NaaS Technology Receives Nasdaq Warning Over US$35 Million Market Value Deficiency
On February 17, NaaS Technology Inc. received Nasdaq notice that its market value of listing securities dropped below the US$35 million minimum requirement. The company has 180 days until August 17, 2026 to restore a US$35 million MVLS for ten consecutive business days and rectify its stockholders’ equity under US$2.5 million and net income below US$500,000.
1. Nasdaq Notice of MVLS Deficiency
On February 17, 2026, Nasdaq notified NaaS Technology Inc. that its market value of listing securities fell below the US$35 million minimum required under Listing Rule 5550(b)(2). The MVLS notice marks the start of a 180-day period for the company to regain compliance.
2. Compliance Timeline and MVLS Criteria
To meet the MVLS requirement, NaaS must achieve a closing MVLS of at least US$35 million for ten consecutive business days before August 17, 2026. Nasdaq will issue written confirmation once the threshold is met, closing the compliance matter.
3. Equity and Net Income Shortfalls
The notice also highlighted that NaaS does not meet the US$2.5 million stockholders’ equity standard or the net income requirement of US$500,000 in the most recently completed fiscal year. These additional deficiencies fall under Listing Rule 5550(b)(1) and (b)(3).
4. Listing Status and Remediation Plans
Despite the notice, the company’s Class A ordinary shares will continue trading on the Nasdaq Capital Market. NaaS intends to monitor its market value and take measures to cure the deficiencies within the grace period, while preparing for potential appeals if needed.