Earnings ·
NaaS Technology Inc. reported its first-ever operating profit of RMB28.9 million (US$4.3 million) for the six months…
NAASNaaS Technology Inc.
NaaS Technology Inc. reported its first-ever operating profit of RMB28.9 million (US$4.3 million) for the six months ended June 30, 2026, compared to an operating loss of RMB39.1 million in the prior year period. Total revenues declined 32% to RMB45.5 million (US$6.7 million), driven by a strategic shift toward an asset-light platform model that prioritized profitability over transaction volume. Net profit was RMB19.8 million (US$2.9 million), down from RMB65.4 million in the prior year, primarily due to the absence of a one-time fair value gain recognized previously. Operating expenses decreased 82% to RMB19.1 million as the company rationalized its cost base following its strategic transformation. Subsequent to the reporting period, NaaS completed the acquisition of China Newlink Holding Limited in July 2026 to expand its EV and energy data portfolio. Additionally, an SCC arbitral tribunal issued a final award holding NaaS liable for damages related to the terminated Charge Amps acquisition, though management believes existing provisions cover the exposure. The company operates in the electric vehicle charging services and energy solutions industry.