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Financial Data and Key Metrics Changes - In H1 2025, the company's net revenue was RMB 8.28 million (approximately USD 1.16 million), a decline compared to the previous year [11] - The gross loss for H1 2025 was RMB 10.71 million (approximately USD 1.5 million), contrasting with a gross profit of RMB 30,000 in the same period of 2024 [12] - Total operating expenses decreased by 53.5% to RMB 27.33 million (approximately USD 3.82 million) from the previous year's figure [12] - The net loss for H1 2025 was RMB 11.78 million (approximately USD 1.65 million), significantly reduced from a net loss of RMB 59.15 million in H1 2024 [14] - Cash and cash equivalents as of June 30, 2025, were RMB 363.44 million (approximately USD 50.77 million), up from RMB 32.43 million at the end of 2024 [14] Business Line Data and Key Metrics Changes - The decline in revenue was primarily attributed to decreased sales volume of the Apollo V series product [11] - Research and development expenses saw a drastic decrease of 89.1% to RMB 3.16 million (approximately USD 0.44 million) due to strategic adjustments in R&D activities [13] Market Data and Key Metrics Changes - The company is focusing on expanding its capital assets and strategic reserves in response to the evolving cryptocurrency market [6][7] - The strategic reserve is concentrated in BNB, reflecting the company's commitment to this cryptocurrency as a core asset [6][16] Company Strategy and Development Direction - The company is undergoing a major transformation, emphasizing cryptocurrency transactions and reserves as part of its strategic initiatives [6] - Plans include expanding into the stablecoin sector and leveraging opportunities in the Web3 and AI-driven markets [8] - The company aims to build a stable strategic layout through diversified approaches, including investments in companies with strong ecosystem synergies [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business strategy and the ability to execute it, focusing on technology strength to drive long-term growth [15] - The company remains vigilant for emerging opportunities in the Web3 space and aims to generate substantial value for stakeholders [8] Other Important Information - The company has undertaken strategic equity investments in CEA, a BNB reserve company, to solidify its BNB strategic reserve layout [7] Q&A Session Summary Question: Why has the company chosen BNB as its core reserve asset? - Management highlighted BNB's active ecosystem and long-term growth potential as key reasons for its selection [16] Question: Besides directly holding BNB, what parameters will the company take to strengthen its strategic reserves? - The company plans to adopt diversified approaches, including acquiring stakes in BNB strategic reserve companies and investing in synergistic enterprises [19] Question: Will the company consider reserving other cryptocurrencies or focus solely on BNB? - Currently, the focus remains on BNB, but the company will monitor other crypto assets for potential future diversification [22] Question: Does the company have any financing plans for 2025? - The company is considering various financing options to support the growth of its BNB strategic reserve fund [24]

Core Insights - Nano Labs Ltd has appointed Dr. Kailong Cai as the CEO of its subsidiary, Nano bit HK Limited, to drive strategic upgrades and oversee global operations [1] - Dr. Cai is a recognized expert in crypto finance with a Ph.D. in finance and extensive experience in both Chinese and U.S. financial markets [2] - The company aims to become a leading public cryptocurrency reserve enterprise in Asia, enhancing its asset strategies under Dr. Cai's leadership [4] Company Overview - Nano Labs Ltd is a prominent Web 3.0 infrastructure and product solution provider in China, focusing on high throughput computing (HTC) and high performance computing (HPC) chips [5] - The company has accumulated nearly US$170 million in mainstream digital currencies, including BNB and BTC, and has established an integrated platform across multiple business verticals [5]

Company Overview - Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China, focusing on high throughput computing (HTC) and high performance computing (HPC) chips [5] - The company has accumulated nearly US$170 million in mainstream digital currencies, including BNB and BTC, and has established an integrated platform covering multiple business verticals [5] Leadership Appointment - Dr. Kailong Cai has been appointed as the CEO of Nano bit HK Limited, a wholly-owned subsidiary of Nano Labs, responsible for driving strategic upgrades and overseeing global operations [1] - Dr. Cai is a renowned expert in crypto finance with a Ph.D. in finance and extensive experience in both Chinese and U.S. financial markets, including roles at Jasper Crypto Fund and Huobi Group [2][3] Strategic Vision - The appointment of Dr. Cai is expected to enhance Nano Labs' strategic reserves of core crypto assets and refine its asset-liability structure using capital market instruments [4] - The company aims to become a leading public cryptocurrency reserve company in Asia with global influence, providing investors with efficient and transparent access to crypto asset allocation [4]