NaaS Technology ADR Stock Price, News & Analysis

The global SASE Market is projected to grow from USD 1.9 billion in 2023 to USD 5.9 billion by 2028, representing a 25.0% CAGR. Key drivers include the growing preference for remote work, increased public cloud traffic, and the importance of network security. Among market segments, Network as a Service (NaaS) is expected to dominate, bolstered by the rise in cloud computing and SDN technologies. Additionally, large enterprises are adopting cloud-first strategies to enhance security for cloud applications. The Asia Pacific region is forecasted to experience the highest growth due to proactive government initiatives in data security amidst rising cyber threats.

Productronica China 2023 took place from April 13 to 15, showcasing the booming EV industry. NaaS (NASDAQ: NAAS), a leading new energy service provider in China, displayed innovative products, including a compact charging robot designed for unmanned driving scenarios, utilizing deep learning and V2X technologies. NaaS has partnered with 80% of vehicle OEMs in China to offer smart charging solutions. The company showcased a wide range of charging equipment, including a 480kW DC charging stack to address 'charging anxiety' and various AC charging piles certified by TUV Rheinland. By the end of 2022, NaaS connected 515,000 chargers, handling 2,753 GWh of charging, which accounted for 20% of China's public charging volume. The exhibition featured nearly 800 innovative companies, emphasizing key trends in green electrification in the EV sector.

PacketFabric and Unitas Global have merged, forming a leader in software-defined networking. This merger positions PacketFabric as a premier Network as a Service (NaaS) provider, enhancing capabilities for public and private transport services. Key offerings include PacketFabric Converge™, which enables on-demand connectivity, and Nexus™ automation, providing agile internet services. The merger aims to create a fully programmable internet for enterprises. Digital Alpha Advisors played a pivotal role in this merger, driven by market feedback to establish a strategic platform.

NaaS Technology Inc. (NAAS), a leading electric vehicle charging service provider in China, has launched its first self-developed automatic charging robot. This robot features active vehicle locating, smart charging, and automated payment settlement, addressing the growing demand for mobile charging solutions. With advanced technologies such as 5G and deep learning, the robot facilitates unmanned charging, allowing EVs to connect autonomously. As of December 31, 2022, NaaS had over 515,000 connected chargers and achieved a 126% increase in gross transaction value year-over-year, highlighting its rapid growth and robust market position in the EV sector.

Nile, a leader in enterprise network as a service (NaaS), announced enhanced security features aimed at combating increasing cyber threats. Their zero trust approach simplifies network security management while ensuring every user and device is authenticated before gaining access. Key benefits include strict identity-based authentication, malware isolation, and encrypted communication across the network. Nile's solution is designed to mitigate operational risks and improve IT security, promising reduced and predictable costs. As cyberattacks rise, Nile aims to provide organizations with secure connectivity without the high costs of traditional networks.

Africa Mobile Networks announces the successful financial close of a US$20 million senior secured loan facility, aiding the rollout of mobile communications towers in rural Africa. The facility, funded by BlueOrchard Sustainable Assets Fund and the OP Finnfund Global Impact Fund I, aims to make AMN a leading rural telecom provider across 20 Sub-Saharan countries, reaching a population of over 35 million.

This financing follows a US$36 million equity investment in 2021, supporting AMN's objective to address mobile coverage gaps for the 1.1 billion people in Sub-Saharan Africa, where over 300 million people lack usable mobile network service.

NaaS Technology Inc. (Nasdaq: NAAS), a leading electric vehicle (EV) charging service provider in China, announced that President and CFO Alex Wu will present at the 'Electric Vehicle & Auto Tech Virtual Conference' hosted by the Maxim Group on March 30, 2023, at 9:30 AM Eastern Time. This event will be live on M-Vest, and attendees can register to join. As of December 31, 2022, NaaS had over 515,000 connected chargers, with a 123% increase in charging volume to 2,753 GWh in 2022, translating to a gross transaction value of RMB2,701 million. NaaS started trading on Nasdaq under the symbol NAAS on June 13, 2022.

NaaS Technology Inc. (Nasdaq: NAAS), one of China's leading electric vehicle charging service providers, announced its adjusted financial results for Q2 and H1 2022. Net revenues experienced substantial growth, soaring 558% year-over-year to RMB21.8 million (US$3.3 million) in Q2 and 592% to RMB36.5 million (US$5.5 million) for H1. However, total operating costs increased significantly due to equity-settled listing costs and share-based compensation, leading to a net loss of RMB575.4 million (US$85.9 million) in Q2 and RMB671.3 million (US$100.2 million) in H1. The company also restated financial statements for Dada Auto Inc. as part of its merger transactions.

NaaS Technology Inc. (NASDAQ: NAAS), a leading electric vehicle (EV) charging service provider in China, has announced its annual general meeting (AGM) scheduled for April 19, 2023, at 10:00 AM Beijing time. The meeting will be held at Newlink Center, Beijing, to consider proposed resolutions detailed in the AGM Notice, available on the company's investor relations website. Shareholders holding ordinary shares by the close of business on March 23, 2023, can attend and vote. The Board of Directors supports the resolutions and encourages shareholders to vote in favor. NaaS has connected over 434,000 chargers with a charging volume of 1,892 GWh as of September 30, 2022.