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NaaS Technology
(NASDAQ:NAAS)
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Rating:52Neutral
Price Target:
$3.00
▼(-7.69% Downside)
Action:Reiterated
Date:07/08/26
The score is held down primarily by weak financial performance—shrinking revenue, persistent large losses, negative equity, and ongoing cash burn—despite some improvement in loss and cash outflow trends. Technicals are a partial offset with the stock above key moving averages and a positive MACD, though RSI is elevated (stretched momentum). Valuation appears low on P/E, but it is not enough to overcome the fundamental balance-sheet and cash-flow risks.
Positive Factors
First-Half Profitability Turnaround
The first-half 2026 swing to operating and net profit shows that cost discipline and portfolio optimization can materially improve earnings even while revenue declines. If sustained, this sharper expense control could strengthen operating leverage and improve the company’s ability to fund its EV strategy.
Negative Factors
Sustained Revenue Contraction
Revenue contraction across multiple reporting periods indicates weakening demand or scale in the current business, rather than a single temporary setback. A shrinking top line makes it harder to absorb fixed costs, limits operating leverage, and raises the burden on cost reductions to deliver durable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
First-Half Profitability Turnaround
The first-half 2026 swing to operating and net profit shows that cost discipline and portfolio optimization can materially improve earnings even while revenue declines. If sustained, this sharper expense control could strengthen operating leverage and improve the company’s ability to fund its EV strategy.
Read all positive factors
NaaS Technology (NAAS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$74.38M
Dividend YieldN/A
Average Volume (3M)19.50K
Price to Earnings (P/E)<0.1
Beta (1Y)0.25
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees181
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)N/A
Shares Outstanding24,149,260
10 Day Avg. Volume19,072
30 Day Avg. Volume19,504
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-0.09
Price to Sales (P/S)0.57
P/FCF Ratio-2.29
Enterprise Value/Market Cap7.12
Enterprise Value/Revenue5.09
Enterprise Value/Gross Profit6.47
Enterprise Value/Ebitda-5.48
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NaaS Technology Business Overview & Revenue Model
Company Description
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 char...
How the Company Makes Money
NAAS generates revenue primarily from EV charging-related services and solutions. Specific details on its revenue model (e.g., a breakdown of key revenue streams such as charging service fees, software/network service fees, equipment sales, energy...
NaaS Technology Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 104.00M | 125.14M | 200.98M | 320.08M | 92.81M | 33.45M |
| Gross Profit | 81.82M | 107.52M | 88.54M | 88.76M | 6.17M | 3.87M |
| EBITDA | -96.65M | -386.96M | -873.31M | -1.06B | -547.41M | -247.47M |
| Net Income | -488.92M | -438.95M | -913.48M | -1.31B | -5.64B | -260.46M |
Balance Sheet | ||||||
| Total Assets | 292.73M | 451.22M | 650.64M | 1.47B | 1.11B | 178.09M |
| Cash, Cash Equivalents and Short-Term Investments | 77.23M | 81.21M | 135.79M | 534.30M | 513.35M | 8.49M |
| Total Debt | 573.50M | 607.74M | 1.07B | 1.04B | 519.34M | 19.63M |
| Total Liabilities | 1.18B | 1.21B | 1.40B | 1.51B | 667.06M | 148.65M |
| Stockholders Equity | -935.32M | -796.13M | -754.46M | -47.04M | 438.87M | 29.44M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -31.41M | -179.14M | -571.57M | -597.83M | -219.72M |
| Operating Cash Flow | 0.00 | -31.41M | -179.14M | -565.24M | -580.70M | -219.11M |
| Investing Cash Flow | 0.00 | 11.80M | -201.67M | -339.61M | -161.34M | -5.61M |
| Financing Cash Flow | 0.00 | -23.66M | 71.27M | 827.74M | 1.25B | 229.54M |
NaaS Technology Technical Analysis
Negative
3.25
Price Trends
3.25
Negative
2.98
Positive
2.94
Positive
Market Momentum
-0.05
Positive
40.01
Neutral
11.23
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NAAS, the sentiment is Negative. The current price of 3.25 is below the 20-day moving average (MA) of 3.27, below the 50-day MA of 3.25, and above the 200-day MA of 2.94, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 40.01 is Neutral, neither overbought nor oversold. The STOCH value of 11.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NAAS.
