Parent-Only Financial Statements

12 Months Ended

Dec. 31, 2024

Parent-Only Financial Statements [Line Items]

Parent-only financial statements

21.    Parent-only financial statements

The Company performed a test on the restricted net assets of the consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the parent company only.

The subsidiaries did not pay any dividend to the Company for the periods presented. Certain information and footnote disclosures generally included in the financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. These statements should be read in conjunction with the notes to the consolidated financial statements of the Company.

Basis of presentation

The financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investments in its subsidiaries.

The following represents condensed financial information of the parent company:

	As of December 31,
	2023		2024
	RMB		RMB		US$
ASSETS/(LIABILITIES)
Cash and cash equivalents	1,205,993		2,227,649		309,895
Prepayments	13,776		891		124
Due from intercompany	456,041,568		814,547,651		113,314,180
Investment in subsidiaries	(471,994,335	)	(585,987,070	)	(81,518,429	)
TOTAL ASSETS (LIABILITIES)	(14,732,998	)	230,789,121		32,105,770
SHAREHOLDERS’ EQUITY (DEFICIT)
Shareholders’ equity (deficit):
Class A ordinary shares ($0.002 par value; 12,141,093 and 14,141,093 shares authorized as of December 31, 2023 and 2024, respectively; 4,192,730 and 13,273,596 shares issued as of December 31, 2023 and 2024, respectively; 3,724,236 and 12,815,143 shares outstanding as of December 31, 2023 and 2024, respectively)*	50,106		176,842		24,601
Class B ordinary shares ($0.002 par value; 2,858,909 shares authorized; 2,858,909 shares issued and outstanding as of December 31, 2023 and 2024)*	36,894		36,894		5,132
Additional paid-in capital	428,310,028		780,499,664		108,577,662
Accumulated deficit	(452,031,693	)	(565,218,741	)	(78,629,283	)
Statutory reserves	6,647,109		6,647,109		924,699
Accumulated other comprehensive income	2,254,558		8,647,353		1,202,959
TOTAL NANO LABS LTD SHAREHOLDERS’ EQUITY (DEFICIT)	(14,732,998	)	230,789,121		32,105,770

*        After giving effect of the reverse stock splits, see Note 12.

	For the years ended December 31,
	2022		2023		2024
	RMB		RMB		RMB		US$
Net revenues	—		—		—		—
Operating expenses:
Selling and marketing expenses	—		—		—		—
General and administrative expenses	5,822,906		471,664		683,178		95,039
Total operating expenses	5,822,906		471,664		683,178		95,039
Loss from operations	(5,822,906	)	(471,664	)	(683,178	)	(95,039	)
Finance income (expense)	66,144		110,971		(13,140	)	(1,828	)
Investment income	53,809		—		—		—
Income (loss) from investment in subsidiaries	36,821,839		(252,463,079	)	(112,490,730	)	(15,648,925	)
Net income (loss) attributable to Nano Labs Ltd	31,118,886		(252,823,772	)	(113,187,048	)	(15,745,792	)
Comprehensive income (loss):
Net income (loss)	31,118,886		(252,823,772	)	(113,187,048	)	(15,745,792	)
Other comprehensive income (loss)
Foreign currency translation adjustment	4,566,656		155,229		6,392,795		889,320
Total comprehensive income (loss) attributable to Nano Labs Ltd	35,685,542		(252,668,543	)	(106,794,253	)	(14,856,472	)

	For the years ended December 31,
	2022		2023		2024
	RMB		RMB		RMB		US$
Net cash provided by (used in) operating activities	3,911,561		344,012		(281,829	)	(39,206	)
Net cash used in investing activities	(155,900,936	)	(68,918,960	)	(312,142,434	)	(43,423,075	)
Net cash provided by financing activities	144,043,186		72,802,734		315,620,394		43,906,905
Effect of exchange rate changes on cash and cash equivalents	7,883,387		(3,047,562	)	(2,174,475	)	(302,498	)
Net increase (decrease) in cash and cash equivalents	(62,802	)	1,180,224		1,021,656		142,126
Cash and cash equivalents at beginning of the year	88,571		25,769		1,205,993		167,769
Cash and cash equivalents at end of the year	25,769		1,205,993		2,227,649		309,895