Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$1.98, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 65x in the Semiconductor industry in the US. Total loss to shareholders of 74% over the past year. New Risk • Jun 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (37% accrual ratio). Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Minor Risks Significant insider selling over the past 3 months (US$60k sold). Revenue is less than US$5m (CN¥27m revenue, or US$4.0m). Market cap is less than US$100m (US$40.6m market cap). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$2.00, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 68x in the Semiconductor industry in the US. Total loss to shareholders of 71% over the past year. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Li Zhang was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 23
Nano Labs Ltd to Report Second Half, 2025 Results on Mar 30, 2026 Nano Labs Ltd announced that they will report second half, 2025 results on Mar 30, 2026 Announcement • Mar 06
Nano Labs Launches iPollo ClawPC A1 Mini Nano Labs Ltd. announced the official launch of iPollo ClawPC A1 Mini, a new product under its sub-brand iPollo. This product is a dedicated hardware solution designed to efficiently and conveniently support the OpenClaw AI Agent System. Engineered to address diverse usage scenarios, including gaming, professional content creation, and smart office environments, it delivers an efficient, fluent, and localized AI-powered intelligent experience for users. OpenClaw is an open-source autonomous AI agent platform designed to build intelligent assistants capable of reasoning, retaining memory, and executing tasks across digital systems. It is an autonomous agent that can execute tasks via large language models, using messaging platforms as the main user interface. Nano Labs plans to subsequently launch iPollo Claw OS, along with a dedicated Skill Hub tailored for the OpenClaw ecosystem. The Company also intends to introduce additional OpenClaw-compatible hardware products through the iPollo Store. This product lineup aims to establish an integrated ecosystem spanning terminals and operating systems, as well as both hardware and software. Announcement • Dec 03
Nano Labs Ltd, Annual General Meeting, Dec 29, 2025 Nano Labs Ltd, Annual General Meeting, Dec 29, 2025, at 21:00 China Standard Time. Location: 12f, china yuangu hanggang technology building, 509 qianjiang road, shangcheng district, zhejiang, 310000., hangzhou China Announcement • Oct 15
Nano Labs Ltd (NasdaqGM:NA) announces an Equity Buyback for $25 million worth of its shares. Nano Labs Ltd (NasdaqGM:NA) announces a share repurchase program. Under the program, the company will repurchase up to $25 million worth of its shares. The repurchases will be funded from company's cash balance and proceeds from liquidation of crypto assets. The program will be valid for 12 months. Reported Earnings • Sep 22
First half 2025 earnings released: CN¥0.43 loss per share (vs CN¥8.46 loss in 1H 2024) First half 2025 results: CN¥0.43 loss per share (improved from CN¥8.46 loss in 1H 2024). Net loss: CN¥7.05m (loss narrowed 88% from 1H 2024). Announcement • Aug 21
Nano Labs Ltd has filed a Follow-on Equity Offering in the amount of $45 million. Nano Labs Ltd has filed a Follow-on Equity Offering in the amount of $45 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Aug 20
First half 2025 earnings released: CN¥0.43 loss per share (vs CN¥8.46 loss in 1H 2024) First half 2025 results: CN¥0.43 loss per share (improved from CN¥8.46 loss in 1H 2024). Net loss: CN¥7.05m (loss narrowed 88% from 1H 2024). New Risk • Aug 17
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: CN¥24m (US$3.4m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (229% increase in shares outstanding). Minor Risks Revenue is less than US$5m (CN¥24m revenue, or US$3.4m). Market cap is less than US$100m (US$93.8m market cap). New Risk • Aug 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$97.1m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (229% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$97.1m market cap). Announcement • Aug 08
Nano Labs Ltd to Report First Half, 2025 Results on Aug 15, 2025 Nano Labs Ltd announced that they will report first half, 2025 results on Aug 15, 2025 Announcement • Aug 05
