NaaS Technology Included in Multiple Renowned Indexes

Rhea-AI Summary

NaaS Technology Inc. (Nasdaq: NAAS) has recently been listed in several prestigious indexes, including the BITA iClima Distributed Decentralized and Digital Renewable Energy Index, CSI China Mainland Enterprises Global Composite Index, CSI China Mainland Enterprises Global Industrials Composite Index, CSI Overseas China Five-Year Plan Index, CSI Overseas China Urbanization Index, and Wind China Capital 100 Index. This recognition reflects the company's global recognition and fast-growing brand influence in the EV charging service industry in China.

Insights

Market Research Analyst

The inclusion of NaaS Technology Inc. in multiple indexes is a strong signal to the market about the company's growing prominence and perceived stability within the renewable energy sector. Index inclusion often leads to increased visibility among investors and can result in greater liquidity for the company's stock. As these indexes track companies based on specific themes such as sustainability, urbanization and industrial performance, NaaS's presence suggests alignment with these investment narratives, which are increasingly relevant in a world seeking sustainable infrastructure solutions.

Furthermore, the presence in these indexes means that funds tracking them may be mandated to purchase shares of NaaS, potentially increasing demand for the stock. This could have a positive effect on the stock price, given the increased exposure and demand. However, it's important to note that index inclusion does not guarantee stock performance and should be considered as one of many factors in evaluating a company's prospects.

Financial Analyst

From a financial perspective, the announcement by NaaS Technology Inc. may be viewed as a non-operational milestone that nevertheless has implications for the company's stock. The inclusion in such indexes could lead to a re-rating of the stock as it becomes part of the investment universe for a broader range of institutional investors. This could potentially increase the stock's valuation multiples if the market perceives the company as a more credible and stable investment.

However, investors should also consider the broader market context, including the performance of the renewable energy sector, regulatory changes in China and globally and the company's own financial health. Any material changes in these areas could outweigh the impact of index inclusion. It's also critical to monitor the company's actual performance against the backdrop of its increased visibility, as index inclusion raises expectations among stakeholders.

Sustainability Investment Analyst

The inclusion of NaaS Technology Inc. in the BITA iClima Distributed Decentralized and Digital Renewable Energy Index underscores the company's role in the renewable energy space, particularly in the electric vehicle (EV) charging infrastructure. This reflects a broader trend in the investment community towards supporting companies that contribute to decarbonization and environmental sustainability.

Investors focused on Environmental, Social and Governance (ESG) criteria may interpret this inclusion as a positive development, indicating that NaaS meets certain sustainability standards. However, it's essential for these investors to conduct due diligence beyond index inclusion, critically assessing the company's actual ESG practices and impact. The long-term success of NaaS will likely depend on its ability to deliver on both its growth potential and its sustainability commitments, amidst a competitive landscape and evolving regulatory environment.

BEIJING, Dec. 29, 2023 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has recently been listed in several indexes, including the BITA iClima Distributed Decentralized and Digital Renewable Energy Index, CSI China Mainland Enterprises Global Composite Index, CSI China Mainland Enterprises Global Industrials Composite Index, CSI Overseas China Five-Year Plan Index, CSI Overseas China Urbanization Index and Wind China Capital 100 Index.

The BITA iClima Distributed Decentralized and Digital Renewable Energy Index was created in September 2022, and seeks to track global companies with exposure to innovative development surrounding renewable energy. The index selects companies primarily based on sustainability and environment protection. It now has 47 constituents including ABB, Siemens, BYD and Schneider Electric.

The index is co-launched by BITA and iClima Earth. BITA offers enterprise-grade infrastructure, indexes, and data solutions. iClima is a fintech company focused on decarbonization trends.

China Securities Index (CSI) is an index provider jointly funded by the Shanghai Stock Exchange and the Shenzhen Stock Exchange. It now manages over 6,000 indexes.

CSI China Mainland Enterprises Global Composite Index selects companies from mainland China listed in overseas exchange markets. CSI China Mainland Enterprises Global Industrials Composite Index reflects performance of local Chinese companies in industrial areas. CSI Overseas China Five-Year Plan Index and CSI Overseas China Urbanization Index include companies that benefit from China's Five-year Plan and urbanization trends.

Additionally, Wind China Capital 100 Index, administrated by the Chinese financial information service company WIND, selects top 100 Chinese companies listed in US in terms of turnover rate and market capitalization.

Previously, NaaS was also included in Solactive Electric Vehicle Charging Infrastructure Index and WilderHill Clean Energy Index, stating a global recognition of its fast-growing brand influence and industrial value.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop EV charging solutions to charging stations comprising online EV charging, offline EV charging and innovative and other solutions, supporting every stage of the station lifecycle. As of September 30, 2023, NaaS had connected 767,611 chargers covering 73,710 charging stations, representing 41.6% and 50.0% of China's public charging market share respectively.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com

View original content:https://www.prnewswire.com/news-releases/naas-technology-included-in-multiple-renowned-indexes-302023792.html

SOURCE NaaS Technology Inc.

FAQ

What indexes has NaaS Technology Inc. (NAAS) been listed in recently?

NaaS Technology Inc. (NAAS) has been listed in the BITA iClima Distributed Decentralized and Digital Renewable Energy Index, CSI China Mainland Enterprises Global Composite Index, CSI China Mainland Enterprises Global Industrials Composite Index, CSI Overseas China Five-Year Plan Index, CSI Overseas China Urbanization Index, and Wind China Capital 100 Index.

What is the BITA iClima Distributed Decentralized and Digital Renewable Energy Index?

The BITA iClima Distributed Decentralized and Digital Renewable Energy Index tracks global companies with exposure to innovative development surrounding renewable energy. It selects companies primarily based on sustainability and environment protection.

Who are the co-launchers of the BITA iClima Distributed Decentralized and Digital Renewable Energy Index?

The index is co-launched by BITA and iClima Earth. BITA offers enterprise-grade infrastructure, indexes, and data solutions, while iClima is a fintech company focused on decarbonization trends.

What is the CSI China Mainland Enterprises Global Composite Index?

The CSI China Mainland Enterprises Global Composite Index selects companies from mainland China listed in overseas exchange markets.

What is the Wind China Capital 100 Index?

The Wind China Capital 100 Index, administrated by the Chinese financial information service company WIND, selects top 100 Chinese companies listed in the US in terms of turnover rate and market capitalization.

What other indexes has NaaS Technology Inc. (NAAS) been included in previously?

Previously, NaaS was also included in Solactive Electric Vehicle Charging Infrastructure Index and WilderHill Clean Energy Index, reflecting its global recognition and fast-growing brand influence.