BEIJING, Feb. 21, 2025 – NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, has unveiled a $10 million share repurchase program. The Board of Directors approved the program, which will commence February 21, 2025, and extend through February 2026.
The company plans to execute the repurchases in various ways, including open market transactions at current market prices, privately negotiated transactions, and block trades. The Board will periodically review the program and may adjust its terms and size.
This announcement signals an aggressive capital allocation strategy. Given NaaS Technology’s market capitalization is approximately $18.7 million, the $10 million buyback represents over 53% of the company’s market value. This warrants careful analysis from investors.
Several factors deserve investor attention:
- The program’s size relative to market cap
- Successful execution of a limited float and high volatility
- The timing of the announcement within China’s EV charging infrastructure market
- Comparison of allocating capital to infrastructure expansion or strategic purchases
While share repurchases can indicate management’s confidence, the execution and impact of the program will need careful evaluation. The provision for periodic review offers the flexibility to respond to changing market realities.
Key Points:
- Program Size: $10 million
- Duration: 12 months (February 21, 2025 –February 2026)
- Repurchase Methods: Open market, private transactions, and block trades
- Review: Board will conduct periodic reviews and make adjustments as needed.
