Cathleen Smith

Erina Robano

Irene Laubmann

Kathleen Smith

- **Nano Labs Ltd**, through its wholly-owned subsidiary **Nano bit**, has signed a **Memorandum of Understanding (MoU)** with **TradeUP Securities Inc.** to pioneer **tokenized U.S. equities** through compliant and regulated channels.  **[1872302_0001213900-25-093457_ea025945501ex99-1_nano.htm:0]** 
- Under the MoU, Nano Labs will provide **Web3 technical solutions**, including blockchain infrastructure and tokenization processes, while TradeUP Securities will contribute its **custody, clearing, and settlement expertise** for U.S. stocks and regulated brokerage capabilities.  **[1872302_0001213900-25-093457_ea025945501ex99-1_nano.htm:0]** 
- The collaboration aims to **develop and pilot tokenized equity products**, establish joint compliance and risk-control protocols, and explore regulatory requirements to integrate tokenization technologies into regulated financial services, potentially enabling **24/7 trading** and **fractionalized access**.  **[1872302_0001213900-25-093457_ea025945501ex99-1_nano.htm:0]**

Nano Labs Ltd and TradeUP Securities Inc. Sign MoU for Tokenized U.S. Equities

- Nano Labs Ltd reported a **net loss** of **RMB 11.8 million (US$1.6 million)** for the six months ended June 30, 2025, a significant reduction from **RMB 59.1 million** in the prior year period, despite **net revenues** decreasing to **RMB 8.3 million (US$1.2 million)** from **RMB 24.7 million**.  **[1872302_0001213900-25-088368_ea025544701ex99-2_nano.htm:0]** **[1872302_0001213900-25-088368_ea025544701ex99-1_nano.htm:1]** **[1872302_0001213900-25-088368_ea025544701ex99-2_nano.htm:3]** 
- The company's **total assets** significantly increased to **RMB 1,477,728,962 (US$206,427,090)** as of June 30, 2025, from **RMB 615,933,492** at December 31, 2024, largely driven by a rise in **cryptocurrencies** to **RMB 776,702,624 (US$108,499,235)**.  **[1872302_0001213900-25-088368_ea025544701ex99-1_nano.htm:0]** 
- A **gain of RMB 48.6 million (US$6.8 million)** from the change in fair value of cryptocurrencies contributed to the reduced net loss for the six months ended June 30, 2025.  **[1872302_0001213900-25-088368_ea025544701ex99-1_nano.htm:1]** **[1872302_0001213900-25-088368_ea025544701ex99-2_nano.htm:3]**  The company adopted BNB as its primary reserve asset in July 2025, accumulating approximately **US$122.2 million in BNB** and **US$70.0 million in BTC** as of September 16, 2025.  **[1872302_0001213900-25-088368_ea025544701ex99-2_nano.htm:0]** 
- Financing activities generated **RMB 375,865,745 (US$52,505,482)** in net cash for the six months ended June 30, 2025, primarily from the issuance of ordinary shares and warrants.  **[1872302_0001213900-25-088368_ea025544701ex99-1_nano.htm:3]** **[1872302_0001213900-25-088368_ea025544701ex99-1_nano.htm:17]**  Additionally, **convertible notes denominated in Bitcoin** amounted to **RMB 470,948,166 (US$65,787,747)** as of June 30, 2025.  **[1872302_0001213900-25-088368_ea025544701ex99-1_nano.htm:0]** **[1872302_0001213900-25-088368_ea025544701ex99-2_nano.htm:3]**

Nano Labs (NA)