Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2023 | |
Document Information Line Items | |
Entity Registrant Name | Nano Labs Ltd |
Document Type | F-1 |
Amendment Flag | false |
Entity Central Index Key | 0001872302 |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | China Yuangu Hanggang Technology Building509 Qianjiang Road |
Entity Address, Address Line Two | Shangcheng District |
Entity Address, City or Town | Hangzhou, Zhejiang |
Entity Address, Postal Zip Code | 310000 |
Entity Address, Country | CN |
City Area Code | (212) |
Local Phone Number | 947-7200 |
Business Contact | |
Document Information Line Items | |
Entity Address, Address Line One | 122 East 42nd Street |
Entity Address, Address Line Two | 18th Floor |
Entity Address, City or Town | New York |
Entity Address, Postal Zip Code | 10168 |
Contact Personnel Name | COGENCY GLOBAL INC. |
Entity Address, State or Province | NY |
City Area Code | (212) |
Local Phone Number | 947-7200 |
Consolidated Balance Sheets
Consolidated Balance Sheets | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | |
Current assets: | ||||
Cash and cash equivalents | ¥ 48,164,664 | $ 6,800,325 | ¥ 87,811,272 | |
Restricted cash | 417,990 | 59,016 | 48,112 | |
Accounts receivable, net | 1,739,065 | 245,537 | ||
Inventories, net | 12,874,986 | 1,817,808 | 102,201,746 | |
Prepayments | 24,386,010 | 3,443,039 | 71,314,254 | |
Other current assets | 37,908,092 | 5,352,209 | 27,275,215 | |
Total current assets | 125,490,807 | 17,717,934 | 288,650,599 | |
Non-current assets: | ||||
Property, plant and equipment, net | 169,653,582 | 23,953,236 | 21,426,955 | |
Intangible asset, net | 47,731,288 | 6,739,137 | 48,717,132 | |
Operating lease right-of-use assets | 7,424,554 | 1,048,266 | 8,447,978 | |
Total non-current assets | 224,809,424 | 31,740,639 | 78,592,065 | |
TOTAL ASSETS | 350,300,231 | 49,458,573 | 367,242,664 | |
Current liabilities: | ||||
Short-term debts | 20,000,000 | 2,823,782 | ||
Current portion of long-term debts | 3,410,000 | 481,455 | 280,000 | |
Accounts payable | 16,875,586 | 2,382,649 | 15,292,843 | |
Advance from customers | 107,826,617 | 15,223,942 | 124,469,097 | |
Operating lease liabilities, current | 3,479,752 | 491,303 | 4,199,361 | |
Other current liabilities | 90,978,171 | 12,845,126 | 39,399,532 | |
Total current liabilities | 242,570,126 | 34,248,257 | 183,640,833 | |
Non-current liabilities: | ||||
Long-term debts | 120,260,783 | 16,979,511 | 16,673,316 | |
Operating lease liabilities, non-current | 3,730,672 | 526,730 | 2,514,115 | |
Total liabilities | 366,561,581 | 51,754,498 | 202,828,264 | |
Shareholders’ equity (deficit): | ||||
Additional paid-in capital | 428,310,028 | 60,472,706 | 354,803,564 | |
Accumulated deficit | (452,031,693) | (63,821,945) | (199,207,921) | |
Statutory reserves | 6,647,109 | 938,499 | 6,647,109 | |
Accumulated other comprehensive income | 2,254,558 | 318,319 | 2,099,329 | |
Total Nano Labs Ltd shareholders’ equity (deficit) | (14,732,998) | (2,080,138) | 164,414,400 | |
Noncontrolling interests | (1,528,352) | (215,787) | ||
Total shareholders’ equity (deficit) | (16,261,350) | (2,295,925) | 164,414,400 | |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) | 350,300,231 | 49,458,573 | 367,242,664 | |
Class A Ordinary Shares | ||||
Shareholders’ equity (deficit): | ||||
Ordinary shares | [1] | 50,106 | 7,074 | 35,425 |
Class B Ordinary Shares | ||||
Shareholders’ equity (deficit): | ||||
Ordinary shares | [1] | ¥ 36,894 | $ 5,209 | ¥ 36,894 |
[1]After giving effect of the reverse stock split, see Note 1. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Class A Ordinary Shares | ||
Ordinary shares par value (in Dollars per share) | $ 0.0002 | $ 0.0002 |
Ordinary shares authorized | 121,410,923 | 121,410,923 |
Ordinary shares issued | 41,927,302 | 27,159,258 |
Ordinary shares outstanding | 37,242,359 | 27,159,258 |
Class B Ordinary Shares | ||
Ordinary shares par value (in Dollars per share) | $ 0.0002 | $ 0.0002 |
Ordinary shares authorized | 28,589,078 | 28,589,078 |
Ordinary shares issued | 28,589,078 | 28,589,078 |
Ordinary shares outstanding | 28,589,078 | 28,589,078 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) ¥ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2021 CNY (¥) ¥ / shares shares | ||
Income Statement [Abstract] | |||||
Net revenues | ¥ 78,335,376 | $ 11,060,101 | ¥ 983,168,898 | ¥ 39,440,897 | |
Cost of revenues | 181,784,576 | 25,666,000 | 753,004,179 | 43,530,708 | |
Gross profit (loss) | (103,449,200) | (14,605,899) | 230,164,719 | (4,089,811) | |
Operating expenses: | |||||
Selling and marketing expenses | 15,332,523 | 2,164,785 | 24,431,649 | 5,119,072 | |
General and administrative expenses | 53,402,101 | 7,539,794 | 53,197,248 | 24,121,823 | |
Research and development expenses | 88,601,470 | 12,509,561 | 131,851,602 | 145,455,181 | |
Total operating expenses | 157,336,094 | 22,214,140 | 209,480,499 | 174,696,076 | |
Profit (loss) from operations | (260,785,294) | (36,820,039) | 20,684,220 | (178,785,887) | |
Other expenses (income): | |||||
Finance expenses (income) | 920,055 | 129,902 | (4,407,504) | 509,764 | |
Interest income | (489,098) | (69,055) | (2,005,580) | (3,495,208) | |
Other expenses (income) | (6,846,803) | (966,694) | (4,021,582) | (855,959) | |
Total other expenses (income) | (6,415,846) | (905,847) | (10,434,666) | (3,841,403) | |
Income (loss) before income tax provision | (254,369,448) | (35,914,192) | 31,118,886 | (174,944,484) | |
Income tax provision | (17,394) | (2,456) | |||
Net income (loss) | (254,352,054) | (35,911,736) | 31,118,886 | (174,944,484) | |
Less: net loss attributable to noncontrolling interests | (1,528,282) | (215,777) | |||
Net income (loss) attributable to Nano Labs Ltd | (252,823,772) | (35,695,959) | 31,118,886 | (174,944,484) | |
Comprehensive income (loss): | |||||
Net income (loss) | (254,352,054) | (35,911,736) | 31,118,886 | (174,944,484) | |
Other comprehensive income (loss) | |||||
Foreign currency translation adjustment | 155,159 | 21,907 | 4,566,656 | (2,467,327) | |
Total comprehensive income (loss) | (254,196,895) | (35,889,829) | 35,685,542 | (177,411,811) | |
Comprehensive loss attributable to noncontrolling interests | (1,528,352) | (215,787) | |||
Comprehensive income (loss) attributable to Nano Labs Ltd | ¥ (252,668,543) | $ (35,674,042) | ¥ 35,685,542 | ¥ (177,411,811) | |
Net income (loss) per ordinary share attributable to Nano Labs Ltd | |||||
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) | [1] | ¥ (4.29) | $ (0.61) | ¥ 0.58 | ¥ (3.89) |
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | [1] | ¥ (4.29) | $ (0.61) | ¥ 0.58 | ¥ (3.89) |
Weighted average number of shares used in per share calculation: | |||||
Basic (in Shares) | [1] | 58,885,071 | 58,885,071 | 53,244,500 | 44,938,990 |
Diluted (in Shares) | [1] | 58,885,071 | 58,885,071 | 53,307,605 | 44,938,990 |
[1]After giving effect of the reverse stock split, see Note 1. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders’ Equity (Deficit) | Class A Ordinary Shares CNY (¥) shares | Class A Ordinary Shares USD ($) shares | Class B Ordinary Shares CNY (¥) shares | Class B Ordinary Shares USD ($) shares | Ordinary Shares CNY (¥) shares | Ordinary Shares USD ($) shares | Additional Paid-in Capital CNY (¥) | Additional Paid-in Capital USD ($) | Statutory Reserves CNY (¥) | Statutory Reserves USD ($) | Accumulated Deficit CNY (¥) | Accumulated Deficit USD ($) | Accumulated Other Comprehensive Income (Loss) CNY (¥) | Accumulated Other Comprehensive Income (Loss) USD ($) | Noncontrolling Interest CNY (¥) | Noncontrolling Interest USD ($) | CNY (¥) | USD ($) | ||||||
Balance (in Dollars) | ¥ 51,135 | [1] | ¥ 163,747 | ¥ (48,735,214) | ¥ (48,520,332) | |||||||||||||||||||
Balance (in Shares) | shares | 39,624,502 | [1] | 39,624,502 | [1] | ||||||||||||||||||||
Balance at Dec. 31, 2020 | ¥ 51,135 | [1] | 163,747 | (48,735,214) | (48,520,332) | |||||||||||||||||||
Balance (in Shares) at Dec. 31, 2020 | shares | 39,624,502 | [1] | 39,624,502 | [1] | ||||||||||||||||||||
Balance at Dec. 31, 2021 | ¥ 66,970 | [1] | 201,418,380 | (223,679,698) | (2,467,327) | (24,661,675) | ||||||||||||||||||
Balance (in Shares) at Dec. 31, 2021 | shares | 51,895,002 | [1] | 51,895,002 | [1] | ||||||||||||||||||||
Issuance of ordinary shares for cash | ¥ 15,835 | [1] | 201,184,154 | 201,199,989 | ||||||||||||||||||||
Issuance of ordinary shares for cash (in Shares) | shares | [1] | 12,270,500 | 12,270,500 | |||||||||||||||||||||
Cash contribution from shareholders | 51,135 | 51,135 | ||||||||||||||||||||||
Share-based compensation | 19,344 | 19,344 | ||||||||||||||||||||||
Net income (loss) | (174,944,484) | (174,944,484) | ||||||||||||||||||||||
Foreign currency translation adjustment | (2,467,327) | (2,467,327) | ||||||||||||||||||||||
Balance (in Dollars) | ¥ 66,970 | [1] | 201,418,380 | (223,679,698) | (2,467,327) | (24,661,675) | ||||||||||||||||||
Balance (in Shares) | shares | 51,895,002 | [1] | 51,895,002 | [1] | ||||||||||||||||||||
Balance at Dec. 31, 2022 | ¥ 35,425 | [1] | ¥ 36,894 | [1] | 354,803,564 | 6,647,109 | (199,207,921) | 2,099,329 | 164,414,400 | |||||||||||||||
Balance (in Shares) at Dec. 31, 2022 | shares | [1] | 27,159,258 | 27,159,258 | 28,589,078 | 28,589,078 | |||||||||||||||||||
Share-based compensation | 9,347,347 | 9,347,347 | ||||||||||||||||||||||
Transfer to reserve | 6,647,109 | (6,647,109) | ||||||||||||||||||||||
Re-designation of ordinary shares to Class A and Class B ordinary shares immediately prior the completion of initial public offering | ¥ 30,076 | [1] | ¥ 36,894 | [1] | ¥ (66,970) | [1] | ||||||||||||||||||
Re-designation of ordinary shares to Class A and Class B ordinary shares immediately prior the completion of initial public offering (in Shares) | shares | [1] | 23,305,924 | 23,305,924 | 28,589,078 | 28,589,078 | (51,895,002) | (51,895,002) | |||||||||||||||||
Share issuance initial public offering, net of issuance cost | ¥ 2,388 | [1] | 111,937,012 | 111,939,400 | ||||||||||||||||||||
Share issuance initial public offering, net of issuance cost (in Shares) | shares | [1] | 1,770,000 | 1,770,000 | |||||||||||||||||||||
Share issuance following initial public offering, net of issuance cost | ¥ 2,961 | [1] | 32,100,825 | 32,103,786 | ||||||||||||||||||||
Share issuance following initial public offering, net of issuance cost (in Shares) | shares | 2,083,334 | 2,083,334 | [1] | [1] | ||||||||||||||||||||
Net income (loss) | 31,118,886 | 31,118,886 | ||||||||||||||||||||||
Foreign currency translation adjustment | 4,566,656 | 4,566,656 | ||||||||||||||||||||||
Balance (in Dollars) | ¥ 35,425 | [1] | ¥ 36,894 | [1] | 354,803,564 | 6,647,109 | (199,207,921) | 2,099,329 | 164,414,400 | |||||||||||||||
Balance (in Shares) | shares | [1] | 27,159,258 | 27,159,258 | 28,589,078 | 28,589,078 | |||||||||||||||||||
Balance at Dec. 31, 2023 | ¥ 50,106 | [1] | $ 7,074 | [1] | ¥ 36,894 | [1] | $ 5,209 | [1] | 428,310,028 | $ 60,472,706 | 6,647,109 | $ 938,499 | (452,031,693) | $ (63,821,945) | 2,254,558 | $ 318,319 | ¥ (1,528,352) | $ (215,787) | (16,261,350) | $ (2,295,925) | ||||
Balance (in Shares) at Dec. 31, 2023 | shares | [1] | 37,242,359 | 37,242,359 | 28,589,078 | 28,589,078 | |||||||||||||||||||
Issuance of ordinary shares | ¥ 13,947 | [1] | 72,788,053 | 72,802,000 | ||||||||||||||||||||
Issuance of ordinary shares (in Shares) | shares | 9,578,544 | 9,578,544 | [1] | [1] | ||||||||||||||||||||
Issuance of ordinary shares upon the exercise of stock options | ¥ 734 | [1] | 734 | |||||||||||||||||||||
Issuance of ordinary shares upon the exercise of stock options (in Shares) | shares | [1] | 504,557 | 504,557 | |||||||||||||||||||||
Share-based compensation | 718,411 | 718,411 | ||||||||||||||||||||||
Net income (loss) | (252,823,772) | (1,528,282) | (254,352,054) | (35,911,736) | ||||||||||||||||||||
Foreign currency translation adjustment | 155,229 | (70) | 155,159 | |||||||||||||||||||||
Balance (in Dollars) | ¥ 50,106 | [1] | $ 7,074 | [1] | ¥ 36,894 | [1] | $ 5,209 | [1] | ¥ 428,310,028 | $ 60,472,706 | ¥ 6,647,109 | $ 938,499 | ¥ (452,031,693) | $ (63,821,945) | ¥ 2,254,558 | $ 318,319 | ¥ (1,528,352) | $ (215,787) | ¥ (16,261,350) | $ (2,295,925) | ||||
Balance (in Shares) | shares | [1] | 37,242,359 | 37,242,359 | 28,589,078 | 28,589,078 | |||||||||||||||||||
[1]After giving effect of the reverse stock split, see Note 1. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Cash flows from operating activities: | ||||
Net income (loss) | ¥ (254,352,054) | $ (35,911,736) | ¥ 31,118,886 | ¥ (174,944,484) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||
Amortization of right-of-use assets | 5,752,591 | 812,203 | 5,505,422 | 2,920,433 |
Depreciation and amortization expenses | 4,422,560 | 624,417 | 3,928,131 | 2,609,699 |
Gain (loss) on lease termination | 113,588 | 16,037 | (12,088) | |
Share-based compensation | 718,411 | 101,432 | 9,347,347 | 19,344 |
Inventory write-down | 60,767,978 | 8,579,776 | 184,073,191 | 26,753,768 |
Changes in assets and liabilities: | ||||
Accounts receivable, net | (1,732,378) | (244,593) | 1,165,716 | |
Inventories, net | 28,782,243 | 4,063,739 | (71,446,484) | (233,385,726) |
Prepayments | 47,159,593 | 6,658,420 | 304,300,103 | (364,369,453) |
Other current assets | 511,358 | 72,198 | 51,740,635 | (38,564,595) |
Accounts payable | 898,564 | 126,867 | 10,591,202 | 1,937,951 |
Accounts payable - related party | (4,716,981) | |||
Advance from customers | (16,662,392) | (2,352,548) | (794,302,470) | 851,987,235 |
Operating lease liabilities, current | (4,349,974) | (614,169) | (5,330,448) | (4,687,184) |
Other current liabilities | (5,504,025) | (777,108) | (4,466,304) | 5,019,233 |
Net cash provided by (used in) operating activities | (133,473,937) | (18,845,065) | (274,940,789) | 71,732,868 |
Cash flows from investing activities: | ||||
Purchases of property, plant and equipment | (105,482,822) | (14,893,024) | (17,531,162) | (8,692,683) |
Refund of prepayment for property, plant and equipment | 550,000 | |||
Purchases of short-term investment | (32,293,440) | |||
Proceeds from sales of short-term investments | 33,640,500 | |||
Purchases of intangible assets | (49,292,208) | |||
Loan provided to a related party | (100,000) | |||
Collection of loan provided to a related party | 4,490,000 | |||
Net cash used in investing activities | (105,482,822) | (14,893,024) | (33,182,870) | (36,046,123) |
Cash flows from financing activities: | ||||
Repayment to related parties | (31,355,000) | |||
Proceeds from issuance of ordinary shares | 72,802,734 | 10,278,952 | 144,043,186 | 201,199,989 |
Cash contribution from shareholders | 51,135 | |||
Proceeds from bank loans | 128,247,467 | 18,107,144 | 17,093,316 | |
Repayments of bank loans | (1,530,000) | (216,019) | (140,000) | |
Repayment of loan payable | (5,000,000) | |||
Net cash provided by financing activities | 199,520,201 | 28,170,077 | 160,996,502 | 164,896,124 |
Effects of exchange rate changes on cash, cash equivalents and restricted cash | 159,828 | 22,566 | 1,132,887 | (2,062,387) |
Net increase (decrease) in cash, cash equivalents and restricted cash | (39,276,730) | (5,545,446) | (145,994,270) | 198,520,482 |
Cash, cash equivalents and restricted cash at beginning of the year | 87,859,384 | 12,404,787 | 233,853,654 | 35,333,172 |
Cash, cash equivalents and restricted cash at end of the year | 48,582,654 | 6,859,341 | 87,859,384 | 233,853,654 |
Supplemental cash flow disclosures: | ||||
Interest paid | 3,773,028 | 532,710 | 180,619 | |
Income taxes paid | 89,169 | 276,186 | ||
Non-cash investing and financing activities: | ||||
Operating lease right-of-use asset obtained in exchange for operating lease liability | 5,015,808 | 708,177 | 4,557,092 | |
Liabilities assumed in connection with purchase of property, plant and equipment | ¥ 46,180,063 | $ 6,520,121 |
Organization and Nature of Oper
Organization and Nature of Operations | 12 Months Ended |
Dec. 31, 2023 | |
Organization and Nature of Operations [Abstarct] | |
