Alex Wu, former Managing Director of Bain Capital, takes the President and CFO of NaaS

HUZHOU, China, Jan. 1, 2023 /PRNewswire/ — On December 30, 2022, NaaS (NASDAQ: NAAS), just one of the most significant and speediest developing electrical auto charging support providers in China, introduced that the Enterprise has appointed Alex Wu as its CFO and President, efficient January 15, 2023. Mr. Wu will be part of the Board of Administrators of NaaS.

Previously as Taking care of Director of Bain Money Personal Fairness, Mr. Wu gathered prosperous expertise in finance, technologies and management. In addition, in the course of his tenure at Bain Money, he also served as a board director of a number of portfolio businesses. Just after signing up for NaaS, Mr. Wu will be totally in demand of the Company’s everyday business management, economical management and capital procedure, and help the Firm with medium and lengthy-phrase strategic improvement.

Mr. Wu is a adaptable talent with global eyesight and prosperous management working experience. He is intended to help NaaS superior put into practice the new tactic and serve the fast-expanding Chinese new electricity car industry. “This is an exciting instant for us,” mentioned Wang Yang, Founder and CEO of NaaS. “Alex will bring in a wealth of working experience and competencies in both of those company and finance to help us build greater. And we are confident that this appointment will build a lot more new worth for NaaS and our shareholders.”

As of September 30, 2022, NaaS’ charging alternatives experienced served 1,282 charging station operators, and linked above 45,000 charging stations with in excess of 434,000 chargers on NaaS’ community. In the very first three quarters of 2022, charging volume transacted by means of the Firm’s network attained 1,892 GWh, and gross transaction value achieved CNY 1.861 billion, symbolizing 2.29 times and 2.35 periods that of the identical interval of 2021, respectively. The Enterprise also proven strategic cooperation partnership with Chevron, Li Auto, NEWRIZON, Ohways, On Time, DianYue Travel, Tunghsu Team, and other sector partners during the third quarter of 2022.

Looking ahead to 2023, with emphasis on new ability methods, property and station operation and routine maintenance, and other fields, NaaS will produce new organization this kind of as digital electrical power plant, PV + electricity storage + charging integration, and clever procedure and upkeep, and advance progressive small business designs.

NaaS is a subsidiary of Newlinks Know-how Limited, and Bain Funds has near ties with them. Bain Cash invested USD 200 million in Newlinks in March 2021 as the lead investor, and was also included in the pre-IPO funding of NaaS in January 2022.

China’s new power motor vehicle and charging services current market has taken care of a swift development amount. In November 2022, China’s new vitality automobile penetration charge surged to a report superior of 33.8%. From January to November 2022, charging infrastructure increment in China was 2.332 million models, and community charging pile increment was up 105.4% year on 12 months. As of November 2022, there had been 4.949 million units of charging infrastructure in China, up 107.5% year on year.

Referring to NaaS and its track, Jonathan Zhu, Handling Director at Bain Money and Co-head of Asia Personal Fairness, said, “China’s transportation strength is entering an period of oil and electrical power travel, NaaS is a main electric powered motor vehicle charging resolution provider in China, and what it is undertaking is of substantial commercial and social price. China has the most significant new power current market in the world, which will provide large prospects to primary electronic enterprises in the market.”

NaaS closed higher than 30% on the early morning of December 31 BJT, registering the most important attain amid all China Ideas Shares that day.

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Maria Flores

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