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NaaS Technology Inc. American Depositary Shares - NAAS STOCK NEWS

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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.

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NaaS Technology (NASDAQ: NAAS) partners with Geely Auto to enhance EV charging services, aiming to improve the charging experience for Geely EV owners. Geely Auto shows significant growth in EV sales, reflecting its commitment to new energy transformation.
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NaaS Technology (NAAS) signs a strategic cooperation agreement with Foshan Chancheng City Construction Group to invest RMB 1 billion in new energy infrastructure, aiming to enhance the EV charging network in China.
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NaaS Technology (NASDAQ: NAAS) received a 'B' rating for Climate Change in the latest CDP Score Report, surpassing the global average of 'C'. NaaS integrated ESG practices into its operations, reducing 1.463 million tons of carbon emissions in the first half of 2023. The company partnered with Kuaidian to incentivize carbon reduction among users, gaining over 594,000 EV users by 2023. NaaS scored 60 in the S&P Global Corporate Sustainability Assessment, outperforming 98% of peers. The company also received a '2' rating with a main score of '76' in ESG from Sustainable Fitch. NaaS' commitment to sustainability is further demonstrated by its participation in the Science Based Targets initiative and the United Nations Global Compact.
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NaaS (NASDAQ: NAAS) experienced a significant 70% increase in stock price in just two weeks, reaching $1.81 per share as of February 7. This bullish run in the NASDAQ market has garnered attention due to the substantial surge, indicating positive market sentiment towards the company.
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NaaS Technology Inc. (Nasdaq: NAAS) provided an update on its recent business developments, including achieving a positive net take rate and a 49% year-over-year growth in charging volume for its connectivity business. The company expects its revenue for the full year of 2023 to be in the range of RMB310 million (US$44 million) to RMB330 million (US$46 million), representing a year-over-year growth of 234% to 256%, respectively.
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NaaS Technology (NASDAQ: NAAS) achieved an outstanding score of 60 points in the S&P Global Corporate Sustainability Assessment (CSA), surpassing 98% of its global peers in the retail industry. The assessment reflects the industry's high recognition of NaaS' ESG management level. The company has integrated ESG governance into its corporate development philosophy and aims to improve the stability and efficiency of the global transport energy network. NaaS provides services throughout the entire new energy industry chain and reduced 1.463 million tons of carbon emissions in the first half of 2023. The company has been recognized by international organizations and has won several awards for its exceptional performance in ESG practices.
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NaaS Technology Inc. (NAAS) has been included in the investment portfolio of PMC Diversified Equity Fund (PMDEX) in Q4 2023, attracting attention from Envestnet's Quantitative Research Group and other prominent global asset management firms. The company's position in the fast-growing Chinese new energy vehicle market has led to increased interest from institutional investors, climate change-focused ETF funds, and international index companies, signaling its growing global recognition and influence.
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NaaS Technology Inc. (NAAS) has been included in the Carbon Collective Climate Change Solutions ETF, marking the first time for NaaS to be held by an actively managed ETF. The ETF has net assets of approximately $22 million and 1.2 million shares outstanding, with 218 underlying stocks in its portfolio. NaaS is also held by other well-recognized funds focusing on environmental issues, and has been listed in renowned indexes from leading indexing companies, signaling global recognition.
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NaaS Technology Inc. (NAAS) has achieved CE certification for its full product portfolio of 14 charging pile models, marking a significant milestone for the U.S.-listed EV charging service company. The certified products, designed for Europe, the Middle East, and Asia-Pacific regions, include DC charging piles with power ranging from 50kW to 240kW and AC charging piles with power options of 7kW, 11kW, and 22kW. The company's innovative technology, reliability, safety, energy efficiency, and intelligence have been recognized through this certification, allowing it to enter the European market and expand globally.
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NaaS Technology (NASDAQ: NAAS) showcased its latest advancements in EV charging services at the 2024 Consumer Electronics Show (CES) in Las Vegas, including the debut of an automatic energy supply charging robot, a 480KW split type charging stack, and a 720KW liquid-cooled ultra-fast charging pile. The company also introduced a 7KW/22KW AC wallbox emphasizing safety, resilience, and fast installation. NaaS provides a one-stop industry chain service package and has connected 73,000 charging stations and 768,000 chargers in China.
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FAQ

What is the current stock price of NaaS Technology American Depositary Shares (NAAS)?

The current stock price of NaaS Technology American Depositary Shares (NAAS) is $2.881 as of November 4, 2024.

What is the market cap of NaaS Technology American Depositary Shares (NAAS)?

The market cap of NaaS Technology American Depositary Shares (NAAS) is approximately 39.0M.

What does NaaS Technology Inc. do?

NaaS Technology Inc. is an electric vehicle charging service provider in China, offering integrated online and offline solutions to charging station operators.

What is NaaS Technology Inc.'s stock symbol?

NaaS Technology Inc. is listed on NASDAQ under the symbol NAAS.

What are NaaS's recent financial highlights?

In 2023, NaaS reported a revenue of RMB320.1 million (US$45.1 million), a 245% YoY growth, and an 81% YoY increase in charging volume.

Who are NaaS Technology Inc.'s key partners?

NaaS partners with major national operators and automobile manufacturers, including Deepal Automobile, GAC Energy Technology Co., Ltd., and Great Wall Motors.

What is the NEF system?

The NEF (NaaS Energy Fintech) system is designed to optimize the operation, trading, and coordination of transport energy, leveraging AI and digital technologies.

How many EV chargers are connected to NaaS's network?

As of December 31, 2023, NaaS connected 875,655 EV chargers across 77,017 charging stations.

What makes NaaS unique in the energy sector?

NaaS offers comprehensive solutions from siting consultation to operation and maintenance, and leverages digital technologies to enhance energy asset efficiency.

What recent partnerships has NaaS formed?

NaaS recently partnered with Beijing Car Network New Energy Co., Ltd. to improve public EV charging infrastructure in Beijing.

How does NaaS support charging station operators?

NaaS provides a range of services including siting consultation, EPC, software and hardware procurement, operation and maintenance, and energy storage solutions.

What role does NaaS play in the global energy transition?

NaaS is a significant player in the new energy sector, advancing sustainable energy solutions through innovation, digital technologies, and strategic partnerships.

NaaS Technology Inc. American Depositary Shares

Nasdaq:NAAS

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38.99M
971.30M
17.85%
1.88%
Specialty Retail
Consumer Cyclical
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United States of America
Beijing