NaaS Technology Inc.

Ladies and gentlemen, thank you for standing by. Welcome to NAS fourth quarter and full year 2023 earnings conference call. At this time, all participants are in listen-only mode. I must advise you that this conference is being recorded. I would now like to turn the conference over to your first speaker today, Mr. John Wang, Director of Investor Relations. Thank you. Please go ahead.

Thank you, operator, and hello, everyone. and welcome to NASF's fourth quarter and fiscal year 2023 earnings conference call. The company's results were issued earlier today and are posted online. Joining me on the call today are Ms. Cathy Wang Yang, our Chief Executive Officer, Ms. Vivian Wu Ye, our Chief Strategy Officer, and Mr. Alex Wu, our President and Chief Financial Officer. For today's agenda, Ms. Wang will provide an overview of our recent performance and highlights. Ms. Wu will discuss our operating results, and Mr. Wu will go through our financial highlights. Before we continue, I refer you to our safe harbor statement in earnings press release, which applies to this call as we will make forward-looking statements. Also, Please note that this call includes discussions of certain non-IFRS financial measures. Please refer to our earnings release, which contains a reconciliation of non-IFRS measures to the most comparable IFRS measures. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB. I will now turn the call over to our CEO, Ms. Cathy Wang Yang. Cathy, please go ahead.

Hello, everyone. I'm NUTS CEO Cathy Wang. It's my pleasure to share NUTS full culture and full year 2023 earnings results with all of you and to discuss our recent development. In 2023, both our business skill and revenue saw substantial growth, A host of strategic initiatives diversified our income structure, promoting sustainable revenue growth and improving profitability. Total revenue for the full year reached RMB 320 million, a year-over-year increase of 245%. While growth profit increased to 14 times to RMB 89 million. Our full-year growth profit margin expanded from 6.6% to 27.7% year-over-year, and non-effort net margin narrowed by 162% year-over-year. On the operations front, we steadily expanded our charging network, our full-year charging volume reached 95,000 gigawatt hours, an 81% year-over-year increase, while the total number of the new energy vehicles in China increased by 55.8% during the same period. Meanwhile, we strive to improve profitability. Our mobility connective services, night security, has risen for five consecutive months since September 2023, turning positive in January 2024, and continued to expand in February. While maintaining our strong market position in charging services, we also explored new business models to further diversify our income streams. Revenues from energy solutions reached RMB 187 million for the full year 2023, accounting for over 58% of total revenues. This segment growth reflects our progress in shifting from an energy service provider to a comprehensive energy solution provider. Going forward, we will continue to lead the charging services market while exploring new paths to income diversification. The strong foundation we built in 2023 will empower us to consistently improve revenue and profitability, propelling the company's steady development. Now I will turn things over to Ms. Weiwei Wu, our newly appointed CISO. for a closer look at our operating results.