NaaS Technology Inc.: Overcoming Challenges in the EV Charging Service Industry and Regaining Nasdaq Compliance

NaaS Technology Inc. (Nasdaq: NaaS) has announced that it has regained compliance with the Nasdaq Listing Rule 5550(a)(2) (Minimum Bid Price Requirement) after receiving a Compliance Notice from the Nasdaq Stock Market Inc. The notice was dated June 28, 2024, and marks an important milestone for the first U.S. listed EV charging service company in China.

Earlier in June, the company had received a Deficiency Notice from Nasdaq stating that the closing bid price for its American depositary shares (ADSs) had fallen below the minimum bid price of $1.00 for 30 consecutive business days, as required by the Nasdaq Listing Rule 5550(a)(2). However, NaaS Technology Inc. is now pleased to report that the closing bid price of its ADSs has been at $1.00 per ADS or greater for ten consecutive business days from June 13 through June 27, 2024, allowing it to regain compliance with Nasdaq’s listing rules.

NaaS Technology Inc., a subsidiary of Newlinks Technology Limited, provides comprehensive solutions to energy asset owners in China and beyond. As one of the leading energy digitalization groups in China and a pioneer in the EV charging service industry, NaaS Technology Inc.’s offerings include charging services, energy solutions and new initiatives that support energy asset lifecycle management and facilitate energy transition.

Investors and media interested in learning more about NaaS Technology Inc.’s growth and achievements can contact the company via email at ir@enaas.com for investor relations or pr@enaas.com for media inquiries. This announcement represents an important step forward for NaaS Technology Inc., as it continues to grow and thrive within the rapidly expanding EV charging service industry.

In conclusion, NaaS Technology Inc.’s receipt of a Compliance Notice from Nasdaq signifies an important milestone as they have regained compliance with Listing Rule 5550(a)(2). This achievement is a testament to their commitment to providing comprehensive solutions to energy asset owners while continuing their growth within