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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. (NASDAQ: NAAS), a major electric vehicle charging service provider in China, will report its unaudited financial results for Q2 2022 on August 22, 2022, before U.S. markets open. A conference call will be held on the same day at 7:00 AM ET. NaaS, a subsidiary of Newlinks Technology Limited, has connected 290,000 charging piles, contributing to 18% of China's public charging market and reducing carbon emissions by 900,000 tons annually. The company began trading on NASDAQ on June 13, 2022.
NaaS Technology Inc. (NASDAQ: NAAS) has partnered with Li Auto to introduce a smart charging navigation system for electric vehicle (EV) owners in China, enhancing the charging experience. Scheduled for launch in Q3 2022, this system will allow drivers to easily locate charging stations via in-vehicle maps or the Li Auto app. NaaS boasts a network of 290,000 charging piles and accounted for 18% of China's public charging market in 2021, with 55 million charges delivered. This collaboration aims to optimize energy delivery and support the growing EV sector.
NaaS Technology Inc. (NASDAQ: NAAS) has signed a partnership with Ohways, a subsidiary of NavInfo, to enhance EV charging services in China. This collaboration aims to integrate smart mobility and digital power solutions for auto OEMs and EV users. It will facilitate easier access to charging stations through in-vehicle dashboards and mobile apps. The service is expected to launch within three months across major car brands such as Ford and Mercedes-Benz. NaaS currently operates 290,000 charging piles, accounting for 18% of China's public charging market.
NaaS Technology Inc. (NASDAQ: NAAS) has entered a strategic cooperation agreement with Beijing Jingcheng International Financial Leasing to develop technology and financing services for electric vehicle (EV) charging infrastructure. This collaboration aims to streamline financing for charging station operators in China, enabling the construction of charging stations through leasing options. By integrating their resources, both companies will enhance profitability and support the growth of the EV sector, which is projected to require 63 million charging piles valued at approximately 1.02 trillion yuan over the next decade.
NaaS Technology Inc. (NASDAQ: NAAS) has partnered with Zhejiang Green Intelligent Link to enhance charging solutions for commercial electric vehicles (EVs) in China. This collaboration aims to provide one-stop charging services, including the integration of charging piles and management solutions for delivery fleets. With 88,000 commercial EVs sold in the first five months of 2022, representing a 71.4% year-on-year increase, the need for efficient charging infrastructure is rising. The partnership intends to address challenges like slow charging and expand services for commercial EV operators, contributing to carbon neutrality efforts in transportation.
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.
NaaS Technology Inc. (NASDAQ: NAAS) celebrated its public listing on the NASDAQ with a bell-ringing ceremony on June 28, 2022. As China's first publicly listed EV charging service provider, the company aims to enhance energy efficiency and significantly reduce carbon emissions. NaaS operates one of the largest charging solutions networks, supporting around 290,000 charging piles, with 70% being fast chargers. In 2021, NaaS accounted for 18% of China's total public charging volume, marking its pivotal role in the renewable energy sector and the growth of electric vehicle services.
The Home Depot, the largest home improvement retailer, has partnered with Hewlett Packard Enterprise (HPE) to enhance its networking capabilities using Aruba ESP and HPE GreenLake for Aruba. This initiative aims to deliver superior customer experiences by streamlining operations and improving connectivity in its U.S. stores. The new network will support advanced functionalities, boost speed and flexibility, and offer network-as-a-service (NaaS) benefits. With over 2,300 stores and 500,000 associates, this investment reflects The Home Depot's commitment to technology as a core driver of retail innovation.
NaaS Technology Inc. (NASDAQ: NAAS) has partnered with State Grid Changzhi Electric Power Supply Company to enhance EV charging services in Changzhi, Shanxi. The collaboration aims to build new electric vehicle charging stations, with State Grid providing construction sites and power supply, while NaaS will handle the construction and operation. The city plans to establish 119 charging stations and 2,058 charging piles by 2025, aligning with China's dual-carbon goals. NaaS, a leader in renewable energy solutions, is set to foster a green infrastructure and expand its charging services ecosystem.
NaaS Technology Inc. announced its successful listing on NASDAQ, marking it as China's first pure play electric vehicle charging service company. The firm is among the fastest-growing new energy service providers in China, managing over 290,000 charging piles and accounting for 18% of the country's public charging volume. In January 2022, NaaS raised USD 87 million in a Pre-IPO round. The company aims to promote carbon neutrality, having reportedly reduced carbon emissions by 900,000 tons annually, reinforcing its commitment to sustainable energy solutions.
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