# EDGAR Filing Document

**Accession Number:** 0001872302
**File Stem:** 0001213900-25-077422
**Filing Date:** 2025-8
**Character Count:** 22715
**Document Hash:** a626ff6a3ff2180c2ce2ebf35ed7b0cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-077422.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001213900-25-077422

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250815

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nano Labs Ltd
- **CENTRAL INDEX KEY:** 0001872302
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41426
- **FILM NUMBER:** 251224506

**BUSINESS ADDRESS:**
- **STREET 1:** 30 FLOOR, DICARA SILVER CENTER
- **STREET 2:** NO.29 JIEFANG EAST RD, JIANGGAN DISTRICT
- **CITY:** HANGZHOU
- **STATE:** F4
- **ZIP:** 310000
- **BUSINESS PHONE:** 8615968976786

**MAIL ADDRESS:**
- **STREET 1:** 30 FLOOR, DICARA SILVER CENTER
- **STREET 2:** NO.29 JIEFANG EAST RD, JIANGGAN DISTRICT
- **CITY:** HANGZHOU
- **STATE:** F4
- **ZIP:** 310000

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16 UNDER**

**THE SECURITIES EXCHANGE ACT OF 1934**

For the month of August 2025

Commission File Number: 001-41426

**Nano Labs Ltd**

(Exact name of registrant as specified in its charter)

China Yuangu Hanggang Technology Building

509 Qianjiang Road, Shangcheng District,

Hangzhou, Zhejiang, 310000

People's Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

**EXPLANATORY NOTE**

The document attached as Exhibit 99.1 to this report on Form 6-K is hereby incorporated by reference into the Company's Registration Statement on <u>[Form F-3](http://www.sec.gov/Archives/edgar/data/1872302/000119312523212289/d466253df3.htm)</u>, as amended, initially filed with the U.S. Securities and Exchange Commission on August 14, 2023 (Registration No. 333-273968) and the Company's Registration Statement on [Form F-3](https://www.sec.gov/Archives/edgar/data/1872302/000121390025071307/ea0250751-f3_nano.htm), as amended, initially filed with the U.S. Securities and Exchange Commission on August 4, 2025 (Registration No. 333-289211) and shall be a part thereof from the date on which this current report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: August 15, 2025 | **Nano Labs Ltd** | **Nano Labs Ltd** |
|  | By: | /s/ Jianping Kong |
|  | Name: | Jianping Kong |
|  | Title: | Chairman and Chief Executive Officer |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release](ea025324901ex99-1_nano.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

**Nano Labs Announces First Half of 2025 Financial Results**

HONG KONG, August 15, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) ("we," the "Company" or "Nano Labs"), a leading Web 3.0 infrastructure and product solution provider, today announced its unaudited financial results as of June 30, 2025 and for the first half of 2025 then ended.

**First Half of 2025 Financial Summary**

● Net revenue was RMB8.3 million (US$1.2 million) for the first half of 2025, compared to RMB24.7 million in the same period of 2024.

● Gross loss was RMB10.7 million (US$1.5 million) for the first half of 2025, compared to a gross profit of RMB30.1 thousand in the same period of 2024.

● Loss from operations was RMB38.0 million (US$5.3 million) for the first half of 2025, compared to a loss from operations of RMB58.7 million in the same period of 2024.

● Gain on change in fair value of cryptocurrencies was RMB48.6 million (US$6.8 million) for the first half of 2025, compared to nil in the same period of 2024.

● Net loss was RMB11.8 million (US$1.6 million) for the first half of 2025, compared to a net loss of RMB59.1 million in the same period of 2024.

● Net loss per share (both basic and diluted) was RMB0.43 (US$0.06) for the first half of 2025, compared to a net loss per share (both basic and diluted) of RMB8.46 in the same period of 2024.

Mr. Jianping Kong, Chairman and Chief Executive Officer of the Company, commented, "2025 marks a pivotal year in our strategic transformation. In light of the evolving industry landscape and the onset of a new market cycle, we are concentrating our efforts on building a crypto asset strategic reserve, with BNB currently serving as our primary reserve asset. While our mining machine business continue to provide a stable foundation, we are also proactively identifying and seizing new market opportunities.

We view BNB as a leading cryptocurrency, supported by a broad and expanding ecosystem with compelling long-term appreciation potential. To date, we have accumulated over 128,000 BNB. Going forward, we will continue to strengthen our cryptocurrency strategic reserve capabilities through multiple approaches.

With a clearly defined strategy, disciplined capital allocation, and deep sector insight and expertise, we are committed to strengthening our cryptocurrency strategic reserve model, building a unique advantage in the crypto asset sector, and delivering sustainable, long-term value to our shareholders and partners."

