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Nano Labs Ltd: 20-F filed 2026-04-13

What Nano Labs Ltd reported in its annual report (foreign private issuer) filed 2026-04-13 (fiscal FY 2025): 53 published measures, 179 facts as tagged in accession 0001213900-26-042816.

This filing

Form
20-F (annual report (foreign private issuer))
Filed
2026-04-13
Fiscal period
fiscal FY 2025
Accession
0001213900-26-042816 on SEC EDGAR

Values are as tagged in this filing. A later filing can restate them; each measure links to its history page, which shows the latest-filed value per period. All Nano Labs Ltd filings.

Reported measures

Total assets

Resources recognized on the balance sheet. Book assets are not the market value of the business.

PeriodValueUnitDays
At 2025-12-311,119,504,342CNY
At 2024-12-31615,933,492CNY
At 2025-12-31159,273,894USD

Total liabilities

Recognized obligations at the reporting date. The definition and scope differ from interest-bearing debt.

PeriodValueUnitDays
At 2025-12-31378,606,127CNY
At 2024-12-31383,025,668CNY
At 2025-12-3153,864,974USD

Stockholders equity

The reported residual interest after liabilities. It is an accounting amount, not market capitalization.

PeriodValueUnitDays
At 2025-12-31748,293,942CNY
At 2024-12-31230,789,121CNY
At 2025-12-31106,461,123USD

Cash and cash equivalents

Cash and qualifying short-term liquid investments under the filer’s accounting policy. Restricted cash and longer-term investments may be reported separately.

PeriodValueUnitDays
At 2025-12-318,502,357CNY
At 2024-12-3132,431,081CNY
At 2025-12-311,209,646USD

Net income or loss

Reported profit or loss for the period. Check the filing for attribution, exceptional items and discontinued operations before comparing companies.

PeriodValueUnitDays
2025-01-01 to 2025-12-31135,466,040CNY365
2024-01-01 to 2024-12-31-113,187,048CNY366
2023-01-01 to 2023-12-31-252,823,772CNY365
2025-01-01 to 2025-12-3119,272,998USD365

Operating cash flow

Cash generated or used by operating activities. Working-capital timing can make this differ substantially from reported income.

PeriodValueUnitDays
2025-01-01 to 2025-12-31-108,268,892CNY365
2024-01-01 to 2024-12-31-139,329,150CNY366
2023-01-01 to 2023-12-31-133,473,937CNY365
2025-01-01 to 2025-12-31-15,403,609USD365

Capital expenditure payments

Cash payments to acquire property, plant and equipment. This taxonomy concept does not capture every form of investment or acquisition.

PeriodValueUnitDays
2025-01-01 to 2025-12-3146,283CNY365
2024-01-01 to 2024-12-3136,367,661CNY366
2023-01-01 to 2023-12-31105,482,822CNY365
2025-01-01 to 2025-12-316,585USD365

Revenue

Revenue under this specific accounting concept. A missing value is not zero; filers can use other revenue concepts.

PeriodValueUnitDays
2025-01-01 to 2025-12-3127,006,744CNY365
2024-01-01 to 2024-12-3140,595,916CNY366
2023-01-01 to 2023-12-3178,335,376CNY365
2025-01-01 to 2025-12-313,842,298USD365

Financing cash flow

Net cash from financing activities, including borrowing, repayments and transactions with owners. A positive amount does not establish operating profitability.

PeriodValueUnitDays
2025-01-01 to 2025-12-31382,392,050CNY365
2024-01-01 to 2024-12-31375,982,804CNY366
2023-01-01 to 2023-12-31199,520,201CNY365
2025-01-01 to 2025-12-3154,403,604USD365

Investing cash flow

Net cash from investing activities, including asset purchases, disposals and investment transactions. This differs from capital expenditure payments alone.

PeriodValueUnitDays
2025-01-01 to 2025-12-31-296,191,311CNY365
2024-01-01 to 2024-12-31-256,765,541CNY366
2023-01-01 to 2023-12-31-105,482,822CNY365
2025-01-01 to 2025-12-31-42,139,670USD365

Retained earnings or deficit

Accumulated undistributed earnings or deficit at the reporting date. This balance is not cash available for distribution.

PeriodValueUnitDays
At 2025-12-31-429,752,701CNY
At 2024-12-31-565,218,741CNY
At 2025-12-31-61,141,689USD

Basic weighted-average shares

Time-weighted shares used for basic earnings per share. This denominator differs from shares outstanding at a single reporting date.

