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Name | Symbol | Market | Type |
---|---|---|---|
NaaS Technology Inc | NASDAQ:NAAS | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.06 | 1.88% | 3.25 | 3.25 | 3.45 | 3.675 | 3.24 | 3.40 | 148,553 | 00:59:30 |
| | | | | S-1 | | | |
| | | | | S-3 | | | |
| | | | | S-4 | | | |
| | | | | S-23 | | | |
| | | | | S-24 | | | |
| | | | | S-26 | | | |
| | | | | S-27 | | | |
| | | | | S-29 | | | |
| | | | | S-30 | | | |
| | | | | S-33 | | | |
| | | | | S-34 | | | |
| | | | | S-36 | | | |
| | | | | S-42 | | | |
| | | | | S-43 | | | |
| | | | | S-44 | | | |
| | | | | S-45 | | |
| | | | | 1 | | | |
| | | | | 4 | | | |
| | | | | 5 | | | |
| | | | | 16 | | | |
| | | | | 17 | | | |
| | | | | 18 | | | |
| | | | | 19 | | | |
| | | | | 24 | | | |
| | | | | 35 | | | |
| | | | | 48 | | | |
| | | | | 50 | | | |
| | | | | 51 | | | |
| | | | | 52 | | | |
| | | | | 53 | | | |
| | | | | 55 | | | |
| | | | | 56 | | | |
| | | | | 58 | | | |
| | | | | 61 | | | |
| | | | | 62 | | | |
| | | | | 63 | | | |
| | | | | 64 | | | |
| | | | | 65 | | |
(In thousands, except for share and per
share and per ADS data) |
| |
For the Three Months Ended
|
| |
For the Six Months Ended
|
| ||||||||||||||||||||||||||||||
|
June 30,
2023 |
| |
June 30, 2024
|
| |
June 30,
2023 |
| |
June 30, 2024
|
| ||||||||||||||||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |
RMB
|
| |
RMB
|
| |
US$
|
| ||||||||||||||||||
Revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Charging services revenues
|
| | | | 25,949 | | | | | | 44,768 | | | | | | 6,160 | | | | | | 50,010 | | | | | | 92,604 | | | | | | 12,743 | | |
Energy solutions revenues
|
| | | | 21,433 | | | | | | 43,980 | | | | | | 6,052 | | | | | | 32,304 | | | | | | 91,189 | | | | | | 12,548 | | |
New initiatives revenues
|
| | | | 1,233 | | | | | | 2,945 | | | | | | 405 | | | | | | 2,462 | | | | | | 4,137 | | | | | | 569 | | |
Total revenues
|
| | | | 48,615 | | | | | | 91,693 | | | | | | 12,617 | | | | | | 84,776 | | | | | | 187,930 | | | | | | 25,860 | | |
Cost of revenues
|
| | | | (29,505) | | | | | | (61,240) | | | | | | (8,427) | | | | | | (59,552) | | | | | | (133,129) | | | | | | (18,319) | | |
Gross profit
|
| | | | 19,110 | | | | | | 30,453 | | | | | | 4,190 | | | | | | 25,224 | | | | | | 54,801 | | | | | | 7,541 | | |
Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Selling and marketing expenses
|
| | | | (86,096) | | | | | | (51,856) | | | | | | (7,136) | | | | | | (152,486) | | | | | | (123,058) | | | | | | (16,933) | | |
Administrative expenses
|
| | | | (261,808) | | | | | | (61,017) | | | | | | (8,396) | | | | | | (307,304) | | | | | | (184,021) | | | | | | (25,322) | | |
Research and development expenses
|
| | | | (11,181) | | | | | | (11,274) | | | | | | (1,551) | | | | | | (19,013) | | | | | | (32,797) | | | | | | (4,513) | | |
Total operating expenses
|
| | | | (359,085) | | | | | | (124,147) | | | | | | (17,083) | | | | | | (478,803) | | | | | | (339,876) | | | | | | (46,768) | | |
Other gains, net
|
| | | | 6,467 | | | | | | 9,286 | | | | | | 1,278 | | | | | | 6,960 | | | | | | 14,072 | | | | | | 1,936 | | |
Operating loss
|
| | | | (333,508) | | | | | | (84,408) | | | | | | (11,615) | | | | | | (446,619) | | | | | | (271,003) | | | | | | (37,291) | | |
Fair value changes of convertible instruments
|
| | | | — | | | | | | (7) | | | | | | (1) | | | | | | — | | | | | | (7,797) | | | | | | (1,073) | | |
Fair value changes of financial instruments at fair value through profit or loss
|
| | | | 1,560 | | | | | | (52,634) | | | | | | (7,243) | | | | | | 15,131 | | | | | | (65,562) | | | | | | (9,022) | | |
Finance costs
|
| | | | (7,243) | | | | | | (7,450) | | | | | | (1,025) | | | | | | (14,303) | | | | | | (25,182) | | | | | | (3,465) | | |
Loss before income tax
|
| | | | (339,191) | | | | | | (144,499) | | | | | | (19,884) | | | | | | (445,791) | | | | | | (369,544) | | | | | | (50,851) | | |
Income tax benefits
|
| | | | 4,817 | | | | | | 9,056 | | | | | | 1,246 | | | | | | 1,762 | | | | | | 6,369 | | | | | | 876 | | |
Net loss
|
| | | | (334,374) | | | | | | (135,443) | | | | | | (18,638) | | | | | | (444,029) | | | | | | (363,175) | | | | | | (49,975) | | |
Net loss attributable to: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity holders of the Company
|
| | | | (334,665) | | | | | | (135,471) | | | | | | (18,642) | | | | | | (444,320) | | | | | | (362,870) | | | | | | (49,933) | | |