Organization and nature of operations | 1. Nano Labs Ltd (“Nano Labs”), incorporated on January 8, 2021, is a holding company, as an exempted company with limited liability in the Cayman Islands. Nano Labs principally engages in fabless integrated circuit (“IC”) design and sale of product solutions by integrating its self -designed -party Prior to the incorporation of the Company, the Company’s business was carried out by Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”) and its subsidiaries. Zhejiang Haowei was established by Mr. Jianping Kong, the principal shareholder, chairman and chief executive officer, in July 2019. Nano Labs underwent a series of onshore and offshore reorganizations, which were completed in September 2021 (the “Reorganization”). Immediately before and after the Reorganization, the controlling shareholders of Zhejiang Haowei controlled Zhejiang Haowei and Nano Labs; therefore, for accounting purposes, the Reorganization is accounted for as a transaction of entities under common control. Accordingly, the accompanying consolidated financial statements have been prepared as if the current corporate structure had been in existence throughout the periods presented. The Company does not conduct any substantive operations on its own but instead conducts its business operations through its subsidiaries. As of the date of this report, the Company’s major subsidiaries are as follows: Name of subsidiaries Date of Place of Ownership Principal Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”) July 16, 2019 Hangzhou, China 100% Research and development of ICs Zhejiang Nanomicro Technology Co., Ltd. (“Zhejiang Nanomicro”) July 16, 2019 Hangzhou, China 100% Research and development of ICs Zhejiang NanoBlock Technology Co., Ltd. July 16, 2019 Hangzhou, China 100% Research and development of ICs Zhejiang Ipollo Technology Co., Ltd. August 18, 2020 Hangzhou, China 100% Distribution of products Nano Labs HK Limited September 8, 2020 Hong Kong 100% Investment Nano Labs Inc December 22, 2020 BVI 100% Investment Zhejiang Weike Technology Co., Ltd. June 2, 2021 Hangzhou, China 100% Research and development of software IPOLLO PTE. LTD. (formerly IPOLLO MINER PTE.LTD.) June 9, 2021 Singapore 100% Distribution of products Ipollo Tech Inc June 29, 2021 BVI 100% Investment Nano Tech Cayman Ltd July 6, 2021 Cayman 100% Investment Nano Technology HK Limited July 7, 2021 Hong Kong 100% Investment Ipollo HK Limited July 7, 2021 Hong Kong 100% Distribution of products Zhejiang Metaverse Technology Co., Ltd. August 12, 2021 Hangzhou, China 100% Investment Ipollo Tech Ltd October 27, 2021 Cayman 100% Investment Haowei Technology (Shaoxing) Co., Ltd. November 3, 2021 Shaoxing, China 100% Investment Shenzhen Matamata Technology Co., Ltd. November 17, 2021 Shenzhen, China 100% Distribution of products Shenzhen Matavos Technology Co., Ltd. December 21, 2021 Shenzhen, China 100% Distribution of products Tsuki Inc January 7, 2022 United States 100% Distribution of products Name of subsidiaries Date of Place of Ownership Principal Metaski (Shaoxing) Technology Co., Ltd. January 13, 2022 Shaoxing, China 100% Distribution of products Haoweiverse (Shaoxing) Technology Co., Ltd. January 13, 2022 Shaoxing, China 65% Plant and distribution of products Metameta (Shaoxing) Technology Co., Ltd. January 25, 2022 Shaoxing, China 100% Distribution of products Ipolloverse HK Limited May 18, 2022 Hong Kong 70% Research and development Metaverse (Shaoxing) Technology Co., Ltd. May 20, 2022 Shaoxing, China 100% Distribution of products Ipolloverse Cayman Ltd May 27, 2022 Cayman 70% Investment Ipolloverse Tech Inc May 30, 2022 BVI 70% Investment Hangzhou Meta Technology Co., Ltd. October 21, 2022 Hangzhou, China 100% Distribution of products Nano Labs and its consolidated subsidiaries are collectively referred to herein as the “Company”, “we” and “us”, unless specific reference is made to an entity. Reverse stock split On January 31, 2024, a two -for-one Liquidity During the year ended December 31, 2023, the Company incurred net loss of RMB254 million, and the net cash used in operating activities was RMB133 million. As of December 31, 2023, the Company had a working capital deficit of RMB117 million and accumulated deficit of RMB452 million. Historically, the Company has relied principally on both operational sources of cash and non -operational As a result, the Company’s cash flow projections for the period after one year from the date that the consolidated financial statements are issued indicate that the Company’s existing cash and cash equivalents, together with the operating cash flows will be sufficient to cover the liquidity needs that become due within one year after the date that the consolidated financial statements are issued. Management’s plans described above have alleviated the previously identified substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. However, the Company may need additional capital in the future to fund the continued operations of the Company. There can be no assurance that the Company will be successful in acquiring additional financing, that the Company’s projections of its future working capital needs will prove accurate, or that any additional financing would be sufficient to continue operations in future years. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Basis of preparation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for information pursuant to the rules and regulations of the SEC. Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below. Use of estimates The preparation of the Company’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements including, but not limited to, inventory write -down -lived -based Principles of consolidation The Company’s consolidated financial statements include the financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. Functional currency and foreign currency translation The Company uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated outside of PRC is the United States dollar (“US$”), while the functional currency of the PRC entities in the Company is RMB as determined based on the criteria of ASC 830, “ Foreign Currency Matters” Transactions denominated in other than the functional currencies are re -measured -measured The financial statements of the Company are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the Company and its subsidiaries incorporated outside of PRC are translated into RMB at fiscal year -end Convenience translation The United States dollar (“US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ were calculated at the rate of US$1.00=RMB7.0827 on December 31, 2023, representing the central parity rate on December 31, 2023 published by the People’s Bank of China. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on December 31, 2023, or at any other rate. Concentration of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions with high credit ratings and quality. Fair value measurement The Company adopted the guidance of Accounting Standards Codification (“ASC”) 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market -based Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. ASC 820 also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate to fair value because of their short -term Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Related parties may be individuals or corporate entities. Transactions involving related parties cannot be presumed to be carried out on an arm’s -length -length Cash and cash equivalents Cash and cash equivalents include cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less and are readily convertible to known amounts of cash. As of December 31, 2022 and 2023, cash and cash equivalents in banks was RMB87,811,272 and RMB48,164,664, respectively. Restricted cash Restricted cash mainly represents the bank deposit frozen by the court as a result of legal proceedings. As of December 31, 2022 and 2023, the Company had restricted cash RMB48,112 and RMB417,990, respectively. Inventories, net Inventories, consist of raw materials, work in process and finished goods. Inventories are stated at the lower of cost and net realizable value. Cost of inventory is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventory to the estimated net realizable value due to slow -moving Prepayments Prepayments primarily consist of advances to suppliers for future inventory purchases, prepaid processing fees and prepaid expenses for research and development activities. Property, plant and equipment, net Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight -line Computers and electronic equipment 2 to 3 years Office furniture 5 years Transportation equipment 4 years Leasehold improvements are depreciated using the straight -line Construction in progress represents assets under construction. All direct costs relating to the construction are capitalized as construction in progress. Construction in progress is not depreciated until the asset is placed in service. Intangible asset, net The Company’s intangible asset with definite useful lives primarily consists of a franchise right and land use right. According to the law of PRC, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government for a specified period of time. The Company amortizes its franchise right and land use right on a straight -line Franchise right 2 years Land use right 50 years Impairment of long-lived assets For long -lived -of-use no -lived Revenue from contracts with customers Consistent with the criteria of ASC 606 “Revenue from Contracts with Customers”, the Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. Revenue consists of the invoiced value for the sales net of value -added Product sales revenue The Company generates revenue primarily from the sale of product solutions by integrating its self -designed The Company recognizes revenue at a point in time when the control of the products has been transferred to customers. The transfer of control is considered complete when products have been picked up by or shipped to customers. The Company’s sales arrangements usually require prepayment before the delivery of products. The advance payment is not considered a significant financing component. The Company elected to account for shipping and handling fees as a fulfillment cost. The product sales contracts generally include product warranty provisions. The Company did not accrue warranty liabilities for the product sales as the financial impacts of the warranty have historically been and are expected to continue to be immaterial. The Company estimates sales return based on historical experiences and there was no allowance for sales return recorded during the years ended December 31, 2021, 2022 and 2023. Service revenue The Company also generates revenue from its design and technical services under separate contracts. Revenues from the design and technical service to the customers are recognized at a point in time when services are provided. Revenue disaggregation In accordance with ASC 606, the Company disaggregates revenue from contracts with customers by revenue stream. The Company determined that disaggregating revenue into these categories meets the disclosure objective in ASC 606 which is to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by regional economic factors. The following table summarizes the net revenues generated from different revenue streams: For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB Product sales revenue 39,440,897 920,653,911 71,321,462 Service revenue — 62,514,987 7,013,914 Net revenues 39,440,897 983,168,898 78,335,376 Contract liabilities Contract liabilities are recorded when consideration is received from a customer prior to transferring the control of goods or services to the customer. As of December 31, 2022 and 2023, the Company recorded contract liabilities of RMB124,469,097 and RMB107,826,617, respectively, which were presented as advance from customers on the accompanying consolidated balance sheets. During the years ended December 31, 2021, 2022 and 2023, the Company recognized RMB4,241,270, RMB804,875,532 and RMB23,740,945 of contract liabilities as revenue, respectively. Cost of revenues Amounts recorded as cost of revenue relate to direct expenses incurred in order to generate revenue. Such costs are recorded as incurred. Cost of revenues consists of product costs and service costs. Product costs include costs of raw material, contract manufacturers for production, shipping and handling costs, and warehousing costs. Service costs include labor costs and material costs. During the years ended December 31, 2021, 2022 and 2023, the Company recorded inventory write -down Selling and marketing expenses Selling and marketing expenses consist primarily of advertising and promotion, salaries, and shipping and handling costs incurred during the selling activities. Advertising and transportation expenses are charged to expense as incurred. Advertising and promotion costs in the amounts of RMB992,996, RMB10,901,200 and RMB1,278,586 for the years ended December 31, 2021, 2022 and 2023, respectively, are included in selling and marketing expenses. Shipping and handling costs amounting to RMB371,769, RMB4,233,084 and RMB2,122,358 for the years ended December 31, 2021, 2022 and 2023, respectively, are included in selling and marketing expenses. Research and development expenses Research and development expenses consist primarily of salary and welfare for research and development personnel, raw materials used, consulting and contractor expenses, testing and processing expenses and other expenses in associated with research and development activities. The Company recognizes research and development expenses as expense when incurred. Leases Right -of-use -of-use The Company elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Company recognizes lease expenses for such leases on a straight -line Employee social security and welfare benefits Employees of the Company in the PRC are entitled to staff welfare benefits including pension, work -related -mandated -employer The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Company’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made. Share-based compensation Restricted shares and options granted to employees and directors are accounted for under ASC Topic 718, “Compensation — Stock compensation” (“ASC 718”). In accordance with ASC 718, the Company determines whether restricted shares or options should be classified and accounted for as an equity award. All grants of restricted shares and options to employees and directors classified as equity awards are recognized in the financial statements based on their grant date fair values. The value of the portion of the award that is ultimately expected to vest is recognized as compensation expense over the requisite service periods in the statements of operations. In addition, compensation expense must be recognized for the change in fair value of any awards modified, repurchased or cancelled after the grant date. The fair value of stock option granted is estimated on the grant date using the Binomial or Black -Scholes Income taxes The Company accounts for income taxes under the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax income rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded if it is more likely than not that some portion or all of the deferred income tax assets will not be realized in the foreseeable future. In accordance with the provisions of ASC 740, “Income taxes”, the Company recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is “more likely than not” to be sustained upon examination based solely on the technical merits of the position. Tax positions that meet the recognition threshold are measured using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. Interest and penalties arising from underpayment of income taxes are computed in accordance with the applicable tax law and is classified in the consolidated statements of operations as income tax expense. Noncontrolling interests For the Company’s consolidated subsidiaries, noncontrolling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. Noncontrolling interests are classified as a separate line item in the equity section of the Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated statements of operations and comprehensive income (loss). Comprehensive income (loss) Comprehensive income/(loss) is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments from shareholders and distributions to shareholders. Comprehensive income (loss) for the periods presented includes net income (loss) and foreign currency translation adjustments. Earnings (loss) per share The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is computed by dividing net income (loss) attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year. Diluted earnings (loss) per share is calculated by dividing net income (loss) attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year. Dilutive equivalent shares are excluded from the computation of diluted earnings (loss) per share if their effects would be anti -dilutive -based Segment Reporting The Company uses the “management approach” in determining reportable segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s chief operating decision maker has been identified as the chief executive officer of the Company who reviews financial information of operating segments based on U.S. GAAP. The chief operating decision maker now reviews results analyzed by marketing channel. This analysis is only presented at the revenue level with no allocation of direct or indirect costs. Consequently, the Company has determined that it has only one operating segment. For the years ended December 31, 2021, 2022 and 2023, substantially all of the Company’s long -lived For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB PRC 37,430,935 906,347,962 57,485,526 The United States 368,532 16,278,352 7,115,353 Others 1,641,430 60,542,584 13,734,497 Net revenues 39,440,897 983,168,898 78,335,376 Recently adopted or issued accounting pronouncements In June 2016, the FASB issued ASU 2016 -13 -19 -04 -05 -11 -02 -03 -13 -13 In October 2023, the FASB issued ASU 2023 -06 -X -K In November 2023, the FASB issued ASU 2023 -07 -07 In December 2023, the FASB issued ASU No. 2023 -09 -09 |
Inventories, Net
Inventories, Net | 12 Months Ended |
Dec. 31, 2023 | |
Inventories, Net [Abstract] | |
Inventories, net | 3. Inventories, net consist of the following: As of 2022 2023 RMB RMB Raw materials 69,914,306 56,952,428 Work in process 158,693,203 130,609,171 Finished goods 81,807,783 90,377,688 Less: write-down of inventories (208,213,546 ) (265,064,301 ) Inventories, net 102,201,746 12,874,986 |
Prepayments
Prepayments | 12 Months Ended |
Dec. 31, 2023 | |
Prepayments [Abstract] | |
Prepayments | 4. Prepayments consist of the following: As of 2022 2023 RMB RMB Prepayments – inventories and processing fee 64,813,532 14,645,763 Prepayments – design fees 3,850,329 7,162,700 Prepayments – others 2,650,393 2,577,547 Total 71,314,254 24,386,010 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2023 | |
