This article only represents the author's own views.
For years Chinese companies operated on the view that bigger was better, no matter what the cost. Subsidies were a big part of that equation in the race for market share, and so was a focus on business that could generate big revenues, even if it meant selling at a loss.
That view is starting to shift as investors demand profits from companies – a new reality that was a primary driver leading EV charging services company NaaS Technology Inc. (NAAS.US) to overhaul its business model to focus on its most profitable products and customers. That drive is yielding strong results this year, as NaaS last Wednesday reported its first-ever non-IFRS quarterly profit and its lowest-ever IFRS net loss.