Non-controlling interests
|
| | | | 291 | | | | | | 28 | | | | | | 4 | | | | | | 291 | | | | | | (305) | | | | | | (42) | | |
| | | | | (334,374) | | | | | | (135,443) | | | | | | (18,638) | | | | | | (444,029) | | | | | | (363,175) | | | | | | (49,975) | | |
Basic and diluted loss per share for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per share)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (0.15) | | | | | | (0.05) | | | | | | (0.01) | | | | | | (0.20) | | | | | | (0.14) | | | | | | (0.02) | | |
Diluted
|
| | | | (0.15) | | | | | | (0.05) | | | | | | (0.01) | | | | | | (0.20) | | | | | | (0.14) | | | | | | (0.02) | | |
Basic and diluted loss per ADS for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (30.30) | | | | | | (10.37) | | | | | | (1.43) | | | | | | (40.33) | | | | | | (28.34) | | | | | | (3.90) | | |
Diluted
|
| | | | (30.30) | | | | | | (10.37) | | | | | | (1.43) | | | | | | (40.33) | | | | | | (28.34) | | | | | | (3.90) | | |
Weighted average number of ordinary shares outstanding – basic
|
| | | | 2,209,304,961 | | | | | | 2,612,637,572 | | | | | | 2,612,637,572 | | | | | | 2,203,175,595 | | | | | | 2,560,665,862 | | | | | | 2,560,665,862 | | |
(In thousands, except for share and per
share and per ADS data) |
| |
For the Three Months Ended
|
| |
For the Six Months Ended
|
| ||||||||||||||||||||||||||||||
|
June 30,
2023 |
| |
June 30, 2024
|
| |
June 30,
2023 |
| |
June 30, 2024
|
| ||||||||||||||||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |
RMB
|
| |
RMB
|
| |
US$
|
| ||||||||||||||||||
Weighted average number of ordinary shares outstanding – diluted
|
| | | | 2,209,304,961 | | | | | | 2,612,637,572 | | | | | | 2,612,637,572 | | | | | | 2,203,175,595 | | | | | | 2,560,665,862 | | | | | | 2,560,665,862 | | |
Net loss
|
| | | | (334,374) | | | | | | (135,443) | | | | | | (18,638) | | | | | | (444,029) | | | | | | (363,175) | | | | | | (49,975) | | |
Other comprehensive loss that will not
be reclassified to profit or loss in subsequent period: |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Fair value changes on equity
investment designated at fair value through other comprehensive loss, net of tax |
| | | | 1,737 | | | | | | (3,414) | | | | | | (470) | | | | | | (21,616) | | | | | | (44,090) | | | | | | (6,067) | | |
Currency translation differences
|
| | | | 915 | | | | | | 1,711 | | | | | | 236 | | | | | | (325) | | | | | | 2,263 | | | | | | 311 | | |
Other comprehensive income/(loss), net of tax
|
| | | | 2,652 | | | | | | (1,703) | | | | | | (234) | | | | | | (21,941) | | | | | | (41,827) | | | | | | (5,756) | | |
Total comprehensive loss
|
| | | | (331,722) | | | | | | (137,146) | | | | | | (18,872) | | | | | | (465,970) | | | | | | (405,002) | | | | | | (55,731) | | |
Total comprehensive loss attributable to:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity holders of the
Company |
| | | | (332,013) | | | | | | (137,174) | | | | | | (18,876) | | | | | | (466,261) | | | | | | (404,697) | | | | | | (55,689) | | |
Non-controlling interests
|
| | | | 291 | | | | | | 28 | | | | | | 4 | | | | | | 291 | | | | | | (305) | | | | | | (42) | | |
| | | | | (331,722) | | | | | | (137,146) | | | | | | (18,872) | | | | | | (465,970) | | | | | | (405,002) | | | | | | (55,731) | | |
|
(In thousands)
|
| |
As of
|
| |||||||||||||||
|
December 31,
2023 |
| |
June 30,
2024 |
| ||||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |||||||||
ASSETS | | | | | | | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | | 436,242 | | | | | | 179,599 | | | | | | 24,714 | | |
Trade receivables
|
| | | | 73,144 | | | | | | 144,311 | | | | | | 19,858 | | |
Contract assets
|
| | | | 77,684 | | | | | | 43,087 | | | | | | 5,929 | | |
Financial assets at fair value through profit or loss
|
| | | | 70,164 | | | | | | 8,587 | | | | | | 1,182 | | |
Inventories
|
| | | | 22,458 | | | | | | 19,449 | | | | | | 2,676 | | |
Prepayments, other receivables and other assets
|
| | | | 436,377 | | | | | | 395,102 | | | | | | 54,368 | | |
Other financial assets
|
| | | | 27,898 | | | | | | 240,575 | | | | | | 33,104 | | |
Total current assets
|
| | | | 1,143,967 | | | | | | 1,030,710 | | | | | | 141,831 | | |
Non-current assets | | | | | | | | | | | | | | | | | | | |
Right-of-use assets
|
| | | | 14,026 | | | | | | 10,500 | | | | | | 1,445 | | |
Financial assets at fair value through profit or loss
|
| | | | 34,788 | | | | | | 31,926 | | | | | | 4,393 | | |