Other Current Assets [Abstract] | |
Other current assets | 5. Other current assets consist of the following: As of 2022 2023 RMB RMB Value-added tax recoverable 23,731,587 34,041,675 Deposits 3,434,080 2,361,968 Others 109,548 1,504,449 Total 27,275,215 37,908,092 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, plant and equipment, net | 6. Property, plant and equipment, net consist of the following: As of 2022 2023 RMB RMB Cost: Computers and electronic equipment 9,537,316 12,098,631 Office furniture 266,252 266,252 Leasehold improvement 1,550,648 1,550,648 Transportation equipment 41,014 41,014 Construction in progress 16,119,419 165,221,605 Less: Accumulated depreciation (6,087,694 ) (9,524,568 ) Property, plant and equipment, net 21,426,955 169,653,582 Depreciation expenses recognized for the years ended December 31, 2021, 2022 and 2023 were RMB2,510,398, RMB3,353,055 and RMB3,436,716, respectively. |
Intangible Asset, Net
Intangible Asset, Net | 12 Months Ended |
Dec. 31, 2023 | |
Intangible Assets, Net [Abstract] | |
Intangible asset, net | 7. Intangible asset, net consists of the following: As of 2022 2023 RMB RMB Cost: Land use right 49,292,208 49,292,208 Franchise right 334,865 334,865 Less: Accumulated amortization (909,941 ) (1,895,785 ) Intangible asset, net 48,717,132 47,731,288 Amortization expense for the years ended December 31, 2021, 2022 and 2023 amounted to RMB99,301, RMB575,076 and RMB985,844, respectively. As of December 31, 2022 and 2023, land use right with net book value of RMB48,717,132 and RMB47,731,288 was pledged as collateral under a loan arrangement (also see Note 10). As of December 31, 2023, the future estimated amortization expenses are as below. Years ended December 31, Estimated amortization expense RMB 2024 985,844 2025 985,844 2026 985,844 2027 985,844 2028 985,844 Thereafter 42,802,068 Total 47,731,288 |
Operating Leases
Operating Leases | 12 Months Ended |
Dec. 31, 2023 | |
Operating Leases [Abstract] | |
Operating leases | 8. The Company entered into various operating lease agreements for offices space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following component of lease cost are included in the Company’s consolidated statements of operations and comprehensive income (loss): For the year ended December 31, 2021 For the year ended December 31, 2022 For the year ended December 31, 2023 RMB RMB RMB Operating lease cost 3,277,780 11,385,312 6,051,298 Short-term lease cost 1,867,850 295,564 198,306 Total lease cost 5,145,630 11,680,876 6,249,604 Supplemental disclosure related to operating leases were as follows: For the year ended December 31, 2021 For the year ended December 31, 2022 For the year ended December 31, 2023 RMB RMB RMB Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases 5,068,864 5,822,406 4,648,690 As of As of Weighted average remaining lease term of operating leases (years) 1.65 3.53 Weighted average discount rate of operating leases 6.24 % 6.24 % The following table summarizes the maturity of operating lease liabilities as of December 31, 2023: As of December 31, 2023 RMB 2024 3,605,781 2025 1,194,360 2026 1,194,360 2027 1,197,632 2028 602,088 Total lease payments 7,794,221 Less: imputed interest (583,797 ) Total lease liabilities 7,210,424 |
Other Current Liabilities
Other Current Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Other Current Liabilities [Abstract] | |
Other current liabilities | 9. Other current liabilities consist of the following: As of December 31, 2022 As of December 31, 2023 RMB RMB Salary accrual 8,536,985 7,013,473 Deposit 10,000,000 10,000,000 Accrued construction in progress — 46,180,063 Tax accrual 13,609,170 13,604,797 Others 7,253,377 14,179,838 Total 39,399,532 90,978,171 |
Short-Term and Long-Term Debts
Short-Term and Long-Term Debts | 12 Months Ended |
Dec. 31, 2023 | |
Short-Term and Long-Term Debts [Abstract] | |
Short-term and long-term debts | 10. Short -term On September 21, 2023, the Company entered into a credit facility (the “Credit Facility”) up to RMB20,000,000 to be used for working capital and general corporate purposes. The Credit Facility has a one -year nil Long -term On August 11, 2022, the Company entered into a line of credit agreement with Zhejiang Shaoxing Ruifeng Rural Commercial Bank for a credit line up to RMB100,000,000 with a due date on July 25, 2030. In June 2023, the credit line was increased to a maximum amount of RMB148,000,000, with guarantee provided by Mr. Jianping Kong, the principal shareholder, chairman and chief executive officer starting from July 2023. During the year ended December 31, 2022 and 2023, the Company borrowed RMB17,093,316 and RMB108,247,467 under the credit line and repaid RMB140,000 and RMB1,530,000, respectively. The loans bear an annual interest rate of 5.4% with repayment dates for parts of the loan ranging from September 20, 2022 to July 25, 2030. The loans are pledged by the land use right of the Company (mentioned in Note 7). As of December 31, 2023, the future maturities of long -term As of December 31, RMB 2024 3,410,000 2025 4,630,000 2026 5,850,000 2027 7,070,000 2028 8,290,000 Thereafter 94,420,783 Total 123,670,783 |
Shareholders_ Equity (Deficit)
Shareholders’ Equity (Deficit) | 12 Months Ended |
Dec. 31, 2023 | |
Shareholders’ Equity (Deficit) [Abstract] | |
Shareholders’ equity (deficit) | 11. On January 8, 2021, Nano Labs Ltd was incorporated in the Cayman Islands. The authorized share capital of the Company is 250,000,000 ordinary shares with par value of US$0.0002 each after giving effects of the reverse stock split as described in Note 1. In April and May 2021, the Company entered into agreements with fourteen new shareholders to issue a total of 10,375,500 ordinary shares for total cash proceeds of RMB 81,000,000 (approximately US$12,600,000). In August 2021, the Company entered into agreements with six new shareholders to issue a total of 1,895,000 ordinary shares for total consideration of US$18,950,000 (approximately RMB122,300,000). Immediately prior to the completion of the initial public offering (“IPO”) on July 12, 2022, the Company adopted a dual -class -designated -for-one -designated -for-one Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to 15 votes per share. Each Class B ordinary share is convertible at any time into one Class A ordinary share, while Class A ordinary shares are not convertible into Class B ordinary shares. On July 14, 2022, the Company completed the IPO with new issuance of ADSs representing 1,770,000 Class A ordinary shares at a price of US$11.50 per ADS and per ordinary share for gross proceeds of approximately US$20.4 million. The Company received all the net proceeds of approximately US$16.6 million (approximately RMB111,939,400) after deducting underwriting discounts and commissions and other offering expenses by July 14, 2022. On September 30, 2022, the Company completed the supplemental offering with new issuance of ADSs representing 2,083,334 Class A ordinary shares at price of US$2.40 per ADS and per ordinary share for gross proceeds of approximately US$5.0 million. The Company received all the net proceeds of approximately US$4.5 million (approximately RMB32,103,786) after deducting underwriting discounts and commissions and other offering expenses by October 5, 2022. On July 28, 2023, the Company entered into agreements with Mr. Jianping Kong, the chairman and chief executive officer, and Mr. Qifeng Sun, the vice chairman, along with their respective affiliates (the “Lenders”), who together provided interest -free -NICs On November 13, 2023, the Company issued a total of 5,189,500 Class A ordinary shares, being the maximum aggregate number of shares which may be issued under the 2022 Share Incentive Plan (see Note 12) of the Company, to Nanoeco Ltd (“Nanoeco”), a British Virgin Islands limited liability company wholly owned by Kastle Limited, who has been designated as the nominee holder for the 5,189,500 Class A ordinary shares, which serves as the ESOP platform. During the year ended December 31, 2023, a total of 504,557 options were exercised by employees at exercise price of US$0.0002 per share and the shares were transferred to the employees from the ESOP platform. On December 29, 2023, Citibank N.A. distributed a notification regarding the amendment to the deposit agreement, dated December 19, 2023, as amended, and the termination of American depositary receipts facility for the Company’s American depositary shares, effective from February 1, 2024. As of December 31, 2022 and 2023, nil |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Compensation [Abstract] | |
Share-based compensation | 12. 2022 Share Incentive Plan In June 2022, our shareholders and board of directors adopted our 2022 -diluted Restricted Stock Units (“RSUs”) On November 1, 2021, the Board of the Company approved the establishment of an employee benefit trust for the purpose of holding the Company’s ordinary shares to be transferred to the recipient employees and directors of the share awards granted prior to the establishment of the 2022 Plan. In January 2022, Mr. Jianping Kong and other original shareholders of Zhejiang Haowei transferred a total of 5,626,678 ordinary shares held by them on behalf of the respective equity reward holders to Nanometa Ltd. (“Nanometa”), the nominee of the employee benefit trust. 273,155 shares held by Nanometa were sold on behalf of the recipient employees and directors. As of December 31, 2023, a total of 5,353,523 shares were still held by Nanometa, which comprises of: 1) 4,161,023 shares held on behalf of and transferable to the recipient employes and directors upon request; 2) 895,018 shares transferable to the recipient employees and directors upon vesting; and 3) 214,149 shares unassigned due to forfeiture of share awards. During the years ended December 31, 2021, 2022 and 2023, share -based The following table summarized the RSUs activity and related information for the year ended December 31, 2022 and 2023: Number of Weighted Average Unvested, January 1, 2022 3,090,710 0.02 Granted — — Forfeited 81,131 0.02 Vested 1,003,192 0.02 Unvested, December 31, 2022 2,006,387 0.02 Granted — — Forfeited 216,350 0.02 Vested 895,019 0.02 Unvested, December 31, 2023 895,018 0.02 Options On January 1, 2022, the Company granted an employee an option to purchase 250,000 Class A ordinary shares of the Company with an exercise price of US$0.0004 per share. The option granted has a contractual term of 10 years. For the reward, 33.3% will be vested on December 31, 2022 or one year after the Company completed the initial public offering, whichever is earlier; 33.3% will be vested on December 31, 2023 or two years after the Company completed the initial public offering, whichever is earlier; and 33.3% will be vested on December 31, 2024 or three years after the Company completed the initial public offering, whichever is earlier. During the year ended December 31, 2023, the employee exercised the option to purchase a total of 83,333 shares. The shares were held on behalf of and transferable to the employee by Nanometa, the nominee of the employee benefit trust. The option granted on January 1, 2022 was valued using the binomial model with the assistance of an independent valuation firm using the management’s estimates and assumptions. Significant assumptions used in the valuation are set as below: January 1, Spot price on valuation date US$ Expected volatility 137.01 % Risk-free interest rate 1.51 % Dividend yield 0.00 % Forfeiture rate 0.00 % On April 27, 2023, the Company granted a series of options under the 2022 10 10 10 options in 2) and 3) described above were subject to performance conditions based on the result of an annual performance review of the grantee in accordance with the predetermined performance targets. The Company estimated the annual performance review result for each grantee and recognized the related compensation expenses. On August 16, 2023, under the 2022 plan, the Company granted an employee an option to purchase 12,987 ordinary shares of the Company with an exercise price of US$0.0002 per share. The options granted have a contractual term of 10 The options granted under the 2022 plan were valued using the Black -Scholes For the year ended Spot price on valuation date US$ Expected volatility 120.95% – 123.34% Risk-free interest rate 3.53% – 4.28% Dividend yield 0.00% The following table summarizes the share options activity and related information for the years ended December 31, 2022 and 2023: Number of Options Weighted Average Exercise Weighted Average Remaining Term Weighted Average Aggregated Outstanding as of January 1, 2022 — — — — — Granted 250,000 0.003 10.0 60.94 Forfeited — — — — Exercised — — — — Outstanding as of December 31, 2022 250,000 0.003 9.0 60.94 2,001,626 Vested and exercisable as of December 31, 2022 83,333 0.003 9.0 60.94 667,209 Granted 861,860 0.001 9.3 7.34 Forfeited 211,584 0.003 — 49.57 Exercised 587,890 0.002 — 14.94 Outstanding as of December 31, 2023 312,386 0.001 9.3 7.34 4,004,469 Vested and exercisable as of December 31, 2023 71,517 0.001 9.3 7.34 916,775 During the years ended December 31, 2021, 2022 and 2023, share -based nil -based |
Statutory Reserves
Statutory Reserves | 12 Months Ended |
Dec. 31, 2023 | |
Statutory Reserves [Abstract] | |
Statutory Reserves | 13. The Company’s subsidiaries incorporated in the PRC are required on an annual basis to make appropriations of retained earnings set at certain percentage of after -tax Appropriation to the statutory general reserve should be at least 10% of the after tax net income determined in accordance with the legal requirements in the PRC until the reserve is equal to 50% of the entities’ registered capital. The Company is not required to make appropriation to other reserve funds and the Company does not have any intentions to make appropriations to any other reserve funds. The general reserve fund can only be used for specific purposes, such as offsetting the accumulated losses, enterprise expansion or increasing the registered capital. Appropriations to the general reserve funds are classified in the consolidated balance sheets as statutory reserves. There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Company has not done so. Relevant laws and regulations permit payments of dividends by the PRC subsidiaries and affiliated companies only out of their retained earnings, if any, as determined in accordance with respective accounting standards and regulations. Accordingly, the above balances are not allowed to be transferred to the Company in terms of cash dividends, loans or advances. The Company has made nil nil |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 12 Months Ended |
Dec. 31, 2023 | |
Earnings (Loss) Per Share [Abstract] | |
Earnings (loss) per share | 14. The calculation of basic earnings (loss) per share is based on the income (loss) attributable to ordinary shareholders of the Company and weighted -average Diluted earnings (loss) per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the respective periods. For the year ended December 31, 2023, the options granted under the 2022 The following reflects the income and share data used in the basic and diluted earnings (loss) per ordinary share computations: For the years ended December 31, 2021 2022 2023 RMB RMB RMB Earnings (loss) attributable to ordinary shareholders of the Company (174,944,484 ) 31,118,886 (252,823,772 ) Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation 44,938,990 53,244,500 58,885,071 Basic earnings (loss) per share (3.89 ) 0.58 (4.29 ) Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation (174,944,484 ) 31,118,886 (252,823,772 ) Weighted average number of ordinary shares outstanding diluted earnings (loss) per share calculation 44,938,990 53,244,500 58,885,071 Adjusted for: – incremental shares issuable related to options issued — 63,105 — Weighted average number of shares outstanding for diluted earnings (loss) per share calculation 44,938,990 53,307,605 58,885,071 Diluted earnings (loss) per share (3.89 ) 0.58 (4.29 ) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Taxes [Abstract] | |
