NA

Interested in Nano Labs Ltd. Sponsored ADR? Here are five stocks we like better. Nano Labs reported a significantly wider net loss of RMB316.7 million ($46.5 million) in the first half of 2026, compared with RMB11.8 million a year earlier. Results were hurt by lower iPollo V Series sales and a RMB250.5 million loss from cryptocurrency fair-value changes, primarily due to a decline in BNB. The company is expanding into AI and Web3 with the iPollo ClawPC A1 Mini and its OpenClaw ecosystem, aiming to develop connected hardware, software and commercial applications that combine blockchain and AI capabilities. Nano Labs held 30,000 BNB in long-term reserves and continued its up-to-$25 million share-repurchase program. As of Aug. 26, it had repurchased shares totaling $3.2 million, including 1,117,401 shares as of June 30. The Hot Dog Hedge: Smithfield Acquires Nathan’s Famous Nano Labs (NASDAQ:NA) reported a wider net loss for the first half of 2026 as lower sales of its iPollo V Series products and a decline in the value of its cryptocurrency holdings weighed on results, while management outlined plans to expand its artificial intelligence and Web3-related product ecosystem. Chairman and Chief Executive Officer Jianping Kong said the company sees opportunities in the convergence of AI and Web3 as digital-asset markets and blockchain infrastructure continue to evolve. During the first half, Nano Labs launched the iPollo ClawPC A1 Mini and continued developing its OpenClaw Ecosystem, which spans smart devices, operating systems, hardware, software and application layers. → Quantum Computing Is Raising the Stakes for Cybersecurity: 5 Stocks to Watch 3 New Year’s Resolution Stocks That Could Turn Around in 2026 Chief Financial Officer and Senior Vice President Bing Chen said the company’s reported “net value” was RMB2.8 million, or $0.4 million, for the first half of 2026, down from RMB8.3 million in the prior-year period. Chen attributed the decrease primarily to lower sales volume for the iPollo V Series. Nano Labs recorded a gross loss of RMB5.8 million, or $0.9 million, compared with RMB10.7 million in the first half of 2025. Cost of revenue fell to RMB8.6 million, or $1.3 million, from RMB19 million a year earlier, reflecting the decline in sales volume, according to Chen. → Palantir's Kool-Aid Moment: The Math Behind Karp's Forecast Top 3 ETFs Defense Hawks Are Buying Total operating expenses were RMB285.8 million, or $42 million, in the first half of 2026. Selling and marketing expenses increased 17% to RMB3.1 million, or $0.4 million, from RMB2.6 million a year earlier, which Chen said was due to expanded sales and marketing activity. General and administrative expenses rose 29.5% to RMB27.9 million, or $4.1 million, from RMB21.5 million, driven primarily by higher professional fees and real-estate-related taxes. Research and development expenses increased 39.8% to RMB4.4 million, or $0.6 million, from RMB3.2 million, reflecting higher system-development service fees. → Looking Beyond NVIDIA? These 3 AI ETFs Are Beating the Market The company reported a RMB250.5 million, or $36.8 million, loss from changes in the fair value of cryptocurrencies, compared with a RMB48.6 million gain in the prior-year period. Chen said the loss was primarily attributable to a decrease in the price of BNB during the first half. Loss from operations was RMB291.7 million, or $42.8 million, compared with operating profit of RMB10.6 million a year earlier. Other expenses totaled RMB18.3 million, or $2.5 million, compared with none in the prior-year period, mainly because of losses from changes in the fair value of short investments. Net loss was RMB316.7 million, or $46.5 million, compared with RMB11.8 million in the first half of 2025. Basic and diluted loss per share was RMB13.65, or $2, compared with a loss per share of RMB0.43 a year earlier. As of June 30, Nano Labs had cash and cash equivalents of RMB9 million, or $1.3 million, compared with RMB8.5 million as of Dec. 31, 2025. In response to a shareholder question, Kong said Nano Labs’ move into AI followed a long-term strategic review rather than a short-term market trend. He said the company intends to build on its experience in blockchain infrastructure, hardware development, ecosystem development and product operations as AI and Web3 technologies increasingly intersect. “The launch of the iPollo ClawPC A1 Mini represents the first step in this strategy,” Kong said through a translator. The device supports the OpenClaw AI Agent system and is intended for uses including entertainment, content creation and office productivity, he said. The company plans to expand both the hardware and software components of the OpenClaw ecosystem, introduce additional products, strengthen its software platform and explore commercial applications and business models, Kong said. Nano Labs said it continues to treat digital assets as a strategic component of its capital-allocation framework. As of the date of its interim report, the company held long-term reserves of 30,000 BNB. Kong said BNB is the company’s core strategic reserve asset based on management’s assessment of its ecosystem potential and long-term value. He said future investment decisions will consider market conditions, liquidity needs and strategic priorities, while the company seeks to optimize its overall digital-asset allocation. The company also continues to execute a share repurchase program of up to $25 million that was originally announced in October 2025. As of Aug. 26, Nano Labs had repurchased Class A ordinary shares for $3.2 million in total consideration. Chen said that as of June 30, the company had repurchased an aggregate 1,117,401 shares under the program, which he said began in December 2025. Nano Labs intends to continue the repurchases in accordance with the program’s terms and prevailing market conditions. Nano Labs Ltd operates as a fabless integrated circuit design company and product solution provider in the People's Republic of China and