PeriodValueUnitDays
2025-01-01 to 2025-12-3119,858,117shares365
2024-01-01 to 2024-12-318,049,592shares366
2023-01-01 to 2023-12-315,888,507shares365

Diluted weighted-average shares

Weighted-average shares used for diluted earnings per share. Potential shares are included under the applicable dilution rules, not simply added to outstanding shares.

PeriodValueUnitDays
2025-01-01 to 2025-12-3119,862,161shares365
2024-01-01 to 2024-12-318,049,592shares366
2023-01-01 to 2023-12-315,888,507shares365

Basic earnings per share

Reported earnings or loss per basic common share or unit. Inspect attribution, share classes and restatements before comparing periods. This is not a market return.

PeriodValueUnitDays
2025-01-01 to 2025-12-316.82CNY/shares365
2024-01-01 to 2024-12-31-14.06CNY/shares366
2023-01-01 to 2023-12-31-42.94CNY/shares365
2025-01-01 to 2025-12-310.97USD/shares365

Diluted earnings per share

Reported earnings or loss per share under dilution rules. Antidilutive instruments may be excluded. A diluted value can equal the basic value without implying no potential dilution.

PeriodValueUnitDays
2025-01-01 to 2025-12-316.82CNY/shares365
2024-01-01 to 2024-12-31-14.06CNY/shares366
2023-01-01 to 2023-12-31-42.94CNY/shares365
2025-01-01 to 2025-12-310.97USD/shares365

Income tax expense or benefit

Current and deferred income tax expense or benefit for continuing operations. This accounting expense differs from cash taxes paid.

PeriodValueUnitDays
2023-01-01 to 2023-12-31-17,394CNY365

Net property, plant and equipment

Carrying amount of property, plant and equipment after accumulated depreciation, depletion and amortization. It is not replacement cost or market value.

PeriodValueUnitDays
At 2025-12-31182,630,671CNY
At 2024-12-31197,341,915CNY
At 2025-12-3125,983,194USD

Share-based compensation expense

Reported noncash expense for share-based payment arrangements. Noncash treatment does not mean the awards have no economic cost to shareholders.

PeriodValueUnitDays
2025-01-01 to 2025-12-3173,013CNY365
2024-01-01 to 2024-12-31401,520CNY366
2023-01-01 to 2023-12-31718,411CNY365
2025-01-01 to 2025-12-3110,388USD365

Operating income or loss

Operating revenue less operating expenses for the reporting period. It excludes items outside the reported operating result and is not free cash flow.

PeriodValueUnitDays
2025-01-01 to 2025-12-3171,393,236CNY365
2024-01-01 to 2024-12-31-114,255,886CNY366
2023-01-01 to 2023-12-31-260,785,294CNY365
2025-01-01 to 2025-12-3110,157,244USD365

Current assets

Assets classified as current under the normal operating cycle or one-year boundary. Not all current assets can be converted immediately into cash.

PeriodValueUnitDays
At 2025-12-31430,865,025CNY
At 2024-12-31337,692,972CNY
At 2025-12-3161,299,941USD

Current liabilities

Obligations classified as current under the operating-cycle or one-year boundary. The balance includes more than short-term borrowing.

PeriodValueUnitDays
At 2025-12-31206,006,543CNY
At 2024-12-31209,424,682CNY
At 2025-12-3129,308,921USD

Current accounts payable

Current amounts owed to suppliers for goods and services received. This is one component of current liabilities, not all accrued obligations.

PeriodValueUnitDays
At 2025-12-3119,424,629CNY
At 2024-12-3118,101,451CNY
At 2025-12-312,763,577USD

Net finite-lived intangible assets

Finite-lived intangible assets after amortization. This excludes goodwill and should not be combined with indefinite-lived intangible assets without checking scope.

PeriodValueUnitDays
At 2025-12-3145,759,600CNY
At 2024-12-3146,745,444CNY
At 2025-12-316,510,300USD

Net current accounts receivable

Current customer receivables after the allowance for credit loss. The balance is not cash collected or a guarantee of collection.

PeriodValueUnitDays
At 2025-12-31281,446CNY
At 2024-12-31572,803CNY
At 2025-12-3140,042USD

Common-stock repurchase payments

Cash paid to reacquire common stock during the period. This is not an authorization limit or a direct measure of the net change in share count.