Mr. Bing Chen, Chief Financial Officer, added: "For the first half of 2025, we recorded net revenue of RMB8.3 million (US$1.2 million) and narrowed our net loss to RMB11.8 million (US$1.6 million), compared with a net loss of RMB59.1 million in the same period last year. Building on our strategic transformation initiatives, we will continue to capture emerging opportunities within the cryptocurrency ecosystem and expect further operational improvements that will lay a strong foundation for future growth."

**First Half of 2025 Financial Results**

 ****

***Net Revenues***

Net revenue was RMB8.3 million (US$1.2 million) for the first half of 2025, compared to RMB24.7 million for the same period of 2024. The decrease in net revenues was primarily due to the drop of sales volume of iPollo V Series.

 ****

***Cost of Revenues***

Cost of revenues was RMB19.0 million (US$2.7 million) for the first half of 2025, compared to RMB24.7 million for the same period of 2024. The change was mainly due to the decrease in sales volume and write-down of inventory and value-added tax recoverable.

 ****

***Operating Expenses***

Total operating expenses decreased by 53.5% to RMB27.3 million (US$3.8 million) for the first half of 2025, from RMB58.7 million for the same period of 2024.

● Selling and marketing expenses decreased by 39.6% to RMB2.6 million (US$0.4 million) for the first half of 2025, from RMB4.3 million for the same period of 2024. The decrease in selling and marketing expenses was primarily due to the decrease in sales commission and salaries.

● General and administrative expenses decreased by 15.4% to RMB21.5 million (US$3.0 million) for the first half of 2025, from RMB25.5 million for the same period of 2024. The decrease in general and administrative expenses was primarily due to the decrease in professional fees and employee salary expenses.

● Research and development expenses decreased by 89.1% to RMB3.2 million (US$0.4 million) for the first half of 2025, from RMB28.9 million for the same period of 2024. The decrease in research and development expenses, including mainly salary expenses, design fee, service fee and material cost, was primarily due to the strategic adjustment in research and development activities in 2025.

 ****

***Loss from Operations***

As a result of the foregoing, loss from operations decreased by 35.2% to RMB38.0 million (US$5.3 million) for the first half of 2025, from RMB58.7 million for the same period of 2024.

 ****

***Finance Expense (Income)***

Finance expense was RMB0.3 million (US$0.04 million) for the first half of 2025, compared with finance income of RMB0.6 million for the same period of 2024.

 ****

***Interest Expense***

Interest expense was RMB5.3 million (US$0.7 million) for the first half of 2025, compared to RMB2.0 million for the same period of 2024. The change was mainly due to the completion of construction in progress and cease of interest capitalization in April 2024, as well as increase in short-term borrowings during the first half of 2025.

 ****

 ****

***Change in Fair Value of Cryptocurrencies***

Change in fair value of cryptocurrencies was a gain of RMB48.6 million (US$6.8 million) for the first half of 2025, compared to nil for the same period of 2024. The change was due to the cryptocurrency holding strategy the Company developed at the end of 2024.

 ****

***Change in Fair Value of Convertible Notes***

Change in fair value of convertible notes was a loss of RMB18.5 million (US$2.6 million) for the first half of 2025, compared to nil for the same period of 2024. The change was due to the issuance of convertible bonds denominated in bitcoin in 2025, which was measured at fair value on June 30, 2025.

 ****

***Net Loss***

Net loss was RMB11.8 million (US$1.6 million) for the first half of 2025, compared with RMB59.1 million in the same period of 2024.

 ****

***Basic and Diluted Loss Per Ordinary Share attributable to Nano Labs Ltd***

Basic and diluted loss per share was RMB0.43 (US$0.06) for the first half of 2025, compared with basic and diluted loss per share of RMB8.46 for the same period of 2024.

 ****

***Cash and Cash Equivalents***

As of June 30, 2025, the Company had cash and cash equivalents of RMB363.4 million (US$50.8 million), compared with RMB32.4 million as of December 31, 2024.

**Exchange Rate**

This press release contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) solely for the convenience of the reader. Unless otherwise specified, all translations of Renminbi amounts into U.S. dollar amounts in this press release are made at RMB7.1586 to US$1.00, the central parity rate on June 30, 2025 published by the People's Bank of China.

**Non-GAAP Financial Measures**

In evaluating our business, we consider and use adjusted net income/(loss) as an additional non-GAAP measure to review and assess our operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted net income/(loss) as net income/(loss) excluding share-based compensation expense.

