Naas Technology Inc
NASDAQ:NAAS
Naas Technology Inc
Naas Technology Inc is a CN-based company operating in Diversified Consumer Services industry. The company is headquartered in Beijing, Beijing. The company went IPO on 2017-10-20. Naas Technology Inc, formerly RISE Education Cayman Ltd, is a holding company. The Company, through its subsidiaries, offers after-school English teaching and tutoring services to students aged three to 18. The firm operates in China’s junior English Language Training (ELT) market. Its offers three flagship courses, including Rise Start, Rise On and Rise Up, that are designed for students aged three to six, seven to twelve and 13 to 18, respectively. In addition to its flagship courses, the Company also offers short-term programs to its existing students as complementary services to its flagship courses.
Naas Technology Inc is a CN-based company operating in Diversified Consumer Services industry. The company is headquartered in Beijing, Beijing. The company went IPO on 2017-10-20. Naas Technology Inc, formerly RISE Education Cayman Ltd, is a holding company. The Company, through its subsidiaries, offers after-school English teaching and tutoring services to students aged three to 18. The firm operates in China’s junior English Language Training (ELT) market. Its offers three flagship courses, including Rise Start, Rise On and Rise Up, that are designed for students aged three to six, seven to twelve and 13 to 18, respectively. In addition to its flagship courses, the Company also offers short-term programs to its existing students as complementary services to its flagship courses.
First Profit: NaaS reported its first-ever positive non-IFRS net profit of RMB 20.6 million in Q3, following operational breakeven in June.
Revenue Growth: Core charging services revenue grew 36% year-over-year to RMB 42.4 million.
Record Gross Margin: Gross margin reached an all-time high of 57%, up from 29% a year ago and 38% last quarter.
Cost Control: Sales expenses dropped 81% year-over-year and 41.7% quarter-over-quarter, driving a 44% reduction in operational losses versus Q2.
Scaling User Base: Transaction users increased by 34% year-over-year, and the number of connected chargers jumped 49%.
Strategic Focus: The company has exited lower-margin businesses, like Energy Solutions, to concentrate on its core, higher-margin charging platform.
AI & Partnerships: NaaS is leveraging AI tools and expanding partnerships to optimize operations and accelerate network growth, including a major new deal in Fujian province.
Positive Outlook: Management signaled confidence in sustaining profitability, citing ongoing cost efficiency and scaling opportunities.
