NaaS Technology Inc. (Nasdaq: NaaS) has announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) (Minimum Bid Price Requirement). This is a significant milestone for the first U.S. listed EV charging service company in China, which had previously received a Deficiency Notice from Nasdaq in early June stating that its closing bid price had fallen below the minimum bid price of $1.00 for 30 consecutive business days.
However, as of June 28, 2024, the company’s closing bid price of its American depositary shares (ADSs) has been at or above $1.00 per ADS for ten consecutive business days from June 13 through June 27, allowing it to regain compliance with Nasdaq’s listing rules.
NaaS Technology Inc. is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. As the first U.S. listed EV charging service company in China, NaaS provides comprehensive solutions to energy asset owners, including charging services, energy solutions, and new initiatives that support energy asset lifecycle management and facilitate energy transition.
Investors and media can contact NaaS Technology Inc.’s investor relations team at ir@enaas.com and its media relations team at pr@enaas.com for further information on this important step forward for the company as it continues to grow and thrive in the EV charging service industry.