Nano Labs Ltd Announces up to US$25.0 Million Share Repurchase Program

Core Viewpoint - Nano Labs Ltd has announced a share repurchase program authorizing the repurchase of up to US$25.0 million worth of its shares within the next 12 months, subject to market conditions [1]. Group 1: Share Repurchase Program - The share repurchase program allows the company to buy back its ordinary shares through various methods including open market transactions and block trades, in compliance with applicable securities laws [2]. - The timing and number of shares to be repurchased will depend on factors such as price, trading volume, market conditions, and the company's working capital requirements [2]. - The repurchases will be funded from the company's existing cash balance and proceeds from the liquidation of crypto assets [2]. Group 2: Company Overview - Nano Labs Ltd is a leading provider of Web 3.0 infrastructure and product solutions, focusing on the development of high throughput computing (HTC) and high-performance computing (HPC) chips [3]. - The company has established a comprehensive flow processing unit (FPU) architecture that integrates features of both HTC and HPC [3]. - Nano Labs has positioned itself in the crypto assets space, primarily adopting BNB as its reserve asset and holding mainstream cryptocurrencies including BNB and BTC [3].