The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 669K (2021) → 3.0M (2025)
Founded in 2019 and headquartered in Beijing, China, this company offers electric vehicle (EV) charging solutions throughout the country. Its services cater to a wide range of clients, including charging station operators, manufacturers of EV charging equipment, original equipment manufacturers (OEMs) of electric vehicles, and individual consumers.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
-35.3% YoY
YoY Growth Rate
Revenue declining
+91.5% YoY
YoY Growth Rate
EPS growth accelerating
¥15M/ year
↓ Declining (-65% vs prior year)
11.7% of revenue
2.9x the sector average (4%)
R&D spend declining — could signal cost-cutting or efficiency
Cash flow positive
¥175M cash & investments
Company generates more cash than it spends — no dilution risk from fundraising
NaaS Technology's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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FCF margin between 0% and 10%. Some cash from sales, but not a lot.
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Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
