Nano Labs Ltd Files 20-F/A Amendment
Ticker: NA · Form: 20-F/A · Filed: May 28, 2024 · CIK: 1872302
Sentiment: neutral
Topics: amendment, annual-report, semiconductors
TL;DR
**Nano Labs Ltd just filed an amended annual report for 2023. Check it for updates.**
AI Summary
Nano Labs Ltd filed an amendment (20-F/A) to its annual report for the fiscal year ended December 31, 2023. The filing, submitted on May 28, 2024, pertains to the company's operations in the semiconductors and related devices industry. The company's principal executive offices are located in Hangzhou, China.
Why It Matters
This amendment provides updated information for the fiscal year 2023, which is crucial for investors to assess the company's financial health and operational status.
Risk Assessment
Risk Level: medium — As a foreign private issuer filing an amendment to its annual report, there may be ongoing disclosures and potential adjustments that could impact investor understanding.
Key Numbers
- 2023 — Fiscal Year End (The period covered by the annual report amendment.)
- 001-41426 — SEC File Number (The company's assigned file number with the SEC.)
Key Players & Entities
- Nano Labs Ltd (company) — Filer of the 20-F/A amendment
- 0001213900-24-047062 (filing_id) — Accession number for the filing
- 20231231 (date) — Conformed period of report (fiscal year end)
- 20240528 (date) — Filing date of the amendment
- 3674 (industry_code) — Standard Industrial Classification for Semiconductors & Related Devices
- Hangzhou (location) — City of the company's business and mail address
FAQ
What specific changes or updates are detailed in this Amendment No. 1 to Form 20-F?
The filing is an amendment to the annual report for the fiscal year ended December 31, 2023, indicating that the original filing may have contained errors or omissions that are now being corrected or supplemented.
When was this amendment filed with the SEC?
This amendment was filed on May 28, 2024.
What is Nano Labs Ltd's primary industry?
Nano Labs Ltd operates in the Semiconductors & Related Devices industry, as indicated by its Standard Industrial Classification code 3674.
Where are Nano Labs Ltd's principal executive offices located?
The company's business and mail address is located at 30 Floor, Dicara Silver Center, No.29 Jiefang East Rd, Jianggan District, Hangzhou, China.
Is this filing an initial registration or an annual report?
This filing is marked as an Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, specifically an amendment to the report for the fiscal year ended December 31, 2023.
Filing Stats: 4,626 words · 19 min read · ~15 pages · Grade level 13.1 · Accepted 2024-05-28 16:00:52
Key Financial Figures
- $0.0002 — : Class A ordinary shares, par value US$0.0002 each (giving effect to the 2-for-1 shar
- $0.0001 — idated two shares with a par value of US$0.0001 each in our issued and unissued share c
- $50,000 — , our authorized share capital became US$50,000 divided into 250,000,000 ordinary share
- $1 — dollars has been made at RMB7.0827 to US$1.00, the central parity rate on December
- $0.9 million — s had reserve fund of RMB6.6 million (US$0.9 million). None of our PRC subsidiaries has iss
- $21.1 m — 2023, we transferred cash proceeds of US$21.1 million, US$24.3 million and US$17.5 mill
- $24.3 million — red cash proceeds of US$21.1 million, US$24.3 million and US$17.5 million to our PRC subsidia
- $17.5 million — US$21.1 million, US$24.3 million and US$17.5 million to our PRC subsidiaries for the settlem
Filing Documents
- ea0206881-20fa1_nanolabs.htm (20-F/A) — 2274KB
- ea020688101ex12-1_nanolabs.htm (EX-12.1) — 11KB
- ea020688101ex12-2_nanolabs.htm (EX-12.2) — 12KB
- ea020688101ex13-1_nanolabs.htm (EX-13.1) — 4KB
- ea020688101ex13-2_nanolabs.htm (EX-13.2) — 4KB
- ea020688101ex15-1_nanolabs.htm (EX-15.1) — 5KB
- ea020688101ex15-2_nanolabs.htm (EX-15.2) — 2KB
- image_001.jpg (GRAPHIC) — 195KB
- ex15-1_001.jpg (GRAPHIC) — 15KB
- 0001213900-24-047062.txt ( ) — 10167KB
- ck0001872302-20231231.xsd (EX-101.SCH) — 87KB
- ck0001872302-20231231_cal.xml (EX-101.CAL) — 61KB
- ck0001872302-20231231_def.xml (EX-101.DEF) — 423KB
- ck0001872302-20231231_lab.xml (EX-101.LAB) — 746KB
- ck0001872302-20231231_pre.xml (EX-101.PRE) — 428KB
- ea0206881-20fa1_nanolabs_htm.xml (XML) — 1166KB
QUANTITATIVE AND QUALITATIVE DISCLOSURES
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 136 Item 12.
