#China #NASDAQ #Beijing #EV Charging #NaaS Technology

NaaS Technology Inc. in Compliance Challenges with Nasdaq

NaaS Technology Inc., recognized as the first U.S.-listed electric vehicle (EV) charging service company in China, has recently come under scrutiny from the Nasdaq Stock Market. On June 13, 2025, the company received a written notification indicating it was not in compliance with the minimum market value listing standards set forth by Nasdaq. The notification, referred to as the MVLS Notice, pointed out that NaaS's current market valuation falls below the required $35 million threshold necessary for continued listing on the Nasdaq Capital Market.

The Notification Details

As specified in the MVLS Notice, Nasdaq calculates compliance based on the company’s total shares outstanding multiplied by the most recent closing bid price. The notification also identified that NaaS has been given a grace period of 180 days, with a deadline set for December 10, 2025, to regain compliance. To satisfy this requirement, NaaS must achieve a market value of at least $35 million for a minimum of ten consecutive business days.

Furthermore, the issue at hand does not result in the immediate delisting of NaaS’s Class A ordinary shares, which continue to be traded on Nasdaq under the symbol “NAAS”. However, the MVLS Notice did indicate that the company also does not currently meet other Nasdaq listing requirements, particularly those demanding a minimum stockholders' equity of $2.5 million and a net income of $500,000 in the past fiscal year.

Company's Response and Outlook

NaaS Technology has expressed its intention to diligently monitor its market value throughout the grace period. The company aims to rectify any deficiencies and comply with the listing standards before the December deadline. Should NaaS succeed in achieving the required market capitalization within this timeframe, Nasdaq will confirm its compliance, thus closing this matter.

In the event that the company fails to meet the compliance requirements by the specified date, it may face further notifications from Nasdaq regarding the potential delisting of its securities. At that point, NaaS could appeal the decision or request additional time to address the deficiencies.

About NaaS Technology Inc.

Founded as a subsidiary of Newlinks Technology Limited, NaaS Technology is marked as a key player in China's EV charging service sector. The company's primary focus rests on enhancing the operation of new energy assets through advanced technologies that connect charging supply with demand. NaaS strives to offer an efficient, seamless, and smart charging experience for EV users while aiding charging stations and operators in optimizing their operations—thus enhancing profitability.

The company’s commitment to technological innovation is pivotal to navigating the challenges facing the rapidly evolving EV industry in China. NaaS aims to adapt to changing market conditions and consumer demands, continually evaluating its business strategies to ensure sustainable growth.

Conclusion

The notification from Nasdaq highlights a critical juncture for NaaS Technology as it grapples with market value concerns impacting its compliance status. Stakeholders and investors will be closely watching to see how the company responds to these challenges in the forthcoming months. As NaaS seeks to stabilize and grow its market presence, its actions in the next 180 days will be crucial for its continued listing on one of the world’s premier stock exchanges.