Nano Labs management commentary flags H1 2026 net loss driven by RMB 250.5 million cryptocurrency fair-value loss

• In management commentary on the six months ended June 30, 2026, Nano Labs posted net revenue of RMB 2.78 million, down from RMB 8.28 million.
• Lower iPollo V Series mining-machine sales drove the drop in product revenue to RMB 2.43 million from RMB 7.93 million.
• Net loss widened to RMB 316.7 million from RMB 11.78 million, led by a RMB 250.5 million loss on cryptocurrency fair-value changes.
• Gross loss narrowed to RMB 5.85 million from RMB 10.71 million, while gross loss margin worsened to 210.4% from 129.3%.
• Management highlighted BNB as the primary reserve asset, citing holdings near US$ 54 million in BNB and US$ 8.8 million in USDT.

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