NaaS Technology ADR Stock Price, News & Analysis

NaaS Technology (Nasdaq: NAAS), China's first U.S.-listed EV charging service company, has announced its participation in three major investor conferences in December 2024. The company will attend the GuruClub Global Investment Carnival 2025 on December 5, the Guotai Junan 2025 Annual Strategy Conference on December 10, and The 9th Zhitongcaijing Capital Market Annual Conference on December 12. All events will take place in Shenzhen, China.

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

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 November 2024. The company will attend the Huafu Securities 2024 Technology & Smart Manufacturing Strategy Conference in Shenzhen on November 25, the NaaS 2024 Institutional Investor Virtual Conference online on November 26, and the Tianfeng Securities 'Decisive Moment' 2025 Annual Strategy Conference in Shenzhen on November 27. Investors interested in meeting with NaaS management can arrange meetings through their event representatives or by contacting the company's investor relations team.

NaaS Technology reported significant financial improvements in Q3 2024, achieving its first positive non-IFRS net profit of RMB20.6 million (US$2.9 million). The company reached a record-high gross margin of 57%, while IFRS net loss approached breakeven at RMB8.3 million. Charging services revenue grew 36% year-over-year, representing 95% of total revenue. The company's platform saw a 34% increase in transaction users and 49% growth in connected chargers, while reducing sales expenses by 81%. The proportion of orders with positive Net Take Rate reached 73%, demonstrating improved operational efficiency.

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, has announced it will release its unaudited financial results for the third quarter ended September 30, 2024 before U.S. market opens on November 20, 2024. The company will host an earnings conference call at 8:00 AM U.S. Eastern time (9:00 PM Beijing/Hong Kong time) on the same day. Participants can join via dial-in numbers after online registration, and a live and archived webcast will be available on the company's investor relations website. A replay will be accessible until November 27, 2024.

NaaS Technology (Nasdaq: NAAS) has successfully launched the Zhejiang Province Charging Infrastructure Governance and Supervision Service Platform in collaboration with the Energy Bureau of Zhejiang Province. The platform, awarded to NaaS in December 2023, integrates the company's proprietary NEF system with government cloud resources to optimize EV charging infrastructure layout and operations. Notable operational improvements include a reduction in marketing expenses from 177% to 57% of revenue in Q2 2024, alongside 60% growth in registered users and 90% increase in transaction users.

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, announced that its Chief Financial Officer, Steven Sim, will participate in UBS's Charging Industry Call Series. The online event, titled 'Charged Up: Inflection of Earnings,' will be moderated by UBS's Head of China Auto Research, Wei Shen, and is scheduled for November 4, 2024, at 5:00 p.m. Beijing Time. Interested investors should contact their UBS institutional sales representative to join the event.

NaaS Technology Inc. (Nasdaq: NAAS) reported connecting approximately 1.15 million chargers to its charging network as of September 30, 2024, marking a 30% increase from the end of 2023. This growth surpassed the national average of 22% for the same period. The company's expansion is supported by AI-powered technologies and its Energy Fintech system, which enhance operational efficiency and enable predictive maintenance and strategic site selection. The company aims to improve the EV charging ecosystem through digital innovation and strategic partnerships.

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, has announced a strategic partnership with a leading regional charging station operator in Fujian Province. This collaboration will integrate over 100 charging stations and 1,600+ DC fast chargers into NaaS's strategic partner Kuaidian's charging service network, expanding NaaS's presence in major cities like Xiamen and Fuzhou, as well as smaller cities in the region.

The partnership aims to enhance charging facility interconnectivity, targeted traffic guidance, and seamless payments. Fujian Province has over 700,000 NEVs and 105,000 public charging piles as of August 2024, with Xiamen and Fuzhou experiencing robust growth in NEV penetration. NaaS continues to expand partnerships with prominent NEV brands and third-party platforms, while leveraging its AI-driven NEF system to improve charging operators' profitability.

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, has announced a strategic focus on its interconnectivity charging business. The company aims to leverage AI technology and industry partnerships to accelerate ecosystem development in China's rapidly growing EV charging industry.

NaaS is expanding its charging station network by attracting local operators with advanced AI-powered services. The company has introduced the NEF (NaaS Energy Fintech) system, which automates site selection and optimizes charging efficiency. NaaS is also expanding its user base by integrating services into car manufacturers' systems and partnering with third-party platforms.

In the first half of 2024, NaaS expanded partnerships with major enterprises and industry leaders, as well as prominent electric vehicle brands. The company's Kuaidian mobile app and in-vehicle smart systems enable EV owners to easily access NaaS charging stations.