NaaS gets Nasdaq notification regarding minimum market value deficiency

NaaS (NAAS) Technology, the first U.S.-listed EV charging service company in China, announced that it has received written notification from the Nasdaq Stock Marke dated June 13, 2025, notifying the Company that it is currently not in compliance with the minimum market value of listing securities of $35 million for continued listing of the Company’s Class A ordinary shares on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(b)(2). Nasdaq calculates the MVLS based upon the most recent total shares outstanding multiplied by the closing bid price. The MVLS Notice indicated that the Company has 180 days, or until December 10, 2025 to regain compliance with the MLVS Requirement by having its MVLS close at $35 million or more for a minimum of ten consecutive business days.