Nano Labs (NA) Registration Filing summary

Company overview and business model

• Leading Web 3.0 infrastructure and product solution provider in China, specializing in HTC and HPC chips, with a comprehensive FPU architecture integrating both technologies.

• Actively positioned in the digital assets space, holding nearly $178 million in mainstream digital currencies, primarily BNB and BTC, as of August 28, 2025.

• Business covers HTC solutions (Cuckoo series chips as ASIC alternatives to GPUs), HPC solutions (Darkbird chips and iPollo Bitcoin mining machines), and distributed computing/data storage (Darksteel series).

• Plans to strengthen BNB reserves through accumulation, acquisitions, and investments in BNB-focused entities.

Financial performance and metrics

• Net revenues for 2024 were RMB 78.3 million, with a gross profit of RMB 40.6 million and a net loss of RMB 119.5 million.

• As of December 31, 2024, total assets were RMB 615.9 million ($85.7 million), with shareholders' equity at RMB 230.8 million.

• Cash and cash equivalents at year-end 2024 were RMB 32.8 million ($4.6 million).

• In 2024, acquired 361 Bitcoins at an average price of $99,765; as of August 28, 2025, held 600 BTC, 128,000 BNB, and 355,000 USDT.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in applicable prospectus supplements.

• Proceeds may be transferred through the holding structure to PRC subsidiaries via Hong Kong, subject to PRC regulations on loans and capital contributions.

• No current plan to pay cash dividends; cash is reinvested in business operations.