Financial assets at fair value through other comprehensive income
|
| | | | 104,970 | | | | | | 174,904 | | | | | | 24,068 | | |
Other financial assets
|
| | | | 100,718 | | | | | | — | | | | | | — | | |
Investments accounted for using equity method
|
| | | | 267 | | | | | | 267 | | | | | | 37 | | |
Property, plant and equipment
|
| | | | 4,378 | | | | | | 3,577 | | | | | | 492 | | |
Intangible assets
|
| | | | 13,320 | | | | | | 11,997 | | | | | | 1,651 | | |
Goodwill
|
| | | | 40,085 | | | | | | 40,371 | | | | | | 5,555 | | |
Other non-current assets
|
| | | | 8,580 | | | | | | 5,482 | | | | | | 754 | | |
Total non-current assets
|
| | | | 321,132 | | | | | | 279,024 | | | | | | 38,395 | | |
Total assets
|
| | | | 1,465,099 | | | | | | 1,309,734 | | | | | | 180,226 | | |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | | | | |
Borrowings
|
| | | | 72,953 | | | | | | 334,817 | | | | | | 46,072 | | |
Current lease liabilities
|
| | | | 7,154 | | | | | | 5,334 | | | | | | 734 | | |
Trade payables
|
| | | | 152,066 | | | | | | 174,103 | | | | | | 23,957 | | |
Income tax payables
|
| | | | 19,170 | | | | | | 12,970 | | | | | | 1,785 | | |
Convertible bonds
|
| | | | 272,684 | | | | | | 251,942 | | | | | | 34,668 | | |
Other payables and accruals
|
| | | | 293,003 | | | | | | 209,891 | | | | | | 28,884 | | |
Total current liabilities
|
| | | | 817,030 | | | | | | 989,057 | | | | | | 136,100 | | |
Non-current liabilities | | | | | | | | | | | | | | | | | | | |
Non-current lease liabilities
|
| | | | 6,936 | | | | | | 4,760 | | | | | | 655 | | |
Borrowings
|
| | | | 681,821 | | | | | | 555,661 | | | | | | 76,461 | | |
Deferred tax liabilities
|
| | | | 2,917 | | | | | | 2,759 | | | | | | 380 | | |
Total non-current liabilities
|
| | | | 691,674 | | | | | | 563,180 | | | | | | 77,496 | | |
Total liabilities
|
| | | | 1,508,704 | | | | | | 1,552,237 | | | | | | 213,596 | | |
EQUITY | | | | | | | | | | | | | | | | | | | |
Share capital
|
| | | | 165,183 | | | | | | 178,549 | | | | | | 24,569 | | |
Subscription receivable
|
| | | | (4,696) | | | | | | (4,696) | | | | | | (646) | | |
Warrant outstanding
|
| | | | — | | | | | | 29,587 | | | | | | 4,071 | | |
Additional paid in capital
|
| | | | 7,196,341 | | | | | | 7,349,692 | | | | | | 1,011,351 | | |
Other reserves
|
| | | | (65,699) | | | | | | (107,526) | | | | | | (14,796) | | |
Accumulated losses
|
| | | | (7,338,168) | | | | | | (7,701,038) | | | | | | (1,059,698) | | |
Non-controlling interests
|
| | | | 3,434 | | | | | | 12,929 | | | | | | 1,779 | | |
Total equity
|
| | | | (43,605) | | | | | | (242,503) | | | | | | (33,370) | | |
Total equity and liabilities
|
| | | | 1,465,099 | | | | | | 1,309,734 | | | | | | 180,226 | | |
| | |
For the Six Months Ended June 30,
|
| |||||||||||||||
(In thousands)
|
| |
2023
|
| |
2024
|
| ||||||||||||
| | |
RMB
|
| |
RMB
|
| |
USD
|
| |||||||||
Cash flows from operating activities | | | | | | | | | | | | | | | | | | | |
Cash used in operations
|
| | | | (101,775) | | | | | | (187,295) | | | | | | (25,773) | | |
Interest received
|
| | | | 1,608 | | | | | | 172 | | | | | | 24 | | |
Net cash used in operating activities
|
| | | | (100,167) | | | | | | (187,123) | | | | | | (25,749) | | |
Cash flows from investing activities | | | | | | | | | | | | | | | | | | | |
Purchase of property, plant and equipment and other non-current assets
|
| | | | (1,874) | | | | | | — | | | | | | — | | |
Investment in financial assets and equity method investees
|
| | | | (118,022) | | | | | | (541,326) | | | | | | (74,489) | | |
Proceeds from disposal of financial assets
|
| | | | 30,461 | | | | | | 329,843 | | | | | | 45,388 | | |
Loan advanced to a related party
|
| | | | (110,000) | | | | | | — | | | | | | — | | |
Net cash paid for the acquisition of a subsidiary
|
| | | | (34,048) | | | | | | — | | | | | | — | | |
Net cash flows used in investing activities
|
| | | | (233,483) | | | | | | (211,483) | | | | | | (29,101) | | |
Cash flows from financing activities | | | | | | | | | | | | | | | | | | | |
Net proceeds from debt and equity financing
|
| | | | 355,970 | | | | | | 222,584 | | | | | | 30,629 | | |
Repayment for borrowings from bank
|
| | | | — | | | | | | (44,296) | | | | | | (6,095) | | |
Interests paid
|
| | | | (14,024) | | | | | | (25,082) | | | | | | (3,452) | | |
Payments for lease liabilities
|
| | | | (4,879) | | | | | | (3,996) | | | | | | (550) | | |
