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• 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.

Positive Points

• 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.

Negative Points

• 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.