BEIJING, Sept. 29, 2026 (GLOBE NEWSWIRE) — The All-China Federation of Industry and Commerce (ACFIC) has released the 2026 China Top 100 Private Service Enterprises list. Shandong Energy Chain Holding Co., Ltd., a subsidiary of Newlinks Technology Limited (“Newlinks”), the parent company of NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), was named to the list at No. 85. The inclusion reflects the scale of Shandong Energy Chain Holding Co., Ltd.’s service business and comes as Newlinks continues to apply artificial intelligence (AI) to advance the digital and intelligent transformation of energy services.

In recent years, producer services, or services that support production and business operations, have played an increasingly important role in the economy and become a key area of service-sector development. This year, ACFIC conducted its 28th Survey of Large-Scale Private Enterprises, in which 6,350 enterprises with 2025 operating revenue above RMB 1 billion participated. Based on operating revenue, ACFIC separately ranked participating service-sector enterprises to compile the 2026 China Top 100 Private Service Enterprises list, providing a snapshot of the development of China’s modern service sector.

A New Model of Producer Services

Newlinks represents an emerging model of producer services in the transportation energy sector. Rather than relying primarily on ownership of energy assets, Newlinks connects supply and demand through digital platforms and data-driven services designed to improve energy replenishment efficiency, reduce unnecessary vehicle mileage and queuing time, and enhance station utilization. This asset-light approach creates value through connectivity, data and services rather than asset ownership, reflecting the broader evolution of the modern service economy.

With China’s new energy vehicle (NEV) fleet growing rapidly, this digital service model has expanded into the charging sector. Charging services face a highly fragmented supply side, with operators, stations and chargers owned and operated by different parties, making it difficult for any single enterprise to manage the full service chain, from charger discovery and charging to payment and settlement. NaaS acts as an industry connector through its charging platform and its relationships within Newlinks’ broader energy ecosystem. Newlinks’ gas station network provides site-selection experience that may inform charging station siting and the development of co-located fuel-and-charging stations. Long-standing relationships with automakers (OEMs) and fleet customers enable fueling and charging services to be jointly integrated into the smart cockpit systems of approximately 80% of China’s major automakers. The large volume of transaction data generated across both fueling and charging is used to train supply-and-demand matching algorithms and refine dispatch models. Together, these capabilities connect NaaS’ charging services with Newlinks’ broader energy digitalization ecosystem, supporting the development of NaaS’ charging service platform.

Making Better Use of Technology to Unlock the Value of Existing Charging Assets

Even as public charging infrastructure continues to expand, structural challenges remain, including uneven utilization across regions and the difficulty of achieving profitability from charging price spreads alone. The industry is shifting from rapidly building new chargers toward making better use of existing charging assets, with digitalization and AI-driven dispatch playing an increasingly important role in addressing these challenges. Against this backdrop, NaaS’ interconnection platform uses AI-powered supply-and-demand matching seek to improve operational efficiency for participants across the value chain.

By the end of 2025, NaaS’ charging platform covered 364 cities and had cumulatively connected approximately 50% of China’s public charging infrastructure, excluding dedicated chargers. In the first half of 2026, NaaS reported positive operating profit for the first time, marking an important milestone in the development of its asset-light digital charging service model.

From refined oil products to EV charging, Newlinks’ businesses have centered on a single aim: making energy replenishment more efficient. Shandong Energy Chain Holding Co., Ltd.’s inclusion in the Top 100 Private Service Enterprises list marks another milestone in the development of this service-focused model. NaaS will continue to serve as a connector and service platform for the charging industry. Drawing on its charging network and AI and digitalization capabilities, the Company will focus on real-world scenarios such as vehicle energy replenishment and station operations to seek to improve the energy replenishment experience and operating efficiency across the industry, supporting the green and low-carbon transition of transportation energy.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S.-listed EV charging service company in China. The Company is a subsidiary of Newlinks, a leading energy digitalization group in China, and is one of the leading providers of new energy asset operation services. The Company uses advanced technology to intelligently match charging supply with demand, offering EV users a seamless, efficient and smart charging experience, while empowering charging stations and operators to optimize operations, improve efficiency and enhance profitability.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial condition and results of operations; its ability to continuously develop new technologies, services and products and keep pace with changes in the industries in which it operates; the growth of China’s EV charging industry and NaaS’ future business development; the demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; fluctuations in the RMB exchange rate and NaaS’ ability to obtain adequate financing; NaaS’ relationships with end users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

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