Proceeds from revenue-based financing
|
| | | | — | | | | | | 12,318 | | | | | | 1,695 | | |
Repayments for revenue-based financing
|
| | | | — | | | | | | (22,395) | | | | | | (3,082) | | |
Expense for issuance of ordinary shares
|
| | | | — | | | | | | (6,970) | | | | | | (959) | | |
Capital injection from non-controlling interests
|
| | | | — | | | | | | 9,800 | | | | | | 1,349 | | |
Net cash flows generated from financing activities
|
| | | | 337,067 | | | | | | 141,963 | | | | | | 19,535 | | |
Net increase/(decrease) in cash and cash equivalents
|
| | | | 3,417 | | | | | | (256,643) | | | | | | (35,315) | | |
Cash and cash equivalents at beginning of the period
|
| | | | 513,351 | | | | | | 436,242 | | | | | | 60,029 | | |
Effect of exchange rate changes on cash and cash equivalents
|
| | | | (227) | | | | | | — | | | | | | — | | |
Cash and cash equivalents at end of the period
|
| | | | 516,541 | | | | | | 179,599 | | | | | | 24,714 | | |
(In thousands, except for share and
per share and per ADS data) |
| |
For the Three Months Ended
|
| |
For the Six Months Ended
|
| ||||||||||||||||||||||||||||||
|
June 30, 2023
|
| |
June 30, 2024
|
| |
June 30,
2023 |
| |
June 30, 2024
|
| ||||||||||||||||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |
RMB
|
| |
RMB
|
| |
US$
|
| ||||||||||||||||||
Reconciliation of Non-IFRS net profit/loss attributable to the ordinary shareholders of the Company to Net loss attributable to the ordinary shareholders of the Company
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net loss attributable to the ordinary shareholders of the
Company |
| | |
|
(334,665)
|
| | | |
|
(135,471)
|
| | | |
|
(18,642)
|
| | | |
|
(444,320)
|
| | | |
|
(362,870)
|
| | | |
|
(49,933)
|
| |
Add: Share-based compensation expenses
|
| | | | 228,248 | | | | | | 42,942 | | | | | | 5,909 | | | | | | 249,188 | | | | | | 123,257 | | | | | | 16,961 | | |
Fair value changes of convertible instruments
|
| | | | — | | | | | | 7 | | | | | | 1 | | | | | | — | | | | | | 7,797 | | | | | | 1,073 | | |
Fair value changes of financial
assets at fair value through profit or loss |
| | | | (1,560) | | | | | | 52,634 | | | | | | 7,243 | | | | | | (15,131) | | | | | | 65,562 | | | | | | 9,022 | | |
Non-IFRS net profit/loss attributable to the ordinary shareholders of the Company
|
| | | | (107,977) | | | | | | (39,888) | | | | | | (5,489) | | | | | | (210,263) | | | | | | (166,254) | | | | | | (22,877) | | |
Basic and diluted loss per share for
Non-IFRS net profit/loss attributable to the ordinary shareholders of the Company (Expressed in RMB per share) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (0.05) | | | | | | (0.02) | | | | | | (0.00) | | | | | | (0.10) | | | | | | (0.06) | | | | | | (0.01) | | |
Diluted
|
| | | | (0.05) | | | | | | (0.02) | | | | | | (0.00) | | | | | | (0.10) | | | | | | (0.06) | | | | | | (0.01) | | |
Basic and diluted loss per ADS for
Non-IFRS net profit/loss attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (9.77) | | | | | | (3.05) | | | | | | (0.42) | | | | | | (19.09) | | | | | | (12.99) | | | | | | (1.79) | | |
Diluted
|
| | | | (9.77) | | | | | | (3.05) | | | | | | (0.42) | | | | | | (19.09) | | | | | | (12.99) | | | | | | (1.79) | | |
Weighted average number of ordinary shares outstanding – basic
|
| | | | 2,209,304,961 | | | | | | 2,612,637,572 | | | | | | 2,612,637,572 | | | | | | 2,203,175,595 | | | | | | 2,560,665,862 | | | | | | 2,560,665,862 | | |
Weighted average number of ordinary shares outstanding – diluted
|
| | | | 2,209,304,961 | | | | | | 2,612,637,572 | | | | | | 2,612,637,572 | | | | | | 2,203,175,595 | | | | | | 2,560,665,862 | | | | | | 2,560,665,862 | | |
(In thousands)
|
| |
For the Three Months Ended
|
| |
For the Six Months Ended
|
| ||||||||||||||||||||||||||||||
|
June 30,
2023 |
| |
June 30, 2024
|
| |
June 30,
2023 |
| |
June 30, 2024
|
| ||||||||||||||||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |
RMB
|
| |
RMB
|
| |
US$
|
| ||||||||||||||||||
Cost of revenues
|
| | | | (29,505) | | | | | | (61,240) | | | | | | (8,427) | | | | | | (59,552) | | | | | | (133,129) | | | | | | (18,319) | | |
Share-based compensation expenses
|
| | | | 3,222 | | | | | | 1,576 | | | | | | 217 | | | | | | 3,716 | | | | | | 5,050 | | | | | | 695 | | |
Non-IFRS cost of revenues
|
| | | | (26,283) | | | | | | (59,664) | | | | | | (8,210) | | | | | | (55,836) | | | | | | (128,079) | | | | | | (17,624) | | |
Selling and marketing expenses
