NaaS Technology announced the completion of its ADS ratio change on June 13, 2024, adjusting from one ADS representing 10 Class A ordinary shares to one ADS representing 200 Class A ordinary shares. This change effectively implemented a one-for-twenty reverse ADS split, with JPMorgan Chase Bank automatically exchanging one new ADS for every 20 previously-held ADSs.Concurrently, the company received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share, as its ADS closing price remained below this threshold for 30 consecutive business days. NaaS expects to regain compliance within the 180-day grace period due to the ADS ratio adjustment, though this cannot be guaranteed.

NaaS Technology announced the completion of its ADS ratio change on June 13, 2024, adjusting from one ADS representing 10 Class A ordinary shares to one ADS representing 200 Class A ordinary shares. This change effectively implemented a one-for-twenty reverse ADS split, with JPMorgan Chase Bank automatically exchanging one new ADS for every 20 previously-held ADSs.Concurrently, the company received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share, as its ADS closing price remained below this threshold for 30 consecutive business days. NaaS expects to regain compliance within the 180-day grace period due to the ADS ratio adjustment, though this cannot be guaranteed.