On March 29th, NASDAQ: NAAS, the leading Chinese charging service company, released its unaudited financial reports for the fourth quarter and full year of 2023.
The data shows that the company's annual operating revenue in 2023 was 320 million yuan (45.08 million US dollars), a year-on-year increase of 245%; Realized a gross profit of 88.76 million yuan (12.5 million US dollars), a year-on-year increase of up to 13 times, with a significant increase in gross profit margin from 6.6% in 2022 to 27.7% in 2023.
In terms of annual financial indicators, the profitability of Nenglian Smart Electric charging services has improved, and the order side profitability has achieved positive growth for five consecutive months. It turned positive for the first time in January this year and further expanded to 0.75% in February.
According to the financial report, Nenglian Zhidian completed 214 million charging orders in 2023, a year-on-year increase of 75%; The charging capacity was 4.958 billion kilowatt hours, a year-on-year increase of 81%; The transaction volume was 4.7 billion yuan, a year-on-year increase of 74%; Leading the growth rate of China's total new energy vehicles in the same period at 55.8%.
It is worth mentioning that from the perspective of income structure, Nenglian Zhidian's annual energy solution revenue reached 187 million yuan, accounting for 58.5% of the total revenue; The revenue from charging services is 129 million yuan, accounting for 40.3%, indicating that the company's revenue structure is becoming more diversified.
The company believes that with the gradual implementation of energy solution projects such as EPC and energy storage, its business has upgraded from its initial interconnection and charging services to a new energy asset operator.
At the financial report communication meeting held at 8am Beijing time on March 29th, the management of Nenglian Zhidian mentioned when asked about its overseas expansion plan that the Chinese market remains the largest and fastest-growing market for electric vehicle charging, and is the top priority of the company's business expansion plan.
In terms of global expansion, the management revealed that the company is collaborating with leading electric vehicle manufacturers in China to penetrate the European and Southeast Asian markets, helping them provide charging services and networks in overseas markets.
Nenglian Zhidian is also collaborating with overseas CPOs (charging station operators) to provide charging services for electric vehicle drivers in the global market.
At the same time, the company is helping the "the Belt and Road" co construction countries to use mature energy solutions to help upgrade their energy infrastructure systems, such as optical storage and charging integrated solutions.
Finally, in January of this year, NAAS brand charging stations have obtained relevant certification in the European market. The management stated that these cutting-edge hardware technologies have opened up new opportunities for us to expand the market, and the electric vehicle infrastructure there is a key focus for future investment.