NaaS Technology Inc Reports Unaudited 2023 Second Quarter and First Half Financial Results.

BEIJING: NaaS Technology Inc. ("NaaS" or the "Company") (Nasdaq: NAAS), the first U.S. listed EV charging service company in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2023.

Second Quarter and First Half 2023 Operational Highlights:

Charging volume transacted through NaaS' network reached 1,228 GWh in the second quarter of 2023 and 2,251 GWh in the first half of 2023, representing an increase of 112% and 112% year over year, respectively.

Gross transaction value transacted through NaaS' network reached RMB1.2 billion (US$160.8 million) in the second quarter of 2023 and RMB2.2 billion (US$297.4 million) in the first half of 2023, representing an increase of 109% and 108% year over year, respectively.

Number of orders transacted through NaaS' network reached 53.8 million in the second quarter of 2023 and 98.2 million in the first half of 2023, representing an increase of 110% and 110% year over year, respectively.

As of June 30, 2023, more than 652,000 chargers in over 62,000 charging stations were connected and accessible on NaaS' network, up by 80% from 362,000 and 59% from 39,000 as of June 30, 2022, respectively.

Second Quarter and First Half 2023 Financial Highlights:

Revenues grew by 121% year over year to RMB48.6 million (US$6.7 million) in the second quarter of 2023 and 132% year over year to RMB84.8 million (US$11.7 million) in the first half of 2023.

Total operating costs and expenses decreased by 82% year over year to RMB388.6 million (US$53.6 million) in the second quarter of 2023 and 76% year over year to RMB538.4 million (US$74.2 million) in the first half of 2023.

Net loss attributable to ordinary shareholders decreased by 94% year over year to RMB334.7 million (US$46.2 million) in the second quarter of 2023 and 92% year over year to RMB444.3 million (US$61.3 million) in the first half of 2023.

Non-IFRS net loss1 attributable to ordinary shareholders increased by 12% year over year to RMB108.0 million (US$14.9 million) in the second quarter of 2023 and 44% year over year to RMB210.3 million (US29.0 million) in the first half of 2023.

1Non-IFRS net loss was arrived at after excluding share-based compensation expenses, equity-settled listing costs, fair value changes of convertible and redeemable preferred shares, and fair value changes of financial assets at fair value through profit or loss. Please refer to the section titled "Unaudited reconciliations of IFRS and non-IFRS results" for details.

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