Recently, Naas Technology (NAAS.US) has reached a cooperation agreement with a leading regional charging operator in Fujian, connecting more than 100 charging stations and over 1600 DC charging guns to the charging network of Naas Technology's strategic partner, Kuaidian. The two parties will cooperate comprehensively on interconnection of charging facilities, precise traffic guidance, payment services, etc. The cooperation with the leading regional charging operator is a concrete manifestation of the company's recent deepening focus on the interconnected business strategy.

After this cooperation, the public charging stations connected by Naas Technology will expand coverage to cities such as Ningde, Longyan, Sanming, and Putian, and further expand the supply scale of charging stations in major cities such as Xiamen and Fuzhou to provide convenient, efficient, and intelligent charging services to approximately 0.7 million local electric vehicle owners.

Data shows that as of August 2024, Fujian Province has approximately 0.7 million new energy vehicles and over 0.105 million public charging piles. Currently, the sales volume and sales penetration rate of new energy vehicles in major cities of Fujian Province have increased significantly. In the first half of 2024, the total number of new energy vehicles in Xiamen exceeded 0.19 million, accounting for 10% of the total vehicles, surpassing the national average of 7.4%. Particularly in Xiamen and Fuzhou, the monthly sales penetration rate of new energy vehicles has reached nearly 55%, also exceeding the national average.

The sharp increase in sales of new energy vehicles further raises the requirements for the convenience and coverage of local charging services. Based on this, Naas Technology will continue to increase the supply of public charging piles in this region, expand the number of charging operator partners, and connect more DC fast charging stations to the Kuaidian service network to enhance the operator's digital customer acquisition capability and help accelerate the charging process for electric vehicle owners. Users can use the Kuaidian App to check prices, locations, parking, etc., of nearby charging stations online, and navigate intelligently to the charging station, for one-click charging or payment.

In the first half of 2024, Naas Technology continued to improve the ecosystem construction of the supply and demand sides of the electric vehicle charging industry. On one hand, it added BYD, FAW-Volkswagen, NIO, ZHIJI, JYEV, and other automobile brands to the new energy vehicle infotainment screens; on the other hand, the company embedded charging services into third-party cooperation platforms in the form of APIs and SDKs, covering various channels such as digital map providers, commercial vehicles, passenger vehicles, and post-vehicle services, connecting more scenarios and achieving interconnected charging services.

The Chinese new energy vehicle market continues to maintain a stable and high-speed growth trend. According to the latest data released by the China Passenger Car Association, in September 2024, the retail sales of new energy passenger vehicles in China reached 1.123 million units, with a retail penetration rate of 53.3%, breaking through 50% for three consecutive months. The hot sales of electric vehicles have driven a sharp increase in the demand for car charging. During the National Day holiday in October, the travel and charging volume of electric vehicles in China hit a new historical high. Data from the National Energy Administration shows that from October 1 to October 7, the daily average charging volume of electric vehicles on highways in China was 10.31 million kilowatt-hours, which is 2.4 times the usual volume this year, with a year-on-year growth of 80%.

Not only the increase in supply scale, but the precise matching of supply and demand in the electric vehicle charging sector is crucial. While expanding diversified ecological cooperation, Naas Technology also relies on the NEF (NaaS Energy Fintech) system based on artificial intelligence algorithms to adjust real-time charging demand and electricity dynamic pricing, achieve intelligent matching of charging supply and demand, enhance the profitability of charging operators, and maximize site revenue. In the future, Naas Technology will continue to strengthen the new energy ecosystem together with major manufacturers, charging operators, third-party platforms, etc., enhance platform interconnection, and help promote the high-quality development of the charging industry.