Bain-Backed Chinese EV Services Firm NewLink Seeks Private Loan [BNN Bloomberg (Canada)]
NaaS Technology Inc. - American Depositary Shares (NAAS)
Company Research
Source: BNN Bloomberg
The company is parent to NaaS Technology Inc., a US-listed Chinese EV charging services provider. The funding would go to renting parking spaces for EV charging stations in China and Hong Kong, said the person, who requested anonymity discussing private matters. China's EV market remains a bright spot in an economy that's facing pressure from a real estate crisis, even as the sector grapples with less robust demand for electric cars and intense price wars. The government has set out long-term targets and promotes EVs through supply mandates and incentives. EV sales jumped 34% to 1.8 million in the first quarter, according to the China Passenger Car Association. Parking lot rentals will enable NewLink to test their EV-related software, the person said. Pilot projects have begun in Yunnan and another Chinese province, the person said, adding that discussions on the matter are still on-going. NewLink remains on the “lookout for suitable financing opportunities as there are huge bu
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News
- NaaS Technology Inc. Announces Completion of ADS Ratio Change [Yahoo! Finance]Yahoo! Finance
- NaaS Technology Inc. Announces Completion of ADS Ratio ChangePR Newswire
- NaaS Technology Inc. Announces Updated Effective Date of ADS Ratio ChangePR Newswire
- China's Luckin Coffee Is Back From the Brink and Beating Starbucks [BNN Bloomberg (Canada)]BNN Bloomberg
- NaaS Technology Inc. Announces Plan to Implement ADS Ratio Change [Yahoo! Finance]Yahoo! Finance
NAAS
Sec Filings
- 6/13/24 - Form 6-K
- 6/7/24 - Form 6-K
- 6/6/24 - Form 424B3
- NAAS's page on the SEC website