Press Release: NaaS Technology Inc. Reports Unaudited 2024 Third Quarter Financial Results

Dow Jones
2024-11-20
Non-IFRS net 
 profit/loss 
 attributable to the 
 ordinary shareholders 
 of the Company             (175,718)         21,205          3,022      (385,981)      (145,048)       (20,669) 
                        -------------  -------------  -------------  -------------  -------------  ------------- 
 
Basic and diluted 
earnings/loss per 
share for 
Non-IFRS net 
profit/loss 
attributable to the 
ordinary 
shareholders of the 
Company (Expressed 
in RMB per share) 
Basic                         (0.078)          0.008          0.001        (0.174)        (0.056)        (0.008) 
Diluted                       (0.078)          0.004          0.001        (0.174)        (0.056)        (0.008) 
 
Basic and diluted 
earnings/loss per 
ADS for Non-IFRS net 
profit/loss 
attributable to the 
ordinary 
shareholders of the 
Company (Expressed 
in RMB per ADS) 
Basic                        (15.622)          1.574          0.224       (34.792)       (11.135)        (1.587) 
Diluted                      (15.622)          0.877          0.125       (34.792)       (11.135)        (1.587) 
 
Weighted average 
 number of ordinary 
 shares 
 outstanding-basic      2,249,586,003  2,693,665,713  2,693,665,713  2,218,815,732  2,605,322,746  2,605,322,746 
Weighted average 
 number of ordinary 
 shares 
 outstanding-diluted    2,249,586,003  4,837,957,744  4,837,957,744  2,218,815,732  2,605,322,746  2,605,322,746 
 
 
NAAS TECHNOLOGY INC. 
UNAUDITED RECONCILIATIONS OF IFRS AND NON-IFRS FINANCIAL MEASURES 
 
                   For the Three Months Ended        For the Nine Months Ended 
                  -----------------------------  ---------------------------------- 
                  September     September 30,    September 30,     September 30, 
                   30, 2023          2024             2023              2024 
                  ----------  -----------------  -------------  ------------------- 
(In thousands)       RMB        RMB       US$         RMB          RMB       US$ 
 
Cost of revenues    (70,383)  (19,298)  (2,750)      (120,778)   (94,927)  (13,527) 
Share-based 
 compensation 
 expenses              2,853       640       91          6,568      5,689       811 
                   ---------  --------  -------  -------------  ---------  -------- 
Non-IFRS cost of 
 revenues           (67,530)  (18,658)  (2,659)      (114,210)   (89,238)  (12,716) 
                   =========  ========  =======  =============  =========  ======== 
 
Selling and 
 marketing 
 expenses          (157,909)  (29,697)  (4,232)      (309,630)  (149,359)  (21,283) 
Share-based 
 compensation 
 expenses             36,037       521       74         44,295     24,612     3,507 
                   ---------  --------  -------  -------------  ---------  -------- 
Non-IFRS selling 
 and marketing 
 expenses          (121,872)  (29,176)  (4,158)      (265,335)  (124,747)  (17,776) 
                   =========  ========  =======  =============  =========  ======== 
 
Administrative 
 expenses          (100,800)  (48,674)  (6,936)      (407,482)  (222,602)  (31,721) 
Share-based 
 compensation 
 expenses             32,165    12,977    1,849        265,654     98,570    14,046 
Non-IFRS 
 administrative 
 expenses           (68,635)  (35,697)  (5,087)      (141,828)  (124,032)  (17,675) 
                   =========  ========  =======  =============  =========  ======== 
 
Research and 
 development 
 expenses           (17,314)   (4,920)    (701)       (36,327)   (37,697)   (5,372) 
Share-based 
 compensation 
 expenses              (895)     1,396      199          2,831      9,920     1,414 
                   ---------  --------  -------  -------------  ---------  -------- 
Non-IFRS research 
 and development 
 expenses           (18,209)   (3,524)    (502)       (33,496)   (27,777)   (3,958) 
                   =========  ========  =======  =============  =========  ======== 
 
Operating loss     (242,987)  (50,177)  (7,150)      (690,398)  (326,607)  (46,541) 
Share-based 
 compensation 
 expenses             70,160    15,534    2,213        319,348    138,791    19,778 
Non-IFRS 
 operating loss    (172,827)  (34,643)  (4,937)      (371,050)  (187,816)  (26,763) 
                   =========  ========  =======  =============  =========  ======== 
 
 
 
