BEIJING, April 28, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announces that the previously announced change of the ratio (the "ADS Ratio") of its American depositary shares (the "ADSs") to its Class A ordinary shares has taken effect at the open of business on April 28, 2025 (U.S. Eastern Time) ("Effective Date").The change in the ADS Ratio, from one ADS to 200 Class A ordinary shares to one ADS to 80 ...

BEIJING, April 24, 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 that it will change the ratio of its American Depositary Shares (the "ADSs") to its Class A ordinary shares (the "ADS Ratio"), par value US$0.01 per share, from the current ADS Ratio of one ADS to 200 Class A ordinary shares to a new ADS Ratio of one ADS to 800 Class A ordinary shares. The change in the ADS Ratio will become e ...

BEIJING, March 19, 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 management will participate in Huayuan Securities Spring Strategy Conference in Wuhan, China on Thursday, March 20, 2025. The Company's session is scheduled at 3:30 p.m. Beijing Time. Connect with NaaS Management For more information or to schedule a one-on-one meeting with NaaS management, please contact your event representa ...

BEIJING, March 17, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced a strategic partnership with Xiaomi Auto, a subsidiary of Xiaomi Group (HKEX: 1810). Through this collaboration, two companies will work together to enhance interconnectivity in EV charging, elevate user experience, and drive innovation in intelligent mobility. By integrating NaaS's extensive charging network with Xiaomi Auto, the ...

Investment Rating - The report initiates coverage on NaaS (NAAS.US) with a "Buy" rating and a target price of $3.20, indicating a potential upside of 178% from the current price of $1.15 [4][3]. Core Insights - NaaS is positioned as a leading electric vehicle charging service platform in China, capitalizing on a vast market opportunity as the industry expands [5][8]. - The company has focused its strategy in 2024 on a light-asset business model, resulting in a significant increase in gross margin from 19% in Q4 2023 to 57% in Q3 2024, and a turnaround in net profit margin from -525% to 46% in the same period [3][22]. - The report anticipates that NaaS will achieve breakeven in 2025, transitioning from a startup valuation model to a growth company valuation model, with projected revenues of 1.83 billion, 2.29 billion, and 3.60 billion yuan for 2024-2026 [3][43]. Summary by Sections Company Overview - NaaS, established in 2019 and listed on NASDAQ in 2022, is the largest electric vehicle charging service provider in China, offering charging solutions and value-added services to electric vehicle owners and partners [8][9]. Market Growth - The electric vehicle market in China is rapidly expanding, with the number of electric vehicles expected to exceed 45 million by 2025, driven by policy support and technological advancements [17][18]. - The charging service market has developed a "car-pile synergy" model, with public charging stations expected to reach approximately 3.58 million by the end of 2024 [18][21]. Strategic Focus - In 2024, NaaS has strategically focused on its core charging service business, which now contributes over 95% of total revenue, with a notable increase in gross profit from 12 million yuan in Q4 2023 to 25 million yuan in Q3 2024 [22][24]. Competitive Landscape - The competitive environment is improving, with NaaS enhancing its bargaining power due to a fragmented supply market and a reduction in competition among peers [30][34]. - The company has seen its gross take rate increase from approximately 10% in 2023 to 16.1% in Q3 2024, indicating improved negotiation capabilities with charging station operators [33][29]. AI and Data Utilization - NaaS is leveraging its extensive transaction data to develop AI-driven solutions that enhance operational efficiency and user engagement, establishing a comprehensive ecosystem with various partners [39][40]. Valuation Transition - The report predicts a shift in NaaS's valuation from a startup model to a growth company model, with expected revenue growth and profitability improvements leading to a target price of $3.20 based on a 1.4x P/S ratio for 2025 [3][43].

投资评级（推荐） 能链智电（NAAS.US） 证券研究报告 | 公司研究报告 新能源汽车 | 2025 年03 | 月07 日 | 充电运营服务平台领军者，盈利拐点有望带来大幅 估值回升 | | --- | --- | --- | | 纳斯达克综合指数 | 18069.26 | | | 目标价（美元） | 3.20 | 首次覆盖能链智电（NAAS.US），给予"推荐评级"，目标价 3.20 美元。 | | 潜在涨幅 | 178% | | | | | 中国领先的新能源车充电服务平台正开启庞大市场机会 | | 市场数据 | | | | 收盘价 | 1.15 | 能链智电是中国领先的新能源车充电服务平台，截至 3Q24，公司覆盖约 115 | | 52 周最高/最低 | 31.000/1.085 | 万根充电枪及 9.6 万充电场站，在公司平台上交易的用户接近 1400 万，约占 | | 总市值（万美元） | 1585.1 | 供给侧供给的 35%，并渗透约 50%的新能源车车主。公司单季度的充电电量 | | 流通市值（万美元） | 419.55 | 接近 13 亿度，并产生超过 5000 万笔订单，其数据积累有望 ...

证券研究报告 | 公司研究报告 新能源汽车 | 2025 年03 | 月07 日 | 充电运营服务平台领军者，盈利拐点有望带来大幅 估值回升 | | --- | --- | --- | | 纳斯达克综合指数 | 18069.26 | | | 目标价（美元） | 3.20 | 首次覆盖能链智电（NAAS.US），给予"推荐评级"，目标价 3.20 美元。 | | 潜在涨幅 | 178% | | | | | 中国领先的新能源车充电服务平台正开启庞大市场机会 | | 市场数据 | | | | 收盘价 | 1.15 | 能链智电是中国领先的新能源车充电服务平台，截至 3Q24，公司覆盖约 115 | | 52 周最高/最低 | 31.000/1.085 | 万根充电枪及 9.6 万充电场站，在公司平台上交易的用户接近 1400 万，约占 | | 总市值（万美元） | 1585.1 | 供给侧供给的 35%，并渗透约 50%的新能源车车主。公司单季度的充电电量 | | 流通市值（万美元） | 419.55 | 接近 13 亿度，并产生超过 5000 万笔订单，其数据积累有望帮助公司在快速 | | 股价相对走势 | | ...

BEIJING, Feb. 21, 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 its board of directors (the "Board") has approved a share repurchase program (the "Share Repurchase Program"), effective from February 21, 2025. Pursuant to the Share Repurchase Program, the Company may repurchase up to US$10 million of its American depositary shares ("ADSs") over the next 12 months through the end of February ...

BEIJING, Feb. 12, 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 management will participate in the following upcoming investor conferences in February 2025: Event: Zheshang Securities 2025 Q1 Institutional Investment ConferenceDate: February 13, 2025Place: Shenzhen, ChinaOrganizer: Zheshang Securities Event: Founder Securities 2025 Listed Companies Investor Forum - "Walking with the Spring ...

BEIJING, Feb. 6, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced substantial expansion in its charging interconnectivity business, adding approximately 6.4 million new registered users in 2024. As of December 31, 2024, the total registered users through NaaS's strategic partner, the Kuaidian platform, reached nearly 19 million, covering over 60% of China's new energy vehicle (NEV) owners. This est ...