Nano Labs Announces Second Half of 2023 Financial Results

*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 December 31,
  2022  2023
  RMB  RMB  US$
Net revenues603,030,131  26,066,660  3,680,328 
Cost of revenues549,236,760  66,617,485  9,405,662 
Gross profit (loss)53,793,371  (40,550,825) (5,725,334)
      
Operating expenses:     
Selling and marketing expenses14,266,412  5,830,986  823,272 
General and administrative expenses36,311,852  22,360,766  3,157,096 
Research and development expenses90,159,028  55,648,133  7,856,910 
Total operating expenses140,737,292  83,839,885     11,837,278  
           
Loss from operations (86,943,921 )   (124,390,710 )   (17,562,612 )
           
Other expenses (income):          
Finance income (3,771,346 )   (680,536 )   (96,084 )
Interest income (144,938 )   (153,112 )   (21,618 )
Other income (2,752,999 )   (3,507,095 )   (495,164 )
Total other income (6,669,283 )   (4,340,743 )   (612,866 )
           
Loss before income tax provision (80,274,638 )   (120,049,967 )   (16,949,746 )
Income tax provision -     (17,394 )   (2,456 )
Net loss (80,274,638 )   (120,032,573 )   (16,947,290 )
Less: net loss attributable to noncontrolling interests -     (1,528,282 )   (215,777 )
Net loss attributable to Nano Labs Ltd (80,274,638 )   (118,504,291 )   (16,731,513 )
           
Comprehensive income (loss):          
Net loss (80,274,638 )   (120,032,573 )   (16,947,290 )
Other comprehensive income (loss):          
Foreign currency translation adjustment 3,229,764     (1,616,096 )   (228,175 )
Comprehensive Loss (77,044,874 )   (121,648,669 )   (17,175,465 )
Comprehensive loss attributable to noncontrolling interests -     (1,528,352 )   (215,787 )
Comprehensive loss attributable to Nano Labs Ltd (77,044,874 )   (120,120,317 )   (16,959,678 )
           
Net loss per ordinary share attributable to Nano Labs Ltd          
Basic* (1.47 )   (1.91 )   (0.27 )
Diluted* (1.47 )   (1.91 )   (0.27 )
           
Weighted average number of shares used in per share calculation:          
Basic* 54,571,995     61,970,664     61,970,664  
Diluted* 54,571,995     61,970,664     61,970,664  

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