internationally. It develops high throughput computing and high-performance computing chips. The company also offers distributed computing and storage solutions, smart network interface cards, and vision computing chips, as well as distributed rendering technology. In addition, it engages in the research and development of software. Its customers include enterprises and individual buyers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Nano Labs H1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Net Revenue: RMB2.8 million (USD0.4 million) for 1H 2026, down from RMB8.3 million in 1H 2025. Gross Loss: RMB5.8 million (USD0.9 million) for 1H 2026, compared to RMB10.7 million gross loss in 1H 2025. Cost of Revenue: RMB8.6 million (USD1.3 million) for 1H 2026, down from RMB19 million in 1H 2025. Total Operating Expenses: RMB285.8 million (USD42 million) for 1H 2026, versus total operating income of RMB21.3 million in 1H 2025. Selling and Marketing Expenses: RMB3.1 million (USD0.4 million) for 1H 2026, up 17% from RMB2.6 million in 1H 2025. General and Administrative Expenses: RMB27.9 million (USD4.1 million) for 1H 2026, up 29.5% from RMB21.5 million in 1H 2025. Research and Development Expenses: RMB4.4 million (USD0.6 million) for 1H 2026, up 39.8% from RMB3.2 million in 1H 2025. Change in Fair Value of Cryptocurrencies: Loss of RMB250.5 million (USD36.8 million) for 1H 2026, versus a gain of RMB48.6 million in 1H 2025. Loss from Operations: RMB291.7 million (USD42.8 million) for 1H 2026, versus a profit of RMB10.6 million in 1H 2025. Net Loss: RMB316.7 million (USD46.5 million) for 1H 2026, compared to RMB11.8 million net loss in 1H 2025. Basic and Diluted Loss per Share: RMB13.65 (USD2) for 1H 2026, versus RMB0.43 loss per share in 1H 2025. Cash and Cash Equivalents: RMB9.0 million (USD1.3 million) as of June 30, 2026, compared to RMB8.5 million as of December 31, 2025. Warning! GuruFocus has detected 9 Warning Signs with NA. Is NA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Launched the next-generation iPollo ClawPC A1 Mini, marking a strategic entry into AI-Web3 convergence and expanding product portfolio. Adopted a disciplined digital asset reserve strategy, holding 30,000 BNB as a core strategic asset to strengthen the balance sheet and support ecosystem collaboration. Continued executing a share repurchase program of up to USD25 million, with USD3.2 million already completed, demonstrating management confidence in long-term value. Reduced cost of revenue by 55% year-over-year, reflecting improved cost management despite lower sales volume. Increased research and development expenses by 39.8% to support system development and innovation in AI and Web3 technologies. Net revenue declined significantly to RMB2.8 million from RMB8.3 million year-over-year, driven by a drop in iPollo V-Series sales volume. Recorded a gross loss of RMB5.8 million, though improved from a loss of RMB10.7 million in the prior year. Total operating expenses surged to RMB285.8 million from an operating income of RMB21.3 million, primarily due to a RMB250.5 million loss from the change in fair value of cryptocurrencies. Net loss widened to RMB316.7 million from RMB11.8 million, with basic and diluted loss per share increasing to RMB13.65 from RMB0.43. General and administrative expenses rose 29.5% due to higher professional fees and real estate-related taxes, adding to cost pressures. Q: Why has the company chosen to focus on AI-related business this year?A: CEO Jianping Kong explained that the expansion into AI is the result of a long-term strategic evaluation rather than a short-term market trend. The company has built solid capabilities in blockchain infrastructure, hardware development, and ecosystem construction. As AI and Web3 converge, they see significant opportunities to leverage these strengths. The launch of the iPollo ClawPC A1 Mini is the first step, designed for practical applications across entertainment, content creation, and office productivity, with plans to expand both hardware and software components of the open cloud ecosystem. Q: What are the company's future plans for its digital assets reserves?A: CEO Jianping Kong stated that digital assets have become an integral part of the long-term corporate strategy, with BNB designated as the core strategic reserve asset based on its ecosystem potential and long-term value. The company intends to manage the reserve portfolio prudently by evaluating market conditions, liquidity needs, and strategic priorities before making additional investments, while optimizing overall digital asset allocation to enhance portfolio resilience and support future business development. Q: What is the company's long-term business development strategy?A: CEO Jianping Kong outlined a strategy built on two complementary pillars: first, maintaining a disciplined digital asset reserve strategy with BNB as a core strategic asset to support financial stability and ecosystem development; second, driving sustainable business growth through the integration of AI and Web3 technologies, leveraging the iPollo ClawPC A1 Mini as a starting point. The company plans to expand the open cloud ecosystem with additional products, strengthen its software platform, and explore new commercial applications and business models. Q: What are the company's expectations for its operating performance in the second half of 2026?A: CFO Bing Chen stated that the company will remain focused on executing strategic priorities, including advancing digital asset initiatives and expanding the next-generation AI product ecosystem. He provided an update on capital management, noting that as of June 30, 2026, the company had repurchased an aggregate of 1,117,401 shares under its repurchase program launched in December 2025. The company intends to continue executing the program according to its terms and prevailing market conditions, reflecting management's confidence in long-term prospects. Q: What were the key financial results for the first half of 2026?A: CFO Bing Chen reported net revenue of RMB2.8 million (USD0.4 million), down from RMB8.3 million in the same period last year, primarily due to a drop in sales volume of iPollo V-Series. The company recorded a gross loss of RMB5.8 million (USD0.9 million), and total operating expenses increased to RMB285.8 million (USD42 million). The change in fair value of cryptocurrencies resulted in a loss of RMB250.5 million (USD36.8 million) due to decreased BNB prices. Net loss was RMB316.7 million (USD46.5 million), compared to RMB11.8 million in the same period of 2025. Q: What caused the significant increase in operating expenses during the first half of 2026?A: CFO Bing Chen detailed that selling and marketing expenses increased by 17% to RMB3.1 million due to sales and marketing expansion. General and administrative expenses increased by 29.5% to RMB27.9 million, primarily due to increases in professional fees and real estate-related taxes. Research and development expenses increased by 39.8% to RMB4.4 million, mainly due to increased service fees for system development. Q: How is the company's share repurchase program progressing?A: CEO Jianping Kong noted that the company continues to advance its share repurchase program of up to USD25 million, originally announced in October 2025. As of August 2026, the company had completed repurchases of Class A ordinary shares for a total consideration of USD3.2 million, and will continue to advance the program in a steady and disciplined manner over the long term to enhance shareholder value. Q: What is the company's cash position as of June 30, 2026?A: CFO Bing Chen reported that as of June 30, 2026, the company had cash and cash equivalents of RMB9.0 million (USD1.3 million), compared to RMB8.5 million as of December 31, 2025. He expressed confidence in the company's business strategy and ability to execute, stating they will continue to leverage technology strengths to capture development opportunities and drive long-term growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. National Bank of Canada’s fair value estimate has been adjusted slightly from CA$189.15 to CA$188.15, keeping the updated target tightly aligned with current modelling assumptions. Analysts are highlighting mortgage renewal risks and group wide earnings expectations as reasons why, even with targets clustered in the CA$179 to CA$202 range, there is limited appetite to stretch valuations far beyond present fundamentals. As you read on, you will see how this evolving narrative can shape the way you track the bank’s story over time. Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value National Bank of Canada. Scotiabank, BMO Capital and Desjardins have all lifted targets into the CA$188 to CA$202 range, paired with Outperform or Buy ratings. This signals confidence in the bank’s ability to support higher valuations under their current assumptions. RBC Capital raised its target to CA$193 from CA$163, while Raymond James moved to CA$179 from CA$173, reflecting updated modelling around earnings power and capital deployment across the Canadian bank group. Barclays framed its higher targets, first to CA$177 then to CA$183, around expectations for modest Q1 earnings support from balance sheet trends, stable net interest income, cost control and active share repurchases. Several firms, including TD Securities with a Hold rating and Barclays with Equal Weight, are keeping more neutral stances. This suggests some caution on stretching multiples much beyond current ranges. Barclays’ earlier Q1 preview cited mortgage renewal concerns for Canadian banks, indicating that funding costs and credit behaviour around renewals remain a watchpoint when you think about the durability of earnings assumptions. Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives! We've flagged 1 risk for National Bank of Canada. See which could impact your investment. National Bank of Canada reported that between November 1, 2025 and January 31, 2026, it repurchased 3,593,000 shares, or 0.92% of its shares, for CA$619 million, bringing total buybacks under the current program to 4,978,400 shares, or 1.27%, for CA$832 million. On February 24, 2026, the bank announced a 6,500,000 share increase to its equity buyback plan, bringing total authorization to 14,500,000 common shares, or about 3.7% of its issued share capital, with approvals received on March 10, 2026 from the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions. National Bank of Canada also disclosed the opening of a new office in the Dubai International Financial Centre in the United Arab Emirates to support Canadian clients pursuing business opportunities in the Middle East, led by Ali Fares, Managing Director and Head, Middle East and North Africa, Capital Markets. Fair value moves from CA$189.15 to CA$188.15, a reduction of around 0.5% in the modelled estimate. Revenue growth assumption is steady at around 7.87% in CA$ terms. Net profit margin remains essentially unchanged at about 32.90%, with only a minor rounding difference. Future P/E multiple shifts from 15.92x to 15.80x for forward earnings. Discount rate adjusts from 7.24% to 7.17%, reflecting a slight decrease in the required return used in the model. Narratives link a company’s business story to the assumptions behind its forecasts and fair value, so you can see why the numbers look the way they do. They update as new data, deals and risks come through, keeping the context fresh. Head over to the Simply Wall St Community and follow the Narrative on National Bank of Canada to stay up to date on: How the integration of Canadian Western Bank and ongoing digital investments are expected to influence revenue growth and net margins. The role of commercial lending and wealth management in broadening revenue sources and supporting earnings stability. Key risks around geographic concentration in Quebec, pressure on net interest margins, and competition from non bank lenders. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NA.TO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. National Bank of Canada now ranks as the Big 6 Canadian bank with the highest exposure to trading revenue volatility. New analysis highlights that TSX:NA has substantial sensitivity to equity markets and greater variability in trading income than its peers. This development puts a fresh spotlight on how trading driven revenue could influence the bank's earnings profile in more volatile market conditions. For investors watching TSX:NA, this new focus on trading revenue volatility adds another piece to the picture alongside share performance and valuation. The stock last closed at CA$184.31, with a return of 56.4% over the past year and 159.3% over the past five years. Those figures sit against a value score of 2, which may already reflect how the market is thinking about risk and reward for the bank. High sensitivity to trading revenue can affect how predictable future earnings might be when markets move sharply, which matters if you care about stability in a bank holding. As this develops, it may be useful to watch how management discusses trading income, risk controls, and revenue mix, especially around future results and market updates. Stay updated on the most important news stories for National Bank of Canada by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on National Bank of Canada. See which insiders are buying and buying and selling National Bank of Canada following this latest news. National Bank of Canada having the highest trading revenue volatility among the Big 6 puts a clear spotlight on how much of its earnings profile is tied to market activity rather than purely spread-based banking. With trading revenue at 14.9% of total revenue and a 40% coefficient of variation, the bank appears more exposed to swings in equity markets than peers like Royal Bank of Canada and Toronto Dominion Bank. For you as a shareholder or prospective investor, this can help explain why sentiment around National Bank sometimes moves more sharply around macro headlines, market stress, or strong risk-on periods, and why the current value score of 2 may already factor in some of this earnings variability. It does not negate the bank’s reputation for stability, but it does mean that investor positioning may increasingly depend on comfort with a more market-sensitive earnings mix. Higher trading revenue exposure can sit alongside the narrative of broader revenue sources, including capital markets and wealth management, which can support fee-based income over time. At the same time, elevated volatility in trading income can challenge expectations for smoother margin improvement and earnings progression if market conditions turn choppy. The existing narrative focuses heavily on lending growth, integration of Canadian Western Bank, and digital investments. This new analysis on trading variability introduces an extra dimension of earnings sensitivity that may not be fully captured. Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for National Bank of Canada to help decide what it's worth to you. ⚠️ Greater reliance on trading income, with the highest volatility among the Big 6, can make quarterly results more sensitive to equity market swings than peers like Royal Bank of Canada or Toronto Dominion Bank. ⚠️ A low allowance for bad loans at 59% points to a need to watch how credit provisions evolve if macro conditions or market sentiment weaken. 🎁 Earnings growth of 8.1% per year over the past 5 years and a dividend yield of 2.69% indicate that the bank has combined income distribution with profit growth. 🎁 The shares are currently described as trading at 31.3% below one estimate of fair value, while earnings are forecast to grow 7.33% per year, which some investors may see as a favourable risk reward balance. From here, it is worth tracking how much management leans into or away from trading related activities, and how clearly they explain the risk controls around these desks during upcoming results. Pay attention to the mix between trading, wealth management, and traditional lending revenue, as well as any changes in credit provisions that could interact with more volatile market income. Comparing National Bank’s earnings stability and disclosure with peers such as Royal Bank of Canada and Toronto Dominion Bank can also help you judge whether the higher trading sensitivity still fits your risk tolerance. To ensure you're always in the loop on how the latest news impacts the investment narrative for National Bank of Canada, head to the community page for National Bank of Canada to never miss an update on the top community narratives. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NA.TO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Net Revenue: RMB18.7 million (USD2.7 million), up 18.1% from the same period last year. Gross Loss: RMB29.1 million (USD4.1 million), compared to a gross profit of RMB11.6 million in the same period of 2024. Cost of Revenues: RMB47.8 million (USD6.8 million), up from RMB4.3 million in the same period of 2024. Total Operating Income: RMB89.9 million (USD12.8 million), up 233.9% from RMB67.1 million in the same period of 2024. Selling and Marketing Expenses: RMB2.1 million (USD0.3 million), down 56.2% from RMB4.8 million in the same period of 2024. General and Administrative Expenses: RMB33.1 million (USD4.7 million), up 30.3% from RMB25.4 million in the same period of 2024. Research and Development Expenses: RMB4.9 million (USD0.7 million), down 76.9% from RMB21.2 million in the same period of 2024. Profit from Operations: RMB60.8 million (USD8.7 million), compared with a loss from operations of RMB55.6 million in the same period of 2024. Other Income: RMB38.2 million (USD5.4 million), up from RMB1.7 million in the same period of 2024. Net Income: RMB137.7 million (USD19.6 million), compared to a net loss of RMB60.4 million in the same period of 2024. Basic and Diluted Earnings Per Share: RMB6.2 (USD0.9), compared to a loss per share of RMB6 in the same period of 2024. Cash and Cash