Income Taxes | 15. Cayman Islands Under the current tax laws of Cayman Islands, the holding companies incorporated in the Cayman Islands are not subject to income, corporation or capital gains tax, and no withholding tax is imposed upon the payment of dividends. British Virgin Islands The holding companies incorporated in the British Virgin Islands are not subject to tax on income or capital gains under current British Virgin Islands law. In addition, upon payments of dividends by these entity to the shareholders, no British Virgin Islands withholding tax will be imposed. Hong Kong The Company’ subsidiaries incorporated in Hong Kong are subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 8.25% on assessable profits arising in or derived from Hong Kong up to HKD2,000,000 and 16.5% on any part of assessable profits over HKD2,000,000 United States (“US”) The Company’s subsidiary in the US is subject to profits tax at 21% statutory tax rate with respect to the profit generated from the US. The company did not make any provisions for the US profit tax as there were no assessable profits derived from or earned in the US since inception. Singapore The company incorporated in Singapore is subject to Singapore Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Singapore tax laws. The applicable tax rate is 17% in Singapore, with 75% of the first SGD100,000 PRC The Company’s subsidiaries incorporated in the PRC are subject to PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws. A new enterprise income tax law (the “EIT Law”) in the PRC was enacted and became effective on January 1, 2008. The EIT Law applies a uniform 25% enterprise income tax (“EIT”) rate to both foreign invested enterprises and domestic enterprises. Accordingly, the Company’s PRC subsidiaries are subject to the EIT rate of 25%. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re -apply -tech A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows: For the Years Ended December 31, 2021 2022 2023 PRC statutory income tax rates 25.00 % 25.00 % 25.00 % Effect of expenses not deductible for tax purposes (0.22 )% 0.91 % (0.42 )% Effect of additional deduction of research and development expense 15.18 % (64.43 )% 5.98 % Effect of income tax exemptions and reliefs (13.14 )% (56.77 )% (5.71 )% Recovery from deferred income tax assets 0.00 % (97.39 )% 0.05 % Effect of valuation allowance on deferred income tax assets (26.35 )% 171.26 % (23.52 )% Income tax difference under different tax jurisdictions (0.47 )% 21.42 % (1.37 )% Total 0.00 % 0.00 % 0.01 % The provision for income taxes consists of the following: For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB Current income tax expense (benefit) — — (17,394 ) Deferred tax expense — — — Income tax expense — — (17,394 ) Significant component of deferred tax assets are as follows: As of 2022 2023 Net operating loss carryforward 63,038,127 77,373,944 Accrued expense and others (29,335,373 ) (282,843 ) Inventory impairment 47,198,866 51,027,391 Deferred tax assets 80,901,620 128,118,492 Less: valuation allowance (80,901,620 ) (128,118,492 ) Deferred tax assets — — The provision of valuation allowance for the years ended December 31, 2021, 2022 and 2023 were RMB42,631,572, RMB24,519,326 and RMB47,333,923, respectively. The reversal of valuation allowance for the years ended December 31, 2021, 2022 and 2023 were nil 117,051 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of the Company’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences. Uncertain tax positions The tax authority of the PRC Government conducts periodic and ad hoc tax filing reviews on business enterprises operating in the PRC after those enterprises complete their relevant tax filings. In general, the PRC tax authority has up to five years to conduct examinations of the tax filings of the Company’s PRC entities. Accordingly, the PRC subsidiaries’ tax years of 2019 through 2022 remain open to examination by the respective tax authorities. It is therefore uncertain as to whether the PRC tax authority may take different views about the Company’s PRC entities’ tax filings, which may lead to additional tax liabilities. The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31,2022 and 2023, the Company did not have any significant unrecognized uncertain tax positions. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related party transactions | 16. Related parties with whom the Company conducted business consist of the following: Name of related party Nature of Relationship Jianping Kong Principal shareholder, chairman and chief executive officer Qifeng Sun Principal shareholder and vice chairman Hangzhou Weiditu Technology Co., Ltd. Company controlled by Jianping Kong During the year ended December 31, 2021, the Company repaid RMB19,270,000 to Jianping Kong. As of December 31, 2022 and 2023, the amounts due to Jianping Kong were nil During the year ended December 31, 2021, the Company repaid RMB12,085,000 to Qifeng Sun. As of December 31, 2022 and 2023, the amounts due to Qifeng Sun were nil During the year ended December 31, 2021, the Company lent RMB100,000 to and collected RMB4,490,000 from Hangzhou Weiditu Technology Co., Ltd. As of December 31, 2022 and 2023, the amounts due from Hangzhou Weiditu Technology Co., Ltd. were nil During the year ended December 31, 2021, the Company purchased raw materials and services in amount of RMB328,411 from Hangzhou Weiditu Technology Co., Ltd., and made payment in amount of RMB5,045,392 to it. As of December 31, 2022 and 2023, the accounts payable to Hangzhou Weiditu Technology Co., Ltd. were nil The amounts due from related party and due to related parties are unsecured, non -interest During the year ended December 31, 2023, Jianping Kong and Qifeng Sun provided guarantee for the Company’s debts and provided interest -free |
Concentrations
Concentrations | 12 Months Ended |
Dec. 31, 2023 | |
Concentrations [Abstract] | |
Concentrations | 17. The following table sets forth information as to each customer that accounted for 10% or more of the Company’s revenues for the years ended December 31, 2021, 2022 and 2023: For the Years Ended December 31, 2021 2022 2023 Customer A 59 % — — Customer B 15 % — — Customer C — — 15 % Customer D — 12 % The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchase for the years ended December 31, 2021, 2022 and 2023: For the Years Ended December 31, 2021 2022 2023 Supplier A — — 38 % Supplier B 50 % 32 % — Supplier C 34 % — — Supplier D — — 14 % Supplier E 13 % 23 % — |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies [Abstarct] | |
Commitments and contingencies | 18. Operating lease commitments The information of lease commitments is provided in Note 8. Purchase commitments The Company’s commitments related to the construction in progress but not yet reflected in the consolidated financial statements were RMB39,119,300 as of December 31, 2023 and were expected to be incurred within one year. Contingencies The Company is subject to litigation matters from time to time in the normal cause of business. The Company’s legal counsel and the management routinely assess the likelihood of adverse judgments and outcomes to these matters, as well as ranges of probable losses. Accruals are recorded for these matters to the extent that management concludes a loss is probable and the financial impact, should an adverse outcome occur, is reasonable estimable. The Company has not recorded any material liabilities in this regard as of December 31, 2022 and 2023. On September 8, 2023, a customer named one of the Company’s subsidiaries as the defendant of a claim in the General Division of the High Court of the Republic of Singapore. This customer alleged that the Company failed to make timely delivery for products purchased and such products did not function as expected, demanding a return of payments of US$300,000 with relevant damages, interests and costs. Given the nature of the case, as of the filing date, the amount liable by the Company in the event of an unfavorable outcome cannot be reasonably estimated. On December 25, 2023, three of the Company’s subsidiaries were named as defendants along with others unaffiliated to the Company in a civil action filed at the People’s Court of Yuhuatai District, Nanjing City. The plaintiff of such civil action alleged that it entered into a sales contract for the Company’s products with one of the defendants who purportedly purchased the Company’s products for resale and failed to make timely delivery. The plaintiff seeks to rescind the sales contract with this defendant and demands a return of payments of RMB47,000,000 with interests accrued by all defendants including the Company’s three subsidiaries. Given the nature of the case, as of the filing date, the amount liable by the Company in the event of an unfavorable outcome cannot be reasonably estimated. The Company believes they have strong arguments against these claims and will defend vigorously. Two bank accounts of the Company were judicially frozen by the court as a result of the legal proceedings. The frozen amount as of December 31, 2023 and the date of this annual report was RMB417,990 and RMB418,201, respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent events | 19. The following subsequent events were evaluated on April 8, 2024, the date the financial statements were issued. Except as set forth below, there were no events that occurred subsequent to December 31, 2023 that require adjustment to or disclosure in the consolidated financial statements. On January 25, 2024, the shareholders of the Company approved a 2 -for-1 On February 5, 2024, an employee who holds options under the 2022 From January to April 2024, the Company borrowed a total of approximately RMB20.2 million from Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co., Ltd under the credit line pledged by the land use right of the Company as described in Note 10. The additional borrowings bear an annual interest rate of 5.4% with repayment dates for parts of the loan ranging from June 20, 2024 to July 25, 2030. |
Parent-Only Financial Statement
Parent-Only Financial Statements | 12 Months Ended |
Dec. 31, 2023 | |
Parent-Only Financial Statements [Abstract] | |
Parent-only financial statements | 20. The Company performed a test on the restricted net assets of the consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S -X -08 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, 2022 2023 RMB RMB US$ ASSETS/(LIABILITIES) Cash and cash equivalents 25,769 1,205,993 170,273 Prepayments — 13,776 1,945 Due from intercompany 380,321,338 456,041,568 64,388,096 Investment in subsidiaries (215,932,707 ) (471,994,335 ) (66,640,453 ) TOTAL ASSETS (LIABILITIES) 164,414,400 (14,732,998 ) (2,080,139 ) SHAREHOLDERS’ EQUITY (DEFICIT) Shareholders’ equity (deficit): Class A ordinary shares ($0.0002 par value; 121,410,923 shares authorized; 27,159,258 and 41,927,302 shares issued as of December 31, 2022 and 2023, respectively; 27,159,258 and 37,242,359 shares outstanding as of December 31, 2022 and 2023, respectively)* 35,425 50,106 7,074 Class B ordinary shares ($0.0002 par value; 28,589,078 shares authorized; 28,589,078 shares issued and outstanding as of December 31, 2022 and 2023)* 36,894 36,894 5,209 Additional paid-in capital 354,803,564 428,310,028 60,472,705 Accumulated deficit (199,207,921 ) (452,031,693 ) (63,821,945 ) Statutory reserves 6,647,109 6,647,109 938,499 Accumulated other comprehensive income 2,099,329 2,254,558 318,319 TOTAL NANO LABS LTD SHAREHOLDERS’ EQUITY (DEFICIT) 164,414,400 (14,732,998 ) (2,080,139 ) * For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Net revenues — — — — Operating expenses: Selling and marketing expenses 980 — — — General and administrative expenses 306,775 5,822,906 471,664 66,594 Total operating expenses 307,755 5,822,906 471,664 66,594 Loss from operations (307,755 ) (5,822,906 ) (471,664 ) (66,594 ) Finance income — 66,144 110,971 15,668 Investment income — 53,809 — — Income (loss) from investment in subsidiaries (174,636,729 ) 36,821,839 (252,463,079 ) (35,645,033 ) Net income (loss) attributable to Nano Labs Ltd (174,944,484 ) 31,118,886 (252,823,772 ) (35,695,959 ) Comprehensive income (loss): Net income (loss) (174,944,484 ) 31,118,886 (252,823,772 ) (35,695,959 ) Other comprehensive income (loss) Foreign currency translation adjustment (2,467,327 ) 4,566,656 155,229 21,917 Total comprehensive income (loss) attributable to Nano Labs Ltd (177,411,811 ) 35,685,542 (252,668,543 ) (35,674,042 ) For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Net cash provided by (used in) operating activities (535,017 ) 3,911,561 344,012 48,571 Net cash used in investing activities (201,554,446 ) (155,900,936 ) (68,918,960 ) (9,730,605 ) Net cash provided by financing activities 201,251,124 144,043,186 72,802,734 10,278,952 Effect of exchange rate changes on cash and cash equivalents 926,910 7,883,387 (3,047,562 ) (430,284 ) Net increase (decrease) in cash and cash equivalents 88,571 (62,802 ) 1,180,224 166,634 Cash and cash equivalents at beginning of the year — 88,571 25,769 3,639 Cash and cash equivalents at end of the year 88,571 25,769 1,205,993 170,273 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Basis of preparation | Basis of preparation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for information pursuant to the rules and regulations of the SEC. Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below. |
Use of estimates | Use of estimates The preparation of the Company’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements including, but not limited to, inventory write -down -lived -based |
Principles of consolidation | Principles of consolidation The Company’s consolidated financial statements include the financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. |
Functional currency and foreign currency translation | Functional currency and foreign currency translation The Company uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated outside of PRC is the United States dollar (“US$”), while the functional currency of the PRC entities in the Company is RMB as determined based on the criteria of ASC 830, “ Foreign Currency Matters” Transactions denominated in other than the functional currencies are re -measured -measured The financial statements of the Company are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the Company and its subsidiaries incorporated outside of PRC are translated into RMB at fiscal year -end |
Convenience translation | Convenience translation The United States dollar (“US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ were calculated at the rate of US$1.00=RMB7.0827 on December 31, 2023, representing the central parity rate on December 31, 2023 published by the People’s Bank of China. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on December 31, 2023, or at any other rate. |
Concentration of credit risk | Concentration of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions with high credit ratings and quality. |
Fair value measurement | Fair value measurement The Company adopted the guidance of Accounting Standards Codification (“ASC”) 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable, market -based Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. ASC 820 also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate to fair value because of their short -term |
Related party transactions | Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Related parties may be individuals or corporate entities. Transactions involving related parties cannot be presumed to be carried out on an arm’s -length -length |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents include cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less and are readily convertible to known amounts of cash. As of December 31, 2022 and 2023, cash and cash equivalents in banks was RMB87,811,272 and RMB48,164,664, respectively. |
Restricted cash | Restricted cash Restricted cash mainly represents the bank deposit frozen by the court as a result of legal proceedings. As of December 31, 2022 and 2023, the Company had restricted cash RMB48,112 and RMB417,990, respectively. |
Inventories, net | Inventories, net Inventories, consist of raw materials, work in process and finished goods. Inventories are stated at the lower of cost and net realizable value. Cost of inventory is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventory to the estimated net realizable value due to slow -moving |
Prepayments | Prepayments Prepayments primarily consist of advances to suppliers for future inventory purchases, prepaid processing fees and prepaid expenses for research and development activities. |
Property, plant and equipment, net | Property, plant and equipment, net Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight -line Computers and electronic equipment 2 to 3 years Office furniture 5 years Transportation equipment 4 years Leasehold improvements are depreciated using the straight -line Construction in progress represents assets under construction. All direct costs relating to the construction are capitalized as construction in progress. Construction in progress is not depreciated until the asset is placed in service. |
Intangible asset, net | Intangible asset, net The Company’s intangible asset with definite useful lives primarily consists of a franchise right and land use right. According to the law of PRC, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government for a specified period of time. The Company amortizes its franchise right and land use right on a straight -line Franchise right 2 years Land use right 50 years |
Impairment of long-lived assets | Impairment of long-lived assets For long -lived -of-use no -lived |
