The following is a summary of the NaaS Technology Inc. (NAAS) Q2 2024 Earnings Call Transcript:

Financial Performance:

• NaaS reported substantial year-over-year revenue growth of 89% to RMB91.7 million, driven by increases in all business segments.

• Net loss margin reached its lowest historical level, and net profit turned positive in June 2024.

• Gross profit increased by 59% year-over-year to RMB30.5 million, with gross margin improvement across charging services.

Business Progress:

• Expanded partnerships with major automotive manufacturers like Geely, Hyundai, and Great Wall Motors.

• Launched upgraded autonomous charging robots, enhancing the charging services.

• Launching 1,000 additional chargers in collaboration with a major energy company.

Opportunities:

• Increasing demand for autonomous charging solutions, particularly for autonomous vehicles.

• Expanding AI capabilities in the smart charging and energy fintech platforms, driving the transformation towards a smarter billion-dollar market.

Risks:

• Turnaround to profitability needs to be sustained in future quarters, reflecting the company's continuous challenge in maintaining cost control and revenue growth.

More details: NaaS Technology IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.