We present the non-GAAP financial measure because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP financial measures enable our management to assess our operating results without considering the impact of non-cash charges and non-operating items. We also believe that the use of the non-GAAP measure facilitates investors' assessment of our operating performance.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measure is that they do not reflect all items of income and expense that affect our operations. Share-based compensation expenses have been and may continue to be incurred in our business and are not reflected in the presentation of adjusted net income/(loss). Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

**Conference Call**

The Company will host an earnings conference call to discuss its financial results at 8:30 am U.S. Eastern Time (8:30 pm Hong Kong Time) on August 15, 2025.

For participants who wish to join the call, please access the link provided below to complete the online registration process.

Registration Link: https://s1.c-conf.com/diamondpass/10049559-gh87y6.html

Upon registration, participants will receive the dial-in number and unique PIN, which can be used to join the conference call. If participants register and forget their PIN or lose their registration confirmation email, they may simply re-register and receive a new PIN. All participants are encouraged to dial in 15 minutes prior to the start time.

A live and archived webcast of the conference call will be accessible on the Company's investor relations website at: https://ir.nano.cn/.

A telephone replay of the call will be available until August 22, 2025 via the following dial-in details:

**<u>Dial-in Numbers:</u>**

---

| | |
|:---|:---|
| US/Canada: | 1855 883 1031 |
| Hong Kong: | 800 930 639 |
| China: | 400 1209 216 |
| Replay PIN: | **10049559** |

---

**About Nano Labs Ltd**

Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider. Nano Labs is committed to the development of high throughput computing ("HTC") chips and high performance computing ("HPC") chips. Nano Labs has built a comprehensive flow processing unit ("FPU") architecture which offers solution that integrates the features of both HTC and HPC. In addition, Nano Labs has actively positioned itself in the crypto assets space, adopting BNB as its primary reserve asset. It has reserved in mainstream cryptocurrencies including BNB and BTC, and established an integrated platform covering multiple business verticals, including HTC solutions and HPC solutions\*. For more information, please visit the Company's website at: ir.nano.cn.

\*According to an industry report prepared by Frost & Sullivan.

**Forward-Looking Statements**

This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's plan to appeal the Staff's determination, which can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

**For investor and media inquiries, please contact:**

**Nano Labs Ltd**

Email: ir@nano.cn

**Ascent Investor Relations LLC**

Tina Xiao

Phone: +1-646-932-7242

Email: investors@ascent-ir.com

**Consolidated Balance Sheets**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | | **As of <br> June 30,** | **As of <br> June 30,** |
|  | **As of<br> December 31,**<br>**2024** | **2025** | **2025** |
|  | **RMB** | **RMB** | **US$** |
| **ASSETS** |  |  |  |
| **Current assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | 32431081 | 363440412 | 50769761 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 418722 | 468526 | 65449 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 572803 | 507688 | 70920 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 29866418 | 35850932 | 5008093 |
| &nbsp;&nbsp;&nbsp;Prepayments | 4606066 | 8652263 | 1208653 |
| &nbsp;&nbsp;&nbsp;Cryptocurrencies | 242889085 | 776702624 | 108499235 |
| &nbsp;&nbsp;&nbsp;Other current assets | 55858433 | 52122427 | 7281092 |
| **Total current assets** | 366642608 | 1237744872 | 172903203 |
| **Non-current assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Long-term investment |  | 2000000 | 279384 |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 197341915 | 188159300 | 26284372 |
| &nbsp;&nbsp;&nbsp;Intangible asset, net | 46745444 | 46252522 | 6461113 |
| &nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | 5203525 | 3572268 | 499018 |
| **Total non-current assets** | 249290884 | 239984090 | 33523887 |
| **TOTAL ASSETS** | 615933492 | 1477728962 | 206427090 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |
| **Current liabilities:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Short-term debts | 18000000 | 33000000 | 4609840 |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debts | 5350000 | 6120000 | 854916 |
| &nbsp;&nbsp;&nbsp;Convertible notes denominated in bitcoin |  | 470948166 | 65787747 |
| &nbsp;&nbsp;&nbsp;Accounts payable | 18101451 | 23204810 | 3241529 |
| &nbsp;&nbsp;&nbsp;Advance from customers | 98895905 | 95626084 | 13358210 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 1914109 | 1019231 | 142379 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 67163217 | 53026502 | 7407384 |
| **Total current liabilities** | 209424682 | 682944793 | 95402005 |
| **Non-current liabilities:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Long-term debts | 170683636 | 173479763 | 24233756 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, non-current | 2917350 | 2222688 | 310492 |
| **Total non-current liabilities** | 173600986 | 175702451 | 24544248 |
| **Total liabilities** | 383025668 | 858647244 | 119946253 |
| **Shareholders' equity:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A ordinary shares (US$0.002 par value; 14,141,093 and 1,097,141,091 shares authorized as of December 31, 2024 and June 30, 2025, respectively; 13,273,596 and 20,712,924 shares issued as of December 31, 2024 and June 30, 2025, respectively; 12,815,143 and 20,258,282 shares outstanding as of December 31, 2024 and June 30, 2025, respectively) | 176842 | 283472 | 39599 |
| &nbsp;&nbsp;&nbsp;Class B ordinary shares (US$0.002 par value; 2,858,909 shares authorized; 2,858,909 shares issued and outstanding as of December 31, 2024 and June 30, 2025) | 36894 | 36894 | 5154 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 780499664 | 1180185753 | 164862648 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (565218741) | (572273282) | (79942067) |
| &nbsp;&nbsp;&nbsp;Statutory reserves | 6647109 | 6647109 | 928549 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 8647353 | 6805404 | 950661 |
| **Total Nano Labs Ltd shareholders' equity** | 230789121 | 621685350 | 86844544 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interests | 2118703 | (2603632) | (363707) |
| **Total shareholders' equity** | 232907824 | 619081718 | 86480837 |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | 615933492 | 1477728962 | 206427090 |

