
What is the market cap of NaaS Technology American Depositary Shares (NAAS)?
What does NaaS Technology Inc. do?
What is NaaS Technology Inc.'s stock symbol?
What are NaaS's recent financial highlights?
Who are NaaS Technology Inc.'s key partners?
What is the NEF system?
How many EV chargers are connected to NaaS's network?
What makes NaaS unique in the energy sector?
What recent partnerships has NaaS formed?
How does NaaS support charging station operators?
What role does NaaS play in the global energy transition?
