NaaS Technology (NAAS) Enhances Supply-Side Infrastructure

NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced that as of September 30, 2024, the Company has connected approximately 1.15 million chargers to its charging network, a 30% increase compared to the end of 2023, outpacing the national average growth rate of 22%^[1] within the same period.

Ms. Yang Wang, Chief Executive Officer of NaaS, commented, "The robust growth in our charger connections underscores our dedication to enhancing China's supply-side infrastructure and providing efficient, accessible EV charging solutions nationwide. Furthermore, our cutting-edge, AI-powered technologies and NaaS Energy Fintech system are boosting partner profits, increasing operational efficiency, and enabling predictive maintenance and strategic site selection services, revolutionizing the supply-side value chain. Taken together, these efforts ensure sustainable supply-side growth and a superior charging experience for EV users, cementing our leadership in this rapidly expanding market."

Mr. Steven Sim, Chief Financial Officer of NaaS, added, "Our strategic supply-side expansion reflects our technological prowess and methodical approach to improving the entire EV charging ecosystem. By harnessing digital and AI innovations, we're boosting efficiency and driving profitability for charging operators while increasing access and convenience for users, creating long-term value for our stakeholders."

NaaS will continue to invest in its supply-side capabilities and technological advancements, solidifying its position as a key player in developing an interconnected EV charging network across China. Through numerous and expanding strategic partnerships, NaaS remains committed to driving supply and demand growth across the EV charging industry and delivering exceptional value to charging operators and consumers alike.

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