NaaS Technology ADR Stock Price, News & Analysis

NaaS Technology, the first U.S.-listed EV charging service company in China, has implemented a significant change to its American Depositary Shares (ADS) ratio effective April 28, 2025.

Key changes include:

• The ADS ratio has been modified from 1:200 (1 ADS to 200 Class A ordinary shares) to 1:800 (1 ADS to 800 Class A ordinary shares)
• This change functions similarly to a one-for-four reverse ADS split
• The exchange process is automatic: 1 new ADS for every 4 previously-held ADSs
• JPMorgan Chase Bank acts as the depositary bank managing the exchange

While the ADS trading price is expected to increase proportionally following this change, NaaS has noted that there is no guarantee the new trading price will be exactly or greater than 4 times the previous price.

NaaS Technology Inc. (NAAS), the first U.S.-listed EV charging service company in China, has announced a significant change to its American Depositary Shares (ADS) ratio. The company will modify its ADS ratio from 1:200 to 1:800 Class A ordinary shares, effective April 28, 2025.

This adjustment will function as a one-for-four reverse ADS split, requiring ADS holders to exchange every 4 existing ADSs for one new ADS. JPMorgan Chase Bank will manage the exchange process, with fractional shares being aggregated and sold, with proceeds distributed to affected holders.

The company will continue trading on Nasdaq under the symbol 'NAAS'. While the ADS trading price is expected to increase proportionally, NaaS notes there's no guarantee the post-change price will be exactly four times the pre-change value. The change won't affect the underlying Class A ordinary shares structure.

NaaS Technology (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in the Huayuan Securities Spring Strategy Conference in Wuhan, China. The company's session is scheduled for March 20, 2025, at 3:30 p.m. Beijing Time.

Investors and stakeholders interested in connecting with NaaS management can arrange one-on-one meetings through their event representative or by contacting the company's investor relations team at ir@enaas.com.

NaaS Technology Inc. (Nasdaq: NAAS) has announced a strategic partnership with Xiaomi Auto, integrating NaaS's extensive charging network with Xiaomi's electric vehicle ecosystem. Through this collaboration, Xiaomi EV owners will gain access to NaaS's nationwide charging network via the Xiaomi Auto App and in-vehicle navigation system.

The partnership comes amid China's booming NEV market, which saw production and sales exceeding 12 million units in 2024, with a total of 31.4 million NEVs on the road. Xiaomi Auto has delivered over 135,000 vehicles since its 2024 launch. NaaS has connected nearly 100,000 charging stations and 1.15 million chargers across China, serving over 13 million transaction users as of Q3 2024.

The collaboration leverages NaaS's AI-driven solutions and Energy Fintech (NEF) system for intelligent charging operations, including site selection, investment analysis, and dynamic pricing. NaaS has existing partnerships with major automakers like BYD, NIO, Li Auto, and XPeng.

NaaS Technology Inc. (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in three major investor conferences in February 2025. The company will attend the Western Securities Listed Companies Spring Investor Conference in Shenzhen on February 25, followed by two conferences in Shanghai on February 27: the Sealand Securities 2025 Spring Strategy Conference and the GF Securities Listed Companies Spring Investor Conference.

Investors interested in meeting with NaaS management can arrange one-on-one meetings through their event representatives or by contacting the NaaS investor relations team directly at ir@enaas.com.

NaaS Technology Inc. (NAAS), the first U.S.-listed EV charging service company in China, has announced a $10 million share repurchase program approved by its Board of Directors. The program will run from February 21, 2025 through February 2026.

The company may execute the repurchases through various means, including open market transactions at prevailing market prices, privately negotiated transactions, and block trades. The Board will conduct periodic reviews of the program and may adjust its terms and size accordingly.

NaaS Technology Inc. (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in two major investor conferences in February 2025. The company will attend the Zheshang Securities 2025 Q1 Institutional Investment Conference on February 13, 2025, and the Founder Securities 2025 Listed Companies Investor Forum themed 'Walking with the Spring Breeze, Embarking on a New Journey' on February 20, 2025. Both events will take place in Shenzhen, China.

Investors interested in meeting with NaaS management during these conferences can arrange one-on-one meetings through their event representatives or by contacting the NaaS investor relations team at ir@enaas.com.

NaaS Technology Inc. (NAAS) reported significant growth in its charging service business for 2024, adding approximately 6.4 million new registered users. Through its Kuaidian platform, total registered users reached nearly 19 million, representing over 60% of China's NEV owners, based on the country's total 31.4 million NEVs reported by year-end 2024.

The company has connected nearly 1.15 million chargers as of September 30, 2024, accounting for 35% of China's public charging infrastructure. With China's NEV sales penetration rate reaching 52% in November 2024, NaaS is expanding its interconnectivity business through partnerships with auto OEMs, third-party platforms, and charge point operators to meet growing demand for charging solutions.

NaaS Technology Inc. (NAAS) has completed China's first carbon emission reduction credit transaction in the EV charging sector, selling 1,962 tons of carbon emission reductions in partnership with Hubei Zhongtan Asset Management. The credits were generated between September 24 and October 29, 2024, through the Kuaidian platform.

The company launched an industry-first EV charging carbon account system that allows users to track and redeem carbon points earned from charging activities. Through the Kuaidian app and related platforms, users can authorize their accounts to participate in green mobility initiatives and earn rewards like charging fee discounts. As of June 30, 2024, over 800,000 users have opted for carbon accounts on the platform.