|
| | | | (86,096) | | | | | | (51,856) | | | | | | (7,136) | | | | | | (152,486) | | | | | | (123,058) | | | | | | (16,933) | | |
Share-based compensation expenses
|
| | | | 3,369 | | | | | | 12,119 | | | | | | 1,668 | | | | | | 8,257 | | | | | | 24,089 | | | | | | 3,315 | | |
Non-IFRS selling and marketing
expenses |
| | | | (82,727) | | | | | | (39,737) | | | | | | (5,468) | | | | | | (144,229) | | | | | | (98,969) | | | | | | (13,618) | | |
Administrative expenses
|
| | | | (261,808) | | | | | | (61,017) | | | | | | (8,396) | | | | | | (307,304) | | | | | | (184,021) | | | | | | (25,322) | | |
Share-based compensation expenses
|
| | | | 219,821 | | | | | | 25,343 | | | | | | 3,487 | | | | | | 233,489 | | | | | | 85,593 | | | | | | 11,778 | | |
Non-IFRS administrative expenses
|
| | | | (41,987) | | | | | | (35,674) | | | | | | (4,909) | | | | | | (73,815) | | | | | | (98,428) | | | | | | (13,544) | | |
Research and development expenses
|
| | | | (11,181) | | | | | | (11,274) | | | | | | (1,551) | | | | | | (19,013) | | | | | | (32,797) | | | | | | (4,513) | | |
Share-based compensation expenses
|
| | | | 1,836 | | | | | | 3,904 | | | | | | 537 | | | | | | 3,726 | | | | | | 8,525 | | | | | | 1,173 | | |
Non-IFRS research and development expenses
|
| | | | (9,345) | | | | | | (7,370) | | | | | | (1,014) | | | | | | (15,287) | | | | | | (24,272) | | | | | | (3,340) | | |
Operating loss
|
| | | | (333,508) | | | | | | (84,408) | | | | | | (11,615) | | | | | | (446,619) | | | | | | (271,003) | | | | | | (37,291) | | |
Share-based compensation expenses
|
| | | | 228,248 | | | | | | 42,942 | | | | | | 5,909 | | | | | | 249,188 | | | | | | 123,257 | | | | | | 16,961 | | |
Non-IFRS operating loss
|
| | | | (105,260) | | | | | | (41,466) | | | | | | (5,706) | | | | | | (197,431) | | | | | | (147,746) | | | | | | (20,330) | | |
| | |
As of June 30, 2024
|
| |||||||||||||||||||||
| | |
Actual
|
| |
As Adjusted
|
| ||||||||||||||||||
| | |
RMB
|
| |
US$
|
| |
RMB
|
| |
US$
|
| ||||||||||||
Convertible notes
|
| | | | 251,942 | | | | | | 34,668 | | | | | | 251,942 | | | | | | 34,668 | | |
Equity: | | | | | | | | | | | | | | | | | | | | | | | | | |
Class A Ordinary Shares (US$0.01 par value; 700,000,000
shares authorized, 1,055,861,471 shares issued and outstanding as of June 30, 2024, 2,309,779,966 issued and outstanding on an as adjusted basis) |
| | | | 68,173 | | | | | | 9,381 | | | | | | 159,298 | | | | | | 21,920 | | |
Class B Ordinary Shares (US$0.01 par value; 300,000,000
shares authorized, 239,549,562 shares issued and outstanding as of June 30, 2024) |
| | | | 16,674 | | | | | | 2,294 | | | | | | 16,674 | | | | | | 2,294 | | |
Class C Ordinary Shares (US$0.01 par value; 1,400,000,000 shares authorized, 1,347,998,210 shares issued and outstanding as of June 30, 2024)
|
| | | | 93,702 | | | | | | 12,894 | | | | | | 93,702 | | | | | | 12,894 | | |
Subscription receivable
|
| | | | (4,696) | | | | | | (646) | | | | | | (4,696) | | | | | | (646) | | |
Warrant outstanding
|
| | | | 29,587 | | | | | | 4,071 | | | | | | 29,587 | | | | | | 4,071 | | |
Additional paid-in capital
|
| | | | 7,349,692 | | | | | | 1,011,351 | | | | | | 7,395,053 | | | | | | 1,017,593 | | |
Other reserves
|
| | | | (107,526) | | | | | | (14,796) | | | | | | (107,526) | | | | | | (14,796) | | |
Accumulated losses
|
| | | | (7,701,038) | | | | | | (1,059,698) | | | | | | (7,701,038) | | | | | | (1,059,698) | | |
Non-controlling interests
|
| | | | 12,929 | | | | | | 1,779 | | | | | | 12,929 | | | | | | 1,779 | | |
Total equity
|
| | | | (242,503) | | | | | | (33,370) | | | | | | (106,017) | | | | | | (14,589) | | |
Total capitalization(1)
|
| | | | 9,439 | | | | | | 1,298 | | | | | | 145,925 | | | | | | 20,079 | | |
| | |
Net assets/ (net
liabilities) per Ordinary Share |
| |
Net assets / (net
liabilities) per ADS |
|
Assumed offering price
|
| |
US$0.016
|
| |
US$3.19
|
|
Actual net tangible book value as of June 30, 2024
|
| |
(US$0.015)
|
| |
(US$3.07)
|
|
As adjusted net tangible book value as of June 30, 2024, adjusted to give effect to this offering
|
| |
(US$0.006)
|
| |
(US$1.12)
|
|
Amount of dilution in net tangible book value to new investors in this offering
|
| |
US$0.022
|
| |
US$4.31
|
|
| | |
Ordinary Shares
Purchased |
| |
Total Consideration
|
| |
Average
Price Per Ordinary Share |
| |
Average
Price Per ADS |
| ||||||||||||||||||||||||
| | |
Number
|
| |
Percent
|
| |
Amount (in
