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NaaS Technology (NAAS) AI Stock Analysis
NaaS Technology
(NASDAQ:NAAS)
The overall score is driven primarily by very weak fundamentals—sharp revenue contraction, persistent heavy losses, negative equity, and ongoing cash burn—indicating high financial and solvency risk. Technical indicators add a secondary drag, with the price below key short- and medium-term moving averages and momentum readings in oversold but not decisively recovering territory. Valuation appears extremely low but is not compelling enough to offset the distressed financial profile and lack of dividend support, keeping the stock in a high-risk, low-score range.
NaaS Technology (NAAS) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $2.78M
- Dividend Yield
- ―
- Average Volume (3M)
- 17.85K
- Price to Earnings (P/E)
- 0.0
- Beta (1Y)
- 0.22
- Revenue Growth
- ―
- EPS Growth
- ―
- Country
- US
- Employees
- 181
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Specialty Retail
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 chargin...
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 ma...
NaaS Technology Earnings Call Summary
The earnings call highlighted NaaS's successful strategic shift towards high-margin core charging services, achieving its first positive non-IFRS net profit. Operational efficiency improved significantly with reduced costs and increased user activity. However, the shift away from energy solutions resulted in a decline in that segment's revenue.
Q3-2024 Updates
Positive Updates
Negative Updates
Company Guidance
In the NaaS Third Quarter 2024 Earnings Call, the company announced achieving a positive non-IFRS net profit for the first time, marking a significant milestone. The non-IFRS net profit reached RMB 20.6 million, driven by strategic shifts, cost reductions, and efficiency gains. The core charging services business reported revenues of RMB 42.37 million, with a 36% year-over-year increase. The gross margin improved for the fourth consecutive quarter, reaching a record high of 57%. Operating costs were significantly reduced, with selling and marketing expenses decreasing to 67% of revenue, down from 160% the previous year. The number of users transacting through the NaaS platform increased by 30% year-over-year, contributing to enhanced profitability. Looking ahead, NaaS plans to focus on profitability, scale, and technology, leveraging AI and digitalized charging solutions to strengthen its market position.
NaaS Technology Financial Statement Overview
Summary
Revenue has fallen sharply from $320M in 2023 to $122M in 2025, with ongoing large net losses, negative stockholders’ equity, high debt versus shrinking assets, and consistently negative operating cash flow, indicating a highly distressed financial position despite some improvement in gross margins and cash burn.
Income Statement
12Very NegativeBalance Sheet
8Very NegativeCash Flow
15Very 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 | -1.05B | -538.20M | -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 | -31.41M | -179.14M | -571.57M | -597.83M | -219.72M |
| Operating Cash Flow | 0 | -31.41M | -179.14M | -565.24M | -580.70M | -219.11M |
| Investing Cash Flow | 0 | 11.80M | -201.67M | -339.61M | -161.34M | -5.61M |
| Financing Cash Flow | 0 | -23.66M | 71.27M | 827.74M | 1.25B | 229.54M |
NaaS Technology Technical Analysis
Price Trends
Market Momentum
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 2.35 is below the 20-day moving average (MA) of 2.79, below the 50-day MA of 3.04, and below the 200-day MA of 2.84, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 36.13 is Neutral, neither overbought nor oversold. The STOCH value of 33.39 is Neutral, 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.
Latest Risks Added
1 New RiskNaaS Technology Peers Comparison
Overall Rating
GLBE87Outperform
ETSY67Neutral
BZUN56Neutral
LITB56Neutral
NEGG46Neutral- NAAS44Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GLBE | 87Outperform | $6.95B | 45.75 | 16.70% | ― | 31.40% | ― |
| ETSY | 67Neutral | $7.67B | 8.29 | -91.69% | ― | 0.69% | 521.02% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
| BZUN | 56Neutral | $202.33M | -9.55 | -3.70% | ― | 11.59% | 25.34% |
| LITB | 56Neutral | $39.52M | 2.22 | -231.46% | ― | 2.99% | 214.73% |
| NEGG | 46Neutral | $206.38M | 22.03 | 5.52% | ― | ― | ― |
| NAAS | 44Neutral | $57.72M | 0.01 | 52.31% | ― | ― | ― |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| NAAS | Naas Technology Inc. | 2.35 | -1.09 | -31.69% | |
| NEGG | Newegg Commerce, Inc. | 9.84 | -74.61 | -88.35% | |
| LITB | LightInTheBox | 2.19 | -1.38 | -38.62% | |
| ETSY | Etsy Inc | 88.96 | 27.88 | 45.65% | |
| BZUN | Baozun Inc | 3.27 | -0.05 | -1.51% | |
| GLBE | Global-E Online Ltd. | 41.40 | 4.98 | 13.67% |
NaaS Technology Corporate Events
NaaS Technology Raises US$25 Million in August 2026 Private Placement, Cementing Newlink’s Control
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 additional...
NaaS Technology Swings to First-Half 2026 Profit Despite Revenue Decline
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. Despi...
NaaS Technology Regains Nasdaq Compliance on Market Value Requirement
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 follo...
NaaS Technology Reshapes Audit Committee Leadership on July 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 its c...
NaaS Technology Completes Acquisition of China Newlink Holding, Boosting Parent’s Control
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 Chin...
NaaS Technology Hit With Arbitration Award Over Terminated Charge Amps Deal
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 from...
NaaS Technology Signs US$15 Million Related-Party EV Data Acquisition Deal
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 ener...
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.
Date of analysis: Oct 08, 2026