NaaS Records 132% YoY Revenue Growth and 112% YoY Increase of Charging Volume reaching 2,251 GWh in H1 2023

Beijing, China, Sept. 08, 2023 (GLOBE NEWSWIRE) -- On September 8, NaaS (NASDAQ: NAAS), the first U.S. listed EV charging service company in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2023. Revenues grew by 121% year over year to RMB 48.6 million (US$6.7 million) in the second quarter of 2023 and 132% year over year to RMB 84.8 million (US$11.7 million) in the first half of 2023. 

Number of orders transacted through NaaS’ network reached 53.8 million in the second quarter of 2023 and 98.2 million in the first half of 2023, representing an increase of 110% and 110% year over year, respectively. Charging volume transacted through NaaS’ network reached 1,228 GWh in the second quarter of 2023 and 2,251 GWh in the first half of 2023, representing an increase of 112% and 112% year over year, respectively. 

As of June 30, 2023, more than 652,000 chargers in over 62,000 charging stations were connected and accessible on NaaS’ network, up by 80% from 362,000 and 59% from 39,000 as of June 30, 2022, respectively. Non-IFRS net loss attributable to ordinary shareholders increased by 12% year over year to RMB108.0 million (US$14.9 million) in the second quarter of 2023. 

Listed on NASDAQ since June 2022, NaaS is the first U.S. listed EV charging service company in China, with its share price up 49.6% from the beginning of 2023 to the close of trading on September 7th. Invesco WilderHill Clean Energy ETF, a subsidiary of global asset management magnate Invesco Ltd., has a large position of NaaS stock. NaaS has achieved several rounds of financing, with total fundraising year-to-date to US$91 million, and involved notable investors such as Dr. Adrian Cheng.

In the second quarter, 53.4% of NaaS' revenue goes to its offline and innovative services, achieving an unprecedented ratio of over 50%. Recently, NaaS' subsidiary Nengcang Technology has secured a RMB204 million energy storage order through strategic cooperation agreements with several enterprises, dedicated to improving photovoltaic-storage-charging integrated solutions. 

NaaS has also teamed up with Fortune 500 companies like Hyundai, PICC, CR, etc., so as to expand a broader range of business scenarios and help build ecosystem in new energy industry. The partnerships will bring out collaboration in charging infrastructure construction as well as digital and intelligent application of new energy.