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NaaS debuts on Nasdaq

chinadaily.com.cn| Updated: June 30, 2022 L M S


NaaS Technology Inc, a subsidiary of Newlink Group, makes its initial public offering on Nasdaqon June 13. [Photo/WeChat account: huzhoufabu]

NaaS Technology Inc, a subsidiary of Newlink Group, made its initial public offering on Nasdaq on June 13, becoming the first company from Huzhou in East China's Zhejiang to go public on the American bourse.

It is also China's first pure play electric vehicle charging service company to get listed.

Headquartered in Huzhou's Anji county, NaaS is one of China's largest and fastest growing new energy service companies. The company's digital solutions connect both upstream and downstream players, providing charger manufacturers, station operators, EV OEMs, and other industry participants with one-stop solutions.

As of the end of last year, NaaS had a business presence in 288 Chinese cities, with 290,000 charging piles, of which over 200,000 were of the fast-charging type, accounting for 51 percent of all of China's public fast-charging piles.

In 2021, the amount of the electricity used via the company's piles reached 1,233 GWh, accounting for 18 percent of China's public charging volume.

"This is a gift from today but also a test for tomorrow. We hope that NaaS' presence will make energy smarter, the earth greener, and the skies bluer. Carbon neutral energy is what we aspire to achieve. We will continue to strive to achieve this goal," said Yang Wang, NaaS' founder and CEO.

Yang Weidong, Party chief of Anji, said that NaaS has a set a good example for the new energy sector and will inject new vitality to the county's green development.