NaaS Technology (ADR) (NAAS)
Connecting drivers and charging stations through software, transaction commissions, and selected operations.
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Connects EV drivers with third-party Chinese charging stations, earning transaction commissions while supplying operator software and selected station operations. The business is shifting away from capital-intensive hardware and EPC work toward an asset-light platform, with driver connectivity dependent on Kuaidian's third-party operator.
Matches EV drivers with third-party charging stations in China through mobility connectivity and charging-station software. Kuaidian presents location and charger information, while the platform supports traffic, marketing, payments, charger and order management, load management, and memberships.
Earns commissions when charging transactions complete and, where it holds operating rights, runs stations and pays owners transaction-linked fees. Energy solutions include site selection, hardware procurement, EPC, and optimization, while newer services include electricity procurement, virtual-power-plant services, and station amenities. Recent retrenchment favors an asset-light platform over capital-intensive operations.
Operations run chiefly through PRC subsidiaries, but driver connectivity depends on Kuaidian's third-party operator, station coverage, and charging demand. The Cayman holding-company structure also depends on PRC rules governing cash transfers, foreign exchange, data, cybersecurity, and personal information.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $11.5M · Total debt $85.7M · Total assets $43.8M · Shareholders' equity −$139.8M
- Revenue
- $3.4M
- Operating income
- $2.2M
- Net income
- $1.2M
Reported in CNY, converted at the latest exchange rate
No dividends on record.
| Institutions | 1.54% | 18.3K ADS | |
|---|---|---|---|
| 7 holders · as of Jun 30, 2026 | |||
| Other | 98.46% | 1.16M ADS | |
| remainder | |||
1.18M ADS (1 ADS = 10 ordinary shares) as of Sep 12, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
This company has 3 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Citadel Advisors LLCInstitution | 1.02% | 12,072 A ADS | as of Jun 30, 2026 |
Morgan StanleyInstitution | 0.48% | 5,644 A ADS | as of Jun 30, 2026 |
Rhumbline AdvisersInstitution | 0.03% | 349 A ADS | as of Jun 30, 2026 |
UBS Group AGInstitution | 0.01% | 171 A ADS | as of Jun 30, 2026 |
Ifp Advisors, IncInstitution | 0.00% | 24 A ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NaaS Technology (ADR) | $3.09 | −0.32% | $3.7M | 0.0 | 0.0 | 0.2 | −27.9% |
| NIO (ADR) | $3.71 | +1.05% | $9.11B | — | — | 0.5 | +78.3% |
| Li Auto (ADR) | $11.70 | +1.52% | $11.63B | — | 79.1 | 0.7 | −10.5% |
| XPeng (ADR) | $10.46 | −0.10% | $9.95B | — | — | 0.9 | +14.0% |
| Median | — | 79.1 | 0.7 | +14.0% |