Kyrgyz Republic Approved to Proceed with Nano Labs Ltd Cnh-Pegged Stablecoin Initiative Nano Labs Ltd. announced receipt of approval from the Kyrgyz Republic to proceed with its proposal to issue a stablecoin pegged to the offshore Chinese Yuan (CNH) within the country. According to an official letter from both the National Investment Agency under the President of the Kyrgyz Republic and the National Council for the Development of Virtual Assets and Blockchain Technologies under the President of the Kyrgyz Republic, the Proposal has been reviewed by senior authorities within the Presidential Administration and has received clearance to proceed. The stablecoin project (the “Project”) aims to support the growing trade and economic cooperation between China and Kyrgyzstan-facilitate cross-border settlements, expand investment opportunities, and increase transparency of operations in the digital financial space. In line with recommendations from the Kyrgyz authorities, Nano Labs will submit a comprehensive white paper and key technical documentation. The Company will continue to collaborate closely with all relevant stakeholders to ensure the Project’s steady and compliant execution. Concurrently, Nano Labs announced its decision to formally forgo plans to apply for an HKD- or CNH-pegged stablecoin project in the Hong Kong SAR. The Company will instead redirect its resources toward developing stablecoin initiatives in Belt and Road countries. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Li Zhang was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 24
Nano Labs Ltd Appoints Can Yang as Senior Vice President of Subsidiary Nano bit HK Limited Nano Labs Ltd. announced the appointment of Ms. Can Yang as senior vice president of its wholly-owned subsidiary, Nano bit HK Limited (“Nano bit”). Ms. Yang will be responsible for leading the execution of Nano bit’s digital currency strategic reserves initiatives and supporting its steady and sustainable growth within the global crypto financial ecosystem. Ms. Yang brings more than 15 years of experience in finance and investment, spanning both fields of Web2 industries and crypto assets sector. Since 2018, she has been a founding partner at Aquarius Capital, overseeing a $600 Million+ Bitcoin liquidity fund. In this role, she led direct investments and liquidity provisioning for projects across Layer 1 ecosystems—including but not limited to Sui, Sei, Base, and Babylon. Prior to entering the crypto industry, Ms. Yang held several senior roles in the traditional financial sector. From 2016 to 2018, she served as investment director at Hanfor Capital Management Ltd., where she participated in the B round of financing of NIO Inc. and successfully exited upon its IPO. From 2012 to 2016, she served as a senior investment manager at a leading aerospace investment firm, where she participated in billion-dollar fundraising initiatives and managed billion-RMB funds. Earlier in her career, from 2008 to 2010, she worked at Deloitte, contributing to high-profile projects for clients including top-tier companies in the infrastructure, conglomerate, and aviation sectors, and participated in annual and internal control audits for several publicly listed companies. Announcement • Jul 17
Nano Labs Appoints Dr. Kailong Cai as CEO of Subsidiary Nano bit to Lead Global Crypto Reserve Strategy Nano Labs Ltd. announced the appointment of Dr. Kailong Cai as the chief executive officer (“CEO”) of its wholly-owned subsidiary, Nano bit HK Limited (“Nano bit”). Dr. Cai will be fully responsible for driving Nano bit’s strategic upgrade and overseeing its global operations. This appointment marks a significant step in the Company’s ongoing evolution into a world-leading, publicly listed cryptocurrency reserve enterprise. Dr. Cai is a renowned expert in crypto finance, with a strong academic background and extensive international experience. He holds a Ph.D. in finance with deep and broad background in both Chinese and U.S. financial markets. From 2020 to 2025, Dr. Cai served as a partner at Jasper Crypto Fund. From 2017 to 2018, Dr. Cai served as the chief strategy officer of Huobi Group (currently known as HTX), a global leader in crypto asset trading, as well as CEO of its U.S. subsidiary, where he led the development and execution of the company’s globalization strategy. Prior to that, he worked for approximately 6 years at Deutsche Bank on Wall Street, specializing in financial product innovation, risk management, and technology-driven business optimization. With over a decade of experience in fintech and asset management, Dr. Cai brings a wealth of knowledge to his new role. Dr. Cai is a chartered financial analyst (CFA) and financial risk manager (FRM), with deep expertise in fintech, blockchain, and asset management. Announcement • Jun 27
Nano Labs Ltd has filed a Follow-on Equity Offering in the amount of $50 million. Nano Labs Ltd has filed a Follow-on Equity Offering in the amount of $50 million.
