Nano Labs Reports Increased Assets and Liabilities

Nano Labs Ltd. Sponsored ADR Class A (NA) has released an update.

Nano Labs Ltd, in its latest unaudited financial statements, reports a substantial increase in total assets from RMB 350.3 million as of December 31, 2023, to RMB 364.9 million by June 30, 2024. However, the company also saw an increase in total liabilities over the same period and a deepening shareholders’ deficit, indicating potential financial challenges ahead. Revenue for the first half of 2024 dropped significantly compared to the same period in 2023, with a slight gross profit reported after a previous gross loss.

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