thousands of US$) |
| |
Percent
|
| |
US$
|
| |
US$
|
| ||||||||||||||||||
Existing shareholders
|
| | | | 2,643,409,243 | | | | | | 68% | | | | | | 1,039,345 | | | | | | 98% | | | | | | 0.39 | | | | | | 78.64 | | |
New investors
|
| | | | 1,253,918,495 | | | | | | 32% | | | | | | 20,000 | | | | | | 2% | | | | | | 0.02 | | | | | | 3.19 | | |
Total
|
| | | | 3,897,327,738 | | | | | | 100% | | | | | | 1,059,345 | | | | | | 100% | | | | | | | | | | | | | | |
Name and Address of Beneficial
Owner |
| |
Class A
Ordinary Shares+ |
| |
Class B
Ordinary Shares+ |
| |
Class C
Ordinary Shares+ |
| |
Percent
Ownership++ |
| |
Percent
Voting Power+++ |
| |
Percent
Voting Power (Upon Full Distribution by NewLink)++++ |
| ||||||||||||||||||
Directors and Executive Officers:**
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Zhen Dai(1)
|
| | | | 33,225,290 | | | | | | 220,872,540 | | | | | | — | | | | | | 9.3% | | | | | | 37.5% | | | | | | 54.3% | | |
Yang Wang(2)
|
| | | | 33,155,870 | | | | | | | | | | | | 34,159,516 | | | | | | 2.5% | | | | | | 1.7% | | | | | | 1.6% | | |
Weilin Sun(3)
|
| | | | 19,616,390 | | | | | | | | | | | | 26,994,264 | | | | | | 1.7% | | | | | | 1.2% | | | | | | 1.1% | | |
Steven Sim
|
| | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | | * | | | | | | * | | |
Guangming Ren
|
| | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | | * | | | | | | * | | |
Xiaoli Liu
|
| | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | | * | | | | | | * | | |
Ye Wu
|
| | | | * | | | | | | — | | | | | | — | | | | | | * | | | | | | * | | | | | | * | | |
All directors and executive officers as a group
|
| | | | 87,415,600 | | | | | | 220,872,540 | | | | | | 61,153,780 | | | | | | 13.4% | | | | | | 40.5% | | | | | | 57.0% | | |
Principal Shareholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Entities affiliated with
Bain(4) |
| | | | 128,304,160 | | | | | | — | | | | | | — | | | | | | 5.0% | | | | | | 2.1% | | | | | | 2.8% | | |
Newlinks Technology Limited(5)
|
| | | | — | | | | | | 220,872,540 | | | | | | 1,246,675,232 | | | | | | 54.2% | | | | | | 79.1% | | | | | | 84.3% | | |
Beijing Zhenwei Qingfeng Economic Management Consulting Partnership (L.P.)(6)
|
| | | | 253,891,329 | | | | | | — | | | | | | — | | | | | | 9.4% | | | | | | 4.3% | | | | | | 6.2% | | |
| | | | | 1 | | | |
| | | | | 4 | | | |
| | | | | 5 | | | |
| | | | | 16 | | | |
| | | | | 17 | | | |
| | | | | 18 | | | |
| | | | | 19 | | | |
| | | | | 24 | | | |
| | | | | 35 | | | |
| | | | | 48 | | | |
| | | | | 50 | | | |
| | | | | 51 | | | |
| | | | | 52 | | | |
| | | | | 53 | | | |
| | | | | 55 | | | |
| | | | | 56 | | | |
| | | | | 58 | | | |
| | | | | 61 | | | |
| | | | | 62 | | | |
| | | | | 63 | | | |
| | | | | 64 | | | |
| | | | | 65 | | |
| | |
As of March 31, 2023
|
| |||||||||
| | |
RMB
|
| |
US$
|
| ||||||
| | |
(in thousands)
|
| |||||||||
Shareholders’ Equity: | | | | | | | | | | | | | |
Class A Ordinary Shares (US$0.01 par value; 700,000,000 shares authorized, 549,430,353 shares issued and outstanding as of March 31, 2023)
|
| | | | 36,354 | | | | | | 5,294 | | |
Class B Ordinary Shares (US$0.01 par value; 300,000,000 shares authorized, 248,888,073 shares issued and outstanding as of March 31, 2023)
|
| | | | 16,674 | | | | | | 2,428 | | |
Class C Ordinary Shares (US$0.01 par value; 1,400,000,000 shares authorized, 1,398,659,699 shares issued and outstanding as of March 31, 2023)
|
| | | | 93,702 | | | | | | 13,644 | | |
Treasury shares
|
| | | | — | | | | | | — | | |
Additional paid-in capital
|
| | | | 6,379,540 | | | | | | 928,933 | | |
Other reserves
|
| | | | (59,794) | | | | | | (8,707) | | |
Accumulated losses
|
| | | | (6,140,910) | | | | | | (894,186) | | |
Total shareholders’ equity
|
| | | | 325,566 | | | | | | 47,406 | | |
| | |
For the Three Months Ended
|
| |||||||||||||||
(In thousands, except for share and per share and per ADS data)
|
| |
March 31, 2022
|
| |
March 31, 2023
|
| ||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |||||||||
Revenues from Online EV Charging Solutions
|
| | | | 7,866 | | | | | | 19,255 | | | | | | 2,804 | | |
Revenues from Offline EV Charging Solutions
|
| | | | 6,533 | | | | | | 15,678 | | | | | | 2,283 | | |
Revenues from Innovative and Other Businesses
|
| | | | 80 | | | | | | 1,228 | | | | | | 179 | | |
Revenues | | | | | 14,479 | | | | | | 36,161 | | | | | | 5,266 | | |
Other gain, net
|
| | | | 681 | | | | | | 493 | | | | | | 72 | | |
