NaaS Technology Inc. Announces Results of 2025 Annual General Meeting

Rhea-AI Summary

NaaS Technology (Nasdaq: NAAS) held its 2025 annual general meeting on October 10, 2025 in Langfang, Hebei Province where shareholders approved five resolutions.

Approved actions include an ordinary resolution to increase authorized share capital; special resolutions to amend the memorandum and articles, to reduce the par value per share from US$0.01 to US$0.000001 (applying to all issued shares), and to restate the constitutional documents to a fourth amended form; and an ordinary resolution authorizing directors, officers and agents to implement the changes. The amendment sets the authorized share capital at US$52,000, subject to confirmation by the Grand Court of the Cayman Islands. The Meeting Notice was furnished to the SEC via Form 6-K on September 9, 2025.

Positive

• Shareholders approved five resolutions on Oct 10, 2025
• Authorized directors and officers to implement capital changes
• Par value formally reduced to US$0.000001 per share
• Authorized share capital set at US$52,000 (subject to court)

Negative

• Amendments are subject to Grand Court of the Cayman Islands confirmation
• Par value change applies to all issued shares, altering share nominal base

Insights

Corporate Governance Analyst

Share-capital reorganization approved to increase authorized shares and reduce par value; court confirmation pending.

NaaS Technology Inc. shareholders approved five resolutions on October 10, 2025 to increase authorized share capital, amend the memorandum and articles, reduce par value per share from US$0.01 to US$0.000001, and set the post-amendment authorized capital at US$52,000, subject to Grand Court of the Cayman Islands confirmation.

The corporate mechanism is routine: lowering par value and increasing authorized capital creates legal capacity for issuing more shares or restructuring equity without immediate issuance. Risks hinge on future actions that the board may take under the newly expanded authorization; the resolution itself does not change issued share count or imply issuance timing.

Watch for the Grand Court confirmation and any subsequent board authorizations to issue shares or ADR adjustments; these are the concrete, actionable milestones in the near term. Expect confirmation and any issuance-related filings as the next items to monitor.

BEIJING, Oct. 10, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, is pleased to announce that at its 2025 annual general meeting of shareholders held in Langfang, Hebei Province today, shareholders of the Company approved each of the five proposed resolutions set out in the notice of annual general meeting (the "Meeting Notice"), namely, (i) an ordinary resolution to increase the Company's authorized share capital, (ii) a special resolution to amend the Company's Second Amended and Restated Memorandum and Articles of Association to the Third Amended and Restated Memorandum and Articles of Association to reflect such increase in the share capital, (iii) a special resolution to amend the par value of each authorized share in the capital of the Company (including all issued shares) from US$0.01 to US$0.000001, such that following the amendment, the authorized share capital of the Company shall be US$52,000, subject to confirmation by the Grand Court of the Cayman Islands, (iv) a special resolution to amend and restate the Company's Third Amended and Restated Memorandum and Articles of Association to the Fourth Amended and Restated Memorandum and Articles of Association, conditional upon and with immediate effect upon confirmation of the Grand Court of the Cayman Islands, and (v) an ordinary resolution to authorize the Company's directors, officers and agents to carry out the foregoing. The Meeting Notice had been furnished on September 9, 2025 to the Securities and Exchange Commission under cover of a Form 6-K and timely disseminated to shareholders and holders of the Company's American depositary shares prior to the meeting.

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 is one of the leading providers of new energy asset operation services. The Company utilizes advanced technology to intelligently match charging supply with demand, offering electric vehicle users a seamless, efficient, and smart charging experience. Furthermore, NaaS empowers charging stations and charging station operators to optimize their operations, driving greater efficiency and enhancing profitability.

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-inc-announces-results-of-2025-annual-general-meeting-302580862.html

SOURCE NaaS Technology Inc.

FAQ

What did NaaS (NAAS) shareholders approve at the October 10, 2025 AGM?

Shareholders approved five resolutions including an increase in authorized share capital and amendments to the memorandum and articles.

How will NaaS's share par value change after the AGM?

The par value will change from US$0.01 to US$0.000001 per authorized share, applying to all issued shares.

What is the new authorized share capital amount for NaaS (NAAS)?

The authorized share capital is set at US$52,000, subject to confirmation by the Grand Court of the Cayman Islands.

When was the Meeting Notice for NaaS's AGM filed with the SEC?

The Meeting Notice was furnished to the SEC on September 9, 2025 via Form 6-K.

Who is authorized to carry out NaaS's approved capital amendments?

The shareholders authorized the company's directors, officers and agents to carry out the approved amendments.

Is the NaaS capital amendment effective immediately after shareholder approval?

The amendments are conditional: they were approved by shareholders but are subject to Grand Court confirmation to take full legal effect.