Security Name: Class A ordinary shares
Security Type: Common Stock
Securities Offered: 5,952,381
Price\Range: $8.4
Discount Per Security: $0.59
Transaction Features: Registered Direct Offering Announcement • Jun 25
Nano Labs Ltd announced that it expects to receive $500 million in funding Nano Labs Ltd announced that it has entered into a securities purchase agreement to issue convertible promissory notes for the gross proceeds of $500,000,000 on June 24, 2025. The conversion price is initially $20 per ordinary share, subject to adjustment as set forth in the notes. The Notes will mature in 360 days following the issuance, with no interest accruing on the outstanding principal amount. The notes shall be an unsecured general obligation of the Company. Reported Earnings • Apr 14
Full year 2024 earnings released: CN¥14.06 loss per share (vs CN¥43.20 loss in FY 2023) Full year 2024 results: CN¥14.06 loss per share (improved from CN¥43.20 loss in FY 2023). Net loss: CN¥113.2m (loss narrowed 56% from FY 2023). Announcement • Mar 18
Nano Labs Ltd to Report Fiscal Year 2024 Results on Mar 25, 2025 Nano Labs Ltd announced that they will report fiscal year 2024 results at 9:30 AM, US Eastern Standard Time on Mar 25, 2025 New Risk • Feb 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$94.3m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (52% average weekly change). Negative equity (-CN¥30m). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (177% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$94.3m market cap). Announcement • Jan 23
Nano Labs Ltd Launches Next-Generation V2 Series Home Mining Equipment, Ushering in A New Era of Easy Crypto Mining Nano Labs Ltd. announced the launch of its next-generation V2 Series home mining equipment. The V2 Series includes two models, i.e., V2H and V2X, showcasing the Company's commitment to advancing the crypto mining industry and driving the adoption of cutting-edge crypto infrastructure. Designed specifically for home environments, the V2 Series offers enhanced computational performance and energy efficiency, providing users with a seamless and convenient mining experience. The V2H model boasts a hash rate of 3400+-10% Megahashes per second (MH/s) with a power consumption of 475+-10% Watts (W), while the V2X delivers a hash rate of 1200+-10% MH/s with an ultra-low power consumption of just 165+-10% W. This makes the V2 series an eco-friendly and practical solution for home users. The V2 Series is designed with technological sophistication and multi-scenario usability in mind. Equipped with a smart display, users can easily monitor real-time operational status and key parameters, enhancing user interaction and convenience. Additionally, the optimized silent cooling system ensures low noise levels, making the V2 Series ideal for home use even during extended operation periods. Prioritizing environmental sustainability into its design, the V2 Series employs a modular structure that enhances maintainability and scalability, significantly extending product lifespan and reducing electronic waste. These features align with the Company's mission to provide sustainable and future-ready mining solutions. Since introducing the iPollo G1 home miner in 2020, Nano Labs has continually refined its product offerings, including the Cuckoo Series, Darksteel Series, iPollo V1 Series, and now the iPollo V2 Series. With advancements in hash rate and energy efficiency, particularly in the V2 Series, Nano Labs has significantly reduced power consumption while boosting performance. These innovations empower households to participate in the blockchain ecosystem and capitalize on the digital economy's opportunities. The launch of the V2 Series reflects strategic vision and commitment to innovation. By pioneering home mining equipment, the company aim to deliver long-term value and substantial returns for shareholders. Announcement • Dec 26
