The only technology company from China's energy industry to attend COP27, NaaS becomes the first of its peers to release an ESG report

BEIJING, Nov. 15, 2022 /PRNewswire/ -- Chairman Mr. Zhen Dai and CEO Ms. Yang Wang of NaaS Technology Inc. (NASDAQ: NAAS) (the "Company" or "NaaS"), one of the largest and fastest-growing electric vehicle charging service providers in China, addressed how the company leverages digital innovation to achieve carbon neutrality by linking thousands of EV drivers with charging points across China, at the United Nations COP27 conference in Egypt last week. The company released a preview of its first ESG report championing best global practices, making it the first among its peers in China to do so.

Mr. Zhen Dai delivered a speech on the theme of "A Chinese Model of Energy Digitalization Practices" at the China Pavilion Enterprise Day. Mr. Dai remarked that an energy revolution is taking place around the world. With its advanced digital technology and huge market, China supports highly innovative business models in the reduction of carbon emissions. Carbon emissions in transportation account for about 10% of China's national carbon emissions. For that reason, it is necessary to gradually replace fossil fuels with new energy to achieve the emission reduction targets established for transportation.

Ms. Yang Wang, founder and CEO of NaaS, spoke at the "Green Finance and Climate Change Action" conference session. Ms. Wang highlighted that green finance will accelerate and promote the healthy development of the new energy industry. "We hope to join hands with financial institutions to provide various financial tools and services to asset owners such as gas stations and charging stations, with the goal of promoting green energy, efficiency in energy usage and reduction in carbon emissions." These financial tools and services include supply chain finance, asset securitization, REITs and zero carbon funds.

NaaS released its first semi-annual ESG report in November 2022, detailing the company's vision and actions in tackling climate change and promoting green development in transportation and energy. The company is taking on green leadership, collaborative ecosystem co-construction and innovative technology as its three ESG driving themes. The report details NaaS, as the "connector" of the new energy industry, promoting sustainable and inclusive sector development with four key approaches: low-carbon operations, quality innovation, people-centric care and raising livelihoods through collaborative partnerships.

According to NaaS's newly released ESG report for 1H 2022, the company achieved a carbon emission reduction of 700,400 tons in the first half of 2022, accounting for over 70% of last year's total reduction. As certified by SGS Group, in 2021, NaaS achieved 896,800 tons in carbon reduction.

About NaaS Technology Inc.

NaaS Technology Inc. is one of the largest and fastest growing electric vehicle charging service providers in China. Founded in 2019, NaaS provides EV charging services and maintains the largest charging network in China. As of June 30, 2022, NaaS has extended its businesses to 358 cities across China, with over 44,000 charging stations and over 400,000 charging guns.

NaaS's vision is to power the world with green energy. The company's market strength comes from being one of the first EV movers in the massive Chinese market. NaaS' asset-light business model allows for accelerated expansion and growth. The company has a comprehensive suite of EV charging solutions that serve charging station operators, charger manufacturers, EV OEMs and end-users, and also benefits other stakeholders along the EV charging industry value chain. The company's competitive advantages in geographic coverage, efficiency and sustainability have made it well-positioned to become a global leader in EV charging services.

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