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1. Company Snapshot

1.a. Company Description

NaaS Technology Inc.provides electric vehicle (EV) charging services in China.It serves charging station operators, charger manufacturers, EV OEMs, and other end-users.


The company was founded in 2019 and is based in Beijing, China.

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1.b. Last Insights on NAAS

NaaS Technology Inc.'s recent performance was negatively impacted by the cancellation of its Annual General Meeting (AGM) on January 25, 2025, which may have raised concerns among investors about the company's governance and transparency. Additionally, the announcement of a share repurchase program of up to US$10 million on February 21, 2025, may have been overshadowed by the lack of a clear earnings guidance or a significant earnings beat in the recent quarter.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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NaaS Technology Inc. Received Nasdaq Notification Regarding Minimum Market Value Deficiency

Feb -20

Source: prnewswire.com

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NaaS Technology Inc. Announces Results of Extraordinary General Meeting on January 23, 2026

Jan -23

Source: prnewswire.com

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NaaS Technology Inc. to Hold Extraordinary General Meeting on January 23, 2026

Jan -05

Source: prnewswire.com

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NaaS Technology Inc. Completes 21,000-Ton Carbon-Inclusive Credit Transaction with Strategic Partner Kuaidian, Advancing Monetization in Green Mobility

Dec -31

Source: prnewswire.com

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NaaS Technology Inc. Regains Compliance with Nasdaq Minimum Market Value of Listed Securities Requirement

Dec -10

Source: prnewswire.com

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NaaS Technology Inc. Announces Results of 2025 Annual General Meeting

Oct -10

Source: prnewswire.com

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NaaS Technology Inc. to Hold Annual General Meeting on October 10, 2025

Sep -09

Source: prnewswire.com

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NaaS Technology Inc. Releases 2024 ESG Report, Highlighting Strong Green Transition Initiatives

Aug -27

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (21.56%)

6. Segments

Energy Solutions

Expected Growth: 19.82%

NaaS Technology Inc.'s Energy Solutions segment growth of 19.82% is driven by increasing adoption of electric vehicles, government incentives for sustainable energy, and rising demand for energy storage solutions. Additionally, the company's expansion into new markets, strategic partnerships, and investments in research and development are contributing to its rapid growth.

Charging Services

Expected Growth: 24.7%

NaaS Technology Inc.'s Charging Services growth of 24.7% is driven by increasing adoption of electric vehicles, government incentives for EV infrastructure development, and rising demand for fast and convenient charging solutions. Additionally, partnerships with automakers and real estate companies, as well as expansion into new markets, contribute to the segment's rapid growth.

New Initiatives

Expected Growth: 10.27%

NaaS Technology Inc.'s 10.27% growth is driven by increasing adoption of electric vehicles, government incentives for sustainable energy, and strategic partnerships expanding its charging network. Additionally, growing demand for clean energy solutions, investments in technology advancements, and expanding into new markets contribute to the company's rapid growth.

7. Detailed Products

Network as a Service (NaaS)

A cloud-based network infrastructure that provides secure, scalable, and on-demand network resources to businesses.

Software-Defined Wide Area Networking (SD-WAN)

A software-defined networking solution that enables secure, agile, and optimized WAN connectivity for distributed enterprises.

Secure Access Service Edge (SASE)

A cloud-based security framework that provides secure, fast, and reliable access to applications and resources for remote users.

Cloud-Based Security Services

A suite of cloud-based security services, including firewall, intrusion detection, and antivirus protection, to secure network traffic and data.

Managed Network Services

A comprehensive managed network service that includes network monitoring, maintenance, and support to ensure network uptime and performance.

8. NaaS Technology Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for NaaS Technology Inc. is medium because while there are some alternatives available, they are not yet widely adopted and do not pose a significant threat to the company's market share.

Bargaining Power Of Customers

The bargaining power of customers for NaaS Technology Inc. is low because the company's products and services are highly specialized and customers have limited alternatives.

Bargaining Power Of Suppliers

The bargaining power of suppliers for NaaS Technology Inc. is medium because while the company relies on a few key suppliers, it also has some flexibility to switch to alternative suppliers if needed.

Threat Of New Entrants

The threat of new entrants for NaaS Technology Inc. is high because the company operates in a rapidly evolving industry with low barriers to entry, making it easier for new competitors to emerge.

Intensity Of Rivalry

The intensity of rivalry for NaaS Technology Inc. is high because the company operates in a highly competitive industry with many established players, leading to intense competition for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 104.73%
Debt Cost 3.95%
Equity Weight -4.73%
Equity Cost 9.55%
WACC 3.68%
Leverage -2214.22%

11. Quality Control: NaaS Technology Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Natural Health Trends

A-Score: 6.1/10

Value: 8.1

Growth: 3.6

Quality: 6.5

Yield: 10.0

Momentum: 2.0

Volatility: 6.7

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Kirkland's

A-Score: 4.4/10

Value: 10.0

Growth: 2.2

Quality: 6.0

Yield: 0.0

Momentum: 5.5

Volatility: 2.7

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U Power

A-Score: 4.3/10

Value: 9.1

Growth: 6.3

Quality: 5.0

Yield: 0.0

Momentum: 1.5

Volatility: 3.7

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Beyond

A-Score: 3.8/10

Value: 8.5

Growth: 0.7

Quality: 3.3

Yield: 0.0

Momentum: 9.0

Volatility: 1.3

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Solo Brands

A-Score: 3.6/10

Value: 10.0

Growth: 5.7

Quality: 3.5

Yield: 0.0

Momentum: 2.0

Volatility: 0.3

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NaaS Technology

A-Score: 3.1/10

Value: 8.4

Growth: 4.0

Quality: 5.0

Yield: 0.0

Momentum: 1.0

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

2.38$

Current Price

2.38$

Potential

-0.00%

Expected Cash-Flows