NaaS Technology Inc. Achieves Strong Demand-side Growth in Charging Service Business, Covering Over 60% of China's NEV Owners

Core Insights - NaaS Technology Inc. has significantly expanded its charging interconnectivity business, adding approximately 6.4 million new registered users in 2024, bringing the total to nearly 19 million users by the end of the year, which covers over 60% of China's new energy vehicle (NEV) owners [1][2] - The sales penetration rate of NEVs in China reached 52% in November 2024, indicating a growing demand for intelligent and efficient charging solutions, which NaaS is addressing through partnerships and network expansion [2][3] Company Overview - NaaS Technology Inc. is the first U.S.-listed EV charging service company in China and is a subsidiary of Newlinks Technology Limited, focusing on providing comprehensive energy solutions and supporting the energy transition [4] Market Position and Strategy - NaaS has connected nearly 1.15 million chargers, representing 35% of China's public charging infrastructure, and is committed to enhancing service efficiency and network coverage to streamline EV charging for users [2][3] - The company aims to deepen collaborations with auto OEMs, third-party platforms, and charge point operators to reinforce its market position and drive sustainable growth [3]