---

**Consolidated Statements of Operations and Comprehensive Income (Loss)**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | **For the six months ended June 30,** | **For the six months ended June 30,** | **For the six months ended June 30,** |
|  | **2024** | **2025** | **2025** |
|  | **RMB** | **RMB** | **US$** |
| **Net revenues** | 24739480 | 8283373 | 1157122 |
| **Cost of revenues** | 24709417 | 18991737 | 2652996 |
| **Gross profit (loss)** | 30063 | (10708364) | (1495874) |
| **Operating expenses:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Selling and marketing expenses | 4334564 | 2617584 | 365656 |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 25453212 | 21544148 | 3009548 |
| &nbsp;&nbsp;&nbsp;Research and development expenses | 28934228 | 3163558 | 441924 |
| **Total operating expenses** | 58722004 | 27325290 | 3817128 |
| **Loss from operations** | (58691941) | (38033654) | (5313002) |
| **Other expenses (income):** |  |  |  |
| &nbsp;&nbsp;&nbsp;Finance expenses (income) | (607804) | 274189 | 38302 |
| &nbsp;&nbsp;&nbsp;Interest expenses | 2009586 | 5287620 | 738639 |
| &nbsp;&nbsp;&nbsp;Interest income | (96679) | (12322) | (1721) |
| &nbsp;&nbsp;&nbsp;Change in fair value of cryptocurrencies |  | (48610295) | (6790475) |
| &nbsp;&nbsp;&nbsp;Change in fair value of convertible notes |  | 18529435 | 2588416 |
| &nbsp;&nbsp;&nbsp;Other income | (851374) | (1724344) | (240877) |
| **Total other expenses (income)** | 453729 | (26255717) | (3667716) |
| **Loss before income tax provision** | (59145670) | (11777937) | (1645286) |
| &nbsp;&nbsp;&nbsp;Income tax provision | - | - | - |
| **Net loss** | (59145670) | (11777937) | (1645286) |
| **Less: net loss attributable to noncontrolling interests** | (1911930) | (4723396) | (659821) |
| **Net loss attributable to Nano Labs Ltd** | (57233740) | (7054541) | (985465) |
| **Comprehensive income (loss):** |  |  |  |
| Net loss | (59145670) | (11777937) | (1645286) |
| Other comprehensive income: |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign currency translation adjustment | 4800723 | (1840888) | (257158) |
| **Total comprehensive loss** | (54344947) | (13618825) | (1902444) |
| &nbsp;&nbsp;&nbsp;Comprehensive loss attributable to noncontrolling interests | (1912013) | (4722335) | (659673) |
| **Comprehensive loss attributable to Nano Labs Ltd** | (52432934) | (8896490) | (1242771) |
| **Net loss per ordinary share attributable to Nano Labs Ltd** |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic\* | (8.46) | (0.43) | (0.06) |
| &nbsp;&nbsp;&nbsp;Diluted\* | (8.46) | (0.43) | (0.06) |
| **Weighted average number of shares used in per share calculation:** |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic\* | 6766671 | 16548783 | 16548783 |
| &nbsp;&nbsp;&nbsp;Diluted\* | 6766671 | 16548783 | 16548783 |

---

\* After giving effect of the 10-for-1 reverse stock split effective on November 3, 2024.

**Non-GAAP Reconciliation**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** | **For the Six Months Ended June 30,** |
|  | **2024** | **2025** | **2025** |
|  | **RMB** | **RMB** | **US$** |
| **Net loss** | (59145670) | (11777937) | (1645286) |
| Add: |  |  |  |
| Share-based compensation expenses | 285507 | 62337 | 8708 |
| **Non-GAAP adjusted net loss** | (58860163) | (11715600) | (1636578) |

---