Equivalents: RMB8.5 million (USD1.2 million) as of December 31, 2025, compared with RMB32.84 million as of December 31, 2024. Warning! GuruFocus has detected 8 Warning Signs with NA. Is NA fairly valued? Test your thesis with our free DCF calculator. Release Date: March 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano Labs Ltd (NASDAQ:NA) experienced an 18.1% increase in net revenue for the second half of 2025, driven by higher sales volume of the iPollo 5 Series products. The company successfully completed two rounds of financing in 2025, supporting strategic transformation and expansion of crypto asset reserves. Nano Labs Ltd (NASDAQ:NA) launched the iPollo ClawPC A1 Mini, a next-generation product designed to support the OpenClaw AI agent system, indicating proactive investment in AI infrastructure. The company announced a share repurchase program of up to USD25 million to enhance shareholder value and demonstrate confidence in long-term development. Net income for the second half of 2025 was RMB137.7 million, a significant improvement from a net loss in the same period of 2024. Nano Labs Ltd (NASDAQ:NA) recorded a gross loss of RMB29.1 million for the second half of 2025, compared to a gross profit in the same period of 2024. Cost of revenues increased significantly to RMB47.8 million, primarily due to inventory write-downs and value-added tax recoverable. Cash and cash equivalents decreased to RMB8.5 million as of December 31, 2025, from RMB32.84 million at the end of 2024. General and administrative expenses rose by 30.3% due to increased professional service fees. Research and development expenses decreased by 76.9%, which may indicate reduced investment in innovation and development. Q: What is the company's long-term strategic plan regarding BNB holdings? A: Jianping Kong, CEO, explained that Nano Labs has designated BNB as a core component of its crypto asset strategic reserves. The company plans to continue holding and gradually increasing its BNB holdings over time. This strategy aims to enhance crypto asset allocation capabilities and strengthen synergies with the Web3 ecosystem, providing a solid asset foundation for long-term strategic development. Q: Why did the company launch a share repurchase program? A: Jianping Kong, CEO, stated that the share repurchase program of up to USD25 million was launched to enhance shareholder value, demonstrate management's positive outlook on the company's long-term development, and signal confidence in the company's growth and operations to the capital market. The program will be implemented steadily, considering market conditions and capital allocation plans. Q: What was the rationale behind the launch of the iPollo ClawPC A1 Mini product? A: Jianping Kong, CEO, noted that the iPollo ClawPC A1 Mini is designed to support the OpenClaw AI agent system, reflecting the company's proactive investment in AI infrastructure. The product aims to capitalize on the growing prominence of AI agents as next-generation intelligent applications. The company plans to further expand its AI agent ecosystem with additional hardware products and the Claw OS system. Q: What are the company's key long-term business development directions? A: Bing Chen, CFO, highlighted two primary directions: advancing the BNB-centered crypto asset reserve strategy and expanding asset allocation when market conditions are favorable; and developing the AI agent ecosystem by launching and commercializing hardware products like the iPollo ClawPC, introducing the Claw OS system, and building an AI agent application and service ecosystem to capture opportunities from the transition from Web3 to Web4. Q: How did the company perform financially in the second half of 2025? A: Bing Chen, CFO, reported that net revenue increased by 18.1% to RMB18.7 million (USD2.7 million), driven by higher sales volume of iPollo 5 Series products. Despite a gross loss of RMB29.1 million (USD4.1 million), total operating income rose by 233.9% to RMB89.9 million (USD12.8 million). Net income was RMB137.7 million (USD19.6 million), compared to a net loss in the same period of 2024. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Management has designated BNB as a core strategic reserve, holding 126,662 BNB (plus a 3,338 BNB receivable) as of Dec. 31, 2025 and plans to gradually increase holdings to support long‑term Web3 ecosystem integration. Nano Labs launched the next‑generation AI agent device, the iPollo ClawPC A1 Mini (Mar 2026), and intends to roll out a Cloud OS and additional hardware to build an AI agent ecosystem it sees as a key next‑gen application platform. Second‑half 2025 results show a swing to profitability—net revenue of RMB 80.7M and net income RMB 137.7M—but a gross loss and a sharp cash decline to RMB 8.5M; the company completed two financings in 2025 and has commenced a $25 million share repurchase program. Interested in Nano Labs Ltd. Sponsored ADR? Here are five stocks we like better. The Hot Dog Hedge: Smithfield Acquires Nathan’s Famous Nano Labs (NASDAQ:NA) executives used the company’s second-half 2025 earnings call to outline a strategy centered on expanding a BNB-focused crypto asset reserve while advancing new AI agent-related hardware and ecosystem initiatives. Chairman and CEO Jianping Kong said the company views the broader Web3 environment as improving in 2025, citing “enhanced crypto assets, infrastructure, and increasing market participation,” which he said has brought the crypto market and Web3-related sectors into “a new phase of growth and opportunity.” → Down 25%, Chinese Giant PDD Could Be a Strong Long-Term Value 3 New Year’s Resolution Stocks That Could Turn Around in 2026 Kong said Nano Labs initiated and continued building its BNB reserves after what he described as a “comprehensive and prudent internal assessment” of BNB’s strategic value and long-term outlook. As of Dec. 31, 2025, he said the company held “a total of 126,662 BNBs, along with a receivable collateral of 3,338 BNB.” Kong added that steadily