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 $170 million in mainstream digital currencies, primarily BNB and BTC, and adopting BNB as the primary reserve asset.

• Integrated solution platform covers HTC solutions (Cuckoo series chips as ASIC alternatives to GPUs) and HPC solutions (Darkbird chips and iPollo Bitcoin mining machines), with additional distributed computing and storage products.

• Operations are conducted primarily through subsidiaries in China and Hong Kong, with a Cayman Islands holding company structure.

Financial performance and metrics

• Net revenues for 2024 were RMB 78.3 million, with a gross profit of RMB 40.6 million and an operating loss of RMB 98.5 million.

• As of December 31, 2024, total assets were RMB 615.9 million, with cash and cash equivalents of RMB 32.4 million and cryptocurrencies valued at RMB 33.8 million.

• In 2024, acquired 361 Bitcoins at an average price of $99,765 each; as of August 1, 2025, held 606 Bitcoins and 128,000 BNBs.

• Net cash used in operating activities in 2024 was RMB 139.3 million, with a year-end cash balance of RMB 32.8 million.

Use of proceeds and capital allocation

• Net proceeds from securities offerings will be used as set forth in the applicable prospectus supplement.

• Proceeds may be transferred through the holding company structure to PRC subsidiaries via capital contributions or loans, subject to PRC regulations.

• No present plan to pay cash dividends; all PRC subsidiary profits are reinvested in the business.