Nano(US:NA)2024-09-18 17:34Financial Data and Key Metrics Changes - In the first half of 2024, the company's net revenue was RMB 24.74 million (USD 3.47 million), a decline from RMB 52.37 million in the same period last year, primarily due to decreased sales of the iPollo V1 Series product [7] - Revenue from 3D-printing products increased significantly to RMB 459,200 from RMB 22,000 [7] - Total operating expenses decreased by 20.1% to RMB 58.72 million (USD 8.24 million) from RMB 73.50 million in the same period of 2023 [8] - Loss from operations was RMB 58.69 million (USD 8.24 million) for the first half of 2024, compared to a loss of RMB 136.4 million in the same period of 2023 [9] - Net loss was RMB 59.50 million (USD 8.30 million) for the first half of 2024, compared to a net loss of RMB 134.3 million in the same period of 2023 [9] - Basic and diluted loss per share was RMB 0.85 (USD 0.12) for the first half of 2024, compared to RMB 2.41 in the same period of 2023 [9] - As of June 30, 2024, cash and cash equivalents were RMB 23.51 million (USD 3.3 million), down from RMB 48.15 million as of December 31, 2023 [9] Business Line Data and Key Metrics Changes - The company has made substantial investments in the research and development of upgraded Cuckoo Series products, with the Cuckoo 3.0 chip now in mass production [4][5] - The launch of various models equipped with the Cuckoo 3.0 chip is expected to drive significant growth in sales in the remainder of 2024 and the first half of 2025 [5] Market Data and Key Metrics Changes - The first half of 2024 has seen a recovery in the industry and the emergence of new market opportunities, which the company aims to capitalize on [4] Company Strategy and Development Direction - The company plans to leverage its technology strengths to capture development opportunities, drive long-term growth, and create additional value for shareholders [10] - Continuous innovation in packaging technology and IP is a focus, along with the development of AI computing and ZK computing chips [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business strategy and ability to execute it, anticipating that the launch of new products will significantly boost sales [10] - The company is optimistic about overcoming existing challenges and unlocking new heights of success through collaboration within the industry [5] Other Important Information - The company has established collaborations with various institutions and organizations, laying the groundwork for substantial growth potential in the future [5] Q&A Session Summary Question: Could you provide some more details about your new 3D products? - The newly launched Cuckoo 3.0 Chip is an upgraded integration of the original Cuckoo 2, significantly improving performance and reaching a leading position globally [11] Question: What are the company's expectations for the market and financial figures in the second half of this year? - The company plans to launch complete machines equipped with the Cuckoo 3 chip in the second half of the year, which is expected to drive an increase in sales [14] Question: What sort of competitive advantage does the Cuckoo 3.0 have in relation to recent AI trends? - The Cuckoo 3.0 Chip offers the highest computing power and lowest power efficiency among current products, with features designed for efficient data exchange, providing a comparative advantage for AI chip design [16] Question: Will the company introduce any new product lines that could support its business revenue in the future? - The company plans to launch complete machines equipped with Cuckoo 3 chips and explore new opportunities in fields such as AI computing to drive future revenue growth [18]