NaaS Technology Risk Analysis
NaaS Technology disclosed 67 risk factors in its most recent earnings report. NaaS Technology reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NaaS Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $6.44B | 42.40 | 16.70% | ― | 31.40% | ― | |
62 Neutral | $7.02B | 36.09 | -17.67% | ― | 0.73% | 44.07% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $58.25M | 3.27 | -231.46% | ― | 2.99% | 214.73% | |
56 Neutral | $170.08M | -8.09 | -3.70% | ― | 11.59% | 25.34% | |
52 Neutral | $74.38M | 0.01 | 52.31% | ― | ― | ― | |
46 Neutral | $321.32M | 34.30 | 5.52% | ― | ― | ― |
* Consumer Cyclical Sector Average
NAAS
NaaS Technology
3.03
0.22
7.76%
NEGG
Newegg Commerce
15.32
-23.79
-60.83%
LITB
LightInTheBox
3.22
1.24
62.63%
ETSY
Etsy
76.51
18.31
31.46%
BZUN
Baozun
2.87
-1.05
-26.79%
GLBE
Global-e Online
38.37
2.05
5.64%
NaaS Technology Corporate Events
NaaS Technology Raises US$25 Million in August 2026 Private Placement, Cementing Newlink’s Control
Aug 31, 2026
On August 28, 2026, NaaS Technology Inc. entered into a Securities Purchase Agreement with a group of purchasers for a private placement of 24,024,022,400 Class A ordinary shares, corresponding to 7,507,507 ADSs, plus warrants for up to an additio...
NaaS Technology Swings to First-Half 2026 Profit Despite Revenue Decline
Aug 14, 2026
NaaS Technology has reported unaudited financial results for the six months ended June 30, 2026, showing total revenues of RMB45.5 million (US$6.7 million), down from RMB66.6 million a year earlier, mainly due to lower charging services income. De...
NaaS Technology Regains Nasdaq Compliance on Market Value Requirement
Aug 5, 2026
On August 4, 2026, NaaS Technology Inc. received notice from Nasdaq that it had regained compliance with the exchange’s minimum market value of listed securities requirement for continued listing on the Nasdaq Capital Market. The decision fo...
NaaS Technology Reshapes Audit Committee Leadership on July 29, 2026
Jul 29, 2026
NaaS Technology Inc. announced a leadership change in its audit committee, reflecting adjustments to corporate governance while maintaining continuity in oversight. The company reported the change in a Form 6-K filed for July 2026, underscoring it...
NaaS Technology Completes Acquisition of China Newlink Holding, Boosting Parent’s Control
Jul 22, 2026
NaaS Technology Inc. has strengthened its position within the Newlinks group by completing, on July 22, 2026, the previously announced share acquisition of China Newlink Holding Limited from Newlink Digital Energy Holding Limited. The deal makes C...
NaaS Technology Hit With Arbitration Award Over Terminated Charge Amps Deal
Jul 18, 2026
On July 14, 2026, an arbitral tribunal under the SCC Arbitration Institute issued a final award against Fleetin AB, a Swedish subsidiary of NaaS Technology Inc., and NaaS itself in a dispute with four sellers of Charge Amps AB. The case stemmed fr...
NaaS Technology Signs US$15 Million Related-Party EV Data Acquisition Deal
Jul 9, 2026
On July 9, 2026, NaaS Technology Inc. signed a definitive Share Acquisition Agreement to buy 100% of China Newlink Holding Limited from affiliate Newlink Digital Energy Holding for US$15 million in stock. The target will own a proprietary EV and e...
NaaS Technology Signs Non-Binding Term Sheet for US$15 Million Related-Party Acquisition
Jun 29, 2026
On June 29, 2026, NaaS Technology Inc. entered into a non-binding term sheet to acquire 100% of China Newlink Holding Limited from affiliate Newlink Digital Energy Holding Limited in a related-party transaction. The deal would be paid entirely in ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.