PeriodValueUnitDays
2025-01-01 to 2025-12-311,666,859CNY365
2025-01-01 to 2025-12-31237,147USD365

Operating expenses

Recurring operating costs under this accounting concept, generally excluding production costs included in cost of sales. Check filing presentation before combining expense subtotals.

PeriodValueUnitDays
2025-01-01 to 2025-12-31-111,183,533CNY365
2024-01-01 to 2024-12-31125,858,201CNY366
2023-01-01 to 2023-12-31157,336,094CNY365
2025-01-01 to 2025-12-31-15,818,281USD365

Net inventory

Inventory carrying amount after applicable valuation and LIFO reserves. It does not establish realizable selling proceeds or inventory turnover without other inputs.

PeriodValueUnitDays
At 2025-12-3113,693,374CNY
At 2024-12-3129,866,418CNY
At 2025-12-311,948,181USD

Gross profit

Revenue less the costs directly attributed to the goods or services sold. It precedes other operating expenses and is not net income.

PeriodValueUnitDays
2025-01-01 to 2025-12-31-39,790,297CNY365
2024-01-01 to 2024-12-3111,602,315CNY366
2023-01-01 to 2023-12-31-103,449,200CNY365
2025-01-01 to 2025-12-31-5,661,037USD365

Cost of revenue

Costs attributed to goods produced and sold and services provided during the period. This is not the sum of every operating expense.

PeriodValueUnitDays
2025-01-01 to 2025-12-3166,797,041CNY365
2024-01-01 to 2024-12-3128,993,601CNY366
2023-01-01 to 2023-12-31181,784,576CNY365
2025-01-01 to 2025-12-319,503,335USD365

Research and development expense

Research and development costs recognized as expense. Capitalization policies and acquired projects can make this differ from total cash invested in development.

PeriodValueUnitDays
2025-01-01 to 2025-12-318,057,816CNY365
2024-01-01 to 2024-12-3150,145,125CNY366
2023-01-01 to 2023-12-3188,601,470CNY365
2025-01-01 to 2025-12-311,146,400USD365

Cash including restricted cash

Cash, cash equivalents and restricted cash as reported in the cash flow reconciliation. Restricted amounts are not freely available, so this is not the same as unrestricted cash.

PeriodValueUnitDays
At 2025-12-319,850,152CNY
At 2024-12-3132,849,803CNY
At 2023-12-3148,582,654CNY
At 2022-12-3187,859,384CNY
At 2025-12-311,401,399USD
At 2024-12-314,673,600USD

Accumulated other comprehensive income or loss

Cumulative other comprehensive items after tax, such as translation and unrealized hedging or securities effects. These amounts have not passed through net income.

PeriodValueUnitDays
At 2025-12-31-7,450,495CNY
At 2024-12-318,647,353CNY
At 2025-12-31-1,059,995USD

Total equity including noncontrolling interests

Equity including the portion attributable to noncontrolling interests. It is larger than or equal to parent stockholders equity and is not market capitalization.

PeriodValueUnitDays
At 2025-12-31740,898,215CNY
At 2024-12-31232,907,824CNY
At 2023-12-31-16,261,350CNY
At 2022-12-31164,414,400CNY
At 2025-12-31105,408,920USD

Operating lease right-of-use asset

Carrying amount of the right to use leased assets under operating leases. It reflects discounted remaining payments, not the value of the underlying property.

PeriodValueUnitDays
At 2025-12-313,090,851CNY
At 2024-12-315,203,525CNY
At 2025-12-31439,741USD

Operating lease liability

Present value of remaining operating lease payments. Discount-rate choices and lease terms affect the amount; it is not the sum of undiscounted future rent.

PeriodValueUnitDays
At 2025-12-312,822,424CNY

Long-term debt

Long-term borrowings under this concept, which can include the current portion depending on presentation. It is not total liabilities and may exclude leases and other obligations.

PeriodValueUnitDays
At 2025-12-31177,792,834CNY

Accumulated depreciation on property, plant and equipment

Cumulative depreciation, depletion and amortization recorded against property, plant and equipment. It measures cost allocation to date, not physical wear or market value.

PeriodValueUnitDays
At 2025-12-3127,200,724CNY
At 2024-12-3118,165,635CNY

Current contract liabilities

Consideration received before performance obligations are satisfied, often called deferred revenue. It is an obligation to deliver, not earned revenue or cash available.

