NaaS Technology Inc. Regains Compliance with Nasdaq Minimum Market Value of Listed Securities Requirement

Rhea-AI Summary

NaaS Technology (Nasdaq: NAAS) announced it has regained compliance with Nasdaq's minimum market value of listed securities requirement under Rule 5550(b)(2).

Nasdaq notified the company on Dec 9, 2025 that the Staff determined NaaS's MVLS has been $35 million or greater for the last twenty consecutive business days as of Dec 8, 2025, closing the prior deficiency. NaaS had previously been notified of noncompliance on June 13, 2025 after failing to maintain a MVLS of at least $35 million for 30 consecutive trading days.

Positive

• Regained Nasdaq MVLS compliance via Staff notice on Dec 9, 2025
• MVLS ≥ $35 million for 20 consecutive business days as of Dec 8, 2025
• Nasdaq compliance matter marked closed

Negative

• Previously found noncompliant on June 13, 2025 for failing a 30-trading-day MVLS test

Key Figures

Nasdaq MVLS threshold $35 million Minimum market value of listed securities under Nasdaq Rule 5550(b)(2)

Non-compliance period 30 consecutive trading days Period MVLS was below $35 million before June 13, 2025 notice

Compliance window 20 consecutive business days MVLS at or above $35 million as of December 8, 2025

Share price $3.50 Pre-news price for NAAS on latest close

Market capitalization $37,126,602 Market cap for NAAS before compliance announcement

New shares issued 27,776,000,000 shares Class A ordinary shares issued at $0.001 per share (Nov 5, 2025 6-K)

Capital raised $31.2 million Proceeds from share subscriptions by affiliates and investors

Total shares outstanding 33,767,457,395 shares Post-transaction share count reported in Nov 5, 2025 6-K

Market Reality Check

$3.50 Last Close

Volume Volume 17,610 vs 20-day average 32,761 (relative volume 0.54x), indicating muted trading before this notice. low

Technical Price at $3.50, trading below 200-day MA of $5.64, reflecting a longer-term downtrend into this compliance update.

Peers on Argus

Peers showed mixed moves: NVVE up 3.9%, BQ down 2.78%, FTEL down 3.84%, while PTLE and TKLF were flat. No clear sector-wide pattern around this compliance news for NAAS.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Oct 10	AGM results	Neutral	+6.2%	Shareholders approved capital structure and constitutional amendments at 2025 AGM.
Sep 09	AGM announcement	Neutral	+6.3%	Company announced schedule and logistics for upcoming 2025 annual general meeting.
Aug 27	ESG report	Positive	+8.1%	Release of 2024 ESG report highlighting carbon reduction and innovation metrics.
Jul 14	ADS ratio change	Negative	-16.2%	Announcement of 1-for-4 reverse ADS split via ADS ratio modification.
Jun 20	Nasdaq deficiency	Negative	-25.6%	Nasdaq notified company of failing minimum $35M market value and other requirements.

Pattern Detected

Over the last six months, NAAS news events have generally aligned with price direction, with negative listing and capital structure news coinciding with declines and ESG or corporate updates coinciding with gains.

Recent Company History

In the past six months, NAAS has reported several governance and listing-related developments. A June 20, 2025 notice about Nasdaq market value non-compliance saw a -25.61% move. Subsequent actions included a 1-for-4 reverse ADS split plan on July 14, 2025 and ESG achievements on August 27, 2025 with an 8.14% rise. The 2025 AGM and charter changes around October 10, 2025 were followed by mid-single-digit gains. Today’s regained-compliance update closes the loop on the earlier deficiency notice.

Market Pulse Summary

This announcement confirms that NaaS regained compliance with Nasdaq’s minimum market value of listed securities requirement, maintaining at least $35 million in market value for 20 consecutive business days. It formally closes the June 2025 deficiency notice and reduces immediate delisting risk tied to this specific rule. Investors may track future Nasdaq correspondence, additional listing criteria, and any further capital structure or share issuance disclosures as key indicators of ongoing listing stability.

Key Terms

market value of listed securities regulatory

"it was not in compliance with the Rule because it failed to maintain a MVLS"

The market value of listed securities is the total worth of stocks, bonds and other tradable instruments quoted on an exchange, measured using the prices investors are willing to pay right now. It’s calculated by multiplying each security’s current market price by the number of units outstanding and adding those amounts together, like totaling the value of every item in a store at today’s prices. Investors watch this because it shows the size, liquidity and overall health of the market or a company’s publicly traded portion, and it influences index weights, fund allocations and perceived risk.

Nasdaq Capital Market regulatory

"for continued listing on the Nasdaq Capital Market."

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

AI-generated analysis. Not financial advice.

BEIJING, Dec. 10, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced that on December 9, 2025, it received written notice from the Listing Qualifications Department (the "Staff") of Nasdaq Stock Market LLC ("Nasdaq"), stating that the Company regained compliance with the minimum market value of listed securities ("MVLS") requirement, as set forth in Nasdaq Listing Rule 5550(b)(2) (the "Rule") for continued listing on the Nasdaq Capital Market.

As previously reported on June 20, 2025, the Company was notified by the Staff on June 13, 2025 that it was not in compliance with the Rule because it failed to maintain a MVLS of at least $35 million for a period of 30 consecutive trading days. The Staff has determined that, as of December 8, the Company's MVLS has been $35 million or greater for the last twenty consecutive business days. Accordingly, the Staff has confirmed that the Company has regained compliance with the Rule, and this matter is now closed.

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.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS' goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China's EV charging industry and EV charging service industry and NaaS' future business development; demand for and market acceptance of NaaS' products and services; NaaS' ability to protect and enforce its intellectual property rights; NaaS' ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS' operation, fluctuations of the RMB exchange rate, and NaaS' ability to obtain adequate financing for its planned capital expenditure requirements; NaaS' relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS' filings with the SEC.

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-regains-compliance-with-nasdaq-minimum-market-value-of-listed-securities-requirement-302637833.html

SOURCE NaaS Technology Inc.

FAQ

What did NaaS (NAAS) announce on December 9, 2025 about Nasdaq compliance?

NaaS announced it received Nasdaq Staff notice that it regained compliance with Rule 5550(b)(2) on Dec 9, 2025.

What MVLS level did NaaS (NAAS) meet to regain Nasdaq compliance?

The company reached a market value of listed securities of at least $35 million.

As of what date did NaaS (NAAS) meet the 20-business-day MVLS requirement?

Nasdaq determined the MVLS requirement was met for the last 20 consecutive business days as of Dec 8, 2025.

When was NaaS (NAAS) previously notified of noncompliance with Nasdaq MVLS rules?

The company was notified on June 13, 2025 that it was not in compliance after failing the 30-trading-day MVLS test.

Does Nasdaq consider NaaS (NAAS) delisted after this notice?

No; Nasdaq Staff confirmed the company has regained compliance and the matter is closed.