Welcome to our dedicated page for Nano Labs news (Ticker: NA), a resource for investors and traders seeking the latest updates and insights on Nano Labs stock.
Nano Labs Ltd (NASDAQ: NA) is described in its public communications as a Web 3.0 infrastructure and product solution provider and a fabless IC design company focused on high throughput computing (HTC) and high-performance computing (HPC) chips. The Nano Labs news feed highlights how these activities intersect with capital markets, crypto-asset strategies, and Web 3.0 initiatives.
News about Nano Labs often covers corporate finance and capital markets actions, such as at-the-market equity offering arrangements, share repurchase programs, and early repayment of convertible bonds. These announcements provide context on how the company manages funding, balance sheet flexibility, and risk related to digital-asset market volatility.
Another recurring theme in Nano Labs news is its crypto-asset reserve strategy. The company reports adopting BNB as its primary reserve asset, holding reserves in BNB and BTC, and periodically updating the market on the scale and role of these holdings in its broader strategy. News items also describe initiatives in the Web 3.0 and computing-power sectors, including collaborations around blockchain infrastructure, tokenization processes, and programs aimed at real world asset-related ecosystems on blockchain networks.
Governance and listing developments also appear in Nano Labs’ news, including the transfer of its listing to the Nasdaq Global Market and shareholder meeting results related to share structure and voting rights. Investors and observers who follow NA news can use this page to review company-issued press releases and related updates that are also furnished to the SEC on Form 6-K.
Nano Labs (Nasdaq: NA) announced the results of its Annual General Meeting held on October 23, 2024. Shareholders approved three key resolutions: (1) A share consolidation of 10:1, changing share par value from $0.0002 to $0.002, resulting in an authorized capital of $50,000 divided into 25 million ordinary shares; (2) Adoption of new memorandum and articles of association reflecting the share consolidation; and (3) Appointment of MaloneBailey, LLP as independent auditor for FY2024. The share consolidation will take effect on October 29, 2024.
Nano Labs (Nasdaq: NA), a leading fabless integrated circuit design company in China, has regained compliance with Nasdaq's minimum market value of publicly held shares (MVPHS) requirement. The company received a notice from Nasdaq on October 10, 2024, confirming its compliance with Listing Rule 5450(b)(2)(C).
Previously, on July 11, 2024, Nano Labs was notified of non-compliance for failing to maintain a MVPHS of $15,000,000 over 30 consecutive trading days. To regain compliance, the company needed to maintain this minimum MVPHS for at least 10 consecutive trading days. Nasdaq determined that Nano Labs met this requirement on October 9, 2024, resolving the deficiency.
Nano Labs (Nasdaq: NA), a leading fabless integrated circuit design company in China, announced that its Chairman and CEO, Mr. Jianping Kong, has increased his stake in the company. In September 2024, Mr. Kong purchased 1,107,935 Class A ordinary shares in open-market transactions using personal funds. This marks the second time in 2024 that Mr. Kong has increased his shareholding in Nano Labs.
The company stated that these transactions complied with internal trading policies and relevant regulations. Mr. Kong expressed optimism about Nano Labs' long-term prospects and indicated he might continue to increase his shareholding in the future.
Nano Labs (Nasdaq: NA) has announced its 2024 Annual General Meeting of Shareholders, scheduled for October 23, 2024, at 10 A.M. Beijing time. The meeting will address three key points:
1. A share consolidation, merging every ten shares into one, changing the par value from US$0.0002 to US$0.002.
2. Amending the company's memorandum and articles of association to reflect this consolidation.
3. Appointing MaloneBailey, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
The record date for shareholder voting eligibility is set for September 27, 2024. If approved, the share consolidation will take effect on October 29, 2024, with trading on the Nasdaq Capital Market expected to begin on a post-consolidation basis the following business day.
Nano Labs (Nasdaq: NA), a leading fabless integrated circuit design company in China, has announced the conversion of US$8.5 million in interest-free loans into Class A ordinary shares. The loans were provided by the company's chairman and CEO, Mr. Jianping Kong, and vice chairman, Mr. Qifeng Sun, along with their affiliates.
The conversion, which closed on September 23, 2024, resulted in the issuance of 27,914,614 Class A ordinary shares at a price of US$0.3045 per share. This price was based on the average closing price over the 10 trading days prior to September 19, 2024. As a result of this conversion, Nano Labs has been released from any future liabilities or obligations related to these loans.
Nano Labs (Nasdaq: NA) announced its unaudited financial results for the first half of 2024. Net revenue decreased to RMB24.7 million (US$3.5 million) from RMB52.3 million in the same period of 2023. The company reported a gross profit of RMB30.1 thousand, compared to a gross loss of RMB62.9 million in H1 2023. Net loss narrowed to RMB59.1 million (US$8.3 million) from RMB134.3 million year-over-year. The company highlighted the successful mass production of the Cuckoo 3.0 chip and ongoing development of AI and ZK computing chips. To address working capital needs, Nano Labs secured interest-free loans totaling US$8.5 million from shareholders in August and September 2024.
Nano Labs (Nasdaq: NA), a leading fabless integrated circuit design company in China, has announced it will report its unaudited financial results for the first half of fiscal year 2024 (six months ended June 30, 2024) on September 18, 2024, before the U.S. market opens. The company will host an earnings conference call at 8:30 am U.S. Eastern Time (8:30 pm Beijing Time) on the same day.
Participants can join the call by registering through the provided link. A live and archived webcast will be available on the company's investor relations website. A telephone replay will be accessible until September 25, 2024, with dial-in numbers provided for US/Canada, Hong Kong, and China.
Nano Labs announced it received a deficiency letter from Nasdaq on July 11, 2024, stating it is no longer in compliance with Nasdaq Listing Rule 5450(b)(2)(C). The company’s Market Value of Publicly Held Shares (MVPHS) has fallen below the required $15 million. Although this does not result in immediate delisting, Nano Labs has 180 days, until January 7, 2025, to regain compliance by maintaining an MVPHS of at least $15 million for 10 consecutive business days. The management is exploring options to meet the requirements and retain its Nasdaq listing. The announcement complies with Nasdaq Listing Rule 5810(b) mandating prompt disclosure of such notifications.
Nano Labs (Nasdaq: NA), a fabless integrated circuit design company, announced on May 24, 2024, that it received two deficiency letters from Nasdaq indicating non-compliance with listing rules. The issues include failing to maintain a minimum market value of $50 million and a minimum bid price of $1 per share. The company also does not meet alternatives for total assets and revenue. These letters do not immediately delist the shares but give Nano Labs 180 days until November 19, 2024, to regain compliance. Management is exploring options to address these deficiencies and plans to submit a compliance plan promptly.
Nano Labs announced the launch and mass production of its latest Cuckoo3.0 chip. This new chip marks a significant upgrade from its predecessor, the Cuckoo2.0, with an impressive single-core computing power of 1.2GH/s, which is approximately four times higher in performance. Additionally, the Cuckoo3.0 improves energy efficiency by 83%, consuming only 0.14W/MHash. These advancements are expected to be integrated into Nano Labs' next-generation V series products, bolstering their technology offerings in the Web3.0 industry.