Operating costs and expenses | | | | | | | | | | | | | | | | | | | |
Cost of revenues
|
| | | | (15,829) | | | | | | (30,047) | | | | | | (4,375) | | |
Selling and marketing expenses
|
| | | | (44,213) | | | | | | (66,389) | | | | | | (9,667) | | |
Administrative expenses
|
| | | | (41,304) | | | | | | (45,497) | | | | | | (6,625) | | |
Research and development expenses
|
| | | | (7,986) | | | | | | (7,832) | | | | | | (1,140) | | |
Total operating costs and expenses
|
| | | | (109,332) | | | | | | (149,765) | | | | | | (21,807) | | |
Operating loss
|
| | | | (94,172) | | | | | | (113,111) | | | | | | (16,469) | | |
Finance costs
|
| | | | (226) | | | | | | (7,060) | | | | | | (1,028) | | |
Fair value changes of convertible and redeemable preferred
shares |
| | | | (3,492) | | | | | | — | | | | | | — | | |
Fair value changes of financial assets at fair value through profit
or loss |
| | | | — | | | | | | 13,571 | | | | | | 1,976 | | |
Loss before income tax
|
| | | | (97,890) | | | | | | (106,600) | | | | | | (15,521) | | |
Income tax expenses
|
| | | | (1,413) | | | | | | (3,055) | | | | | | (445) | | |
Net loss
|
| | | | (99,303) | | | | | | (109,655) | | | | | | (15,966) | | |
Net loss attributable to: | | | | | | | | | | | | | | | | | | | |
Equity holders of the Company
|
| | |
|
(99,303)
|
| | | |
|
(109,655)
|
| | | |
|
(15,966)
|
| |
Basic and diluted loss per share for loss attributable to the ordinary
equity holders of the Company (Expressed in RMB per share) |
| | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (0.06) | | | | | | (0.05) | | | | | | (0.01) | | |
Diluted
|
| | | | (0.06) | | | | | | (0.05) | | | | | | (0.01) | | |
Basic and diluted loss per ADS for loss attributable to the ordinary
shareholders of the Company (Expressed in RMB per ADS) |
| | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (0.60) | | | | | | (0.50) | | | | | | (0.07) | | |
Diluted
|
| | | | (0.60) | | | | | | (0.50) | | | | | | (0.07) | | |
Weighted average number of ordinary shares outstanding –
basic |
| | | | 1,647,547,772 | | | | | | 2,196,978,125 | | | | | | 2,196,978,125 | | |
Weighted average number of ordinary shares outstanding –
diluted |
| | | | 1,647,547,772 | | | | | | 2,196,978,125 | | | | | | 2,196,978,125 | | |
Net loss
|
| | | | (99,303) | | | | | | (109,655) | | | | | | (15,966) | | |
Other comprehensive loss that will not be reclassified to profit or
loss in subsequent period: |
| | | | | | | | | | | | | | | | | | |
Fair value change on equity investment designated at fair value through other comprehensive loss, net of tax
|
| | | | — | | | | | | (23,353) | | | | | | (3,400) | | |
Currency translation differences
|
| | | | — | | | | | | (1,240) | | | | | | (181) | | |
Other comprehensive loss, net of tax
|
| | | | — | | | | | | (24,593) | | | | | | (3,581) | | |
Total comprehensive loss
|
| | | | (99,303) | | | | | | (134,248) | | | | | | (19,547) | | |
Total comprehensive loss attributable to: | | | | | | | | | | | | | | | | | | | |
Equity holders of the company
|
| | |
|
(99,303)
|
| | | |
|
(134,248)
|
| | | |
|
(19,547)
|
| |
| | |
As of
|
| |||||||||||||||
(In thousands)
|
| |
December 31, 2022
|
| |
March 31, 2023
|
| ||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |||||||||
ASSETS | | | | | | | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | | 513,351 | | | | | | 541,664 | | | | | | 78,872 | | |
Trade receivables
|
| | | | 130,004 | | | | | | 181,989 | | | | | | 26,500 | | |
Financial assets at fair value through profit or loss
|
| | | | — | | | | | | 30,530 | | | | | | 4,445 | | |
Prepayments, other receivables and other assets
|
| | | | 287,435 | | | | | | 239,749 | | | | | | 34,910 | | |
Total current assets
|
| | | | 930,790 | | | | | | 993,932 | | | | | | 144,727 | | |
Non-current assets | | | | | | | | | | | | | | | | | | | |
Right-of-use assets
|
| | | | 17,030 | | | | | | 15,106 | | | | | | 2,200 | | |
Financial assets at fair value through profit or loss
|
| | | | 11,753 | | | | | | 12,588 | | | | | | 1,833 | | |
Financial assets at fair value through other comprehensive income
|
| | | | 129,060 | | | | | | 105,707 | | | | | | 15,392 | | |
Investments accounted for using equity method
|
| | | | — | | | | | | 186 | | | | | | 27 | | |
Property, plant and equipment
|
| | | | 2,600 | | | | | | 2,766 | | | | | | 403 | | |
Intangible assets
|
| | | | 833 | | | | | | 783 | | | | | | 114 | | |
Other non-current assets
|
