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Parent-Only Financial Statements | 12 Months Ended
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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 |

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