increasing BNB holdings is intended to optimize crypto asset allocation and support future business expansion and ecosystem collaboration. In the Q&A session, Kong reiterated that the company has “designated BNB as a core component of its crypto asset strategic reserves.” He told shareholders the company plans to continue holding BNB long term and “gradually increase our holding at appropriate times,” while maintaining what he called a “relatively stable reserve level.” He said the approach is aimed at strengthening synergies with the Web3 ecosystem and providing an asset foundation for the company’s long-term development. → The Often-Missed Corner of Healthcare That Wall Street Is Loving Top 3 ETFs Defense Hawks Are Buying Kong said Nano Labs completed “two rounds of financing in 2025,” which he said supported the company’s strategic transformation, expansion of crypto asset reserves, and exploration of new business directions. Management also discussed a previously announced share repurchase program. In response to a shareholder question, the company said it announced a repurchase authorization of up to $25 million in October 2025 for three main reasons: To enhance shareholder value and deliver long-term returns To demonstrate management’s positive outlook on the company’s long-term development To signal confidence in long-term growth and operations to capital markets → Russell 2000 Stocks: Too Early or Finally Interesting? The company said the program has commenced and is expected to be implemented “steadily” over the long term, taking into account market conditions and capital allocation plans. Kong said that in March 2026, the company “officially launched” its next-generation product, the iPollo ClawPC A1 Mini, designed to support the Open Claw AI Agent. He said Nano Labs plans to introduce a Cloud OS system and additional hardware products to expand its “full ecosystem services for AI agents.” Addressing another shareholder question, Kong said the iPollo ClawPC A1 Mini is intended as the company’s next-generation AI agent hardware product supporting the Open Claw AI agent system. He said Nano Labs believes AI agents may become “a key form of next generation intelligent applications,” prompting the company to invest in related infrastructure. Kong also said the company has gained “significant brand visibility” and that product sales and ecosystem development are “progressing steadily.” Looking ahead, management said it would continue monitoring industry trends and market dynamics, while advancing its crypto asset strategy and exploring broader opportunities tied to the AI agent ecosystem. Chief Financial Officer Bing Chen provided a financial overview for the second half of 2025. Chen said net revenue was RMB 80.7 million (about $2.7 million), compared with RMB 50.9 million in the same period last year, which he attributed primarily to higher sales volume of iPollo V series products. Chen said the company recorded a gross loss of RMB 29.1 million (about $4.1 million) for the second half of 2025, compared with a gross profit of RMB 11.6 million in the same period of 2024. He reported cost of revenue of RMB 47.8 million (about $6.8 million) versus RMB 4.3 million a year earlier, attributing the change mainly to write-downs of inventories and value-added tax recoverable. On expenses, Chen said selling and marketing expenses fell 56.2% year over year to RMB 2.1 million (about $0.3 million), primarily due to lower employee salary expenses. General and administrative expenses rose 30.3% to RMB 33.1 million (about $4.7 million), which he said was mainly driven by higher professional service fees. Research and development expenses decreased 76.9% to RMB 4.9 million (about $0.7 million), which Chen attributed to lower salary, material, and equipment expenses. Chen reported profit from operations of RMB 60.8 million (about $8.7 million), compared with an operating loss of RMB 55.6 million in the second half of 2024. He said other income was RMB 38.2 million (about $5.4 million), up from RMB 1.7 million a year earlier, due to “Binance Launchpool and the airdrop income for BNB holders and income for crypto investment products.” Net income for the second half of 2025 was RMB 137.7 million (about $19.6 million), compared with a net loss of RMB 60.4 million in the prior-year period. Basic and diluted earnings per share were RMB 6.2 (about $0.9), compared with a basic and diluted loss per share of RMB 6 in the second half of 2024, Chen said. As of Dec. 31, 2025, Chen said the company had cash and cash equivalents of RMB 8.5 million (about $1.2 million), compared with RMB 328.4 million as of Dec. 31, 2024. In response to a question on the company’s long-term business direction, management said Nano Labs is focused on two primary initiatives: a BNB-centered crypto asset reserve strategy and AI agent ecosystem development. The company said it plans to continue expanding its crypto asset allocation when market conditions are favorable, while advancing the launch and commercialization of AI agent hardware products, introducing Cloud OS, and building an application and service ecosystem tied to the transition “from Web3 to Web4.” Chen said management remains confident in its strategy and ability to execute, adding that the company aims to leverage its technology to capture development opportunities, drive long-term growth, and create value for shareholders. Nano Labs Ltd operates as a fabless integrated circuit design company and product solution provider in the People's Republic of China and internationally. It develops high throughput computing and high-performance computing chips. The company also offers distributed computing and storage solutions, smart network interface cards, and vision computing chips, as well as distributed rendering technology. In addition, it engages in the research and development of software. Its customers include enterprises and individual buyers. The article "Nano Labs H2 Earnings Call Highlights" was originally published by MarketBeat.