Revenue from contracts with customers | Revenue from contracts with customers Consistent with the criteria of ASC 606 “Revenue from Contracts with Customers”, the Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. Revenue consists of the invoiced value for the sales net of value -added Product sales revenue The Company generates revenue primarily from the sale of product solutions by integrating its self -designed The Company recognizes revenue at a point in time when the control of the products has been transferred to customers. The transfer of control is considered complete when products have been picked up by or shipped to customers. The Company’s sales arrangements usually require prepayment before the delivery of products. The advance payment is not considered a significant financing component. The Company elected to account for shipping and handling fees as a fulfillment cost. The product sales contracts generally include product warranty provisions. The Company did not accrue warranty liabilities for the product sales as the financial impacts of the warranty have historically been and are expected to continue to be immaterial. The Company estimates sales return based on historical experiences and there was no allowance for sales return recorded during the years ended December 31, 2021, 2022 and 2023. Service revenue The Company also generates revenue from its design and technical services under separate contracts. Revenues from the design and technical service to the customers are recognized at a point in time when services are provided. Revenue disaggregation In accordance with ASC 606, the Company disaggregates revenue from contracts with customers by revenue stream. The Company determined that disaggregating revenue into these categories meets the disclosure objective in ASC 606 which is to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by regional economic factors. The following table summarizes the net revenues generated from different revenue streams: For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB Product sales revenue 39,440,897 920,653,911 71,321,462 Service revenue — 62,514,987 7,013,914 Net revenues 39,440,897 983,168,898 78,335,376 Contract liabilities Contract liabilities are recorded when consideration is received from a customer prior to transferring the control of goods or services to the customer. As of December 31, 2022 and 2023, the Company recorded contract liabilities of RMB124,469,097 and RMB107,826,617, respectively, which were presented as advance from customers on the accompanying consolidated balance sheets. During the years ended December 31, 2021, 2022 and 2023, the Company recognized RMB4,241,270, RMB804,875,532 and RMB23,740,945 of contract liabilities as revenue, respectively. |
Cost of revenues | Cost of revenues Amounts recorded as cost of revenue relate to direct expenses incurred in order to generate revenue. Such costs are recorded as incurred. Cost of revenues consists of product costs and service costs. Product costs include costs of raw material, contract manufacturers for production, shipping and handling costs, and warehousing costs. Service costs include labor costs and material costs. During the years ended December 31, 2021, 2022 and 2023, the Company recorded inventory write -down |
Selling and marketing expenses | Selling and marketing expenses Selling and marketing expenses consist primarily of advertising and promotion, salaries, and shipping and handling costs incurred during the selling activities. Advertising and transportation expenses are charged to expense as incurred. Advertising and promotion costs in the amounts of RMB992,996, RMB10,901,200 and RMB1,278,586 for the years ended December 31, 2021, 2022 and 2023, respectively, are included in selling and marketing expenses. Shipping and handling costs amounting to RMB371,769, RMB4,233,084 and RMB2,122,358 for the years ended December 31, 2021, 2022 and 2023, respectively, are included in selling and marketing expenses. |
Research and development expenses | Research and development expenses Research and development expenses consist primarily of salary and welfare for research and development personnel, raw materials used, consulting and contractor expenses, testing and processing expenses and other expenses in associated with research and development activities. The Company recognizes research and development expenses as expense when incurred. |
Leases | Leases Right -of-use -of-use The Company elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Company recognizes lease expenses for such leases on a straight -line |
Employee social security and welfare benefits | Employee social security and welfare benefits Employees of the Company in the PRC are entitled to staff welfare benefits including pension, work -related -mandated -employer The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Company’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made. |
Share-based compensation | Share-based compensation Restricted shares and options granted to employees and directors are accounted for under ASC Topic 718, “Compensation — Stock compensation” (“ASC 718”). In accordance with ASC 718, the Company determines whether restricted shares or options should be classified and accounted for as an equity award. All grants of restricted shares and options to employees and directors classified as equity awards are recognized in the financial statements based on their grant date fair values. The value of the portion of the award that is ultimately expected to vest is recognized as compensation expense over the requisite service periods in the statements of operations. In addition, compensation expense must be recognized for the change in fair value of any awards modified, repurchased or cancelled after the grant date. The fair value of stock option granted is estimated on the grant date using the Binomial or Black -Scholes |
Income taxes | Income taxes The Company accounts for income taxes under the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax income rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded if it is more likely than not that some portion or all of the deferred income tax assets will not be realized in the foreseeable future. In accordance with the provisions of ASC 740, “Income taxes”, the Company recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is “more likely than not” to be sustained upon examination based solely on the technical merits of the position. Tax positions that meet the recognition threshold are measured using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. Interest and penalties arising from underpayment of income taxes are computed in accordance with the applicable tax law and is classified in the consolidated statements of operations as income tax expense. |
Noncontrolling interests | Noncontrolling interests For the Company’s consolidated subsidiaries, noncontrolling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. Noncontrolling interests are classified as a separate line item in the equity section of the Company’s consolidated balance sheets and have been separately disclosed in the Company’s consolidated statements of operations and comprehensive income (loss). |
Comprehensive income (loss) | Comprehensive income (loss) Comprehensive income/(loss) is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments from shareholders and distributions to shareholders. Comprehensive income (loss) for the periods presented includes net income (loss) and foreign currency translation adjustments. |
Earnings (loss) per share | Earnings (loss) per share The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is computed by dividing net income (loss) attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year. Diluted earnings (loss) per share is calculated by dividing net income (loss) attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year. Dilutive equivalent shares are excluded from the computation of diluted earnings (loss) per share if their effects would be anti -dilutive -based |
Segment Reporting | Segment Reporting The Company uses the “management approach” in determining reportable segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s chief operating decision maker has been identified as the chief executive officer of the Company who reviews financial information of operating segments based on U.S. GAAP. The chief operating decision maker now reviews results analyzed by marketing channel. This analysis is only presented at the revenue level with no allocation of direct or indirect costs. Consequently, the Company has determined that it has only one operating segment. For the years ended December 31, 2021, 2022 and 2023, substantially all of the Company’s long -lived For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB PRC 37,430,935 906,347,962 57,485,526 The United States 368,532 16,278,352 7,115,353 Others 1,641,430 60,542,584 13,734,497 Net revenues 39,440,897 983,168,898 78,335,376 |
Recently adopted or issued accounting pronouncements | Recently adopted or issued accounting pronouncements In June 2016, the FASB issued ASU 2016 -13 -19 -04 -05 -11 -02 -03 -13 -13 In October 2023, the FASB issued ASU 2023 -06 -X -K In November 2023, the FASB issued ASU 2023 -07 -07 In December 2023, the FASB issued ASU No. 2023 -09 -09 |
Organization and Nature of Op_2
Organization and Nature of Operations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Organization and Nature of Operations [Abstarct] | |
Schedule of Major Subsidiaries | The Company does not conduct any substantive operations on its own but instead conducts its business operations through its subsidiaries. As of the date of this report, the Company’s major subsidiaries are as follows: Name of subsidiaries Date of Place of Ownership Principal Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”) July 16, 2019 Hangzhou, China 100% Research and development of ICs Zhejiang Nanomicro Technology Co., Ltd. (“Zhejiang Nanomicro”) July 16, 2019 Hangzhou, China 100% Research and development of ICs Zhejiang NanoBlock Technology Co., Ltd. July 16, 2019 Hangzhou, China 100% Research and development of ICs Zhejiang Ipollo Technology Co., Ltd. August 18, 2020 Hangzhou, China 100% Distribution of products Nano Labs HK Limited September 8, 2020 Hong Kong 100% Investment Nano Labs Inc December 22, 2020 BVI 100% Investment Zhejiang Weike Technology Co., Ltd. June 2, 2021 Hangzhou, China 100% Research and development of software IPOLLO PTE. LTD. (formerly IPOLLO MINER PTE.LTD.) June 9, 2021 Singapore 100% Distribution of products Ipollo Tech Inc June 29, 2021 BVI 100% Investment Nano Tech Cayman Ltd July 6, 2021 Cayman 100% Investment Nano Technology HK Limited July 7, 2021 Hong Kong 100% Investment Ipollo HK Limited July 7, 2021 Hong Kong 100% Distribution of products Zhejiang Metaverse Technology Co., Ltd. August 12, 2021 Hangzhou, China 100% Investment Ipollo Tech Ltd October 27, 2021 Cayman 100% Investment Haowei Technology (Shaoxing) Co., Ltd. November 3, 2021 Shaoxing, China 100% Investment Shenzhen Matamata Technology Co., Ltd. November 17, 2021 Shenzhen, China 100% Distribution of products Shenzhen Matavos Technology Co., Ltd. December 21, 2021 Shenzhen, China 100% Distribution of products Tsuki Inc January 7, 2022 United States 100% Distribution of products Name of subsidiaries Date of Place of Ownership Principal Metaski (Shaoxing) Technology Co., Ltd. January 13, 2022 Shaoxing, China 100% Distribution of products Haoweiverse (Shaoxing) Technology Co., Ltd. January 13, 2022 Shaoxing, China 65% Plant and distribution of products Metameta (Shaoxing) Technology Co., Ltd. January 25, 2022 Shaoxing, China 100% Distribution of products Ipolloverse HK Limited May 18, 2022 Hong Kong 70% Research and development Metaverse (Shaoxing) Technology Co., Ltd. May 20, 2022 Shaoxing, China 100% Distribution of products Ipolloverse Cayman Ltd May 27, 2022 Cayman 70% Investment Ipolloverse Tech Inc May 30, 2022 BVI 70% Investment Hangzhou Meta Technology Co., Ltd. October 21, 2022 Hangzhou, China 100% Distribution of products |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Estimated Useful Lives of Property and Equipment | Depreciation is calculated using the straight -line Computers and electronic equipment 2 to 3 years Office furniture 5 years Transportation equipment 4 years |
Schedule of Estimated Useful Lives of Intangible Assets | The Company amortizes its franchise right and land use right on a straight -line Franchise right 2 years Land use right 50 years |
Schedule of Net Revenues | The following table summarizes the net revenues generated from different revenue streams: For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB Product sales revenue 39,440,897 920,653,911 71,321,462 Service revenue — 62,514,987 7,013,914 Net revenues 39,440,897 983,168,898 78,335,376 |
Schedule of Revenues by Geographical Location of Customers | The Company’s net revenues by geographical location of customers are as follows: For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB PRC 37,430,935 906,347,962 57,485,526 The United States 368,532 16,278,352 7,115,353 Others 1,641,430 60,542,584 13,734,497 Net revenues 39,440,897 983,168,898 78,335,376 |
Inventories, Net (Tables)
Inventories, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Inventories, Net [Abstract] | |
Schedule of Inventories, Net | Inventories, net consist of the following: As of 2022 2023 RMB RMB Raw materials 69,914,306 56,952,428 Work in process 158,693,203 130,609,171 Finished goods 81,807,783 90,377,688 Less: write-down of inventories (208,213,546 ) (265,064,301 ) Inventories, net 102,201,746 12,874,986 |
Prepayments (Tables)
Prepayments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Prepayments [Abstract] | |
Schedule of Prepayments | Prepayments consist of the following: As of 2022 2023 RMB RMB Prepayments – inventories and processing fee 64,813,532 14,645,763 Prepayments – design fees 3,850,329 7,162,700 Prepayments – others 2,650,393 2,577,547 Total 71,314,254 24,386,010 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Current Assets [Abstract] | |
Schedule of Other Current Assets | Other current assets consist of the following: As of 2022 2023 RMB RMB Value-added tax recoverable 23,731,587 34,041,675 Deposits 3,434,080 2,361,968 Others 109,548 1,504,449 Total 27,275,215 37,908,092 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment, Net [Abstract] | |
Schedule of Property, Plant and Equipment, Net | Property, plant and equipment, net consist of the following: As of 2022 2023 RMB RMB Cost: Computers and electronic equipment 9,537,316 12,098,631 Office furniture 266,252 266,252 Leasehold improvement 1,550,648 1,550,648 Transportation equipment 41,014 41,014 Construction in progress 16,119,419 165,221,605 Less: Accumulated depreciation (6,087,694 ) (9,524,568 ) Property, plant and equipment, net 21,426,955 169,653,582 |
Intangible Asset, Net (Tables)
Intangible Asset, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Intangible Assets, Net [Abstract] | |
Schedule of Intangible Asset, Net | Intangible asset, net consists of the following: As of 2022 2023 RMB RMB Cost: Land use right 49,292,208 49,292,208 Franchise right 334,865 334,865 Less: Accumulated amortization (909,941 ) (1,895,785 ) Intangible asset, net 48,717,132 47,731,288 |
Schedule of Future Estimated Amortization Expenses | As of December 31, 2023, the future estimated amortization expenses are as below. Years ended December 31, Estimated amortization expense RMB 2024 985,844 2025 985,844 2026 985,844 2027 985,844 2028 985,844 Thereafter 42,802,068 Total 47,731,288 |
Operating Leases (Tables)
Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Operating Leases [Abstract] | |
Schedule of Consolidated Statements of Operations and Comprehensive Income (Loss) | The following component of lease cost are included in the Company’s consolidated statements of operations and comprehensive income (loss): For the year ended December 31, 2021 For the year ended December 31, 2022 For the year ended December 31, 2023 RMB RMB RMB Operating lease cost 3,277,780 11,385,312 6,051,298 Short-term lease cost 1,867,850 295,564 198,306 Total lease cost 5,145,630 11,680,876 6,249,604 |
Schedule of Supplemental Disclosure Related To Operating Leases | Supplemental disclosure related to operating leases were as follows: For the year ended December 31, 2021 For the year ended December 31, 2022 For the year ended December 31, 2023 RMB RMB RMB Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases 5,068,864 5,822,406 4,648,690 As of As of Weighted average remaining lease term of operating leases (years) 1.65 3.53 Weighted average discount rate of operating leases 6.24 % 6.24 % |
Schedule of Operating Lease Liabilities | The following table summarizes the maturity of operating lease liabilities as of December 31, 2023: As of December 31, 2023 RMB 2024 3,605,781 2025 1,194,360 2026 1,194,360 2027 1,197,632 2028 602,088 Total lease payments 7,794,221 Less: imputed interest (583,797 ) Total lease liabilities 7,210,424 |
Other Current Liabilities (Tabl
Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Current Liabilities [Abstract] | |
Schedule of Other Current Liabilities | Other current liabilities consist of the following: As of December 31, 2022 As of December 31, 2023 RMB RMB Salary accrual 8,536,985 7,013,473 Deposit 10,000,000 10,000,000 Accrued construction in progress — 46,180,063 Tax accrual 13,609,170 13,604,797 Others 7,253,377 14,179,838 Total 39,399,532 90,978,171 |
Short-Term and Long-Term Debts
Short-Term and Long-Term Debts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Short-Term and Long-Term Debts [Abstract] | |
Schedule of Future Maturities of Long-Term Debts | As of December 31, 2023, the future maturities of long -term As of December 31, RMB 2024 3,410,000 2025 4,630,000 2026 5,850,000 2027 7,070,000 2028 8,290,000 Thereafter 94,420,783 Total 123,670,783 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Compensation [Abstract] | |
Schedule of RSUs Activity | The following table summarized the RSUs activity and related information for the year ended December 31, 2022 and 2023: Number of Weighted Average Unvested, January 1, 2022 3,090,710 0.02 Granted — — Forfeited 81,131 0.02 Vested 1,003,192 0.02 Unvested, December 31, 2022 2,006,387 0.02 Granted — — Forfeited 216,350 0.02 Vested 895,019 0.02 Unvested, December 31, 2023 895,018 0.02 |
