NaaS Technology Holds NASDAQ Bell-ringing Ceremony in Anji, Zhejiang, China

Rhea-AI Summary

NaaS Technology Inc. (NASDAQ: NAAS) celebrated its public listing on NASDAQ with a bell-ringing ceremony on June 28, 2022, after its formal listing on June 13, 2022. As China's first listed pure play EV charging service provider, NaaS aims to improve energy efficiency by 10% and reduce carbon emissions by 1%. As of December 31, 2021, the company operated 290,000 charging piles, including over 70% fast chargers, contributing to 18% of China's public charging volume. NaaS is positioned to lead in the growing renewable energy market in China.

Positive

• NaaS is the first publicly listed pure play EV charging service provider in China.
• The company operates 290,000 charging piles, representing 51% of all public fast-charging piles in China.
• It contributed 18% of China's total public charging volume in 2021 with over 1,233 GWh charged.
• Strong potential for growth in the EV-relevant services market in China.

Negative

• None.

HUZHOU, China, June 30, 2022 /PRNewswire/ -- NaaS Technology Inc. (NASDAQ: NAAS) ("NaaS", the "Company"), China's first listed pure play electric vehicle ("EV") charging service company, held a bell-ringing ceremony to celebrate the Company's public listing on the NASDAQ at its headquarters in Anji, Zhejiang Province on June 28, 2022, simultaneously with a virtual equivalent taking place at the NASDAQ Stock Exchange, following the Company's formal listing on the exchange on June 13, 2022.

"NaaS has become the first publicly listed Chinese charging service provider, which is not only a gift from today but also a test for tomorrow. The Chinese renewable energy sector still has much further to go when it comes to adopting digital technologies and it will require the cooperative efforts of all industry players to further the sector's growth," said Cathy Wang, Founder and CEO of NaaS. "The transportation sector now accounts for 10% of China's total carbon emissions. Our mission is to help increase the country's energy efficiency by 10% and reduce the overall carbon emissions by 1%, with the ultimate goal of creating a better world for future generations through our efforts."

NaaS, headquartered in Anji, Zhejiang province, is one of China's largest and fastest-growing renewable energy service providers. The Company is committed to providing online and offline charging solutions as well as non-charging services to charging pile manufacturers, station operators, and to EV OEMs. The Company's vision is to improve the efficiency of the energy delivery systems by building a renewable energy-based charging ecosystem, through the application of digital technologies.

As of December 31, 2021, NaaS was serving 290,000 charging piles, of which over 70% are fast chargers, representing 51% of all of China's public fast-charging piles and serving approximately 1.9 million end users. In 2021, the total electricity charged through NaaS exceeded 1,233 GWh, representing 18% of China's total public charging volume.

"We welcome NaaS to the NASDAQ family. Decarbonization and carbon neutrality is a focus the world over. The market for EV-relevant services is huge. We can foresee great potential for NaaS for the years to come." added Mr. Bob McCooey, Vice Chairman and Global Head of Capital Markets for NASDAQ.

"As a leader in the Chinese EV charging service market, NaaS is well-positioned to play an even more important role, creating both commercial and social value, as the Chinese transportation sector enters an era where vehicles are fueled by both oil and electricity," said Bain Capital's Managing Director, Mr. Jia Zhu. "Furthermore, China, as the largest renewable energy market in the world, can be expected to provide unprecedented opportunities to industry leaders, who are driving digital transformation."

For more information, please visit NaaS Technology Inc.

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SOURCE NaaS

FAQ

What is NaaS Technology's stock symbol?

NaaS Technology's stock symbol is NAAS.

When did NaaS Technology hold its bell-ringing ceremony?

NaaS Technology held its bell-ringing ceremony on June 28, 2022.

What percentage of public fast-charging piles in China does NaaS Technology operate?

NaaS Technology operates 51% of all public fast-charging piles in China.

What are NaaS Technology's goals regarding carbon emissions and energy efficiency?

NaaS Technology aims to improve energy efficiency by 10% and reduce carbon emissions by 1%.

How many end users does NaaS Technology serve?

NaaS Technology serves approximately 1.9 million end users.