NaaS Technology Inc. has regained compliance with Nasdaq minimum market value of listed securities requirement. Regaining Nasdaq compliance reduces delisting risk and may stabilize trading and investor sentiment.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 75.25 | 18.60 | 11.79 | 11.39 |
| Receivables | 10.30 | 6.10 | 3.11 | 2.69 |
| Inventory | 3.16 | — | 0.00 | — |
| Other | 10.94 | — | — | — |
| 161.12 | 60.21 | 30.61 | 31.32 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 21.42 | 14.28 | 33.01 | 35.44 |
| ST’ Debt | 48.68 | 138.99 | 71.75 | 76.50 |
| Other | — | — | 3.15 | — |
| 115.08 | 185.01 | 160.61 | 166.34 |
| 10y | 5y | 3y | |
| Sales | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | — | ‡‡‡ | ‡‡‡ |
| Earnings | — | ‡‡‡ | ‡‡‡ |
| Book Value | — | ‡‡‡ | ‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | — | — | — | — |
17.89
|
| ’24 | 13.33 | 12.62 | 6.33 | (4.74) |
27.53
|
| ’23 | 5.27 | 6.70 | 23.43 | 9.68 |
45.08
|
| ’22 | — | 1.58 | 3.92 | 4.14 |
13.46
|
| ’21 | 39.92 | 39.75 | — | — |
5.19
|
| ’20 | 15.39 | 23.35 | 47.14 | 61.01 |
146.89
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | — | — | — | — |
0.07
|
| ’24 | — | (25.75) | — | (24.54) |
(24.54)
|
| ’23 | — | (13.81) | — | (79.61) |
(79.61)
|
| ’22 | — | — | — | — |
(84.19)
|
| ’21 | — | — | — | — |
(84.70)
|
| ’20 | — | — | — | (31.53) |
(31.53)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | — | — | — | — |
0.07
|
| ’24 | — | (25.75) | — | (98.70) |
(98.70)
|
| ’23 | — | (14.07) | — | (80.51) |
(80.51)
|
| ’22 | — | — | — | — |
(86.68)
|
| ’21 | — | — | — | — |
(84.70)
|
| ’20 | — | — | — | (37.18) |
(37.18)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | (41.60) | (22.88) | (1.28) | — |
(20.63)
|
| ’23 | (22.40) | (67.20) | (70.40) | (92.80) |
(259.20)
|
| ’22 | — | (124.80) | (0.07) | (0.08) |
(1.31k)
|
| ’21 | (112.00) | (224.00) | — | — |
(1.09k)
|
| ’20 | (416.00) | (240.00) | 112.00 | 0.00 |
(576.00)
|
| ’19 | 144.00 | 80.00 | 160.00 | 208.00 |
592.00
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 665.60 | 473.60 | 22.72 | 1.96 | — | — | — |
Low Price
|
| — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,184.00 | 4,089.60 | 643.20 | 40.32 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | — | 311 | 611 | 225 | 181 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 0.04 | 0.07 | 0.12 | 0.10 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.46 | 45.08 | 27.53 | 17.89 | — | — | — |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.64% | 27.73% | 44.06% | 85.92% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (815.91) | (183.57) | (127.02) | (60.79) | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6,063.10%) | (407.20%) | (461.34%) | (339.72%) | — | — | — |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (815.91) | (183.57) | (127.02) | (64.34) | — | — | — |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.05 | 2.40 | 2.17 | 0.80 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.34 | 63.84 | 33.50 | 5.88 | — | — | — |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,308.80) | (259.20) | (145.10) | (20.63) | — | — | — |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (139.76) | (112.73) | (29.86) | 0.02 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | (4.12) | (1.26) | (90.22) | 0.00 | — | — | — |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (143.88) | (114.00) | (120.08) | 0.02 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 105.63 | (8.70) | (125.69) | (41.96) | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.60 | 0.71 | 0.82 | 3.04 | — | — | — |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
PE Ratio
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,026.77 | 7.22 | 0.96 | 0.10 | — | — | — |
PS Ratio
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,497.57 | 0.00 | 0.00 | 0.00 | — | — | — |
PB Ratio
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,026.79 | 8.76 | 5.58 | 4.00 | — | — | — |
EV/Sales
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13,287.63 | (2.67) | (0.67) | (0.48) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (84.19) | (79.61) | (24.54) | 0.07 | — | — | — |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.48) | (0.89) | (74.16) | — | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (86.68) | (80.51) | (98.70) | 0.07 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 107.09 | 46.05 | (124.79) | (130.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 72.95 | 144.71 | 145.98 | 83.33 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.48) | 69.46 | 127.38 | 71.54 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 63.63 | (6.14) | (103.32) | (127.65) | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (989.78%) | (100.40%) | (84.70%) | (93.80%) | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (358.74%) | (148.25%) | (180.09%) | 0.00% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3,292.95%) | (640.39%) | 228.67% | 54.35% | — | — | — |
ROE
|
NaaS Technology Inc. (NAAS), a key player in China’s booming EV charging sector, has endured a wild ride: explosive revenue growth to $220 million in 2019 fueled by government subsidies, followed by sharp declines from COVID lockdowns, a dilutive 2021 SPAC merger, and massive losses peaking at $816 million in 2022. Despite the turmoil, 2024 hints at a turnaround with gross margins rebounding to 44%, revenue per employee soaring to $122,373 after drastic headcount cuts, and a leaner operation amid China’s EV sales topping 40% of new cars.
Yet challenges persist—revenue dipped 39% to $27 million last year, cash flows remain negative with heavy capex, debt has doubled, and shareholder equity flipped negative, dragging the stock down over 99% from peaks to penny-stock territory. No insider buying adds caution, while erratic valuations underscore a growth-at-all-costs past now clashing with profitability demands in a capital-intensive industry.
Analysts are strikingly uniform in their optimism, flashing identical price targets implying over 56,000% upside from current lows, betting on revenue surges from China’s 20 million annual EV target, partnerships like Sinopec, and FCF inflection by 2025. It’s a high-risk contrarian play in the EV infrastructure gold rush—fundamentals scream caution, but rebound glimmers and macro tailwinds could spark a phoenix rise. Dive into the full analysis for the numbers and forecasts.
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