Nano Labs Announces First Half of 2024 Financial Results

*After giving effect of the 2-for-1 reverse stock split effective on January 31, 2024.


Consolidated Statements of Operations and Comprehensive Income (Loss)
(Unaudited)
      
  For the six months ended June 30,
  2023  2024
  RMB  RMB  US$
Net revenues52,268,716  24,739,480  3,471,331 
Cost of revenues115,167,091  24,709,417  3,467,112 
Gross profit (loss)(62,898,375) 30,063  4,219 
      
Operating expenses:     
Selling and marketing expenses9,501,537  4,334,564  608,206 
General and administrative expenses31,041,335  25,453,212  3,571,478 
Research and development expenses32,953,337  28,934,228  4,059,919 
Total operating expenses73,496,209     58,722,004     8,239,603  
           
Loss from operations (136,394,584 )   (58,691,941 )   (8,235,384 )
           
Other expenses (income):          
Finance expenses (income) 1,600,591     (607,804 )   (85,284 )
Interest expenses -     2,009,586     281,976  
Interest income (335,986 )   (96,679 )   (13,566 )
Other income (3,339,708 )   (851,374 )   (119,461 )
Total other expenses (income) (2,075,103 )   453,729     63,665  
           
Loss before income tax provision (134,319,481 )   (59,145,670 )   (8,299,049 )
Income tax provision -     -     -  
Net loss (134,319,481 )   (59,145,670 )   (8,299,049 )
Less: net loss attributable to noncontrolling interests -     (1,911,930 )   (268,273 )
Net loss attributable to Nano Labs Ltd (134,319,481 )   (57,233,740 )   (8,030,776 )
           
Comprehensive income (loss):          
Net loss (134,319,481 )   (59,145,670 )   (8,299,049 )
Other comprehensive income:          
Foreign currency translation adjustment 1,771,255     4,800,723     673,616  
Total comprehensive loss (132,548,226 )   (54,344,947 )   (7,625,433 )
Comprehensive loss attributable to noncontrolling interests -     (1,912,013 )   (268,285 )
Comprehensive loss attributable to Nano Labs Ltd (132,548,226 )   (52,432,934 )   (7,357,148 )
           
Net loss per ordinary share attributable to Nano Labs Ltd          
Basic* (2.41 )   (0.85 )   (0.12 )
Diluted* (2.41 )   (0.85 )   (0.12 )
           
Weighted average number of shares used in per share calculation:          
Basic* 55,748,336     67,666,712     67,666,712  
Diluted* 55,748,336     67,666,712     67,666,712  
 

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