NaaS Technology Inc. (Nasdaq: NaaS) has regained compliance with the Nasdaq Listing Rule 5550(a)(2) after receiving a Compliance Notice from the Listing Qualifications Department of the Nasdaq Stock Market Inc. The notice informed the company that its closing bid price has been at $1.00 per ADS or greater for ten consecutive business days from June 13 through June 27, 2024. This means that NaaS has met the Minimum Bid Price Requirement and the matter is now closed.
Earlier, the company had received a Deficiency Notice from Nasdaq indicating that the closing bid price for its American depositary shares (ADSs) was below $1.00 for 30 consecutive business days. The Deficiency Notice specified that if the closing bid price reached or exceeded $1.00 for a minimum of ten consecutive business days during the 180-day compliance period, then Nasdaq would confirm compliance and close the matter. This is exactly what happened, leading to the Compliance Notice being issued.
NaaS Technology Inc. is the first U.S. listed EV charging service company in China, operating as a subsidiary of Newlinks Technology Limited. Newlinks is a prominent energy digitalization group in China, and NaaS provides comprehensive solutions to energy asset owners. These solutions include charging services, energy solutions, and new initiatives that support every stage of an energy asset’s lifecycle and help facilitate the energy transition.
For investor and media inquiries, NaaS Technology Inc. can be contacted through their Investor Relations department at ir@enaas.com. Media inquiries can be directed to pr@enaas.com.