Naas Technology Inc ADR logo

Naas Technology Inc ADR(NAAS)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$3.26
09/25/2026
(24-hour delay)

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*as per simulation (see disclosures)
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Upturn Advisory & Investor View for NAAS

09/25/2026: NAAS (1-star) is currently NOT-A-BUY. Pass it for now.

Naas Technology Inc. is a Chinese digital aggregator of electric vehicle charging infrastructure, operating an asset-light platform that connects drivers to a vast network of charging stations. The company benefits from the rapid growth of the EV market in China, leveraging its software solutions to improve station utilization and user convenience. Its primary investment story hinges on its ability to scale its platform and diversify into energy grid management. However, significant risks include intense competition from state-owned energy giants, regulatory uncertainty, and a lack of sustained profitability. This stock is best suited for growth-oriented investors with a high risk tolerance who are looking for exposure to the EV infrastructure sector.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company operates in a high-growth sector but carries significant operational and execution risks.
Momentum investorMixed fitThe stock can experience significant momentum, but it requires a positive technical upturn signal.
Value investorWeak fitThe company is not currently valued based on traditional value metrics due to lack of sustained profitability.
Dividend investorWeak fitNo dividend is currently offered or expected.
Low-risk investorWeak fitHigh volatility and sensitivity to regulatory and sector-specific risks make this a poor fit.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is subject to sharp price fluctuations typical of small-cap growth ADRs.
Valuation riskHighValuations are often based on future growth potential rather than current earnings.
Competition risk (Infrastructure providers)HighIntense competition from well-funded state-owned players limits pricing power.
Business qualityMediumThe asset-light model is scalable but vulnerable to platform dependency.
Dividend incomeLow / noneInvestors should not expect income from this investment.
Execution riskMedium / highSuccess depends on the company's ability to maintain a competitive digital edge in a changing market.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -8.63%
Avg. Invested days 36
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
NAAS receives a 3-star rating, supported by available scored pillars. The rating is constrained by soft unit economics, soft company fundamentals, and weak price momentum.

Company Fundamentals

★★★★★
NAAS has soft overall fundamentals (2 stars), with soft financial health, moderate growth momentum, and soft ownership. In FY2025 versus FY2024, strong earnings growth (+51.9%) is partially offset by soft cash generation (FCF margin -25.1%), negative revenue growth (-37.7%), soft profitability (net margin -350.8%).

Financial Health Rating

★★★★★
NAAS's financial health is supported by moderate efficiency, including operating-expense and cost-of-revenue discipline (opex 238.3% of revenue). Cash strength is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is NAAS's strongest growth driver at +82.5% FY2025 versus FY2024 (strong, 5 stars). By comparison, earnings growth (+51.9%, strong) is also strong, while revenue growth (-37.7%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 0.1% and approximately 24.5% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership is only 0.45%, which materially reduces the ownership score.

Top 5 Institutional Investors

Citadel Advisors Llc 0.05%
Susquehanna International Group, LLP 0.04%
Morgan Stanley - Brokerage Accounts 0.01%
UBS Group AG 0.00%
Rhumbline Advisers 0.00%

Unit Economics (Per $1K Revenue)

★★★★★
NAAS generates approximately $859 of gross profit, $-1,524 of operating income, and $-251 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong margins, cash conversion, and capital efficiency support the rating.

Economic Dimensions

★★★★★
Effective Tax Rate: 4.50%

Quantitative Style Profile

★★★★★
NAAS has a Value-Oriented profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedHigh VolatilitySmall / Mid Cap Risk

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 57.48M USD
Price to earnings Ratio -
1Y Target Price 96
Price to earnings Ratio -
1Y Target Price 96
Volume (30-day avg) 17.4K shares
Beta 1.54
52 Weeks Range 1.80 - 4.36
Updated Date 09/25/2026
52 Weeks Range 1.80 - 4.36
Updated Date 09/25/2026
Dividends yield (FY) -
Basic EPS (TTM) -26.86

How Company Makes Money

Business areaWhat it includesRetail investor read
Charging Service FeesCommissions and fees from charging transactions.The company gets a small cut every time an EV uses their platform to charge.
SaaS SolutionsSoftware subscription fees from station operators.Revenue from providing the digital tools that run the charging stations.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 132.40M
Price to Sales(TTM) 0.55
Enterprise Value 132.40M
Price to Sales(TTM) 0.55
Enterprise Value to Revenue 8.53
Enterprise Value to EBITDA -0.4
Shares Outstanding 16.64M
Shares Floating 4.08M
Shares Outstanding 16.64M
Shares Floating 4.08M
Percent Insiders 0.45
Percent Institutions 0.08

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Naas Technology Inc ADR

Exchange NASDAQ
Headquarters -
IPO Launch date 2017-10-20
CEO & Director Ms. Yang Wang
Sector Consumer Cyclical
Industry Specialty Retail
Full time employees 181
Full time employees 181

NaaS Technology Inc. provides electric vehicle (EV) charging services in China. It offers online EV charging solutions to charging stations, including mobility connectivity services through Kuaidian; SaaS products, such as traffic support and management, marketing, payment, chargers management, order management, load management, and membership management; and operates full station. The company also provides energy solutions comprising site selection; hardware procurement; engineering, procurement, and construction for charging stations. In addition, it integrates smart photovoltaics energy storage and power charging for station upgrade, as well as offline operational and management services. Further, the company is involved in providing electricity procurement services to charging stations; cloud-based virtual power plant platform to facilitate the establishment of a modern energy system for charging stations. Additionally, it offers other amenities and ancillary services, such as vending machines, massage chairs, and car wash tunnels, as well as design and decoration, furniture, ands fixture procurement. The company is headquartered in Beijing, China.