Nano Labs Ltd Q4 FY2025 earnings call

• 2025 saw robust growth in the Web3 industry with improved global crypto market environment. The company initiated and advanced the build - out of BNB reserves, with 126,662 BNBs and 3,338 BNBs in receivable collateral as of December 31, 2025. - Completed 2 rounds of financing in 2025 to support strategic transformation, reserve expansion, and new business exploration. - Officially launched the next - generation product, the iPollo ClawPC A1 Mini in March 2026, designed to support the OpenClaw AI Agent System, and plans to introduce Claw OS system and additional hardware products. - Announced a share repurchase program of up to USD 25 million in October 2025, which has commenced and is expected to be implemented steadily. - Will continue to monitor industry trends and market dynamics, advance critical assets and strategic reserves, and explore broader opportunities with the AI agent ecosystem.

In the second half of 2025, net revenue was RMB 18.7 million (equal to USD 2.7 million), an increase of 18.1% compared to RMB 50.9 million in the same period last year, primarily due to the increase in sales volume of the iPollo V series product. Gross loss for the second half of 2025 was RMB 29.1 million (equal to USD 4.1 million) compared to a gross profit of RMB 11.6 million in the same period of 2024. Total operating income for the second half of fiscal year 2025 increased by 233.9% to RMB 89.9 million (equal to USD 12.8 million). Operating profit for the second half of 2025 was RMB 60.8 million (equal to USD 8.7 million) compared with an operating loss of RMB 55.6 million in the same period of 2024. Net income for the second half of 2025 was RMB 137.7 million (equal to USD 19.6 million) compared to a net loss of RMB 60.4 million in the same period of 2024.

• Continue to closely monitor industry trends and market dynamics while maintaining stable operations. - Further advance critical assets and strategic reserves. - Actively explore broader opportunities with the AI agent ecosystem.

None mentioned in the transcript

Q: What is the company's long - term strategic plan regarding BNB Holdings?

A: After comprehensively evaluating the development trends of crypto assets and the long - term potential of BNB, the company has designated BNB as a core component of its crypto asset strategic reserves. Over the long term, it plans to continue holding BNB and to gradually increase its holding at appropriate times, maintaining a relatively stable reserve level.

Q: Why did the company launch a share repurchase program?

A: To enhance shareholder value and demonstrate management confidence in the company's long - term development, and to signal confidence in the company's long - term growth and operations to the capital markets.

Q: What was the rationale behind the launch of the iPollo ClawPC A1 Mini product?

A: The iPollo ClawPC A1 Mini is designed to support the OpenClaw AI Agent System. The company believes that AI agents are likely to become a key form of next - generation intelligent applications and has chosen to proactively invest in the related infrastructure.

Q: What are the company's key long - term business development directions?

A: The company's future business development will focus on 2 primary directions. First, continuing to advance its BNB - centered crypto asset reserve strategy and steadily expanding asset allocation when market conditions are favorable. Second, advancing the launch and commercialization of hardware products such as the iPollo ClawPC, introducing the Claw OS system and building an AI agent application and service ecosystem to capture opportunities arising from the transition from Web3 to Web4.