Net Revenue: RMB8.28 million (USD1.16 million), down from RMB24.74 million in the same period last year. Gross Loss: RMB10.71 million (USD1.5 million), compared to a gross profit of RMB30,000 in the same period of 2024. Cost of Revenue: RMB18.99 million (USD2.6 million), down from RMB24.1 million in the same period of 2024. Total Operating Expenses: Decreased by 53.5% to RMB27.3 million (USD3.82 million), from RMB58.72 million in the same period of 2024. Selling and Marketing Expenses: Dropped by 39.6% to RMB2.62 million (USD0.37 million), from RMB4.33 million in the same period of 2024. General and Administrative Expenses: Decreased by 15.4% to RMB21.54 million (USD3.01 million), from RMB25.45 million in the same period of 2024. Research and Development Expenses: Decreased by 89.1% to RMB3.16 million (USD0.44 million), from RMB28.93 million in the same period of 2024. Loss from Operations: RMB38.03 million (USD5.31 million), compared with a loss of RMB58.69 million in the same period of 2024. Net Loss: RMB11.78 million (USD1.65 million), compared to a net loss of RMB9.15 million in the same period of 2024. Basic and Diluted Loss Per Share: RMB0.43 (USD0.06), compared to RMB8.46 in the same period of 2024. Cash and Cash Equivalents: RMB33.44 million (USD50.77 million) as of June 30, 2025, compared with RMB36.43 million as of December 31, 2024. Warning! GuruFocus has detected 7 Warning Signs with NA. Release Date: August 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano Labs Ltd (NASDAQ:NA) has undertaken a strategic transformation focusing on cryptocurrency reserves, particularly in BNB, which is expected to drive long-term growth. The company has expanded into the emerging stable coin sectors, diversifying its strategic approach. Operating expenses decreased significantly by 53.5% in the first half of 2025, indicating improved cost management. Selling and marketing expenses dropped by 39.6%, primarily due to reduced sales commissions and salaries. Research and development expenses decreased by 89.1%, reflecting strategic adjustments in R&D activities. Net revenue for the first half of 2025 was RMB8.28 million, a significant decline from RMB24.74 million in the same period last year. The company recorded a gross loss of RMB10.71 million compared to a gross profit in the previous year, primarily due to decreased sales volume. Cost of revenue was RMB18.99 million, indicating a decrease in sales volume and inventory write-downs. Net loss increased to RMB11.78 million from RMB9.15 million in the same period of 2024. The company's focus on BNB as a core reserve asset may limit diversification and expose it to specific market risks associated with BNB. Q: Why has the company chosen BMD as their core reserve asset? A: Jianping Kong, Chairman and CEO, explained that BMD is a highly representative asset with an active ecosystem, long-term growth potential, and resilience. These factors align with the company's core strategic objectives. Q: Besides direct holding in DNB, what other measures will the company take to strengthen its strategic reserves? A: Bing Chen, CFO, stated that the company will adopt diversified approaches, including acquiring stakes in VNB strategic reserve companies and investing in enterprises with strong ecosystem synergies to build a stable strategic layout. Q: Will the company consider reserving other cryptocurrencies or focus solely on BMD? A: Jianping Kong, Chairman and CEO, mentioned that while the focus is currently on BNB due to its ecosystem maturity and growth potential, the company will monitor other crypto assets and may diversify in the future to optimize their portfolio. Q: Does the company have any financing plans for 2025, and what are the considerations behind such plans? A: Jianping Kong, Chairman and CEO, indicated that the company has initiated strategic financing in 2025 to support the expansion of their BNB strategic reserve. They will consider various financing options to support growth and ensure better execution of related business initiatives. Q: What were the reasons behind the decline in net revenue for the first half of 2025? A: Bing Chen, CFO, attributed the decline to decreased sales volume of the iPollo V Series product, inventory write-downs, and value-added tax recoverable adjustments. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.

