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    Min 'Kelly' Zou

    Senior Vice President and Equity Research Analyst at Jefferies Financial Group Inc.

    Min 'Kelly' Zou is a Senior Vice President and Equity Research Analyst at Jefferies Financial Group Inc., specializing in coverage of Asian industrials and autos, with a particular focus on companies such as Zhuzhou CRRC Times Electric and NaaS Technology. Zou has delivered notable investment calls including a strong buy rating on NaaS Technology and maintains consistent, well-considered ratings across her coverage, contributing to sector performance metrics such as top quartile industry rankings. Beginning her career in financial research in the early 2010s and joining Jefferies in the past several years, Zou has participated in regional broker polls and achieved peer recognition for her research quality. She holds FINRA registration and relevant securities licenses, underpinning her standing as a respected sell-side analyst in the Hong Kong and Asia-Pacific equity research community.

    Min 'Kelly' Zou's questions to NaaS Technology (NAAS) leadership

    Min 'Kelly' Zou's questions to NaaS Technology (NAAS) leadership • Q1 2024

    Question

    Min 'Kelly' Zou from Jefferies inquired about the EV charging market's growth trends and investment sentiment, NaaS's strategy to capture this growth, and the drivers behind the significant reduction in sales and marketing expenses.

    Answer

    CSO Vivian Wu Ye explained that rising EV penetration and a fragmented, localized operator market create opportunities for NaaS's 'ABC' strategy (Analytics, BD team, Connectivity). President & CFO Alex Wu added that sales and marketing costs fell due to high organic user acquisition (70%) via its ecosystem, improved ROI on subsidies through AI, and expansion into less marketing-intensive business lines.

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