#China #Beijing #share repurchase #EV Charging #NaaS Technology

NaaS Technology Inc. Announces $10 Million Share Buyback Program

NaaS Technology Inc. (Nasdaq: NAAS), recognized as the first EV charging service company in China to be listed on a U.S. exchange, has made significant strides in the market. On February 21, 2025, the company disclosed a strategic decision that can reshape its financial landscape: the initiation of a $10 million share repurchase program.

Details of the Buyback Initiative

This newly approved share repurchase program will allow NaaS to buyback its American depositary shares (ADSs) over a period of 12 months, concluding in February 2026. The company intends to execute these repurchases periodically on the open market, utilizing prevailing market prices, and may also conduct privately negotiated transactions or block trades, depending on market conditions. This flexibility is particularly advantageous as it allows NaaS to navigate the dynamically changing market environment efficiently.

The Board of Directors, in their commitment to ensuring that the company's financial strategies align with investor interests, will conduct regular reviews of the program. They hold the authority to make adjustments to its structure or size based on performance evaluations and market conditions.

Implications of the Share Buyback

Share repurchase programs are often seen as an indicator of a company's confidence in its growth potential. By lowering the number of outstanding shares in circulation, such initiatives aim to bolster the stock's value and offer enhanced returns to shareholders. The timing of this announcement, geared towards fiscal responsibility, reflects NaaS Technology's intent to instill confidence among its shareholders amid evolving market challenges.

NaaS Technology Inc. operates under the umbrella of Newlinks Technology Limited, a reputable entity in energy digitalization. This backing underscores the robust network and resources available to NaaS, as it seeks to innovate and lead in the EV charging service sector. As the demand for electric vehicles (EVs) continues to rise, the necessity for efficient charging solutions has never been more pressing. NaaS stands as a pivotal player, providing comprehensive solutions across the lifecycle of energy assets, from installation to operational support.

The Future of NaaS Technology

Looking ahead, NaaS Technology Inc. is poised to capitalize on the burgeoning demand for EV charging infrastructure in China. The company’s strategies underscore a commitment to advancing technology that meets the needs of energy asset owners while facilitating a smoother transition towards more sustainable energy practices. From developing innovative charging solutions to enhancing operational efficiencies, NaaS aims to remain at the forefront of the EV service industry.

While this share repurchase program signifies an optimistic future, NaaS acknowledges the uncertainties that accompany forward-looking statements. Factors such as market acceptance of their services, competitive landscape, and regulatory changes will influence their trajectory. Nonetheless, NaaS Technology remains steadfast in its mission to drive innovation and provide unparalleled services to its customers.

In summary, NaaS Technology Inc.'s $10 million share repurchase program not only reinforces its commitment to shareholders but also highlights its strategic focus on growth amidst a transformative period in the electric vehicle sector.