NaaS Technology Inc. (Nasdaq: NaaS) has regained compliance with the Nasdaq Listing Rule 5550(a)(2) (Minimum Bid Price Requirement) after receiving a Compliance Notice from the Nasdaq Stock Market Inc. The notice, dated June 28, 2024, marks an important milestone for the first U.S. listed EV charging service company in China.
Earlier in June, the company had received a Deficiency Notice from Nasdaq stating that the closing bid price for the company’s American depositary shares (ADSs) had fallen below the minimum bid price of $1.00 for 30 consecutive business days, as required by the Nasdaq Listing Rule 5550(a)(2). However, following an appeal process and implementation of corrective actions, the Compliance Notice now confirms that the closing bid price of the company’s ADSs has been at $1.00 per ADS or greater for ten consecutive business days from June 13 through June 27, 2024.
NaaS Technology Inc., a subsidiary of Newlinks Technology Limited, is a leading energy digitalization group in China. As the first U.S. listed EV charging service company in China, it 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 at ir@enaas.com and its media relations at pr@enaas.com for more information about this important step forward for the company as it continues to grow and thrive in the EV charging service industry.