NaaS Technology ADR - NAAS STOCK NEWS

NaaS Technology Inc. (NASDAQ: NAAS) reported strong growth in its unaudited financial results for Q4 and the full year ending December 31, 2022. The company achieved a 91% increase in charging volume in Q4, reaching 856.8 GWh, and a 116% annual growth to 2,753.7 GWh. Gross transaction value grew by 94% to RMB840.2 million in Q4, and by 119% to RMB2,701.2 million for the year. Despite these increases, NaaS incurred a net loss of RMB126.9 million in Q4 and RMB5.6 billion for 2022, reflecting a significant rise in operational costs attributed to business expansion, including RMB1.9 billion in listing costs. For 2023, the company anticipates revenues between RMB500 million and RMB600 million, representing growth of up to 644% compared to 2022.

NaaS Technology reported significant adjustments to its unaudited financial results for the quarter and six months ending June 30, 2022. The net revenues surged by 591% year-over-year, reaching RMB36.5 million (US$5.5 million), primarily driven by increased platform order volumes. However, total operating costs soared to RMB2,280.8 million (US$340.5 million), resulting in a net loss of RMB5,401.5 million (US$806.4 million). The adjustments included updates to share-based compensation, fair value changes, and reclassifications within financial statements. Notably, online EV charging solutions contributed RMB19.7 million (US$2.9 million) in revenue, reflecting a 451% growth, while offline EV charging revenues saw a 997% increase. The substantial losses were attributed mainly to equity-settled listing costs and share-based compensation expenses.

NaaS Technology Inc. (NASDAQ: NAAS) is set to report its unaudited financial results for the fourth quarter and full year ended December 31, 2022, following the U.S. market close on April 21, 2023. The Company, a leading electric vehicle charging service provider in China, will host an earnings conference call at 9:00 PM U.S. Eastern Time on the same day. Participants can register online to receive dial-in information and access a live and archived webcast on the investor relations website. As of December 31, 2022, NaaS had over 515,000 connected chargers, with a charging volume of 2,753 GWh and a gross transaction value of RMB 2,701 million for 2022. NaaS began trading on Nasdaq on June 13, 2022, under the ticker NAAS.

During the 2023 MPLS SD & AI Net World Congress in Paris, Huawei successfully held a technology summit focused on 'Continuous Innovation in IP Domain, Boost New Growth'. This event discussed strategies for carriers to enhance their IP networks through digital managed network solutions, aiming to transition from ISPs to MSPs and stimulate B2B service growth. Key insights included the necessity for intelligent connections and bandwidth enhancement in IP networks, as highlighted by analyst Sameer Malik. Huawei's vision for future network architecture emphasizes ultra-broadband, high automation, and green design. The summit also showcased advancements in the SRv6 protocol, with more than 160 global deployments. Huawei expressed readiness to collaborate with carriers to evolve converged IP networks, exploring new business models and digital transformation opportunities.

NaaS Technology Inc. (Nasdaq: NAAS) held its 2023 annual general meeting in Beijing on April 19, 2023, where shareholders approved three key resolutions. The approved measures included an ordinary resolution to increase the Company's authorized share capital, a special resolution to amend the memorandum and articles of association to reflect this capital increase, and another ordinary resolution granting directors and officers the authority to implement these changes. This decision aligns with NaaS's strategy as a leading electric vehicle charging service provider in China, where it has connected over 515,000 chargers and achieved a gross transaction value of RMB2,701 million in 2022.

The global SASE Market is projected to grow from USD 1.9 billion in 2023 to USD 5.9 billion by 2028, representing a 25.0% CAGR. Key drivers include the growing preference for remote work, increased public cloud traffic, and the importance of network security. Among market segments, Network as a Service (NaaS) is expected to dominate, bolstered by the rise in cloud computing and SDN technologies. Additionally, large enterprises are adopting cloud-first strategies to enhance security for cloud applications. The Asia Pacific region is forecasted to experience the highest growth due to proactive government initiatives in data security amidst rising cyber threats.

Productronica China 2023 took place from April 13 to 15, showcasing the booming EV industry. NaaS (NASDAQ: NAAS), a leading new energy service provider in China, displayed innovative products, including a compact charging robot designed for unmanned driving scenarios, utilizing deep learning and V2X technologies. NaaS has partnered with 80% of vehicle OEMs in China to offer smart charging solutions. The company showcased a wide range of charging equipment, including a 480kW DC charging stack to address 'charging anxiety' and various AC charging piles certified by TUV Rheinland. By the end of 2022, NaaS connected 515,000 chargers, handling 2,753 GWh of charging, which accounted for 20% of China's public charging volume. The exhibition featured nearly 800 innovative companies, emphasizing key trends in green electrification in the EV sector.

PacketFabric and Unitas Global have merged, forming a leader in software-defined networking. This merger positions PacketFabric as a premier Network as a Service (NaaS) provider, enhancing capabilities for public and private transport services. Key offerings include PacketFabric Converge™, which enables on-demand connectivity, and Nexus™ automation, providing agile internet services. The merger aims to create a fully programmable internet for enterprises. Digital Alpha Advisors played a pivotal role in this merger, driven by market feedback to establish a strategic platform.

NaaS Technology Inc. (NAAS), a leading electric vehicle charging service provider in China, has launched its first self-developed automatic charging robot. This robot features active vehicle locating, smart charging, and automated payment settlement, addressing the growing demand for mobile charging solutions. With advanced technologies such as 5G and deep learning, the robot facilitates unmanned charging, allowing EVs to connect autonomously. As of December 31, 2022, NaaS had over 515,000 connected chargers and achieved a 126% increase in gross transaction value year-over-year, highlighting its rapid growth and robust market position in the EV sector.