Nano Labs Ltd Q2 FY2025 earnings call

• The year 2025 marks a transformation for Nano Labs Ltd with focus on cryptocurrency reserves, holding over 128,000 BNB. - Accelerated expansion and collaboration in cryptocurrency field, including strategic equity investment in CEA and diversification into stablecoins. - Maintained stability in mining machine business while exploring new opportunities. - Financial results showed revenue decline, but expense reductions led to smaller losses compared to prior year.

In the first half of 2025, Nano Labs Ltd's net revenue was RMB 8,280,000 (approximately USD 1,160,000), a decline from RMB 24,740,000 in the same period of 2024. Gross loss for 2025 was RMB 10,710,000 (approximately USD 1,500,000) compared to a gross profit of RMB 30,000 in the same period of 2024. Cost of revenue for 2025 was RMB 18,990,000 (approximately USD 2,650,000) vs RMB 24,710,000 in 2024. Total operating expenses decreased by 53.5% to RMB 27.33 million (approximately USD 3,820,000). Loss from operations was RMB 38,030,000 (approximately USD 5.31 million) in 2025 vs RMB 58,690,000 in 2024. Net loss was RMB 11,780,000 (approximately USD 1,650,000) in 2025 vs RMB 59,150,000 in 2024. As of June 30, 2025, cash and cash equivalents were RMB 3.06 million (approximately USD 50,770,000) compared to RMB 32,430,000 as of December 31, 2024. The company holds over 128,000 BNB as part of its cryptocurrency reserve.

• Remain confident in business strategies and ability to execute them. - Will leverage technology to capture development opportunities and drive long-term growth.

Q: Why has the company chosen BNB as its core reserve asset?

A: BNB is a representative crypto asset with active ecosystem, long-term growth potential and resilience.

Q: Regarding your focus on BNB, what parameters will the company take to strengthen its strategy with reserves?

A: Will adopt diversified approaches like acquiring stakes in BNB strategic reserve companies and investing in synergistic enterprises.

Q: Will the company consider reserving other cryptocurrencies, or will it focus solely on BNB?

A: Currently focused on BNB but will monitor other strategic crypto assets and may allocate diversified assets in future.

Q: Does the company have any financing plans for 2025, and what are the considerations behind such plans?

A: Focused on financing to support expansion of BNB strategic reserve scale, considering various options to support Web3 business initiatives