# EDGAR Filing Document

**Accession Number:** 0001712178
**File Stem:** 0000000000-23-001947
**Filing Date:** 2023-2
**Character Count:** 7547
**Document Hash:** 3f167ea6e26c8f6c49b0e5cb50596665
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-001947.hdr.sgml**: 20230518

**ACCESSION NUMBER**: 0000000000-23-001947

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230227

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NaaS Technology Inc.
- **CENTRAL INDEX KEY:** 0001712178
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-RETAIL STORES, NEC [5990]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** NEWLINK CENTER, AREA G, BLDG. 7,HUITONG
- **STREET 2:** TIMES SQUARE, NO.1 YAOJIAYUAN SOUTH RD,
- **CITY:** CHAOYANG DISTRICT, BEIJING
- **STATE:** F4
- **ZIP:** 100024
- **BUSINESS PHONE:** 861085511066

**MAIL ADDRESS:**
- **STREET 1:** NEWLINK CENTER, AREA G, BLDG. 7,HUITONG
- **STREET 2:** TIMES SQUARE, NO.1 YAOJIAYUAN SOUTH RD,
- **CITY:** CHAOYANG DISTRICT, BEIJING
- **STATE:** F4
- **ZIP:** 100024

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RISE Education Cayman Ltd
- **DATE OF NAME CHANGE:** 20170718
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001193125-22-150252

## Text-Extract

```

United States securities and exchange commission logo

                             February 27, 2023

       Alex Wu
       Chief Financial Officer
       NaaS Technology Inc.
       Newlink Center, Area G, Building 7
       Huitong Times Square
       No.1 Yaojiayuan South Road, Chaoyang District
       Beijing, 100024, The People's Republic of China

                                                        Re: NaaS Technology
Inc.
                                                            Shell Company
Report on Form 20-F
                                                            Response Dated
February 14, 2023
                                                            File No. 001-38235

       Dear Alex Wu:

               We have reviewed your February 14, 2023 response to our comment
letter and have the
       following comment. In our comment, we may ask you to provide us with
information so we may
       better understand your disclosure.

              Please respond to this comment within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comment applies to your facts and circumstances, please tell us why in
your response.

              After reviewing your response to this comment, we may have
additional
       comments. Unless we note otherwise, our references to prior comments are
to comments in our
       January 31, 2023 letter.

       Shell Company Report on Form 20-F Filed June 16, 2022

       Dada Auto Inc.
       Combined Statements of Loss and Other Comprehensive Loss, page F-49

   1.                                                   We note your response
to comment 3. It appears your basis for reclassifying "excess"
                                                        incentives from
negative revenue to selling and marketing expenses is that IFRS 15 does
                                                        not explicitly address
the presentation of negative revenue, the TRG did not provide
                                                        application guidance
when asked, and IFRIC similarly did not address this topic.
                                                        However, IFRS 15.70
requires consideration payable to a customer to be accounted for as
                                                        a reduction of the
transaction price and, therefore, of revenue (unless the payment to the
                                                        customer is in exchange
for a distinct good or service that the customer transfers to the
 Alex Wu
NaaS Technology Inc.
February 27, 2023
Page 2
         entity). You state that the purpose of incentives is to "encourage
user engagement." This
         does not appear to be consideration payable for a distinct good or
service from the
         customer. IFRS 15 does not limit the extent to which incentives should
reduce recorded
         revenues for a transaction. Therefore, we believe you should revise to
report incentives
         that were reclassified as selling and marketing expenses as a
reduction of the transaction
         price (i.e., a reduction of revenue). Refer to IFRS 15.70 and 15.72.

       You may contact Stephen Kim at 202-551-3291 or Lyn Shenk at 202-551-3380
if you
have any questions.

FirstName LastNameAlex Wu                                     Sincerely,
Comapany NameNaaS Technology Inc.
                                                              Division of
Corporation Finance
February 27, 2023 Page 2                                      Office of Trade &
Services
FirstName LastName

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549

February 27, 2023

Alex Wu  
Chief Financial Officer  
NaaS Technology Inc.  
Newlink Center, Area G, Building 7  
Huitong Times Square  
No.1 Yaojiayuan South Road, Chaoyang District  
Beijing, 100024, The People's Republic of China

**Re: NaaS Technology Inc.  
Shell Company Report on Form 20-F  
Response Dated February 14, 2023  
File No. 001-38235**

Dear Alex Wu:

We have reviewed your February 14, 2023 response to our comment letter and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response.

After reviewing your response to this comment, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our January 31, 2023 letter.

Shell Company Report on Form 20-F Filed June 16, 2022

Dada Auto Inc.

Combined Statements of Loss and Other Comprehensive Loss, page F-49

1. We note your response to comment 3. It appears your basis for reclassifying 'excess' incentives from negative revenue to selling and marketing expenses is that IFRS 15 does not explicitly address the presentation of negative revenue, the TRG did not provide application guidance when asked, and IFRIC similarly did not address this topic. However, IFRS 15.70 requires consideration payable to a customer to be accounted for as a reduction of the transaction price and, therefore, of revenue (unless the payment to the customer is in exchange for a distinct good or service that the customer transfers to the

Alex Wu
NaaS Technology Inc.
February 27, 2023
Page 2

entity). You state that the purpose of incentives is to "encourage user engagement." This does not appear to be consideration payable for a distinct good or service from the customer. IFRS 15 does not limit the extent to which incentives should reduce recorded revenues for a transaction. Therefore, we believe you should revise to report incentives that were reclassified as selling and marketing expenses as a reduction of the transaction price (i.e., a reduction of revenue). Refer to IFRS 15.70 and 15.72.

You may contact Stephen Kim at 202-551-3291 or Lyn Shenk at 202-551-3380 if you have any questions.

Sincerely,

Division of Corporation Finance
Office of Trade & Services