NaaS Technology ADR Stock Price, News & Analysis

NaaS Technology Inc. (NASDAQ: NAAS), a leading EV charging service provider in China, announced a new share incentive plan effective September 29, 2022. The plan allows for the issuance of up to 249,770,760 Class A ordinary shares and will increase by 1% annually based on the previous fiscal year's total shares outstanding. This plan replaces the Original Plan from Dada Auto Inc. established during the merger with RISE Education Cayman Ltd. Outstanding awards from the Original Plan remain valid under the new terms.

5G Open Innovation Lab has announced new corporate partnerships with SK Telecom, GAF, and Deloitte, welcoming 16 startups into its Fall program. This collaborative ecosystem focuses on driving innovation in 5G and edge technologies, connecting startups with global enterprises. Since its inception, participating startups have raised a collective $1.154B. Over the next 5 years, connectivity networks are projected to see spending of approximately $1.3 trillion globally, creating substantial business opportunities.

NaaS Technology Inc. (NASDAQ: NAAS) has partnered with Newrizon to enhance the charging services for new energy commercial vehicles in China. This strategic collaboration aims to establish a more efficient charging network and support green logistics, aligning with China's dual carbon objectives. Newrizon will leverage NaaS' digital charging network, allowing users to easily locate charging stations and enjoy added amenities. As of June 30, 2022, NaaS services spanned 358 cities, connecting 44,000 stations and 400,000 connectors. The partnership seeks to foster innovation and smart technologies in the commercial vehicle sector.

NaaS Technology Inc. (NASDAQ: NAAS), China’s leading EV charging service provider, announced a partnership with EEZI to enhance intelligent travel and smart charging solutions. This collaboration integrates NaaS’ extensive charging network with EEZI's advanced travel ecosystem, leveraging big data and intelligent algorithms to improve user experience. As of June 30, 2022, NaaS operates across 358 cities, connecting over 400,000 chargers and serving notable brands like NIO and FAW-Volkswagen. This partnership aims to innovate the charging experience and support the emerging software-defined vehicles trend in the new energy vehicle sector.

NaaS Technology Inc. has partnered with ONTIME, a ride-hailing service, to enhance the charging experience for new energy vehicle drivers. This collaboration aims to facilitate the location of charging stations and improve charging efficiency through the ONTIME Driver app. Expected to launch in October, the service will provide drivers with discounted charging rates and seamless payment options. NaaS, one of the largest EV charging providers in China, operates in 358 cities and connects over 400,000 chargers. This partnership aims to support sustainable travel solutions in the Guangdong-Hong Kong-Macao Greater Bay Area.

Juniper Networks (NYSE: JNPR) has introduced new enhancements to its Network as a Service (NaaS) capabilities, optimizing the deployment and management of SD-WAN network services through its partners. These upgrades incorporate a microservices cloud, open APIs, and Mist AI to improve user experience and operational efficiency. The updates include a common portal with an AI-driven operations dashboard, streamlined subscription management, and new payment options that enhance flexibility for partners and clients. These advancements aim to boost Juniper's market share in campus and branch networking.

NaaS Technology Inc. (NASDAQ: NAAS) has signed a strategic cooperation agreement with Tunghsu Group to enhance the construction, operation, and maintenance of EV charging stations in China. This partnership aims to accelerate the development of the new energy vehicle charging industry, addressing the increasing demand as sales of new energy vehicles rise sharply. As of mid-2022, NaaS operates 44,000 charging stations across 358 cities and connects over 400,000 chargers. The cooperation supports China's 'Dual Carbon' goals, ultimately advancing the new energy ecosystem.

NaaS Technology Inc. (NASDAQ: NAAS) reported robust financial results for Q2 and H1 2022, showcasing significant growth in its electric vehicle (EV) charging services in China. Q2 2022 charging volume rose to 580 GWh, up 135% YoY, with gross transaction value reaching RMB 537.2 million (US$ 80.2 million), a 125% increase. Total gross revenues for H1 were RMB 108 million (US$ 16.1 million), a 90% rise YoY. However, the net loss increased to RMB 565.2 million (US$ 84.4 million) in Q2, largely due to one-off costs related to listing and share-based compensations. The company anticipates charging volumes to exceed 2,700 GWh for FY 2022.