Nano Labs Ltd Launches FPU3.0 ASIC Design Architecture with 3D DRAM Stacking for AI and Blockchain Innovation Nano Labs Ltd. announced the launch of FPU3.0, an ASIC architecture designed to enhance artificial intelligence (AI) inference and blockchain performance. Featuring advanced 3D DRAM stacking technology, FPU3.0 delivers a fivefold boost in power efficiency over the previous FPU2.0 architecture, setting a new standard for energy-efficient, high-performance ASICs. This latest advancement highlights the Company's robust research and development capabilities in adopting cutting-edge technologies and its commitment to driving innovation and widespread adoption in the AI and cryptocurrency industry. The FPU series represents Nano Labs' proprietary set of ASIC chip design architectures, purpose-built for high-bandwidth High Throughput Computing (HTC) applications. Such ASIC chips are optimized for specific functions or applications, typically delivering lower power consumption and higher computational efficiency than general-purpose CPUs and GP-GPUs. These ASICs are increasingly utilized in AI inference, edge AI computing, data transmission processing under 5G networks, network acceleration, and more. The Nano FPU architecture comprises four fundamental modules and IPs: the Smart NOC (Network-on-Chip), the high-bandwidth memory controller, the chip-to-chip interconnect IOs, and the FPU core. This modular provides remarkable flexibility, enabling rapid product iteration by updating the FPU core IP while reusing or upgrading other IPs and modules as needed - often sufficient to introduce new features. Notably, the FPU3.0 architecture incorporates stacked 3D memory with a theoretical bandwidth of 24TB/s and an upgraded Smart-NOC on-chip network. This network supports a mix of large and small compute cores, full-crossbar, and feed-through traffic types on the bus. The FPU3.0 architecture holds the potentials to excel in various fields, delivering superior performance, lower power consumption, and faster product iteration cycles. Announcement • Dec 11
Nano Labs Ltd announced that it expects to receive $36.250025 million in funding Nano Labs Ltd announced a private placement of 5,611,459 Class A ordinary shares at a price of $6.46 per share for the gross proceeds of $36,250,025 on December 9, 2024. The closing may take place on a non-contemporaneous basis in 10 business days, subject to customary closing conditions. Announcement • Nov 22
Nano Labs Ltd Launches Second-Generation V Series with 5X Power Efficiency Boost Nano Labs Ltd. announced that it has launched its second-generation V Series products. Powered by the advanced Cuckoo 3.0 chips, such new generation series consisting of V2, V2H and V2X models sets new benchmarks for performance and energy efficiency in the crypto mining industry. The V2H and V2X models deliver nearly four times the computing power of their first-generation counterparts. With such an improvement in overall power efficiency, the V2 Series solidifies its position as one of the most efficient mining solutions on the market. Beyond its exceptional performance, the V2 Series boasts upgraded hardware configurations, enhanced heat dissipation systems and greater resistance to high temperatures. These advancements ensure more stable and efficient operation, offering users reliable and cost-effective mining solutions designed for long-term performance. Continuing a Legacy of Innovation in Digital Mining Solutions: Nano Labs has engaged in crypto mining chip design and solutions since 2022, when it launched the B1L product featuring the Darkbird 1.0 chip for BTC mining. This innovation was followed by the introduction of the first-generation V1 Series, powered by the Cuckoo 2.0 chip for ETH mining. The V1 lineup, which included models such as the V1, V1mini, X1, and V1H, earned widespread acclaim for their competitive advantages and robust reliability within the industry. Building on this legacy, the launch of the second-generation V Series underscores Nano Labs' commitment to advancing technologies and addressing the evolving demands of the crypto mining market. Nano Labs remains dedicated to enhancing its R&D capabilities and exploring new opportunities in the Web3.0 space. With a clear focus on innovation and market expansion, the Company aims to deliver next-generation solutions that redefine industry standards and empower the digital economy. Announcement • Nov 20
