Group 1 - Nano Labs Ltd has purchased 74,315 Binance Coin (BNB) tokens for approximately US$50 million, averaging US$672.45 per token, increasing its total digital currency reserves to around US$160 million [1][2] - The company plans to evaluate the security and long-term value of BNB, with an aim to acquire up to US$1 billion worth of BNB through convertible notes and private placements in the initial phase [2] - Over the long term, Nano Labs intends to hold 5% to 10% of BNB's total circulating supply [2] Group 2 - 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 [3] - The company has developed a comprehensive flow processing unit (FPU) architecture that integrates features of both HTC and HPC [3] - Nano Labs has established Bitcoin as its primary reserve asset and has built an integrated solution platform covering three main business verticals, including HTC and HPC solutions [3]

Group 1 - Nano Labs Ltd has entered into a securities purchase agreement to purchase 5,952,381 Class A ordinary shares in a registered direct offering, along with warrants for the same number of shares [1][2] - The effective offering price for each ordinary share and accompanying warrant is $8.40, with gross proceeds estimated at approximately $50.0 million before expenses [1][2] - The warrants are immediately exercisable, expire five years from the effective registration statement date, and have an initial exercise price of $10.00 per share [1][2] Group 2 - Proceeds from the offering and exercise of the warrants will be used to acquire BNB (Binance Coin) as part of the company's digital asset strategy [2] - The offering is expected to close on or about June 27, 2025, subject to customary closing conditions [2] Group 3 - The ordinary shares are being offered under a shelf registration statement declared effective by the SEC on September 1, 2023 [3] - The warrants issued in the private placement have not been registered under the Securities Act or applicable state securities laws [3] Group 4 - 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 developed a comprehensive flow processing unit (FPU) architecture and has established Bitcoin as a primary reserve asset [5] - Nano Labs has created an integrated solution platform covering three main business verticals, including HTC and HPC solutions [5]

Core Viewpoint - Nano Labs Ltd has entered into a convertible notes purchase agreement to issue convertible promissory notes totaling US$500 million, marking a significant step in its strategic growth [1][4]. Group 1: Convertible Notes Details - The convertible notes will mature in 360 days with no interest accruing on the principal amount [2]. - The notes are convertible into Class A ordinary shares at an initial price of US$20 per share, subject to adjustments [2]. - The company will repay the outstanding principal amount on the maturity date unless previously converted [2]. Group 2: Strategic Growth Initiatives - As part of its growth strategy, Nano Labs plans to assess the security and value of BNB and aims to acquire US$1 billion worth of BNB through convertible notes and private placements [4]. - The long-term goal is to hold 5% to 10% of BNB's total circulating supply [4]. Group 3: Company Overview - Nano Labs Ltd is a leading provider of Web 3.0 infrastructure and product solutions in China, focusing on high throughput computing (HTC) and high performance computing (HPC) chips [5]. - The company has developed a comprehensive flow processing unit (FPU) architecture that integrates features of both HTC and HPC [5]. - Nano Labs has established Bitcoin as its primary reserve asset and has created an integrated solution platform covering three main business verticals [5].

Core Viewpoint - Nano Labs Ltd has reported its financial results for the second half of 2024, highlighting a strategic shift towards Bitcoin investment and the launch of upgraded products, despite facing a decrease in net revenue compared to the previous year [1][3][5]. Financial Performance - Net revenue for the second half of 2024 was RMB 15.9 million (US$ 2.2 million), a decrease from RMB 26.1 million in the same period of 2023 [6][9]. - The net loss for the second half of 2024 was RMB 60.4 million (US$ 8.4 million), significantly improved from a net loss of RMB 120.0 million in the same period of 2023 [5][15]. - Gross profit for the second half of 2024 was RMB 11.6 million (US$ 1.6 million), compared to a gross loss of RMB 40.6 million in the same period of 2023 [9]. Cost Structure - Cost of revenues decreased to RMB 4.3 million (US$ 0.6 million) for the second half of 2024, down from RMB 66.6 million in the same period of 2023, primarily due to reduced sales volume [7]. - Total operating expenses decreased by 38.7% to RMB 51.4 million (US$ 7.1 million) for the second half of 2024, compared to RMB 83.8 million in the same period of 2023 [8]. Strategic Developments - The company has established Bitcoin value investment as a new business sector, holding approximately 400 BTC valued at around US$ 40 million [3]. - An upgraded machine equipped with the Cuckoo 3.0 iteration chip was released in December 2024, enhancing performance and market competitiveness [4]. Cash Position - As of December 31, 2024, the company had cash and cash equivalents of RMB 32.4 million (US$ 4.5 million), down from RMB 48.2 million as of December 31, 2023 [17]. Shareholder Information - Basic and diluted loss per share for the second half of 2024 was RMB 6.01 (US$ 0.84), compared to RMB 19.12 in the same period of 2023 [16]. Non-GAAP Financial Measures - The adjusted net loss for the six months ended December 31, 2024, was RMB 60.3 million (US$ 8.4 million), compared to RMB 119.5 million in the same period of 2023 [19][30].

Company Overview - Nano Labs Ltd is a leading fabless integrated circuit design company and product solution provider in China, focusing on high throughput computing (HTC) chips, high performance computing (HPC) chips, distributed computing and storage solutions, smart network interface cards (NICs), vision computing chips, and distributed rendering [4][5] - The company has developed a comprehensive flow processing unit (FPU) architecture that integrates features of both HTC and HPC [4] Financial Results Announcement - Nano Labs will report its unaudited financial results for the six months ended December 31, 2024, before the U.S. market opens on March 25, 2025 [1] - An earnings conference call will be held on March 25, 2025, at 8:30 am U.S. Eastern Time to discuss the financial results [2] Conference Call Details - Participants can register for the conference call through a provided link and will receive a dial-in number and unique PIN upon registration [3] - A live and archived webcast of the conference call will be available on the company's investor relations website [3] Replay Information - A telephone replay of the conference call will be available until April 1, 2025, with specific dial-in numbers for different regions [4]

Company Overview - Nano Labs Ltd is a leading fabless integrated circuit design company and product solution provider in China [3] - The company focuses on high throughput computing chips, high performance computing chips, distributed computing and storage solutions, smart network interface cards, vision computing chips, and distributed rendering [3] - Nano Labs has developed a comprehensive flow processing unit architecture that integrates features of both high throughput computing and high performance computing [3] Recent Financial Activity - The company announced it has received US$1 million equivalent in USDT from a private placement of 913,714 Class A ordinary shares at a purchase price of US$6.46 per share, resulting in aggregate gross proceeds of approximately US$5.9 million [1] - An additional 154,799 Class A ordinary shares were issued to investors as part of this private placement [1] - The aggregate purchase price for the shares will be satisfied in Bitcoin and USDT [1]