能链智电美股招股说明书(2023-11-22版)

424B51d472286d424b5.htm424(B)(5) TableofContents PROSPECTUSSUPPLEMENT (TOPROSPECTUSDATEDAUGUST31,2023) FiledPursuanttoRule424(b)(5)RegistrationNo.333-273515 6,600,000AmericanDepositarySharesRepresenting66,000,000ClassAOrdinaryShares NaaSTechnologyInc. Thisprospectussupplementrelatestoanofferingbyusdirectlytocertaininvestorsofanaggregateof6,600,000Americandepositaryshares,orADSs,eachrepresentingtenClassAordinaryshares,parvalueUS$0.01pershare,ofNaaSTechnologyInc.TheADSsarelistedontheNasdaqStockMarket,orNasdaq,underthetickersymbol“NAAS.”OnNovember21,2023,theclosingpriceoftheADSsonNasdaqwasUS$2.47perADS. Investinginthesesecuritiesinvolvesahighdegreeofrisk.Furthermore,investorsshouldbeawarethattherearevariousotherrisksrelatingtothesecurities,theissueranditssubsidiaries,theirbusinessandtheirjurisdictionsofoperationswhichinvestorsshouldfamiliarizethemselveswithbeforemakinganinvestmentinthesecurities.Pleasecarefullyconsidertherisksdiscussedunder“RiskFactors”inthisprospectussupplementbeginningonpageS-19ortheaccompanyingprospectusorinourreportsfiledwiththeSecuritiesandExchangeCommissionthatareincorporatedbyreferenceintheaccompanyingprospectusbeforemakingadecisiontoinvestinoursecurities. NaaSTechnologyInc.isnotanoperatingcompanybutaCaymanIslandsholdingcompany.OuroperationsareprimarilyconductedthroughoursubsidiariesinthePeople’sRepublicofChina(the“PRC”or“China”).InvestorsintheADSsthusarepurchasingequityinterestinaCaymanIslandsholdingcompanyandnotinanoperatingentity.Historically,theelectricvehicle(“EV”)chargingservicebusinessofNaaS(asdefinedbelow)inChinawasapartofthebusinessesofNewlinksTechnologyLimited,NaaS’scontrollingshareholder(“NewLink”),andwasprimarilyconductedthroughNewLink’sconsolidatedentities,includingKuaidianPower(Beijing)NewEnergyTechnologyCo.,Ltd.(“KuaidianPowerBeijing”)anditssubsidiaries.In2022,NaaScompletedaseriesoftransactionstorestructureitsorganizationanditsEVchargingservicebusiness(the“Restructuring”).AspartoftheRestructuring,DadaAutoInc.(“DadaAuto”),throughasubsidiary,ZhejiangAnjiIntelligentElectronicsHoldingCo.,Ltd.(“AnjiZhidian”),enteredintocontractualarrangements(the“VIEAgreements”)withKuaidianPowerBeijinganditsshareholders,asaresultofwhich(i)KuaidianPowerBeijinginitiallybecameavariableinterestentity(“VIE”)ofDadaAuto,and(ii)DadaAutobecameentitledtoreceivesubstantiallyalloftheeconomicbenefitsgeneratedbyKuaidianPowerBeijingasprimarybeneficiaryandwasresponsibleforanyandalleconomiclossesKuaidianPowerBeijingincurred.DuringtheprocessoftheRestructuring,theVIEAgreementswereterminatedinApril2022,andKuaidianPowerBeijingceasedbeingaVIEofDadaAuto.FollowingthecompletionoftheRestructuring,wedonothaveanyVIEs,andweconductour operationsinChinathroughoursubsidiaries.VIEstructuresinvolveuniqueriskstoinvestors.Formoredetails,see“Item3.KeyInformation—D.RiskFactors—RisksRelatedtoDoingBusinessinChina—Ourholdingcompanystructureinvolvesuniqueriskstoinvestors.IfinthefutureweweretoamendouroperatingstructuretouseanyVIEagainforouroperationsinChinaorifPRCregulatoryauthoritiesweretodisallowourholdingcompanystructure,additionalrisksanduncertaintieswillbeinvolved”inourannualreportonForm20-FfortheyearendedDecember31,2022(the“2022Form20-F”),whichisincorporatedintotheaccompanyingprospectusbyreference.Asusedinthisprospectussupplement,“NaaS”means(i)priortothecompletionoftheRestructuring,subsidiariesandVIEsofNewLinkthatprovidedEVchargingservicesinChina,and(ii)uponandafterthecompletionoftheRestructuring,DadaAuto,itssubsidiaries,andfortheperiodduringwhichDadaAutomaintainedVIEarrangementswithKuaidianPowerBeijing. OnFebruary8,2022,RISEEducationCaymanLtd(“RISE”)enteredintoanAgreementandPlanofMerger(the“MergerAgreement”)withDadaMergerSubLimited,anexemptedcompanyincorporatedwithlimited TableofContents liabilityunderthelawsoftheCaymanIslandsandawholly-ownedsubsidiaryofRISE(“MergerSub”),DadaMergerSubIILimited,anexemptedcompanyincorporatedwithlimitedliabilityunderthelawsoftheCaymanIslandsandawholly-ownedsubsidiaryofRISE(“MergerSubII”)andDadaAuto,pursuanttothetermsofwhich(i)MergerSubmergedwithandintoDadaAuto(the“Merger”),withDadaAutobeingthesurvivingentity(the“SurvivingEntity”)followingtheMerger,theseparatecorporateexistenceofMergerSubceasing,andDadaAutocontinuingasadirect,wholly-ownedsubsidiaryofRISE,and(ii)onJune10,2022,theSurvivingEntitymergedwithandintoMergerSubII(the“SecondMerger”,andtogetherwiththeMerger,the“Mergers”),withMergerSubIIbeingthesurvivingentity(the“SurvivingCompany”)followingtheSecondMerger,theseparatecorporateexistenceoftheSurvivingEntityceasing,andtheSurvivingCompanycontinuingasadirect,wholly-ownedsubsidiaryofRISE.TheMergerswereconsummatedonJune10,2022,uponwhichwechangedournamefrom“RISEEducationCaymanLtd”to“NaaSTechnologyInc.”andourtickerfrom“REDU”to“NAAS”andassumedandbeganconductingtheprincipalbusinessesofNaaS.ThenumberofClassAordinarysharesrepresentedbyeachADSwasalsochangedfromtwoClassAordinarysharesperADStotenClassAordinarysharesperADS.“We,”“us,”“our,”“ourcompany,”orthe“Company”means,uponandafterconsummationoftheMergers,Na