HONG KONG, Aug. 08, 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 that it will report its unaudited financial results for the six months ended June 30, 2025 before the U.S. market opens on Friday, August 15, 2025. 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: 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 digital assets space, adopting BNB as its primary reserve asset. It has reserved in mainstream digital currencies 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 press release 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 inquiries, please contact: Nano Labs Ltd [email protected] Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected]

Net Revenue: RMB15.86 million, USD2.21 million, down from RMB26.07 million in the same period last year. Gross Profit: RMB11.57 million, USD1.61 million, compared to a gross loss of RMB40.55 million in the same period of 2023. Cost of Revenue: RMB4.28 million, USD0.6 million, down from RMB66.62 million in the same period of 2023. Total Operating Expenses: Decreased by 38.7% to RMB51.39 million, USD7.15 million, from RMB83.84 million in the same period of 2023. Selling and Marketing Expenses: Dropped by 17.7% to RMB4.8 million, USD0.67 million, from RMB5.83 million in the same period of 2023. General and Administrative Expenses: Increased by 13.5% to RMB25.38 million, USD3.5 million, from RMB22.38 million in the same period of 2023. Research and Development Expenses: Decreased by 61.9% to RMB21.2 million, USD3.0 million, from RMB55.6 million in the same period of 2023. Loss from Operations: RMB39.82 million, USD5.54 million, compared with RMB124.4 million in the same period of 2023. Net Loss: RMB60.39 million, USD8.4 million, compared to RMB120 million in the same period of 2023. Basic and Diluted Loss Per Share: RMB6.01, USD0.84, compared to RMB19.12 in the same period of 2023. Cash and Cash Equivalents: RMB32.43 million, USD4.51 million, compared with RMB48.16 million as of December 31, 2023. Warning! GuruFocus has detected 2 Warning Signs with NA. Release Date: March 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano Labs Ltd (NASDAQ:NA) has officially established Bitcoin as a new business sector and designated it as their primary reserve asset, holding about 400 BTC valued at approximately $40 million. The company launched an upgraded complete machine equipped with the Cuckoo 3.0 innovation chip, which enhances performance and meets leading standards, providing competitive advantages. Nano Labs Ltd (NASDAQ:NA) is focusing on the integration of AI and Web3.0 technologies, aiming to develop AI applications within the Web3.0 ecosystem. The company recorded a gross profit of RMB11.57 million (USD1.61 million) for the second half of 2024, a significant improvement from a gross loss in the same period of 2023. Total operating expenses decreased by 38.7% to RMB51.39 million (USD7.15 million) compared to the same period in 2023, indicating improved cost management. Net revenue for the second half of 2024 was RMB15.86 million (USD2.21 million), a decline from RMB26.07 million in the same period last year, primarily due to decreased sales volume of the iPollo V Series product. The company reported a net loss of RMB60.39 million (USD8.4 million) for the second half of 2024, although this was an improvement from the previous year's loss. Cash and cash equivalents decreased to RMB32.43 million (USD4.51 million) as of December 31, 2024, compared to RMB48.16 million at the end of 2023. General and administrative expenses increased by 13.5% to RMB25.38 million (USD3.5 million) for the second half of 2024, primarily due to increased depreciation expenses. Despite improvements, the company's income remains not significant, with ongoing challenges in optimizing product management and operations. Q: Why is the company considering increasing its holdings of Bitcoin? A: Jianping Kong, Chairman and CEO, explained that Bitcoin is viewed as a strategic asset with long-term value, crucial for the Web3.0 ecosystem. Its limited supply offers potential protection against inflation and significant appreciation potential. Bitcoin is also seen as foundational infrastructure for Web3.0 development, with many countries recognizing it as a strategic reserve asset, reinforcing its long-term value. Q: What considerations have driven the company's recent financing activities? A: Jianping Kong, Chairman and CEO, stated that the recent financing activities were driven by business adjustments and expansion initiatives, particularly the increased investment in Bitcoin. Discussions with strategic investors revealed strong alignment with the company's long-term vision, leading to successful financing. Q: What is the company's plan for future development? A: Jianping Kong, Chairman and CEO, mentioned that the company plans to focus on chip technology, expanding into metaverse computing and ecological applications. They see opportunities in the broader metaverse ecosystem and will explore emerging market opportunities, starting with cryptocurrency IC design and developing AI plus Web3.0. Q: The company's income is not significant at present. Do you have any expectations for the future? A: Bing Chen, CFO, noted that the impact of Cuckoo 3.0 equipped machines will be reflected in this year's performance. The focus is on optimizing product management and operations while being prepared to seize emerging market opportunities. Q: What are the financial highlights for the second half of 2024? A: Bing Chen, CFO, reported net revenue of RMB15.86 million, a decline from the previous year due to decreased sales volume. However, a gross profit of RMB11.57 million was recorded, compared to a gross loss in 2023. Operating expenses decreased by 38.7%, and the net loss was reduced to RMB60.39 million from RMB120 million in 2023. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.