NAAS.US expects the charging volume to increase by 80% year-on-year in 2023, and the profit on the order side continues to expand.

On March 8th, the latest operating data disclosed by Nenglian Zhidian (NAAS.US) showed that with significantly improved operational efficiency, its charging service business maintained rapid growth. It is expected that the charging volume in 2023 will increase by 80% year-on-year, far exceeding the 55.8% year-on-year growth rate of Shanxi Guoxin Energy Corporation's total number of vehicles in 2023. In addition, its profitability on the order side continued to expand in February on the basis of turning positive in January. Nenglian Zhidian's total charging volume in 2022 was 2.753 billion kilowatt-hours, and according to its latest estimate, the charging volume of Nenglian Zhidian in 2023 may reach 5 billion kilowatt-hours. This is equivalent to 3.3 times the public charging volume in the United States in 2023 and 60% of the public charging volume in Europe. Over the past year, Nenglian Zhidian's interconnected business has expanded the number of vehicle owners and improved the coverage of charging stations, thereby creating network effects and gradually turning its order-side profitability from negative to positive on a monthly basis. Data shows that Nenglian Zhidian's order-side profitability has continued to grow positively for five consecutive months. From -8.14% in September 2023, it turned positive for the first time in January to 0.02% of positive profits, and further expanded to 0.75% in February. Previously, Nenglian Zhidian estimated its full-year revenue in 2023 to be between 310 million yuan ($44 million) and 330 million yuan ($46 million), with a year-on-year growth rate of 234% to 256%. Earlier this year, Nenglian Holdings, the parent company of Nenglian Zhidian, also announced that its refined oil business sector has been profitable as a whole.