NaaS Technology Inc.
NAAS · Price history
Price at last available close
$2.12
−$1.18 (-35.76%) 1M
2026-10-28
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Company & revenue
About NaaS Technology Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 13, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
NaaS Technology operates a platform-based EV charging interconnectivity business in China. The company generates revenue primarily by providing digital services to charging station operators, including online charging solutions, hardware sales, and value-added services, while shifting away from capital-intensive, low-margin full station operations.
Products & services
EV charging network connectivity, online charging solutions, charging hardware sales, and value-added services for charging station operators.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
- Charging station operatorsSource
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
No supplier relationships were confirmed in the sources reviewed. This does not mean the company has no suppliers.
Strengths
- Largest EV charging network in China by charging volume and public DCFC countSource
Risks
- Risks associated with restructuring corporate organization and transitioning to a new, unproven business modelSource
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
16
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
23
Poor
Financial Strength
32
Business Quality / Moat
0
Management
67
Growth Quality
0
Risk / Durability
0
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Model Outlook
12-month model · What does the model think happens next?
Outperformance analysis is not currently available.
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
A current Opportunity Score is not available.
The 12-month model outlook is not currently available.
No strong positive signal is being highlighted from the currently available summary data.
- •Severe debt stress
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for NAAS
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving NAAS's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •How long can NAAS fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Is NAAS's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What specifically needs to improve for NAAS to reach sustainable profitability?
- •What future growth or profitability would be needed to justify NAAS's current valuation?
Essential Investment Snapshot
Wall Street Score
16
Market Cap
$2.5M
P/E Ratio
-0.0
EPS
$-61.58
52-Week High
$4.26
52-Week Low
$1.80
Beta
1.52
Shares Outstanding
1.2M
Total Revenue
$15.5M
Total Debt
$85.4M
Dividend
No current dividend
Liquidation Value / Share
$-112.15
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
High movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for NAAS
Detected from reported data — verify before acting.Severe debt stress
Negative shareholder equity • Total debt is at least one year of revenue • Interest coverage is below 2x • Free cash flow is negative • Cash covers less than 20% of total debt
Community Sentiment
0 active · 0 total callsNo personal call yet on NAAS.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Largest EV charging network in China by charging volume and public DCFC count.
Potential downside factors
- −Debt risk (severe): Negative shareholder equity.
- −Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Free cash flow is negative.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
16
Oct 1, 2026
Change
Unchanged
Current Score
16
Oct 8, 2026
Category Changes
NAAS score was unchanged.
Projected Score
Projected Score
13
Projected Change
-2.2 points
Preliminary comparable-period financial changes suggest decline of approximately 2.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$2.12
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.5M | $18.6M | $29.9M | $47.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $3.3M | $2.6M | $16.8M | $34.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $12.2M | $16.0M | $13.2M | $13.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $1.6M | $2.2M | $6.3M | $9.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $27.9M | $42.3M | $85.4M | $166.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $41.7M | $44.4M | $133.4M | $172.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | -$14.4M | -$57.6M | -$130.1M | -$156.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | -$29.5M | -$28.4M | -$120.2M | -$158.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $2.2M | $4.9M | $5.7M | $4.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | -$73.7M | -$63.3M | -$138.1M | -$192.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $0.00 | $0.00 | -$2.9M | $564K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$72.8M | -$65.4M | -$136.1M | -$194.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $288.99 | $-20.93 | $-162.09 | $-276.50 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 7.8K | 3.04M | 822K | 706K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 3.1K | 3.04M | 822K | 706K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$3.4M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$152.55
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-32.2%
Cash Change
+3.4%
Margin Change
-63.8 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
- Debt reduced
What Weakened
- Margins contracted
Potential Score Impact
Positive indicators included cash levels, debt levels. Pressure indicators included revenue growth, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 31.7%. Cash increased 3.4%. Total debt declined 32.2%. Net income margin declined by 63.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Specialty RetailNews
NaaS Technology Inc.'s Parent Company Named to 2026 China Top 100 Private Service Enterprises List, Highlighting AI-Driven Digital Energy Services
NaaS Technology Inc.'s Parent Company Named to 2026 China Top 500 Private Enterprises List, Recognized for AI-Driven Energy Digitalization
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NaaS Technology Inc. Regains Compliance with Nasdaq Minimum Market Value of Listed Securities Requirement
Rumor Mill · NAAS
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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