Schedule of Valuation Assumptions | The option granted on January 1, 2022 was valued using the binomial model with the assistance of an independent valuation firm using the management’s estimates and assumptions. Significant assumptions used in the valuation are set as below: January 1, Spot price on valuation date US$ Expected volatility 137.01 % Risk-free interest rate 1.51 % Dividend yield 0.00 % Forfeiture rate 0.00 % For the year ended Spot price on valuation date US$ Expected volatility 120.95% – 123.34% Risk-free interest rate 3.53% – 4.28% Dividend yield 0.00% |
Schedule of Share Option Activity | The following table summarizes the share options activity and related information for the years ended December 31, 2022 and 2023: Number of Options Weighted Average Exercise Weighted Average Remaining Term Weighted Average Aggregated Outstanding as of January 1, 2022 — — — — — Granted 250,000 0.003 10.0 60.94 Forfeited — — — — Exercised — — — — Outstanding as of December 31, 2022 250,000 0.003 9.0 60.94 2,001,626 Vested and exercisable as of December 31, 2022 83,333 0.003 9.0 60.94 667,209 Granted 861,860 0.001 9.3 7.34 Forfeited 211,584 0.003 — 49.57 Exercised 587,890 0.002 — 14.94 Outstanding as of December 31, 2023 312,386 0.001 9.3 7.34 4,004,469 Vested and exercisable as of December 31, 2023 71,517 0.001 9.3 7.34 916,775 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Earnings (Loss) Per Share [Abstract] | |
Schedule of Basic and Diluted Earnings (Loss) Per Ordinary Share Computations | The following reflects the income and share data used in the basic and diluted earnings (loss) per ordinary share computations: For the years ended December 31, 2021 2022 2023 RMB RMB RMB Earnings (loss) attributable to ordinary shareholders of the Company (174,944,484 ) 31,118,886 (252,823,772 ) Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation 44,938,990 53,244,500 58,885,071 Basic earnings (loss) per share (3.89 ) 0.58 (4.29 ) Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation (174,944,484 ) 31,118,886 (252,823,772 ) Weighted average number of ordinary shares outstanding diluted earnings (loss) per share calculation 44,938,990 53,244,500 58,885,071 Adjusted for: – incremental shares issuable related to options issued — 63,105 — Weighted average number of shares outstanding for diluted earnings (loss) per share calculation 44,938,990 53,307,605 58,885,071 Diluted earnings (loss) per share (3.89 ) 0.58 (4.29 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Taxes [Abstract] | |
Schedule of Effective Income Tax Rate and PRC Statutory Income Tax Rate | A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows: For the Years Ended December 31, 2021 2022 2023 PRC statutory income tax rates 25.00 % 25.00 % 25.00 % Effect of expenses not deductible for tax purposes (0.22 )% 0.91 % (0.42 )% Effect of additional deduction of research and development expense 15.18 % (64.43 )% 5.98 % Effect of income tax exemptions and reliefs (13.14 )% (56.77 )% (5.71 )% Recovery from deferred income tax assets 0.00 % (97.39 )% 0.05 % Effect of valuation allowance on deferred income tax assets (26.35 )% 171.26 % (23.52 )% Income tax difference under different tax jurisdictions (0.47 )% 21.42 % (1.37 )% Total 0.00 % 0.00 % 0.01 % |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following: For the Years Ended December 31, 2021 2022 2023 RMB RMB RMB Current income tax expense (benefit) — — (17,394 ) Deferred tax expense — — — Income tax expense — — (17,394 ) |
Schedule of Deferred Tax Assets | Significant component of deferred tax assets are as follows: As of 2022 2023 Net operating loss carryforward 63,038,127 77,373,944 Accrued expense and others (29,335,373 ) (282,843 ) Inventory impairment 47,198,866 51,027,391 Deferred tax assets 80,901,620 128,118,492 Less: valuation allowance (80,901,620 ) (128,118,492 ) Deferred tax assets — — |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party | Related parties with whom the Company conducted business consist of the following: Name of related party Nature of Relationship Jianping Kong Principal shareholder, chairman and chief executive officer Qifeng Sun Principal shareholder and vice chairman Hangzhou Weiditu Technology Co., Ltd. Company controlled by Jianping Kong |
Concentrations (Tables)
Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Concentrations [Abstract] | |
Schedule of Company's Revenue | The following table sets forth information as to each customer that accounted for 10% or more of the Company’s revenues for the years ended December 31, 2021, 2022 and 2023: For the Years Ended December 31, 2021 2022 2023 Customer A 59 % — — Customer B 15 % — — Customer C — — 15 % Customer D — 12 % |
Schedule of Company's Purchase | The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchase for the years ended December 31, 2021, 2022 and 2023: For the Years Ended December 31, 2021 2022 2023 Supplier A — — 38 % Supplier B 50 % 32 % — Supplier C 34 % — — Supplier D — — 14 % Supplier E 13 % 23 % — |
Parent-Only Financial Stateme_2
Parent-Only Financial Statements (Tables) - Parent [Member] | 12 Months Ended |
Dec. 31, 2023 | |
Parent-Only Financial Statements (Tables) [Line Items] | |
Schedule of Condensed Balance Sheets | As of December 31, 2022 2023 RMB RMB US$ ASSETS/(LIABILITIES) Cash and cash equivalents 25,769 1,205,993 170,273 Prepayments — 13,776 1,945 Due from intercompany 380,321,338 456,041,568 64,388,096 Investment in subsidiaries (215,932,707 ) (471,994,335 ) (66,640,453 ) TOTAL ASSETS (LIABILITIES) 164,414,400 (14,732,998 ) (2,080,139 ) SHAREHOLDERS’ EQUITY (DEFICIT) Shareholders’ equity (deficit): Class A ordinary shares ($0.0002 par value; 121,410,923 shares authorized; 27,159,258 and 41,927,302 shares issued as of December 31, 2022 and 2023, respectively; 27,159,258 and 37,242,359 shares outstanding as of December 31, 2022 and 2023, respectively)* 35,425 50,106 7,074 Class B ordinary shares ($0.0002 par value; 28,589,078 shares authorized; 28,589,078 shares issued and outstanding as of December 31, 2022 and 2023)* 36,894 36,894 5,209 Additional paid-in capital 354,803,564 428,310,028 60,472,705 Accumulated deficit (199,207,921 ) (452,031,693 ) (63,821,945 ) Statutory reserves 6,647,109 6,647,109 938,499 Accumulated other comprehensive income 2,099,329 2,254,558 318,319 TOTAL NANO LABS LTD SHAREHOLDERS’ EQUITY (DEFICIT) 164,414,400 (14,732,998 ) (2,080,139 ) * |
Schedule of Condensed Statements of Operations and Comprehensive Income (Loss) | For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Net revenues — — — — Operating expenses: Selling and marketing expenses 980 — — — General and administrative expenses 306,775 5,822,906 471,664 66,594 Total operating expenses 307,755 5,822,906 471,664 66,594 Loss from operations (307,755 ) (5,822,906 ) (471,664 ) (66,594 ) Finance income — 66,144 110,971 15,668 Investment income — 53,809 — — Income (loss) from investment in subsidiaries (174,636,729 ) 36,821,839 (252,463,079 ) (35,645,033 ) Net income (loss) attributable to Nano Labs Ltd (174,944,484 ) 31,118,886 (252,823,772 ) (35,695,959 ) Comprehensive income (loss): Net income (loss) (174,944,484 ) 31,118,886 (252,823,772 ) (35,695,959 ) Other comprehensive income (loss) Foreign currency translation adjustment (2,467,327 ) 4,566,656 155,229 21,917 Total comprehensive income (loss) attributable to Nano Labs Ltd (177,411,811 ) 35,685,542 (252,668,543 ) (35,674,042 ) |
Schedule of Condensed Statements of Cash Flows | For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Net cash provided by (used in) operating activities (535,017 ) 3,911,561 344,012 48,571 Net cash used in investing activities (201,554,446 ) (155,900,936 ) (68,918,960 ) (9,730,605 ) Net cash provided by financing activities 201,251,124 144,043,186 72,802,734 10,278,952 Effect of exchange rate changes on cash and cash equivalents 926,910 7,883,387 (3,047,562 ) (430,284 ) Net increase (decrease) in cash and cash equivalents 88,571 (62,802 ) 1,180,224 166,634 Cash and cash equivalents at beginning of the year — 88,571 25,769 3,639 Cash and cash equivalents at end of the year 88,571 25,769 1,205,993 170,273 |
Organization and Nature of Op_3
Organization and Nature of Operations (Details) | 12 Months Ended | |||||
Jan. 31, 2024 | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | |
Organization and Nature of Operations (Details) [Line Items] | ||||||
Net loss | ¥ (254,352,054) | $ (35,911,736) | ¥ 31,118,886 | ¥ (174,944,484) | ||
Net cash used in operating activities | (133,473,937) | $ (18,845,065) | (274,940,789) | ¥ 71,732,868 | ||
Working capital deficit | 117,000,000 | |||||
Accumulated deficit | ¥ (452,031,693) | ¥ (199,207,921) | $ (63,821,945) | |||
Financial statements term | 1 year | 1 year | ||||
Nano Labs Ltd [Member] | ||||||
Organization and Nature of Operations (Details) [Line Items] | ||||||
Net loss | ¥ (254,000,000) | |||||
Net cash used in operating activities | (133,000,000) | |||||
Accumulated deficit | ¥ (452,000,000) | |||||
Subsequent Event [Member] | Minimum [Member] | ||||||
Organization and Nature of Operations (Details) [Line Items] | ||||||
Reverse stock split | $0.0001 | |||||
Subsequent Event [Member] | Maximum [Member] | ||||||
Organization and Nature of Operations (Details) [Line Items] | ||||||
Reverse stock split | $0.0002 |
Organization and Nature of Op_4
Organization and Nature of Operations (Details) - Schedule of Major Subsidiaries | 12 Months Ended |
Dec. 31, 2023 | |
Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”) [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jul. 16, 2019 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Research and development of ICs |
Zhejiang Nanomicro Technology Co., Ltd. (“Zhejiang Nanomicro”) [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jul. 16, 2019 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Research and development of ICs |
Zhejiang NanoBlock Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jul. 16, 2019 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Research and development of ICs |
Zhejiang Ipollo Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Aug. 18, 2020 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Nano Labs HK Limited [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Sep. 08, 2020 |
Place of incorporation | Hong Kong |
Ownership percentage | 100% |
Principal activities | Investment |
Nano Labs Inc [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Dec. 22, 2020 |
Place of incorporation | BVI |
Ownership percentage | 100% |
Principal activities | Investment |
Zhejiang Weike Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jun. 02, 2021 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Research and development of software |
IPOLLO PTE. LTD. (formerly IPOLLO MINER PTE.LTD.) [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jun. 09, 2021 |
Place of incorporation | Singapore |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Ipollo Tech Inc [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jun. 29, 2021 |
Place of incorporation | BVI |
Ownership percentage | 100% |
Principal activities | Investment |
Nano Tech Cayman Ltd [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jul. 06, 2021 |
Place of incorporation | Cayman |
Ownership percentage | 100% |
Principal activities | Investment |
Nano Technology HK Limited [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jul. 07, 2021 |
Place of incorporation | Hong Kong |
Ownership percentage | 100% |
Principal activities | Investment |
Ipollo HK Limited [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jul. 07, 2021 |
Place of incorporation | Hong Kong |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Zhejiang Metaverse Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Aug. 12, 2021 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Investment |
Ipollo Tech Ltd [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Oct. 27, 2021 |
Place of incorporation | Cayman |
Ownership percentage | 100% |
Principal activities | Investment |
Haowei Technology (Shaoxing) Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Nov. 03, 2021 |
Place of incorporation | Shaoxing, China |
Ownership percentage | 100% |
Principal activities | Investment |
Shenzhen Matamata Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Nov. 17, 2021 |
Place of incorporation | Shenzhen, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Shenzhen Matavos Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Dec. 21, 2021 |
Place of incorporation | Shenzhen, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Tsuki Inc [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jan. 07, 2022 |
Place of incorporation | United States |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Metaski (Shaoxing) Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jan. 13, 2022 |
Place of incorporation | Shaoxing, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Haoweiverse (Shaoxing) Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jan. 13, 2022 |
Place of incorporation | Shaoxing, China |
Ownership percentage | 65% |
Principal activities | Plant and distribution of products |
Metameta (Shaoxing) Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Jan. 25, 2022 |
Place of incorporation | Shaoxing, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Ipolloverse HK Limited [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | May 18, 2022 |
Place of incorporation | Hong Kong |
Ownership percentage | 70% |
Principal activities | Research and development |
Metaverse (Shaoxing) Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | May 20, 2022 |
Place of incorporation | Shaoxing, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Ipolloverse Cayman Ltd [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | May 27, 2022 |
Place of incorporation | Cayman |
Ownership percentage | 70% |
Principal activities | Investment |
‣ Ipolloverse Tech Inc [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | May 30, 2022 |
Place of incorporation | BVI |
Ownership percentage | 70% |
Principal activities | Investment |
Hangzhou Meta Technology Co., Ltd. [Member] | |
Schedule of Major Subsidiaries [Line Items] | |
Date of incorporation | Oct. 21, 2022 |
Place of incorporation | Hangzhou, China |
Ownership percentage | 100% |
Principal activities | Distribution of products |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) | 12 Months Ended | |||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | |
Summary of Significant Accounting Policies [Line Items] | ||||||
cash | ¥ 48,164,664 | ¥ 87,811,272 | ||||
Restricted cash | 417,990 | 48,112 | ||||
Impairment of long-lived assets (in Dollars) | $ | ||||||
Contract liabilities | 107,826,617 | 124,469,097 | ||||
Contract liabilities as revenue | 23,740,945 | 804,875,532 | ¥ 4,241,270 | |||
Inventory write-down | 60,767,978 | $ 8,579,776 | 184,073,191 | 26,753,768 | ||
Advertising and promotion cost | 1,278,586 | 10,901,200 | 992,996 | |||
Shipping and handling costs | 2,122,358 | 4,233,084 | 371,769 | |||
Cost of Revenue [Member] | ||||||
Summary of Significant Accounting Policies [Line Items] | ||||||
Inventory write-down | ¥ 60,767,978 | ¥ 184,073,191 | ¥ 26,753,768 | |||
United States of America, Dollars | ||||||
Summary of Significant Accounting Policies [Line Items] | ||||||
Foreign currency exchange rate translation | 1 | |||||
China, Yuan Renminbi | ||||||
Summary of Significant Accounting Policies [Line Items] | ||||||
Foreign currency exchange rate translation | 7.0827 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives of Property and Equipment | Dec. 31, 2023 |
Computers and Electronic Equipment [Member] | Minimum [Member] | |
Schedule of Estimated Useful Lives of Property and Equipment [Line Items] | |
Property and Equipment Estimated Useful Lives | 2 years |
Computers and Electronic Equipment [Member] | Maximum [Member] | |
Schedule of Estimated Useful Lives of Property and Equipment [Line Items] | |
Property and Equipment Estimated Useful Lives | 3 years |
Office Furniture [Member] | |
Schedule of Estimated Useful Lives of Property and Equipment [Line Items] | |
Property and Equipment Estimated Useful Lives | 5 years |
Transportation Equipment [Member] | |
Schedule of Estimated Useful Lives of Property and Equipment [Line Items] | |
Property and Equipment Estimated Useful Lives | 4 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives of Intangible Assets | Dec. 31, 2023 |
Franchise Rights [Member] | |
Schedule of Estimated Useful Lives of Intangible Assets [Line Items] | |
Finite Lived Intangible Asset Useful Life | 2 years |
Land Use Right [Member] | |
Schedule of Estimated Useful Lives of Intangible Assets [Line Items] | |
Finite Lived Intangible Asset Useful Life | 50 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of Net Revenues | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Schedule of Estimated Useful Lives of Intangible Assets [Line Items] | ||||
Net revenues | ¥ 78,335,376 | $ 11,060,101 | ¥ 983,168,898 | ¥ 39,440,897 |
Product sales revenue [Member] | ||||
Schedule of Estimated Useful Lives of Intangible Assets [Line Items] | ||||
Net revenues | 71,321,462 | 920,653,911 | 39,440,897 | |
Service revenue [Member] | ||||
Schedule of Estimated Useful Lives of Intangible Assets [Line Items] | ||||
Net revenues | ¥ 7,013,914 | ¥ 62,514,987 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details) - Schedule of Revenues by Geographical Location of Customers | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Summary of Significant Accounting Policies (Details) - Schedule of Revenues by Geographical Location of Customers [Line Items] | ||||
Net revenues | ¥ 78,335,376 | $ 11,060,101 | ¥ 983,168,898 | ¥ 39,440,897 |