Nano Labs Regains Compliance with Nasdaq Minimum Bid Price Requirement Nano Labs Ltd. (Nasdaq: NA) announced that it received a notification letter (the “Notification Letter on Compliance”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (“Nasdaq”) on November 18, 2024, indicating that the Company has regained compliance with the minimum bid price requirement set in Rule 5450(a)(1) of the Nasdaq Listing Rules. As previously announced, on May 23, 2024, the Nasdaq notified the Company of its non-compliance with the Nasdaq’s minimum bid price requirement due to its failure to maintain a minimum bid price of USD 1 per share. According to the Notification Letter on Compliance, the staff of Nasdaq has determined that for the last 10 consecutive business days, from November 4 through November 15, 2024, the closing bid price of the Company’s Class A ordinary shares had been at USD 1.00 per share or greater, and the Company has regained compliance with Rule 5450(a)(1) of the Nasdaq Listing Rules. Announcement • Sep 24
Nano Labs Ltd, Annual General Meeting, Oct 23, 2024 Nano Labs Ltd, Annual General Meeting, Oct 23, 2024, at 10:00 China Standard Time. Location: china yuangu hanggang technology building, 509 qianjiang road, shangcheng district, hangzhou, zhejiang, 310000, China Announcement • Sep 16
Nano Labs Ltd to Report First Half, 2024 Results on Sep 18, 2024 Nano Labs Ltd announced that they will report first half, 2024 results on Sep 18, 2024 Announcement • Jul 14
Nano Labs Announces Receipt of Deficiency Letters from Nasdaq Nano Labs Ltd. announced that it received a notification letter dated July 11, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market Inc. notifying that the Company is no longer in compliance with the Nasdaq Listing Rule 5450(b)(2)(C) for continued listing due to its failure to maintain a minimum of Market Value of Publicly Held Shares of USD 15.0 million. The Deficiency Letter does not result in the immediate delisting of the Company's Class A ordinary shares on the Nasdaq Global Market. The Company has 180 calendar days from the date of the Deficiency Letters, or until January 7, 2025 (the "Compliance Period"), to regain compliance the minimum MVPHS requirement. If at any time during the Compliance Period, the Company's MVPHS is at least USD 15.0 million for a minimum of 10 consecutive business days, Nasdaq will provide the Company with a written confirmation of compliance with the minimum MVPHS requirement, and the matter will be closed. The Company's management is looking into various options available to regain compliance and maintain its continued listing on the Nasdaq Global Market. Announcement • May 23
Nano Labs Launches New Product Cuckoo3.0 Chip with Significant Improvements in Performance and Energy Efficiency Nano Labs Ltd. announced that it has launched its latest generation in the Cuckoo series, Cuckoo3.0 chip and achieved the mass production. Cuckoo3.0 represents a significant leap in performance and energy efficiency compared to its predecessor, the Cuckoo2.0 chip. With an outstanding single-core computing power of 1.2GH/s, Cuckoo3.0 boasts approximately four times the functional performance of Cuckoo2.0. Additionally, its single-core energy consumption has been drasticallyreduced to 0.14W/MHash, marking an 83% improvement in energy efficiency. Cuckoo3.0 is expected to be integrated into the Company's next-generation V series products, reinforcing the Company's commitment to pushing the boundaries of technology in the Web3.0 industry. Recent Insider Transactions Derivative • Apr 19
Director notifies of intention to sell stock Nan Hu intends to sell 350k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of April. If the sale is conducted around the recent share price of US$0.66, it would amount to US$231k. Since December 2023, Nan has owned 1.93m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. New Risk • Apr 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$58.1m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Negative equity (-CN¥16m). Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$58.1m market cap). Announcement • Apr 13
Nano Labs Ltd has filed a Follow-on Equity Offering in the amount of $5 million. Nano Labs Ltd has filed a Follow-on Equity Offering in the amount of $5 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,347,825
Price\Range: $1.15
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 6,521,737
Transaction Features: Registered Direct Offering Reported Earnings • Apr 09
Full year 2023 earnings released Full year 2023 results: Revenue: CN¥78.3m (down 92% from FY 2022). Net loss: CN¥254.4m (down CN¥285.5m from profit in FY 2022). Announcement • Mar 13
Nano Labs Ltd to Report Second Half, 2023 Results on Mar 18, 2024 Nano Labs Ltd announced that they will report second half, 2023 results on Mar 18, 2024