China's EV and charging service market has maintained a rapid growth rate, and NewLink is stepping up to play its role.
NewLink Group ("NewLink", "Company"), a Beijing-based digital energy service provider, announced on January 7 that it has recently closed a series of financing rounds totaling CNY 900 million through its subsidiaries. These subsidiaries include NaaS Technology (NAAS:NASDAQ), NewLink Integrated Energy Port and NewLink Corporate Solutions.
The current round came after an earlier round from CR Capital Management announced in early 2022 and NaaS's pre-IPO financing, bringing NewLink Group's total fundraising to CNY 1.87 billion in 2022.
NaaS Technology offers a one-stop solution for charger manufacturers, charging operators, OEMs, enterprises and fleets. It offers online, offline and non-electric services covering the entire value chain of the electric vehicle industry.
It has been listed on Nasdaq on June 13, 2022, thus becoming China's first publicly-listed charging services provider. NaaS's share price surged over 67.7% during 2022, ranking among the top 10 China Concepts Stock in terms of annual share price growth.
On November 30, 2022, NaaS entered into a private placement agreement with an institutional investor for a placement of USD 30 million (about CNY 210 million).
NewLink's corporate energy management service provider, NewLink Corporate Solutions, provides one-stop digital energy management solutions for clients in multiple sectors, including Xiaomi Group, China Express, China Merchants Bank and Longfor Group. It has the business mandate to help enterprises upgrade energy management, reduce costs and increase efficiency by leveraging digital tools. NewLink Corporate Solutions received CNY 400 million in the current round of fundraising.
NewLink Integrated Energy Port another subsidiary of NewLink, received CNY 300 million in this round. As an energy asset operator, NewLink Integrated Energy Port empowers gas stations to upgrade into new energy retailing businesses with seven major capabilities including branding, traffic management, digitalization and new energy. It also plays a major role in creating integrated energy ports and popular checkpoints, and manages to build a new ecosystem around energy new retail.