BEIJING, Feb.8, 2024 /PRNewswire/ -- NaaS
Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first
U.S. listed EV charging service company in China, today
provided an update on its recent business developments and
announced its revised revenue guidance for the financial year ended
December 31, 2023.
Focusing on improving operational
efficiency, the Company has achieved a positive net take rate (NTR,
transaction-side gross margin) while maintaining a 49%
year-over-year growth in charging volume for its connectivity
business during the month of January
2024. This achievement is built on the momentum of the
continuous expansion of its charging service, with charging volume
in the fourth quarter of 2023 increasing by over 55% as compared to
the same period in 2022.
The Company currently expects its revenue for the full year of
2023 to be in the range of RMB310
million (US$44 million) to
RMB330 million (US$46 million), representing a year-over-year growth of 234% to
256%, respectively. The foregoing is the current and
preliminary view of the Company's management and is subject to
changes and uncertainties.
About NaaS Technology Inc.
NaaS Technology Inc. (Nasdaq: NAAS) is the
first U.S. listed EV charging service company
in China. The Company is a subsidiary of NewLink
Technology Limited, a leading energy digitalization group
in China. The Company provides one-stop solutions to energy
asset owners comprising charging services, energy solutions and new
initiatives, supporting every stage of energy asset's lifecycle and
facilitating energy transition. As of September 30,
2023, NaaS had connected 767,611 chargers covering 73,710
charging stations, representing 41.6% and 50.0%
of China's public charging market share respectively.
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation
Reform Act of 1995. You can identify these forward-looking
statements by terminology such as "will," "expects," "believes,"
"anticipates," "intends," "estimates" and similar statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations, assumptions,
estimates and projections about the Company and the industry. All
information provided in this press release is as of the date
hereof, and the Company undertakes no obligation to update any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that its expectations will turn
out to be correct, and investors are cautioned that actual results
may differ materially from the anticipated results. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: NaaS' goals and strategies; its
future business development, financial conditions and results of
operations; its ability to continuously develop new technology,
services and products and keep up with changes in the industries in
which it operates; growth of China's EV charging industry
and EV charging service industry and NaaS' future
business development; demand for and market acceptance
of NaaS' products and services; NaaS' ability
to protect and enforce its intellectual property
rights; NaaS' ability to attract and retain qualified
executives and personnel; the COVID-19 pandemic and the effects of
government and other measures that have been or will be taken in
connection therewith; U.S.-China trade war and its effect
on NaaS' operation, fluctuations of the RMB exchange
rate, and NaaS' ability to obtain adequate financing for
its planned capital expenditure
requirements; NaaS' relationships with end-users,
customers, suppliers and other business partners; competition in
the industry; relevant government policies and regulations related
to the industry; and fluctuations in general economic and business
conditions in China and globally. Further information
regarding these and other risks is included in NaaS' filings
with the SEC.
Exchange Rate
This press release contains translations of certain RMB amounts
into USD at specified rates solely for the convenience of the
reader. Unless otherwise stated, all translations from RMB to USD
were made at the rate of RMB7.0999 to
US$1.00, the noon buying rate in
effect on December 29, 2023, in the
H.10 statistical release of the Federal Reserve Board. The Company
makes no representation that the RMB or USD amounts referred could
be converted into USD or RMB, as the case may be, at any particular
rate or at all. For analytical presentation, all percentages are
calculated using the numbers presented in the financial statements
contained in this earnings release.
For investor and media inquiries, please contact:
Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com
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SOURCE NaaS Technology Inc.
