Beijing, China – NaaS Technology, Inc. (NASDAQ: NAAS) recently held its Q4 2023 Earnings Conference Call, showcasing impressive growth and profitability. The call featured key company executives, including Director of Investor Relations John Wang, CEO Cathy Wang Yang, Chief Strategy Officer Wu Ye, and CFO Alex Wu. The discussion highlighted the company’s successful performance in 2023, with significant revenue growth and improved profitability across various business segments.

Ms. Wang provided insights into the company’s strategic initiatives that led to a substantial increase in revenue and a 14-fold growth in gross profit. The focus on expanding the charging network, increasing charging volume, and enhancing profitability in Mobility Connectivity Services resulted in positive trends in non-IFRS net margin and gross profit margin. The company also saw a shift towards becoming a comprehensive energy solution provider, with revenue from energy solutions accounting for over 58% of total revenues in 2023.

Mr. Wu highlighted the company’s AI-driven approach, emphasizing its impact on optimizing network performance, predicting maintenance needs, and understanding usage patterns. Through strategic partnerships with EV OEMs like Deepal, GAC, and Great Wall, NaaS aims to enhance user services, integrate charging services into infotainment systems, and expand into European and Southeast Asian markets.

Furthermore, the company’s energy solution business showed strong growth year-over-year, with a focus on project-based operations that exhibit seasonal fluctuations but demonstrate significant potential for future profitability. The company’s core analytical capabilities and diverse partnerships position it well for global expansion and continued success in the new energy sector.

Overall, NaaS’s outlook for 2024 includes a focus on margin improvements, profitability, and sustained growth in key business metrics like NTR and GTR. The company’s innovative approach, strategic partnerships, and commitment to technological advancements set the stage for continued success in the evolving EV charging industry.