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Nano Labs posts RMB316.7m H1 loss on crypto swing
Nano Labs’ 2026 interim results show much lower hardware revenue and a large crypto fair value loss, leading to a significantly higher net loss.
Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K
Rhea-AI Filing Summary
Nano Labs Ltd (NA), a Web 3.0 infrastructure and crypto treasury company, reported sharply weaker interim results for the six months ended June 30, 2026. Net revenues fell to RMB2.8 million from RMB8.3 million a year earlier, mainly due to lower sales volumes of iPollo V Series mining machines.
The company recorded a net loss of RMB316.7 million versus a loss of RMB11.8 million in the prior-year period, driven primarily by a RMB250.5 million loss from changes in the fair value of its <a href="https://xpertsstudio.com/senate-is-to-vote-on-cryptocurrency-regulation-as-democrats-push-back-on-trump-investments/” title=”Senate is to vote on cryptocurrency regulation as Democrats push back on Trump investments”>cryptocurrency holdings, compared with a RMB48.6 million gain in 2025. Total assets declined to RMB736.7 million, with cryptocurrencies at fair value of RMB393.4 million, while total liabilities were RMB351.1 million and total shareholders’ equity dropped to RMB385.6 million.
Operating cash flow was a net outflow of RMB55.9 million, partly offset by RMB88.4 million of net cash provided by investing activities, mainly from cryptocurrency disposals and derivative settlements. Financing activities used RMB33.2 million, reflecting bank loan repayments and a repurchase of 1,042,401 Class A shares for about US$2.7 million under a 12‑month buyback program. As of September 14, 2026, management reports holding nearly US$54.0 million in BNB and US$8.8 million in USDT as reserve assets.
Positive
- None.
Negative
- Net loss rose to RMB316.7 million for the six months ended June 30, 2026, compared with RMB11.8 million a year earlier, reflecting a much weaker overall performance.
- Change in fair value of cryptocurrencies swung to a RMB250.5 million loss in 2026 from a RMB48.6 million gain in 2025, heavily impacting earnings.
- Net revenues declined to RMB2.8 million from RMB8.3 million, mainly due to lower sales volumes of iPollo V Series mining machines.
- Total shareholders’ equity fell to RMB385.6 million at June 30, 2026, down from RMB740.9 million at December 31, 2025, reflecting accumulated losses and share repurchases.
- Net cash used in operating activities was RMB55.9 million in the first half of 2026, indicating the core business and crypto activities did not fund themselves from operations.
Source: www.stocktitan.net