NaaS Technology CSO reports large option holdings

NaaS Technology Inc. Chief Strategy Officer Wu Ye filed an initial ownership report showing multiple stock option grants over Class A ordinary shares.

Rhea-AI Filing Summary

NaaS Technology Inc. Chief Strategy Officer Wu Ye filed an initial ownership report showing multiple stock option grants over Class A ordinary shares. The filing lists options over 496,000 shares at an exercise price of $0.0001 per share expiring on January 31, 2032, 950,400 shares at $0.30 per share expiring on March 31, 2033, 2,000,000 shares at $0.01 per share expiring on July 2, 2033, and 278,400 shares at $0.0001 per share expiring on September 30, 2033. Footnotes describe staged vesting from February 2023 through July 2027, indicating these are long-term incentive awards rather than market trades.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider WU YE (NMN)

Role Chief Strategy Officer

Type	Security	Shares	Price	Value
holding	Stock options	--	--	--
holding	Stock options	--	--	--
holding	Stock options	--	--	--
holding	Stock options	--	--	--

Holdings After Transaction: Stock options — 3,724,800 contracts (Direct)

Footnotes (6)

1. F1. The stock options became exercisable as to 121,600 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on February 1,2023; 121,600 Class A ordinary shares of Issuer on February 1,2024; 128,000 Class A ordinary shares of Issuer on February 1, 2025 and 124,800 Class A ordinary shares of Issuer on February 1, 2026.
2. F2. The stock options became exercisable as to 236,800 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on March 30, 2024; 236,800 Class A ordinary shares of Issuer on March 30, 2025. The stock options will become exercisable as to 236,800 Class A ordinary shares of Issuer on March 30, 2026 and 240,000 Class A ordinary shares of Issuer on March 30, 2027.
3. F3. The stock options became exercisable as to 499,200 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on July 3, 2024; 502,400 Class A ordinary shares of Issuer on July 3, 2025. The stock options will become exercisable as to 499,200 Class A ordinary shares of Issuer on July 3, 2026 and 499,200 Class A ordinary shares of Issuer on July 3, 2027.
4. F4. The stock options became exercisable in monthly installments of 19,200 shares for each month from December 15, 2023 through December 15, 2024, and a final installment of 28,800 shares on January 15, 2025.
5. F5. The exercise price of the stock option is US$0.00000305 per share.
6. F6. The exercise price of the stock option is US$0.00005 per share.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the NaaS (NAAS) Form 3 filing by Wu Ye report?

The Form 3 reports Wu Ye’s existing stock option holdings in NaaS Technology Inc. It lists several option grants over Class A ordinary shares, including exercise prices, expiration dates, and vesting schedules, establishing his baseline derivative ownership as Chief Strategy Officer.

How many NaaS Technology stock options does Wu Ye hold in this Form 3?

The filing shows options over 3,724,800 underlying Class A ordinary shares. These comprise 496,000 shares, 950,400 shares, 2,000,000 shares, and 278,400 shares across four separate option grants, each with its own exercise price and expiration date.

What are the exercise prices of Wu Ye’s NaaS stock options in the Form 3?

The disclosed exercise prices are $0.0001, $0.30, $0.01, and $0.0001 per share. Each price applies to a different option grant over Class A ordinary shares, reflecting varying grant terms and likely different award dates and structures.

When do Wu Ye’s NaaS stock options reported on Form 3 expire?

The options expire between January 31, 2032 and September 30, 2033. Individual grants terminate on January 31, 2032, March 31, 2033, July 2, 2033, and September 30, 2033, indicating these awards are intended as long-term incentives for the executive.

How do Wu Ye’s NaaS stock options vest according to the Form 3 footnotes?

The footnotes describe multi-year, staged vesting schedules for each grant. Portions became exercisable on specific dates from February 1, 2023, with additional tranches vesting through March 30, 2027, July 3, 2027, and monthly installments through January 15, 2025.

Does Wu Ye’s NaaS Form 3 show any stock sales or purchases?

The Form 3 reflects option holdings, not open-market stock purchases or sales. All entries are derivative holdings with unknown transaction codes, establishing ownership of option awards rather than reporting new buy or sell transactions in the company’s shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 01:52 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

WU YE (NMN)

(Last) (First) (Middle)

C/O NEWLINK CTR, AREA G, BLDG 7,

HUITONG TIMES SQUARE, 1 YAOJIAYUAN S RD

(Street)

BEIJING CHAOYANG DISTRICT 100024

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
NaaS Technology Inc. [ NAAS ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Strategy Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock options	(1)	01/31/2032	Class A ordinary shares	496,000	$0.0001(5)	D
Stock options	(2)	03/31/2033	Class A ordinary shares	950,400	$0.3	D
Stock options	(3)	07/02/2033	Class A ordinary shares	2,000,000	$0.01	D
Stock options	(4)	09/30/2033	Class A ordinary shares	278,400	$0.0001(6)	D

Explanation of Responses:

1. The stock options became exercisable as to 121,600 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on February 1,2023; 121,600 Class A ordinary shares of Issuer on February 1,2024; 128,000 Class A ordinary shares of Issuer on February 1, 2025 and 124,800 Class A ordinary shares of Issuer on February 1, 2026.

2. The stock options became exercisable as to 236,800 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on March 30, 2024; 236,800 Class A ordinary shares of Issuer on March 30, 2025. The stock options will become exercisable as to 236,800 Class A ordinary shares of Issuer on March 30, 2026 and 240,000 Class A ordinary shares of Issuer on March 30, 2027.

3. The stock options became exercisable as to 499,200 Class A ordinary shares of NaaS Technology Inc. ("Issuer") on July 3, 2024; 502,400 Class A ordinary shares of Issuer on July 3, 2025. The stock options will become exercisable as to 499,200 Class A ordinary shares of Issuer on July 3, 2026 and 499,200 Class A ordinary shares of Issuer on July 3, 2027.

4. The stock options became exercisable in monthly installments of 19,200 shares for each month from December 15, 2023 through December 15, 2024, and a final installment of 28,800 shares on January 15, 2025.

5. The exercise price of the stock option is US$0.00000305 per share.

6. The exercise price of the stock option is US$0.00005 per share.

	/s/ Ye Wu	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)