NaaS stocks jumped 70% in last two weeks. What happened?

February 09, 2024 01:24 AM AEDT | By Cision

NaaS stocks jumped 70% in last two weeks. What happened? — Image source: Kalkine Media

Recent News

The Delicate Art of Designing for the Future

Tork Helps Healthcare Professionals Prioritize Hand Hygiene With VR Tr...

Is Now the Right Time to Explore the FTSE 100 Index?

Saviynt Appoints Chillisoft as Strategic Distribution Partner to Expan...

BEIJING, Feb. 8, 2024 /PRNewswire/ -- Recently, NaaS (NASDAQ: NAAS) staged a huge bullish run in the NASDAQ market, with its stock price soaring by nearly 70% in just two weeks. As of the closing on February 7, its stock price reached $1.81 per share, 70% above its previous low. Underpinning the sudden rise was good news about the company's operation performance and future growth potential.

On February 8, 2024, NaaS announced that its charging network services achieved Net Take Rate (NTR，transaction-side gross profit) for the first time for January 2024. In the meantime, the company estimates that its revenue for the full year of 2023 to be in the range of RMB 310 million to RMB 330 million, 3.3 - 3.5 times that of 2022. Such a leap forward is attributed to the rapid expansion of its charging services and improved operational efficiency, especially the integration of online and offline resources. The charging volume increased by over 55% in Q4 of 2023, and 49% in January 2024, respectively.

In addition, NaaS has also attracted the attention and continuous investment from at least five internationally renowned investment institutions, including ELEC, an ETF managed by Envestnet; CCSO, an actively-managed climate change solutions ETF; and Invesco WilderHill Clean Energy ETF (PBW) under Invesco. The latest data shows that, as of the end of January, the number of institutional investors has increased to 28, more than doubling since the company's listing.

NaaS has continued to be recognized by multiple domestic and foreign index institutions and was included in the WilderHill Clean Energy Index and the Solactive Electric Vehicle Charging Infrastructure Index and other indexes by index companies such as China Securities Index Co., Ltd., Wind and BITA. Such recognition has further enhanced the company's position and reputation in the market.

In terms of overall profitability, NaaS' parent company, NewLink, announces that its refined oil business has become profitable. The positive financial condition, coupled with the continuous growth of the company's revenue and profitability, has laid a solid foundation for the steady rise of NaaS' stock price. With its continuous breakthroughs in the clean energy and solidification of market position, NaaS demonstrates enormous potential for long-term growth.

For media enquiries, please contact: Sabrina Wang, Email: [email protected].

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.