NAAS TECHNOLOGY INC. 
SUPPLEMENTARY DATA -- UNAUDITED QUARTERLY FINANCIAL DATA 
 
The following tables present certain unaudited consolidated quarterly financial information for each of the six 
quarters in the eighteen months ended June 30, 2024. This quarterly 
information has been prepared on the same basis as the Unaudited Consolidated Statements of Loss and Other 
Comprehensive Loss and includes all adjustments necessary 
to state fairly the information for the periods presented. 
                                              For the Three Months Ended 
                       ------------------------------------------------------------------------- 
                         March 31,      June 30,     September 30,  December 31,     March 31,      June 30, 
                            2023           2023           2023           2023           2024          2024 
                       -------------  -------------  -------------  -------------  ------------- 
(In thousands, 
except for share and 
per share and per 
ADS data)                   RMB            RMB            RMB            RMB            RMB            RMB 
 
Continuing 
operations 
Total revenues                36,161         37,278         98,935         60,989         56,259         55,025 
 
Gross profit                   6,114         16,930         28,552         11,593         14,556         21,099 
 
Loss from continuing 
 operations                (109,655)      (335,136)      (374,501)      (474,739)      (227,109)      (138,662) 
Profit/(loss) from 
 discontinued 
 operations                       --            762          9,308       (23,190)          (623)          3,219 
Net loss                   (109,655)      (334,374)      (365,193)      (497,929)      (227,732)      (135,443) 
 
Basic and diluted 
loss per share for 
loss from continuing 
operations 
attributable to the 
ordinary 
shareholders of the 
Company (Expressed 
in RMB per share) 
Basic                        (0.050)        (0.152)        (0.166)        (0.199)        (0.091)        (0.053) 
Diluted                      (0.050)        (0.152)        (0.166)        (0.199)        (0.091)        (0.053) 
 
Basic and diluted 
loss per ADS for 
loss from continuing 
operations 
attributable to the 
ordinary 
shareholders of the 
Company (Expressed 
in RMB per ADS) 
Basic                        (9.982)       (30.339)       (33.295)       (39.873)       (18.106)       (10.635) 
Diluted                      (9.982)       (30.339)       (33.295)       (39.873)       (18.106)       (10.635) 
 
Basic and diluted 
loss per share for 
loss attributable to 
the ordinary 
shareholders of the 
Company (Expressed 
in RMB per share) 
Basic                        (0.050)        (0.151)        (0.163)        (0.208)        (0.091)        (0.052) 
Diluted                      (0.050)        (0.151)        (0.163)        (0.208)        (0.091)        (0.052) 
 
Basic and diluted 
loss per ADS for 
loss attributable to 
the ordinary 
shareholders of the 
Company (Expressed 
in RMB per ADS) 
Basic                        (9.982)       (30.296)       (32.616)       (41.636)       (18.129)       (10.370) 
Diluted                      (9.982)       (30.296)       (32.616)       (41.636)       (18.129)       (10.370) 
 
Weighted average 
 number of ordinary 
 shares 
 outstanding-basic     2,196,978,125  2,209,304,961  2,249,586,003  2,381,259,279  2,508,694,151  2,612,637,572 
Weighted average 
 number of ordinary 
 shares 
 outstanding-diluted   2,196,978,125  2,209,304,961  2,249,586,003  2,381,259,279  2,508,694,151  2,612,637,572 
                       -------------  -------------  -------------  -------------  -------------  ------------- 
 
 
 
NAAS TECHNOLOGY INC. 
UNAUDITED RECONCILIATIONS OF IFRS AND NON-IFRS FINANCIAL MEASURES 
 
                                For the Three Months Ended 
                   ----------------------------------------------------- 
                   March 31,  June 30,   September  December   March 31,     June 30, 
                      2023       2023    30, 2023   31, 2023      2024         2024 
                   ---------  ---------  ---------  ---------  ---------  --------------- 
(In thousands)        RMB        RMB        RMB        RMB        RMB        RMB 
 
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       (109,655)  (334,665)  (366,863)  (495,730)  (227,399)  (135,470) 
   Add: 
    Share-based 
    compensation 
    expenses          20,940    228,248     70,160     79,728     80,316     42,941 
   Fair value 
    changes of 
    convertible 
    instruments           --         --    120,400    (3,880)      7,790          7 
   Fair value 
    changes of 
    financial 
    assets at 
    fair value 
    through 
    profit or 
    loss            (13,571)    (1,560)        585    102,065     12,928     52,634 
                   ---------  ---------  ---------  ---------  ---------  --------- 
Non-IFRS net 
 profit/loss 
 attributable to 
 the ordinary 
 shareholders of 
 the Company       (102,286)  (107,977)  (175,718)  (317,817)  (126,365)   (39,888) 
                   ---------  ---------  ---------  ---------  ---------  --------- 
 
 

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SOURCE NaaS Technology Inc.

 

(END) Dow Jones Newswires

November 20, 2024 04:00 ET (09:00 GMT)

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