NaaS.US, a leading electric vehicle charging station operator, surged more than 28% during the morning session on Wednesday.

Wednesday, NaaS.US, New Energy Chain Electric, once rose more than 28% during the day, and closed up more than 6%, at $6.05. Earlier, New Energy Chain Electric released its 2024 Q2 and H1 financial report, and made great progress in profitability.

The data shows that New Energy Chain Electric achieved its first single month operating profit in June, and the proportion of profitable orders for charging services exceeded 70%, setting a new record. At the same time, the profit level continued to rise, and the operating income in Q2 2024 reached Rmb91.7 million (US$12.6 million), up 89% YoY. The company's goal is to continue to make a profit in the third and fourth quarters.

In addition, the net loss and net loss rate of the company decreased significantly, reaching a historical low; the gross margin increased by 59% YoY, to Rmb30.5 million (US$4.2 million).

The company said that the improvement in profitability was due to the release of the core charging service scale effect, the enhancement of the platform's bargaining power, and the increase in the number of users due to the expansion of the industrial ecology.