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Nano Labs Announces Fourth Quarter 2022 Financial Results
HANGZHOU, China, March 14, 2023 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading fabless integrated circuit
About this update from Nano Labs Ltd
[{"type":"text","content":"HANGZHOU, China, March 14, 2023 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, today announced its unaudited financial results as of December 31, 2022 and for the three months ended December 31, 2022. Fourth Quarter 2022 Financial Highlights Net revenue was RMB12.7 million (US$1.8 million) for the three months ended December 31, 2022, compared to a net revenue of RMB3.2 million in the same period of 2021.Gross loss was RMB76.6 million (US$11.0 million) for the three months ended December 31, 2022, compared to a gross loss of RMB23.8 million for the same period of 2021.Loss from operations was RMB136.9 million (US$19.7 million) for the three months ended December 31, 2022, compared to a loss from operations of RMB136.8 million in the same period of 2021.Net loss was RMB132.8 million (US$19.1 million) for the three months ended December 31, 2022, compared to a net loss of RMB135.5 million in the same period of 2021.Net loss per ordinary share (both basic and diluted) was approximately RMB1.19 (US$0.17) for the three months ended December 31, 2022, compared to a loss per ordinary share (both basic and diluted) of RMB1.32 in the same period of 2021. Mr. Jianping Kong, Chairman and Chief Executive Officer of the Company, commented, “The management team went overseas and discussed the trends with industrial pioneers, and strive to find new market opportunities as well as expand overseas markets, aiming to mitigate the impact from the conversion of Ethereum mainnet from proof-of-work (“POW”) to proof-of-stake (“POS”) in mid-September. At the same time, our company is actively exploring and researching the fields of zero-knowledge (“ZK”) and AI-generated content (“AIGC”) computations, and had launched our newly self-developed A-series iPollo computing devices with ZK and AIGC computing capabilities embedded. The A-series iPollo computing devices adopt high-performance graphics cards with large memory and high-core central processing units (“CPUs”), ensuring low power consumption and easy management while maintaining stable operation in high computing power, which can more efficiently support ZK and AIGC computations. In addition, our iPollo Metaverse, previously known as Ipolloverse, which the Company expects...