| | | | 13,869 | | | | | | 12,222 | | | | | | 1,780 | | |
Total non-current assets
|
| | | | 175,145 | | | | | | 149,358 | | | | | | 21,749 | | |
Total assets
|
| | | | 1,105,935 | | | | | | 1,143,290 | | | | | | 166,476 | | |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | | | | |
Interest-bearing bank borrowings
|
| | | | 38,000 | | | | | | 138,000 | | | | | | 20,094 | | |
Current lease liabilities
|
| | | | 6,853 | | | | | | 6,325 | | | | | | 921 | | |
Trade payables
|
| | | | 49,239 | | | | | | 81,168 | | | | | | 11,819 | | |
Income tax payables
|
| | | | 16,214 | | | | | | 19,060 | | | | | | 2,775 | | |
Other payables and accruals
|
| | | | 81,835 | | | | | | 99,238 | | | | | | 14,451 | | |
Total current liabilities
|
| | | | 192,141 | | | | | | 343,791 | | | | | | 50,060 | | |
Non-current liabilities | | | | | | | | | | | | | | | | | | | |
Interest-bearing bank borrowings
|
| | | | 465,155 | | | | | | 465,155 | | | | | | 67,732 | | |
Non-current lease liabilities
|
| | | | 9,327 | | | | | | 8,131 | | | | | | 1,184 | | |
Deferred tax liabilities
|
| | | | 438 | | | | | | 647 | | | | | | 94 | | |
Total non-current liabilities
|
| | | | 474,920 | | | | | | 473,933 | | | | | | 69,010 | | |
Total liabilities
|
| | | | 667,061 | | | | | | 817,724 | | | | | | 119,070 | | |
EQUITY | | | | | | | | | | | | | | | | | | | |
Share capital
|
| | | | 146,730 | | | | | | 146,730 | | | | | | 21,366 | | |
Additional paid in capital
|
| | | | 6,358,600 | | | | | | 6,379,540 | | | | | | 928,933 | | |
Other reserves
|
| | | | (35,201) | | | | | | (59,794) | | | | | | (8,707) | | |
Accumulated losses
|
| | | | (6,031,255) | | | | | | (6,140,910) | | | | | | (894,186) | | |
Total equity
|
| | | | 438,874 | | | | | | 325,566 | | | | | | 47,406 | | |
Total equity and liabilities
|
| | | | 1,105,935 | | | | | | 1,143,290 | | | | | | 166,476 | | |
| | |
For the Three Months Ended
|
| |||||||||||||||
(In thousands, except for share and per share and per ADS data)
|
| |
March 31, 2022
|
| |
March 31, 2023
|
| ||||||||||||
| | |
RMB
|
| |
RMB
|
| |
US$
|
| |||||||||
Reconciliation of Adjusted net loss attributable to ordinary
shareholders of the Company to Net loss attributable to ordinary shareholders of the Company |
| | | | | | | | | | | | | | | | | | |
Net loss attributable to ordinary shareholders of the Company
|
| | |
|
(99,303)
|
| | | |
|
(109,655)
|
| | | |
|
(15,966)
|
| |
Add: Share-based compensation expenses
|
| | | | 46,088 | | | | | | 20,940 | | | | | | 3,049 | | |
Fair value changes of convertible and redeemable preferred shares
|
| | | | 3,492 | | | | | | — | | | | | | — | | |
Fair value changes of financial assets at fair value through profit or loss
|
| | | | — | | | | | | (13,571) | | | | | | (1,976) | | |
Adjusted net loss attributable to ordinary shareholders of the Company
|
| | | | (49,723) | | | | | | (102,286) | | | | | | (14,893) | | |
Adjusted net basic and diluted loss per share for loss
attributable to the ordinary shareholders of the Company (Expressed in RMB per share) |
| | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (0.03) | | | | | | (0.05) | | | | | | (0.01) | | |
Diluted
|
| | | | (0.03) | | | | | | (0.05) | | | | | | (0.01) | | |
Adjusted net basic and diluted loss per ADS for loss
attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS) |
| | | | | | | | | | | | | | | | | | |
Basic
|
| | | | (0.30) | | | | | | (0.47) | | | | | | (0.07) | | |
Diluted
|
| | | | (0.30) | | | | | | (0.47) | | | | | | (0.07) | | |
Weighted average number of ordinary shares outstanding – basic
|
| | | | 1,647,547,772 | | | | | | 2,196,978,125 | | | | | | 2,196,978,125 | | |
Weighted average number of ordinary shares outstanding – diluted
|
| | | | 1,647,547,772 | | | | | | 2,196,978,125 | | | | | | 2,196,978,125 | | |
Selling Shareholder:
|
| |
Class A
Ordinary Shares† |
| |
Class B
Ordinary Shares† |
| |
Class C
Ordinary Shares† |
| |
Percent
Ownership†† |
| |
Percent
Voting Power††† |
| |
Percent
Voting Power (Upon Full Distribution by NewLink)†††† |
| |
Shares
Registered Pursuant to this Registration Statement (Maximum Number of Shares That May Be Sold) |
| |||||||||||||||||||||
Newlinks Technology Limited(1)
|
| | | | — | | | | | | 248,888,073 | | | | | | 1,398,659,699 | | | | | | 73.4% | | | | | | 89.9% | | | | | | 89.7% | | | | | | 1,647,547,772 | | |
1 Year NaaS Technology Chart |
1 Month NaaS Technology Chart |
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