Oversea [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Revenues by Geographical Location of Customers [Line Items] | ||||
Net revenues | 57,485,526 | 906,347,962 | 37,430,935 | |
The United States [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Revenues by Geographical Location of Customers [Line Items] | ||||
Net revenues | 7,115,353 | 16,278,352 | 368,532 | |
Others [Member] | ||||
Summary of Significant Accounting Policies (Details) - Schedule of Revenues by Geographical Location of Customers [Line Items] | ||||
Net revenues | ¥ 13,734,497 | ¥ 60,542,584 | ¥ 1,641,430 |
Inventories, Net (Details) - Sc
Inventories, Net (Details) - Schedule of Inventories, Net | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Inventories, Net [Abstract] | |||
Raw materials | ¥ 56,952,428 | ¥ 69,914,306 | |
Work in process | 130,609,171 | 158,693,203 | |
Finished goods | 90,377,688 | 81,807,783 | |
Less: write-down of inventories | (265,064,301) | (208,213,546) | |
Inventories, net | ¥ 12,874,986 | $ 1,817,808 | ¥ 102,201,746 |
Prepayments (Details) - Schedul
Prepayments (Details) - Schedule of Prepayments | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Prepayments [Abstract] | |||
Prepayments – inventories and processing fee | ¥ 14,645,763 | ¥ 64,813,532 | |
Prepayments – design fees | 7,162,700 | 3,850,329 | |
Prepayments – others | 2,577,547 | 2,650,393 | |
Total | ¥ 24,386,010 | $ 3,443,039 | ¥ 71,314,254 |
Other Current Assets (Details)
Other Current Assets (Details) - Schedule of Other Current Assets | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Other Current Assets [Abstract] | |||
Value-added tax recoverable | ¥ 34,041,675 | ¥ 23,731,587 | |
Deposits | 2,361,968 | 3,434,080 | |
Others | 1,504,449 | 109,548 | |
Total | ¥ 37,908,092 | $ 5,352,209 | ¥ 27,275,215 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment, Net [Abstract] | |||
Depreciation expenses | ¥ 3,436,716 | ¥ 3,353,055 | ¥ 2,510,398 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net (Details) - Schedule of Property, Plant and Equipment, Net | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Property, Plant and Equipment, Net [Abstract] | |||
Computers and electronic equipment | ¥ 12,098,631 | ¥ 9,537,316 | |
Office furniture | 266,252 | 266,252 | |
Leasehold improvement | 1,550,648 | 1,550,648 | |
Transportation equipment | 41,014 | 41,014 | |
Construction in progress | 165,221,605 | 16,119,419 | |
Less: Accumulated depreciation | (9,524,568) | (6,087,694) | |
Property, plant and equipment, net | ¥ 169,653,582 | $ 23,953,236 | ¥ 21,426,955 |
Intangible Asset, Net (Details)
Intangible Asset, Net (Details) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | |
Intangible Assets, Net [Abstract] | ||||
Amortization of intangible assets | ¥ 985,844 | ¥ 575,076 | ¥ 99,301 | |
Finite-lived intangible assets | ¥ 47,731,288 | ¥ 48,717,132 | $ 6,739,137 |
Intangible Asset, Net (Detail_2
Intangible Asset, Net (Details) - Schedule of Intangible Asset, Net | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Intangible Asset, Net [Abstract] | |||
Land use right | ¥ 49,292,208 | ¥ 49,292,208 | |
Franchise right | 334,865 | 334,865 | |
Less: Accumulated amortization | (1,895,785) | (909,941) | |
Intangible asset, net | ¥ 47,731,288 | $ 6,739,137 | ¥ 48,717,132 |
Intangible Asset, Net (Detail_3
Intangible Asset, Net (Details) - Schedule of Future Estimated Amortization Expenses | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Future Estimated Amortization Expenses [Abstract] | |||
2024 | ¥ 985,844 | ||
2025 | 985,844 | ||
2026 | 985,844 | ||
2027 | 985,844 | ||
2028 | 985,844 | ||
Thereafter | 42,802,068 | ||
Total | ¥ 47,731,288 | $ 6,739,137 | ¥ 48,717,132 |
Operating Leases (Details) - Sc
Operating Leases (Details) - Schedule of Consolidated Statements of Operations and Comprehensive Income (Loss) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Consolidated Statements of Operations and Comprehensive Income (Loss) [Abstract] | |||
Operating lease cost | ¥ 6,051,298 | ¥ 11,385,312 | ¥ 3,277,780 |
Short-term lease cost | 198,306 | 295,564 | 1,867,850 |
Total lease cost | ¥ 6,249,604 | ¥ 11,680,876 | ¥ 5,145,630 |
Operating Leases (Details) - _2
Operating Leases (Details) - Schedule of Supplemental Disclosure Related To Operating Leases - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Cash paid for amounts included in the measurement of lease liabilities | |||
Operating cash flows for operating leases | ¥ 4,648,690 | ¥ 5,822,406 | ¥ 5,068,864 |
Weighted average remaining lease term of operating leases (years) | 3 years 6 months 10 days | 1 year 7 months 24 days | |
Weighted average discount rate of operating leases | 6.24% | 6.24% |
Operating Leases (Details) - _3
Operating Leases (Details) - Schedule of Operating Lease Liabilities | Dec. 31, 2023 CNY (¥) |
Schedule of Operating Lease Liabilities [Abstract] | |
2024 | ¥ 3,605,781 |
2025 | 1,194,360 |
2026 | 1,194,360 |
2027 | 1,197,632 |
2028 | 602,088 |
Total lease payments | 7,794,221 |
Less: imputed interest | (583,797) |
Total lease liabilities | ¥ 7,210,424 |
Other Current Liabilities (Deta
Other Current Liabilities (Details) - Schedule of Other Current Liabilities | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Other Current Liabilities [Abstract] | |||
Salary accrual | ¥ 7,013,473 | ¥ 8,536,985 | |
Deposit | 10,000,000 | 10,000,000 | |
Accrued construction in progress | 46,180,063 | ||
Tax accrual | 13,604,797 | 13,609,170 | |
Others | 14,179,838 | 7,253,377 | |
Total | ¥ 90,978,171 | $ 12,845,126 | ¥ 39,399,532 |
Short-Term and Long-Term Debt_2
Short-Term and Long-Term Debts (Details) | 12 Months Ended | ||||||
Aug. 11, 2022 CNY (¥) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Sep. 21, 2023 CNY (¥) | Jun. 30, 2023 CNY (¥) | |
Short-Term and Long-Term Debts [Line Items] | |||||||
Rural commercial bank for a credit line | ¥ 20,000,000 | ¥ 148,000,000 | |||||
Amount borrowed | ¥ 128,247,467 | $ 18,107,144 | ¥ 17,093,316 | ||||
Repayments of credit facilities | ¥ 1,530,000 | $ 216,019 | 140,000 | ||||
Minimum [Member] | |||||||
Short-Term and Long-Term Debts [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 3.70% | 3.70% | |||||
Maximum [Member] | |||||||
Short-Term and Long-Term Debts [Line Items] | |||||||
Debt instrument, interest rate, stated percentage | 4% | 4% | |||||
Zhejiang Shaoxing Ruifeng Rural Commercial Bank [Member] | |||||||
Short-Term and Long-Term Debts [Line Items] | |||||||
Rural commercial bank for a credit line | ¥ 100,000,000 | ||||||
Debt instrument, interest rate, stated percentage | 5.40% | 5.40% | |||||
Amount borrowed | ¥ 108,247,467 | 17,093,316 | |||||
Repayments of credit facilities | 1,530,000 | ¥ 140,000 | |||||
Expiration period of credit agreement | Jul. 25, 2030 | ||||||
Mr. Qifeng [Member] | |||||||
Short-Term and Long-Term Debts [Line Items] | |||||||
Amount borrowed | 20,000,000 | ||||||
Repayments of credit facilities |
Short-Term and Long-Term Debt_3
Short-Term and Long-Term Debts (Details) - Schedule of Future Maturities of Long-Term Debts | Dec. 31, 2023 CNY (¥) |
Schedule of Future Maturities of Long Term Debts [Abstract] | |
2024 | ¥ 3,410,000 |
2025 | 4,630,000 |
2026 | 5,850,000 |
2027 | 7,070,000 |
2028 | 8,290,000 |
Thereafter | 94,420,783 |
Total | ¥ 123,670,783 |
Shareholders_ Equity (Deficit)
Shareholders’ Equity (Deficit) (Details) | 1 Months Ended | 2 Months Ended | 12 Months Ended | ||||||||||||||||
Nov. 13, 2023 USD ($) shares | Jul. 28, 2023 CNY (¥) | Jul. 28, 2023 USD ($) | Sep. 30, 2022 CNY (¥) shares | Sep. 30, 2022 USD ($) $ / shares shares | Jul. 14, 2022 CNY (¥) shares | Jul. 14, 2022 USD ($) $ / shares shares | Aug. 31, 2021 CNY (¥) shares | Aug. 31, 2021 USD ($) shares | May 31, 2021 CNY (¥) shares | May 31, 2021 USD ($) shares | Dec. 31, 2023 CNY (¥) shares | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Sep. 05, 2023 shares | Dec. 31, 2022 $ / shares shares | Jul. 12, 2022 $ / shares shares | Jan. 08, 2021 $ / shares shares | |
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0002 | ||||||||||||||||||
Cash proceeds | $ 5,189,500 | ¥ 122,300,000 | $ 18,950,000 | ¥ 81,000,000 | $ 12,600,000 | ¥ 72,802,734 | $ 10,278,952 | ¥ 144,043,186 | ¥ 201,199,989 | ||||||||||
Ordinary shares issued by ESOP | 1,895,000 | 1,895,000 | |||||||||||||||||
Provided interest-free loans | ¥ 72,802,000 | $ 10,000,000 | |||||||||||||||||
Employee exercise price | 504,557 | 504,557 | |||||||||||||||||
Employee exercise price per shares (in Dollars per share) | $ / shares | $ 0.0002 | ||||||||||||||||||
IPO [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0002 | ||||||||||||||||||
Supplemental Offering [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Proceeds from sale of stock | ¥ 32,103,786 | $ 4,500,000 | |||||||||||||||||
American Depositary Shares [Member] | IPO [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
New issuance of shares | 1,770,000 | 1,770,000 | |||||||||||||||||
Shares issued, price per share (in Dollars per share) | $ / shares | $ 11.5 | ||||||||||||||||||
American Depositary Shares [Member] | Supplemental Offering [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
New issuance of shares | 2,083,334 | 2,083,334 | |||||||||||||||||
Class B Ordinary Shares [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0002 | $ 0.0002 | |||||||||||||||||
Ordinary shares issued | 28,589,078 | 28,589,078 | |||||||||||||||||
Ordinary shares outstanding | 28,589,078 | 28,589,078 | |||||||||||||||||
Vote per share | 15 | 15 | |||||||||||||||||
Class B Ordinary Shares [Member] | IPO [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares outstanding | 28,589,078 | ||||||||||||||||||
Class A Ordinary Shares [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0002 | $ 0.0002 | |||||||||||||||||
Ordinary shares issued | 41,927,302 | 27,159,258 | |||||||||||||||||
Ordinary shares issued by ESOP | 4,684,943 | ||||||||||||||||||
Ordinary shares outstanding | 37,242,359 | 27,159,258 | |||||||||||||||||
Vote per share | one | one | |||||||||||||||||
Class A Ordinary Shares [Member] | IPO [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares outstanding | 23,305,924 | ||||||||||||||||||
Class A Ordinary Shares [Member] | American Depositary Shares [Member] | IPO [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Proceeds from issuance initial public offering (in Dollars) | $ | $ 20,400,000 | ||||||||||||||||||
Net proceeds | ¥ 111,939,400 | $ 16,600,000 | |||||||||||||||||
Class A Ordinary Shares [Member] | American Depositary Shares [Member] | Supplemental Offering [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Cash proceeds | $ | $ 5,000,000 | ||||||||||||||||||
Shares issued, price per share (in Dollars per share) | $ / shares | $ 2.4 | ||||||||||||||||||
Equity [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares issued by ESOP | 70,516,380 | 55,748,336 | |||||||||||||||||
Ordinary shares outstanding | 65,831,437 | 55,748,336 | |||||||||||||||||
Nano Labs Ltd [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares authorized | 250,000,000 | ||||||||||||||||||
Zhejiang Haowei [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares issued | 5,189,500 | 10,375,500 | 10,375,500 | ||||||||||||||||
Qifeng Sun [Member] | Class A Ordinary Shares [Member] | |||||||||||||||||||
Shareholders’ Equity (Deficit) [Line Items] | |||||||||||||||||||
Ordinary shares issued | 9,578,544 |
Share-Based Compensation (Detai
Share-Based Compensation (Details) | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
Apr. 27, 2026 | Aug. 16, 2025 | Jul. 12, 2025 | Apr. 27, 2025 | Aug. 16, 2024 | Jul. 12, 2024 | Apr. 27, 2024 | Aug. 16, 2023 $ / shares shares | Jul. 12, 2023 | Apr. 27, 2023 $ / shares shares | Jan. 01, 2022 $ / shares shares | Nov. 01, 2021 shares | Jun. 30, 2022 shares | Dec. 31, 2024 | Dec. 31, 2023 CNY (¥) ¥ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2021 CNY (¥) | Jan. 31, 2022 shares | Aug. 31, 2021 shares | |
Share-based Compensation [Line Items] | ||||||||||||||||||||
Maximum aggregate number of shares | 5,353,523 | 273,155 | 273,155 | |||||||||||||||||
Ordinary shares | 1,895,000 | |||||||||||||||||||
Recipient employees and directors upon vesting shares | 895,018 | 895,018 | ||||||||||||||||||
Unassigned shares | 214,149 | |||||||||||||||||||
Share-based compensation | ¥ 718,411 | $ 101,432 | ¥ 9,347,347 | ¥ 19,344 | ||||||||||||||||
Share-based compensation | ¥ | ¥ 712,184 | ¥ 9,329,484 | ||||||||||||||||||
Share Incentive Plan [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Maximum aggregate number of shares | 5,189,500 | |||||||||||||||||||
Total issued and outstanding shares percentage | 10% | |||||||||||||||||||
Contractual term | 10 years | 10 years | ||||||||||||||||||
Stock options [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Unrecognized compensation cost | ¥ | ¥ 1,032,277 | |||||||||||||||||||
Employee stock options, granted | 861,860 | 861,860 | 250,000 | |||||||||||||||||
Exercise price | ¥ / shares | ¥ 0.001 | ¥ 0.003 | ||||||||||||||||||
Contractual term | 9 years 3 months 18 days | 9 years 3 months 18 days | 9 years | |||||||||||||||||
Employes and Directors [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Recipient employees and directors upon vesting shares | 4,161,023 | 4,161,023 | ||||||||||||||||||
Class A Common Stock [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Ordinary shares | 4,684,943 | |||||||||||||||||||
Class A Common Stock [Member] | Share Incentive Plan [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Employee stock options, granted | 545,789 | 545,789 | ||||||||||||||||||
Class A Common Stock [Member] | Vested [Member] | Share Incentive Plan [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Exercise price | $ / shares | $ 0.0002 | |||||||||||||||||||
Contractual term | 10 years | 10 years | ||||||||||||||||||
Forecast [Member] | Share Incentive Plan [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Percentage of vested | 33.30% | 33.30% | 33.30% | |||||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Share-based compensation | ¥ | ¥ 6,227 | ¥ 17,863 | ¥ 19,344 | |||||||||||||||||
Unrecognized compensation cost | ¥ | ¥ 15,559 | |||||||||||||||||||
Employee stock options, granted | 250,000 | |||||||||||||||||||
Exercise price | $ / shares | $ 0.0004 | |||||||||||||||||||
Contractual term | 10 years | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Unrecognized compensation cost | ¥ | ¥ 4,264 | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Stock options [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Employee stock options, granted | 77,869 | 77,869 | ||||||||||||||||||
Contractual term | 10 years | 10 years | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Stock options [Member] | Share Incentive Plan [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Employee stock options, granted | 12,987 | |||||||||||||||||||
Exercise price | $ / shares | $ 0.0002 | |||||||||||||||||||
Contractual term | 10 years | |||||||||||||||||||
Percentage of vested | 33.30% | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Vested [Member] | Stock options [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Percentage of vested | 33.30% | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Class A Common Stock [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Employee stock options, granted | 225,215 | |||||||||||||||||||
Exercise price | $ / shares | $ 0.0002 | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Class A Common Stock [Member] | Stock options [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Exercise price | $ / shares | $ 0.0002 | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Zhejiang Haowei [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Ordinary shares | 5,626,678 | |||||||||||||||||||
Employee exercised option to purchase shares | 83,333 | 83,333 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Zhejiang Haowei [Member] | Vested [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Percentage of vested | 33.30% | 33.30% | 33.30% | |||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Forecast [Member] | Stock options [Member] | Share Incentive Plan [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Percentage of vested | 33.30% | 33.30% | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Forecast [Member] | Vested [Member] | Stock options [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Percentage of vested | 33.30% | 33.30% | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Forecast [Member] | Zhejiang Haowei [Member] | Vested [Member] | ||||||||||||||||||||
Share-based Compensation [Line Items] | ||||||||||||||||||||
Percentage of vested | 33.30% |
Share-Based Compensation (Det_2
Share-Based Compensation (Details) - Schedule of RSUs Activity - Restricted Stock Units (RSUs) [Member] - ¥ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Schedule of Summarizes the RSUs Activity [Line Items] | ||
Number of RSUs, Unvested Beginning | 2,006,387 | 3,090,710 |
Weighted Average Grant Date Fair Value, Unvested Beginning | ¥ 0.02 | ¥ 0.02 |
Number of RSUs, Granted | ||
Weighted Average Grant Date Fair Value, Granted | ||
Number of shares, Forfeited | 216,350 | 81,131 |
Weighted Average Grant Date Fair Value, Forfeited | ¥ 0.02 | ¥ 0.02 |
Number of shares, Vested | 895,019 | 1,003,192 |
Weighted Average Grant Date Fair Value, Vested | ¥ 0.02 | ¥ 0.02 |
Number of RSUs, Unvested Ending | 895,018 | 2,006,387 |
Weighted Average Grant Date Fair Value, Unvested Ending | ¥ 0.02 | ¥ 0.02 |
Share-Based Compensation (Det_3
