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Nano Labs Announces Second Half of 2024 Financial Results
HONG KONG, March 25, 2025 /PRNewswire/ -- Nano Labs Ltd (Nasdaq: NA) ("we," the "Company" or "Nano Labs"), a leading fabless integrated circuit design company
About this update from Nano Labs Ltd
[{"type":"text","content":"HONG KONG, March 25, 2025 /PRNewswire/ -- 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, 2024 and for the six months ended December 31, 2024.\n\nSecond Half of 2024 Financial Highlights\nNet revenue was RMB15.9 million (US$2.2 million) for the second half of 2024, compared to RMB26.1 million in the same period of 2023.Gross profit was RMB11.6 million (US$1.6 million) for the second half of 2024, compared to a gross loss of RMB40.6 million in the same period of 2023.Loss from operations was RMB39.8 million (US$5.5 million) for the second half of 2024, compared to a loss from operations of RMB124.4 million in the same period of 2023.Net loss was RMB60.4 million (US$8.4 million) for the second half of 2024, compared to a net loss of RMB120.0 million in the same period of 2023.Net loss per share (both basic and diluted) was RMB6.01 (US$0.84) for the second half of 2024, compared to a net loss per share (both basic and diluted) of RMB19.12 in the same period of 2023.Mr. Jianping Kong, Chairman and Chief Executive Officer of the Company, commented, \"The year 2024 brings many opportunities as the Company expanded its business. We have formally established Bitcoin value investment as a new business sector and adopting Bitcoin as our primary reserve asset. As of the date of this press release, the Company holds about 400 BTC with a total purchase price of around $40 million.\nFurthermore, in December 2024, we released upgraded complete machine equipped with the Cuckoo 3.0 iteration chip, which shows enhanced performance that achieves world-leading standard. This important improvement provides us with a key advantage to grow our market share. With the accelerated evolution of AI, we plan to create AI applications within the Web3.0 ecosystem and focus on integrating AI with Web3.0 technologies.\nThrough our visionary strategic planning and persistent execution, we remain committed to deepening our expertise in the Web3.0 domain. We believe we are able to create great value and deliver strong results for our supporters.\"\nMr. Bing Chen, Chief Financial Officer of the Company, commented, \"for the second half of 2024, our net revenue was RMB15.9 million (US$2....