DESCRIPTION OF SECURITIES OTHER THAN
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 137 PART II 138 Item 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 138 Item 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 138 Item 15.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 139 Item 16. [RESERVED] 140 Item 16A. AUDIT COMMITTEE FINANCIAL EXPERT 140 Item 16B. CODE OF ETHICS 140 Item 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 141 Item 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 141 Item 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 141 Item 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 141 Item 16G. CORPORATE GOVERNANCE 141 Item 16H. MINE SAFETY DISCLOSURE 142 Item 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 142 ITEM 16J. INSIDER TRADING POLICIES 142 ITEM 16K. CYBERSECURITY 143 PART III 144 Item 17.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 144 Item 18.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 144 Item 19. EXHIBITS 144 INDEX TO CONSOLIDATED
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS F-1 i INTRODUCTION Except where the context otherwise requires and for purposes of this annual report on Form 20-F only: "CAGR" refers to compound annual growth rate; "China" and "PRC" refers to the People's Republic of China, excluding, for the purposes of this annual report only, Taiwan, the Hong Kong Special Administrative Region and the Macau Special Administrative Region; "Class A ordinary shares" refers to our Class A ordinary shares, par value US$0.0002 per share; "Class B ordinary shares" refers to our Class B ordinary shares, par value US$0.0002 per share; "hash rate" refers to the processing power of the cryptocurrency network and represents the number of computations that is processed by the network in a given time period; "ICs" or "chips" refers to integrated circuits; "nm" refers to nanometer (1 meter = 1,000,000,000 nanometers); "RMB" and "Renminbi" refers to the legal currency of China; "shares" and "ordinary shares" refers to our Class A ordinary shares and our Class B ordinary shares; "TH/s" and "GH/s" refers to the measuring unit of hash rate, which represent the processing power of the cryptocurrency mining machine. 1 TH/s =1,000 GH/s; "US$" and "U.S. dollars" refers to the legal currency of the United States of America; and "we," "us," "our company," "our," and "our group" refers to Nano Labs Ltd, our Cayman Islands holding company, its predecessor entity and its subsidiaries, as the context requires. 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 our American depositary shares, effective from February 1, 2024. Effective from January 31, 2024, we conducted a 2-to-1 share consolidation, which consolidated two shares with a par value of US$0.0001 each in our issued and unissued share capital into one share with a par value of US$
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.
OFFER STATISTICS AND EXPECTED TIMETABLE
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.
KEY INFORMATION
ITEM 3. KEY INFORMATION Investors in our Class A ordinary shares are not purchasing equity securities of our subsidiaries that have substantive business operations in China but instead are purchasing equity securities of a Cayman Islands holding company. Nano Labs Ltd is a holding company with no material operations of its own. We conduct our operations primarily through our subsidiaries in China and a subsidiary in Hong Kong. This structure involves unique risks to investors in our Class A ordinary shares. For details, see "—D. Risk Factors—Risks Relating to Our Corporate Structure and Governance—Investors in our Class A ordinary shares are not purchasing equity securities of our subsidiaries that have substantive business operations in China but instead are purchasing equity securities of a Cayman Islands holding company." We face various legal and operational risks and uncertainties related to being based in and having significant operations in China. The PRC government has significant authority to exert influence on the ability of a China-based company, such as us, to conduct its business, accept foreign investments or list on U.S. or other foreign exchanges. For example, we face risks associated with regulatory approvals of offshore offerings and oversight on cybersecurity and data privacy. The PRC government may intervene in or influence our operations at any time, or may exert control over operations of our business, which could result in a material change in our operations and/or the value of our Class A ordinary shares. See also "—D. Risk Factors—Risks Related to Conducting Business in China—The PRC government has significant authority to exert influence on the China operations of an offshore holding company, and offerings conducted overseas and foreign investment in China-based issuers, such as us. Changes in China's economic, political or social conditions or government policies could have a material adverse effect on our business, results of operatio