Share-Based Compensation (Details) - Schedule of Valuation Assumptions - $ / shares | 12 Months Ended | |
Jan. 01, 2022 | Dec. 31, 2023 | |
Schedule of Valuation Assumptions [Line Items] | ||
Spot price on valuation date (in Dollars per share) | $ 4.8 | |
Expected volatility | 137.01% | |
Risk-free interest rate | 1.51% | |
Dividend yield | 0% | |
Forfeiture rate | 0% | |
2022 Share Incentive Plan [Member] | ||
Schedule of Valuation Assumptions [Line Items] | ||
Spot price on valuation date (in Dollars per share) | $ 1.06 | |
Dividend yield | 0% | |
Minimum [Member] | 2022 Share Incentive Plan [Member] | ||
Schedule of Valuation Assumptions [Line Items] | ||
Expected volatility | 120.95% | |
Risk-free interest rate | 3.53% | |
Maximum [Member] | 2022 Share Incentive Plan [Member] | ||
Schedule of Valuation Assumptions [Line Items] | ||
Expected volatility | 123.34% | |
Risk-free interest rate | 4.28% |
Share-Based Compensation (Det_4
Share-Based Compensation (Details) - Schedule of Share Option Activity - Stock Options [Member] - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Summarizes the Share Option Activity [Line Items] | |||
Number of Options, Outstanding as of ending (in Shares) | 312,386 | 250,000 | |
Weighted Average Exercise Price, Outstanding as of ending | ¥ 0.001 | ¥ 0.003 | |
Weighted Average Remaining Term (Years), Outstanding as of ending | 9 years 3 months 18 days | 9 years | |
Weighted Average Grant Date Fair Value, Outstanding as of ending | ¥ 7.34 | ¥ 60.94 | |
Aggregated Intrinsic Value, Outstanding as of ending (in Yuan Renminbi) | ¥ 4,004,469 | ¥ 2,001,626 | |
Number of Options, Granted (in Shares) | 861,860 | 250,000 | |
Weighted Average Exercise Price, Granted | ¥ 0.001 | ¥ 0.003 | |
Weighted Average Remaining Term (Years), Granted | 9 years 3 months 18 days | 10 years | |
Weighted Average Grant Date Fair Value, Granted | ¥ 7.34 | ¥ 60.94 | |
Number of Options, Forfeited (in Shares) | 211,584 | ||
Weighted Average Exercise Price, Forfeited | ¥ 0.003 | ||
Weighted Average Remaining Term (Years), Forfeited | |||
Weighted Average Grant Date Fair Value, Forfeited | ¥ 49.57 | ||
Number of Options, Exercised (in Shares) | 587,890 | ||
Weighted Average Exercise Price, Exercised | ¥ 0.002 | ||
Weighted Average Remaining Term (Years), Exercised | |||
Weighted Average Grant Date Fair Value, Exercised | ¥ 14.94 | ||
Number of Options, Vested and exercisable (in Shares) | 71,517 | 83,333 | |
Weighted Average Exercise Price, Vested and exercisable | ¥ 0.001 | ¥ 0.003 | |
Weighted Average Remaining Term (Years), Vested and exercisable | 9 years 3 months 18 days | 9 years | |
Weighted Average Grant Date Fair Value, Vested and exercisable | ¥ 7.34 | ¥ 60.94 | |
Aggregated Intrinsic Value, Vested and exercisable (in Yuan Renminbi) | ¥ 916,775 | ¥ 667,209 |
Statutory Reserves (Details)
Statutory Reserves (Details) | 12 Months Ended | ||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 USD ($) | |
Statutory Reserves [Line Items] | |||
Percentage of income tax rate | 10% | ||
Percentage of reserve capital | 50% | ||
Statutory reserve | ¥ 6,647,109 |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) | Dec. 31, 2023 shares |
Earnings (Loss) Per Share [Abstract] | |
Purchase shares | 312,386 |
Earnings (Loss) Per Share (De_2
Earnings (Loss) Per Share (Details) - Schedule of Basic and Diluted Earnings (Loss) Per Ordinary Share Computations | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) ¥ / shares shares | Dec. 31, 2023 USD ($) shares | Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2021 CNY (¥) ¥ / shares shares | ||
Schedule of Basic and Diluted Earnings (Loss) Per Ordinary Share Computations [Abstract] | |||||
Earnings (loss) attributable to ordinary shareholders of the Company (in Yuan Renminbi) | ¥ (252,823,772) | $ (35,695,959) | ¥ 31,118,886 | ¥ (174,944,484) | |
Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation | [1] | 58,885,071 | 58,885,071 | 53,244,500 | 44,938,990 |
Basic earnings (loss) per share (in Yuan Renminbi per share) | ¥ / shares | ¥ (4.29) | ¥ 0.58 | ¥ (3.89) | ||
Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation (in Yuan Renminbi) | ¥ (252,823,772) | $ (35,695,959) | ¥ 31,118,886 | ¥ (174,944,484) | |
Weighted average number of ordinary shares outstanding diluted earnings (loss) per share calculation | 58,885,071 | 58,885,071 | 53,244,500 | 44,938,990 | |
- incremental shares issuable related to options issued | 63,105 | ||||
Weighted average number of shares outstanding for diluted earnings (loss) per share calculation | [1] | 58,885,071 | 58,885,071 | 53,307,605 | 44,938,990 |
Diluted earnings (loss) per share (in Yuan Renminbi per share) | ¥ / shares | ¥ (4.29) | ¥ 0.58 | ¥ (3.89) | ||
[1]After giving effect of the reverse stock split, see Note 1. |
Income Taxes (Details)
Income Taxes (Details) | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 HKD ($) | Dec. 31, 2023 SGD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Income Taxes [Line Items] | |||||
Enterprise income tax rate | 10% | 10% | 10% | ||
Provision of valuation allowance (in Yuan Renminbi) | ¥ | ¥ 47,333,923 | ¥ 24,519,326 | ¥ 42,631,572 | ||
Reversal of valuation allowance (in Yuan Renminbi) | ¥ | ¥ 6,100,147 | ||||
Singapore [Member] | |||||
Income Taxes [Line Items] | |||||
Applicable tax rate | 17% | 17% | 17% | ||
PRC [Member] | |||||
Income Taxes [Line Items] | |||||
Statutory tax rate | 15% | 15% | 15% | ||
Enterprise income tax foreign and domestic | 25% | 25% | 25% | ||
Enterprise income tax rate | 25% | 25% | 25% | ||
Preferential tax rate | 15% | 15% | 15% | ||
United States [Member] | |||||
Income Taxes [Line Items] | |||||
Statutory tax rate | 21% | 21% | 21% | ||
Up To Two Million [Member] | Inland Revenue, Hong Kong [Member] | |||||
Income Taxes [Line Items] | |||||
Applicable tax rate | 8.25% | 8.25% | 8.25% | ||
Assessable profits (in Dollars) | $ | $ 2,000,000 | ||||
Over Two Million [Member] | Inland Revenue, Hong Kong [Member] | |||||
Income Taxes [Line Items] | |||||
Applicable tax rate | 16.50% | 16.50% | 16.50% | ||
Assessable profits (in Dollars) | $ | $ 2,000,000 | ||||
First Exemption [Member] | Singapore [Member] | |||||
Income Taxes [Line Items] | |||||
Effect of income tax exemption rate | 75% | 75% | 75% | ||
Income tax reconciliation tax exemptible income | ¥ 470,000 | $ 100,000 | |||
Second Exemption [Member] | Singapore [Member] | |||||
Income Taxes [Line Items] | |||||
Effect of income tax exemption rate | 50% | 50% | 50% | ||
Income tax reconciliation tax exemptible income | ¥ 470,000 | $ 100,000 |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of Effective Income Tax Rate and PRC Statutory Income Tax Rate - PRC Statutory Income Tax Rate [Member] | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Effective Income Tax Rate and PRC Statutory Income Tax Rate [Line Items] | |||
PRC statutory income tax rates | 25% | 25% | 25% |
Effect of expenses not deductible for tax purposes | (0.42%) | 0.91% | (0.22%) |
Effect of additional deduction of research and development expense | 5.98% | (64.43%) | 15.18% |
Effect of income tax exemptions and reliefs | (5.71%) | (56.77%) | (13.14%) |
Recovery from deferred income tax assets | 0.05% | (97.39%) | 0% |
Effect of valuation allowance on deferred income tax assets | (23.52%) | 171.26% | (26.35%) |
Income tax difference under different tax jurisdictions | (1.37%) | 21.42% | (0.47%) |
Total | 0.01% | 0% | 0% |
Income Taxes (Details) - Sche_2
Income Taxes (Details) - Schedule of Provision for Income Taxes | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Schedule of Provision for Income Taxes [Abstract] | ||||
Current income tax expense (benefit) | ¥ (17,394) | |||
Deferred tax expense | ||||
Income tax expense | ¥ (17,394) | $ (2,456) |
Income Taxes (Details) - Sche_3
Income Taxes (Details) - Schedule of Deferred Tax Assets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Schedule of Deferred Tax Assets [Abstract] | ||
Net operating loss carryforward | $ 77,373,944 | $ 63,038,127 |
Accrued expense and others | (282,843) | (29,335,373) |
Inventory impairment | 51,027,391 | 47,198,866 |
Deferred tax assets | 128,118,492 | 80,901,620 |
Less: valuation allowance | (128,118,492) | (80,901,620) |
Deferred tax assets |
Related Party Transactions (Det
Related Party Transactions (Details) | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | |
Jianping Kong [Member] | |||||
Related Party Transactions [Line Items] | |||||
Settlement of borrowings | ¥ 19,270,000 | ||||
Outstanding of borrowings | |||||
Qifeng Sun [Member] | |||||
Related Party Transactions [Line Items] | |||||
Settlement of borrowings | 12,085,000 | ||||
Outstanding of borrowings | |||||
Hangzhou Weiditu Technology Co., Ltd. [Member] | |||||
Related Party Transactions [Line Items] | |||||
Outstanding of borrowings | $ | |||||
Lent transaction amount to related party | 100,000 | ||||
Collected amount | 4,490,000 | ||||
Purchased of raw materials and services amount | 328,411 | ||||
Purchase amount | ¥ 5,045,392 | ||||
Accounts payable |
Related Party Transactions (D_2
Related Party Transactions (Details) - Schedule of Related Party | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transaction [Line Items] | |
Nature of Relationship | Nature of Relationship |
Jianping Kong [Member] | |
Related Party Transaction [Line Items] | |
Nature of Relationship | Principal shareholder, chairman and chief executive officer |
Qifeng Sun [Member] | |
Related Party Transaction [Line Items] | |
Nature of Relationship | Principal shareholder and vice chairman |
Hangzhou Weiditu Technology Co., Ltd. [Member] | |
Related Party Transaction [Line Items] | |
Nature of Relationship | Company controlled by Jianping Kong |
Concentrations (Details) - Sche
Concentrations (Details) - Schedule of Company's Revenue - Revenue Benchmark [Member] - Customer Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Customer A [Member] | |||
Schedule of Company's Revenue [Line Items] | |||
Concentration Risk, Percentage | 59% | ||
Customer B [Member] | |||
Schedule of Company's Revenue [Line Items] | |||
Concentration Risk, Percentage | 15% | ||
Customer C [Member] | |||
Schedule of Company's Revenue [Line Items] | |||
Concentration Risk, Percentage | 15% | ||
Customer D [Member] | |||
Schedule of Company's Revenue [Line Items] | |||
Concentration Risk, Percentage | 12% |
Concentrations (Details) - Sc_2
Concentrations (Details) - Schedule of Company's Purchase - Purchase [Member] - Supplier Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Supplier A [Member] | |||
Schedule of Company's Purchase [Line Items] | |||
Concentration Risk, Percentage | 38% | ||
Supplier B [Member] | |||
Schedule of Company's Purchase [Line Items] | |||
Concentration Risk, Percentage | 32% | 50% | |
Supplier C [Member] | |||
Schedule of Company's Purchase [Line Items] | |||
Concentration Risk, Percentage | 34% | ||
Supplier D [Member] | |||
Schedule of Company's Purchase [Line Items] | |||
Concentration Risk, Percentage | 14% | ||
Supplier E [Member] | |||
Schedule of Company's Purchase [Line Items] | |||
Concentration Risk, Percentage | 23% | 13% |
Commitments and Contingencies (
Commitments and Contingencies (Details) | 12 Months Ended | ||
Dec. 31, 2023 CNY (¥) | Nov. 18, 2023 CNY (¥) | Sep. 08, 2023 USD ($) | |
Commitments and Contingencies [Line Items] | |||
Construction in progress amount | ¥ 39,119,300 | ||
Contract liability | ¥ 47,000,000 | $ 300,000 | |
Frozen amount | 418,201 | ||
Contingencies [Member] | |||
Commitments and Contingencies [Line Items] | |||
Frozen amount | ¥ 417,990 |
Subsequent Events (Details)
Subsequent Events (Details) ¥ in Millions | 4 Months Ended | |||||
Jan. 25, 2024 $ / shares shares | Apr. 30, 2024 CNY (¥) | Feb. 05, 2024 $ / shares shares | Dec. 31, 2023 $ / shares shares | Dec. 31, 2022 $ / shares shares | Jan. 08, 2021 $ / shares | |
Subsequent Events [Line Items] | ||||||
Ordinary shares par value | $ 0.0002 | |||||
Class A Ordinary Shares [Member] | ||||||
Subsequent Events [Line Items] | ||||||
Ordinary shares authorized | shares | 121,410,923 | 121,410,923 | ||||
Ordinary shares par value | $ 0.0002 | $ 0.0002 | ||||
Common Class B [Member] | ||||||
Subsequent Events [Line Items] | ||||||
Ordinary shares authorized | shares | 28,589,078 | 28,589,078 | ||||
Ordinary shares par value | $ 0.0002 | $ 0.0002 | ||||
Subsequent Event [Member] | ||||||
Subsequent Events [Line Items] | ||||||
Divided share | shares | 250,000,000 | |||||
Ordinary shares par value | $ 0.0002 | |||||
Ordinary shares authorized | shares | 99,999,999 | |||||
Ordinary shares par value | $ 0.0002 | |||||
Exercise price per share | $ 0.0002 | |||||
Subsequent Event [Member] | Class A Ordinary Shares [Member] | ||||||
Subsequent Events [Line Items] | ||||||
Ordinary shares authorized | shares | 121,410,923 | |||||
Ordinary shares par value | $ 0.0002 | |||||
Exercise vested options to purchase | shares | 36,067 | |||||
Subsequent Event [Member] | Common Class B [Member] | ||||||
Subsequent Events [Line Items] | ||||||
Ordinary shares authorized | shares | 28,589,078 | |||||
Ordinary shares par value | $ 0.0002 | |||||
Forecast [Member] | ||||||
Subsequent Events [Line Items] | ||||||
Credit line borrowed | ¥ | ¥ 20.2 | |||||
Annual interest rate percentage | 5.40% |
Parent-Only Financial Stateme_3
Parent-Only Financial Statements (Details) - Schedule of Condensed Balance Sheets - Parent [Member] | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
ASSETS/(LIABILITIES) | |||||||
Cash and cash equivalents | ¥ 1,205,993 | $ 170,273 | ¥ 25,769 | $ 3,639 | ¥ 88,571 | ||
Prepayments | 13,776 | 1,945 | |||||
Due from intercompany | 456,041,568 | 64,388,096 | 380,321,338 | ||||
Investment in subsidiaries | (471,994,335) | (66,640,453) | (215,932,707) | ||||
TOTAL ASSETS (LIABILITIES) | (14,732,998) | (2,080,139) | 164,414,400 | ||||
SHAREHOLDERS’ EQUITY (DEFICIT) | |||||||
Additional paid-in capital | 428,310,028 | 60,472,705 | 354,803,564 | ||||
Accumulated deficit | (452,031,693) | (63,821,945) | (199,207,921) | ||||
Statutory reserves | 6,647,109 | 938,499 | 6,647,109 | ||||
Accumulated other comprehensive income | 2,254,558 | 318,319 | 2,099,329 | ||||
TOTAL NANO LABS LTD SHAREHOLDERS’ EQUITY (DEFICIT) | (14,732,998) | (2,080,139) | 164,414,400 | ||||
Class A Ordinary Shares | |||||||
SHAREHOLDERS’ EQUITY (DEFICIT) | |||||||
Ordinary shares, value | [1] | 50,106 | 7,074 | 35,425 | |||
Class B Ordinary Shares | |||||||
SHAREHOLDERS’ EQUITY (DEFICIT) | |||||||
Ordinary shares, value | [1] | ¥ 36,894 | $ 5,209 | ¥ 36,894 | |||
[1]After giving effect of the reverse stock split, see Note 1. |
Parent-Only Financial Stateme_4
Parent-Only Financial Statements (Details) - Schedule of Condensed Balance Sheets (Parentheticals) - Parent [Member] - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Class A Ordinary Shares | ||
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Ordinary shares, par value (in Dollars per share) | $ 0.0002 | $ 0.0002 |
Ordinary shares, authorized | 121,410,923 | 121,410,923 |
Ordinary shares, issued | 41,927,302 | 27,159,258 |
Ordinary shares, outstanding | 37,242,359 | 27,159,258 |
Class B Ordinary Shares | ||
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Ordinary shares, par value (in Dollars per share) | $ 0.0002 | $ 0.0002 |
Ordinary shares, authorized | 28,589,078 | 28,589,078 |
Ordinary shares, issued | 28,589,078 | 28,589,078 |
Ordinary shares, outstanding | 28,589,078 | 28,589,078 |
Parent-Only Financial Stateme_5
Parent-Only Financial Statements (Details) - Schedule of Condensed Statements of Operations and Comprehensive Income (Loss) - Parent [Member] | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Condensed Statement of Income Captions [Line Items] | ||||
Net revenues | ||||
Operating expenses: | ||||
Selling and marketing expenses | 980 | |||
General and administrative expenses | 471,664 | 66,594 | 5,822,906 | 306,775 |
Total operating expenses | 471,664 | 66,594 | 5,822,906 | 307,755 |
Loss from operations | (471,664) | (66,594) | (5,822,906) | (307,755) |
Finance income | 110,971 | 15,668 | 66,144 | |
Investment income | 53,809 | |||
Income (loss) from investment in subsidiaries | (252,463,079) | (35,645,033) | 36,821,839 | (174,636,729) |
Net income (loss) attributable to Nano Labs Ltd | (252,823,772) | (35,695,959) | 31,118,886 | (174,944,484) |
Net income (loss) | (252,823,772) | (35,695,959) | 31,118,886 | (174,944,484) |
Other comprehensive income (loss) | ||||
Foreign currency translation adjustment | 155,229 | 21,917 | 4,566,656 | (2,467,327) |
Total comprehensive income (loss) attributable to Nano Labs Ltd | ¥ (252,668,543) | $ (35,674,042) | ¥ 35,685,542 | ¥ (177,411,811) |
Parent-Only Financial Stateme_6
Parent-Only Financial Statements (Details) - Schedule of Condensed Statements of Cash Flows - Parent [Member] | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided by (used in) operating activities | ¥ 344,012 | $ 48,571 | ¥ 3,911,561 | ¥ (535,017) |
Net cash used in investing activities | (68,918,960) | (9,730,605) | (155,900,936) | (201,554,446) |
Net cash provided by financing activities | 72,802,734 | 10,278,952 | 144,043,186 | 201,251,124 |
Effect of exchange rate changes on cash and cash equivalents | (3,047,562) | (430,284) | 7,883,387 | 926,910 |
Net increase (decrease) in cash and cash equivalents | 1,180,224 | 166,634 | (62,802) | 88,571 |
Cash and cash equivalents at beginning of the year | 25,769 | 3,639 | 88,571 | |
Cash and cash equivalents at end of the year | ¥ 1,205,993 | $ 170,273 | ¥ 25,769 | ¥ 88,571 |