BEIJING, May 21, 2025
/PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the
"Company"), the first U.S. listed EV charging service company in
China, today announced that it
received a Notice of Non-Compliance (the "Notice") from Nasdaq
Stock Market LLC ("Nasdaq") on May 20,
2025, due to the late filing of its annual report on Form
20-F for the fiscal year ended December 31,
2024 (the "Annual Report").
The Notice indicates that the Company is not in compliance with
Nasdaq Listing Rule 5250(c)(1), which requires timely submission of
periodic financial reports to the U.S. Securities and Exchange
Commission. This Notification has no immediate effect on the
listing or trading of NaaS's securities on Nasdaq.
Pursuant to the Nasdaq Listing Rules, the Company has 60
calendar days from the date of the Notice to submit a compliance
plan. If accepted by Nasdaq, NaaS may be granted an extension of up
to 180 calendar days from the original due date of the Annual
Report, or until November 11, 2025,
to regain compliance.
NaaS is fully committed to addressing this matter promptly to
regain compliance with Nasdaq's listing requirements. The Company
is working diligently to complete and file its Annual Report as
soon as reasonably practicable.
About NaaS Technology Inc.
NaaS Technology Inc. is the first U.S. listed EV charging
service company in China. The
Company is a subsidiary of Newlinks Technology Limited, a leading
energy digitalization group in China. As a top-tier new energy asset
operator, NaaS leverages cutting-edge technology to intelligently
connect charging supply with demand, delivering a seamless,
efficient, and smart charging experience for EV users.
Beyond enhancing the charging experience, NaaS empowers charging
stations and operators through data-driven operational
optimization, boosting efficiency and profitability across the
ecosystem.
Safe Harbor Statement
This press release contains statements of a forward-looking
nature. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward-looking statements by
terminology such as "will," "expects," "believes," "anticipates,"
"intends," "estimates" and similar statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations, assumptions,
estimates and projections about the Company and the industry. All
information provided in this press release is as of the date
hereof, and the Company undertakes no obligation to update any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that its expectations will turn
out to be correct, and investors are cautioned that actual results
may differ materially from the anticipated results. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: NaaS' goals and strategies; its future
business development, financial conditions and results of
operations; its ability to continuously develop new technology,
services and products and keep up with changes in the industries in
which it operates; growth of China's EV charging industry
and EV charging service industry and NaaS' future business
development; demand for and market acceptance of NaaS' products and
services; NaaS' ability to protect and enforce its intellectual
property rights; NaaS' ability to attract and retain qualified
executives and personnel; the COVID-19 pandemic and the effects of
government and other measures that have been or will be taken in
connection therewith; U.S.-China trade war and its effect on
NaaS' operation, fluctuations of the RMB exchange rate, and NaaS'
ability to obtain adequate financing for its planned capital
expenditure requirements; NaaS' relationships with end-users,
customers, suppliers and other business partners; competition in
the industry; relevant government policies and regulations related
to the industry; and fluctuations in general economic and business
conditions in China and globally. Further information
regarding these and other risks is included in NaaS' filings with
the SEC.
For investor and media inquiries, please contact:
Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com
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SOURCE NaaS Technology Inc.
