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NaaS Technology Inc.

NAAS

NASDAQConsumer CyclicalSpecialty Retail

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Previous close

$3.37

+$0.105 · +3.22%

Aug 21, 4:00 PM ET

NAAS company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

30

Expensive

Momentum

65

Gaining

Sentiment

51

Mixed

Risk resilience

36

High Risk

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Company profile

Company website

Founded in 2019 and headquartered in Beijing, China, this company offers electric vehicle (EV) charging solutions throughout the country. Its services cater to a wide range of clients, including charging station operators, manufacturers of EV charging equipment, original equipment manufacturers (OEMs) of electric vehicles, and individual consumers.

Industry
Specialty Retail
Sector
Consumer Cyclical
Headquarters
CN
CEO
Yang Wang
Listed since
Oct 20, 2017
Employees
181

Market position

Day range

Current $3.37

52-week range

Current $3.37

Open
$3.35
Previous close
$3.265
Volume
16.87K
0.98× average
Average volume
17.18K
Average daily volume
Market cap
3.99M USD
Beta
1.54
Market reference 1
50-day average
$3.228
+4.40% above average
200-day average
$2.9558
+14.01% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
598.44M CNY
P/E (TTM)
-0.21×
P/B (TTM)
-0.11×
P/S (TTM)
0.21×
EV / EBITDA
-1.55×
Earnings yield
-610.53%
Free cash flow yield
-43.69%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
85.92%
Operating margin
-212.40%
Net margin
-350.77%
Return on equity
55.14%
Return on assets
-97.28%
Return on invested capital
131.01%

Financial health

Debt / equity
-0.63×
Current ratio
0.19×
Altman Z-score
-43.95
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends702%-1762%-4226%-6690%Gross margin, FY2021: 11.56%Gross margin, FY2022: 6.64%Gross margin, FY2023: 27.73%Gross margin, FY2024: 44.06%Gross margin, FY2025: 85.92%Operating margin, FY2021: -759.41%Operating margin, FY2022: -2650.98%Operating margin, FY2023: -333.16%Operating margin, FY2024: -401.55%Operating margin, FY2025: -152.41%Net margin, FY2021: -778.59%Net margin, FY2022: -6073.83%Net margin, FY2023: -408.31%Net margin, FY2024: -454.52%Net margin, FY2025: -350.77%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 11.56%. Gross margin FY2022 6.64%. Gross margin FY2023 27.73%. Gross margin FY2024 44.06%. Gross margin FY2025 85.92%. Operating margin FY2021 -759.41%. Operating margin FY2022 -2650.98%. Operating margin FY2023 -333.16%. Operating margin FY2024 -401.55%. Operating margin FY2025 -152.41%. Net margin FY2021 -778.59%. Net margin FY2022 -6073.83%. Net margin FY2023 -408.31%. Net margin FY2024 -454.52%. Net margin FY2025 -350.77%.

Income trends

Revenue

125.14M CNY-37.73%

Operating income

−190.72M CNY+76.37%

Net income

−438.96M CNY+51.95%
Income trends across reported periods915.82M CNY−1.47B CNY−3.85B CNY−6.23B CNYRevenue, FY2021: 33.45M CNYRevenue, FY2022: 92.81M CNYRevenue, FY2023: 320.08M CNYRevenue, FY2024: 200.98M CNYRevenue, FY2025: 125.14M CNYOperating income, FY2021: −254.05M CNYOperating income, FY2022: −2.46B CNYOperating income, FY2023: −1.07B CNYOperating income, FY2024: −807.03M CNYOperating income, FY2025: −190.72M CNYNet income, FY2021: −260.46M CNYNet income, FY2022: −5.64B CNYNet income, FY2023: −1.31B CNYNet income, FY2024: −913.48M CNYNet income, FY2025: −438.96M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 33.45M CNY. Revenue FY2022 92.81M CNY. Revenue FY2023 320.08M CNY. Revenue FY2024 200.98M CNY. Revenue FY2025 125.14M CNY. Operating income FY2021 −254.05M CNY. Operating income FY2022 −2.46B CNY. Operating income FY2023 −1.07B CNY. Operating income FY2024 −807.03M CNY. Operating income FY2025 −190.72M CNY. Net income FY2021 −260.46M CNY. Net income FY2022 −5.64B CNY. Net income FY2023 −1.31B CNY. Net income FY2024 −913.48M CNY. Net income FY2025 −438.96M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue125.14M CNY200.98M CNY320.08M CNY92.81M CNY33.45M CNY
Cost of goods sold17.62M CNY112.43M CNY231.32M CNY86.65M CNY29.59M CNY
Gross profit107.52M CNY88.54M CNY88.76M CNY6.17M CNY3.87M CNY
Research and development14.6M CNY42.07M CNY63.05M CNY36.56M CNY37.16M CNY
Selling, general, and administrative283.64M CNY573.51M CNY1.12B CNY2.44B CNY227.8M CNY
Operating expenses298.24M CNY895.57M CNY1.16B CNY2.47B CNY257.91M CNY
Interest expense32.57M CNY38.01M CNY31.16M CNY10.28M CNY1.1M CNY
Depreciation and amortization5.58M CNY15.87M CNY8.87M CNY377K CNY6.57M CNY
Operating income−190.72M CNY−807.03M CNY−1.07B CNY−2.46B CNY−254.05M CNY
Net income−438.96M CNY−913.48M CNY−1.31B CNY−5.64B CNY−260.46M CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
25%
1 beat, 3 misses, 0 met estimates
Average EPS surprise
-144076.43%
4 comparable reports
Latest EPS result
-7.73
Estimate 7.38 · Miss by 204.76%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates788.75222.3-344.15-910.59Q3 '24No estimateQ4 '24No estimateQ2 '25No estimateQ2 '25No estimateQ3 '25No estimateQ4 '25BeatQ2 '26MissQ3 '26Estimate
Q3 2024, reported Jul 24, 2024: actual -6.72, estimate —, surprise —, Comparison unavailable. Q4 2024, reported Nov 20, 2024: actual 2.08, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 10, 2025: actual -0.877, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Jun 4, 2025: actual 3.65, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 22, 2025: actual 3.7, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 1, 2025: actual -7.6, estimate -793.4, surprise +99.04%, Beat. Q2 2026, reported Apr 16, 2026: actual -7.73, estimate 7.38, surprise -204.76%, Miss. Q3 2026, reported Jul 17, 2026: actual —, estimate 671.55, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates13.28M10.02M6.76M3.49MQ3 '24No estimateQ4 '24No estimateQ2 '25No estimateQ2 '25No estimateQ3 '25MetQ4 '25MissQ2 '26MetQ3 '26Estimate
Q3 2024, reported Jul 24, 2024: actual 12.6M USD, estimate —, surprise —, Comparison unavailable. Q4 2024, reported Nov 20, 2024: actual 6.14M USD, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 10, 2025: actual 6.2M USD, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Jun 4, 2025: actual 4.57M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 22, 2025: actual 4.64M USD, estimate 4.64M USD, surprise 0.00%, Met estimate. Q4 2025, reported Oct 1, 2025: actual 4.11M USD, estimate 5.01M USD, surprise -17.89%, Miss. Q2 2026, reported Apr 16, 2026: actual 4.18M USD, estimate 4.18M USD, surprise 0.00%, Met estimate. Q3 2026, reported Jul 17, 2026: actual —, estimate 4.94M USD, surprise —, Comparison unavailable.

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