NaaS Technology Inc. Reports Unaudited 2023 Fourth Quarter and Full Year Financial Results
2023 Fourth Quarter Financial Results:
- 2023 Fourth Quarter Financial Results:
Total revenues reached RMB64.4 million (US$9.1 million) for the fourth quarter of 2023, representing an increase of 119% year over year. - Total cost of revenues increased 114% from RMB22.3 million for the fourth quarter of 2022 to RMB47.7 million (US$6.7 million) for the fourth quarter of 2023.
- Total operating expenses increased from RMB128.8 million for the fourth quarter of 2022 to RMB415.5 million (US$58.5 million) for the fourth quarter of 2023.
- Net margin decreased from negative 431% for the fourth quarter of 2022 to negative 770% for the fourth quarter of 2023 and non-IFRS net margin decreased from negative 380% for the fourth quarter of 2022 to negative 494% for the fourth quarter of 2023.