PeriodValueUnitDays
At 2025-12-3169,314,154CNY
At 2024-12-3198,895,905CNY

Pre-tax income or loss from continuing operations

Income or loss from continuing operations before income taxes and noncontrolling interests. It excludes discontinued operations and is not net income.

PeriodValueUnitDays
2025-01-01 to 2025-12-31125,947,598CNY365
2024-01-01 to 2024-12-31-119,539,049CNY366
2023-01-01 to 2023-12-31-254,369,448CNY365
2025-01-01 to 2025-12-3117,918,792USD365

Profit or loss including noncontrolling interests

Net income or loss including the portion attributable to noncontrolling interests. It can differ from the net income attributable to the parent that per-share figures use.

PeriodValueUnitDays
2025-01-01 to 2025-12-31125,947,598CNY365
2024-01-01 to 2024-12-31-119,539,049CNY366
2023-01-01 to 2023-12-31-254,352,054CNY365
2025-01-01 to 2025-12-3117,918,792USD365

Comprehensive income or loss

Net income plus other comprehensive income after tax. It includes unrealized items that net income excludes and is not a cash measure.

PeriodValueUnitDays
2025-01-01 to 2025-12-31119,368,192CNY365
2024-01-01 to 2024-12-31-106,794,253CNY366
2023-01-01 to 2023-12-31-252,668,543CNY365
2025-01-01 to 2025-12-3116,982,728USD365

Net income available to common stockholders

Net income after preferred dividends and similar adjustments, the numerator for basic earnings per share. It can be lower than reported net income.

PeriodValueUnitDays
2025-01-01 to 2025-12-31135,466,040CNY365
2024-01-01 to 2024-12-31-113,187,048CNY366
2023-01-01 to 2023-12-31-252,823,772CNY365

General and administrative expense

General and administrative costs reported under this concept, separate from selling expense. Filers group overhead differently, so compare presentation before comparing companies.

PeriodValueUnitDays
2025-01-01 to 2025-12-3154,605,025CNY365
2024-01-01 to 2024-12-3150,832,703CNY366
2023-01-01 to 2023-12-3153,402,101CNY365
2025-01-01 to 2025-12-317,768,755USD365

Depreciation expense

Depreciation recognized for the period under this concept. It is a noncash allocation of asset cost and may exclude amortization and depletion reported elsewhere.

PeriodValueUnitDays
2025-01-01 to 2025-12-319,975,895CNY365
2024-01-01 to 2024-12-318,669,931CNY366
2023-01-01 to 2023-12-313,436,716CNY365

Amortization of intangible assets

Amortization recognized on finite-lived intangible assets. It follows acquisition accounting and does not indicate the intangibles are losing usefulness at that rate.

PeriodValueUnitDays
2025-01-01 to 2025-12-31985,844CNY365
2024-01-01 to 2024-12-31985,844CNY366
2023-01-01 to 2023-12-31985,844CNY365

Nonoperating interest expense

Interest expense presented outside operating results. It differs from total interest expense when some borrowing cost is classified as operating or capitalized.

PeriodValueUnitDays
2025-01-01 to 2025-12-3116,938,237CNY365
2024-01-01 to 2024-12-316,913,314CNY366
2025-01-01 to 2025-12-312,409,833USD365

Nonoperating income or expense

Total nonoperating income or expense, which can include interest, investment results and other items. A positive value is not operating profit.

PeriodValueUnitDays
2025-01-01 to 2025-12-3154,554,362CNY365
2024-01-01 to 2024-12-31-5,283,163CNY366
2023-01-01 to 2023-12-316,415,846CNY365
2025-01-01 to 2025-12-317,761,548USD365

Interest paid, net

Cash interest paid during the period, net of amounts capitalized where the filer reports it that way. It differs from interest expense recognized.

PeriodValueUnitDays
2025-01-01 to 2025-12-3110,583,567CNY365
2024-01-01 to 2024-12-319,281,086CNY366
2023-01-01 to 2023-12-313,773,028CNY365
2025-01-01 to 2025-12-311,505,743USD365

Proceeds from issuing common stock

Cash received from issuing common stock during the period. It is gross of costs only where the filer reports it so, and it does not include noncash issuances.

PeriodValueUnitDays
2025-01-01 to 2025-12-31357,040,431CNY365
2024-01-01 to 2024-12-31315,620,394CNY366
2023-01-01 to 2023-12-3172,802,734CNY365
2025-01-01 to 2025-12-3150,796,783USD365

Operating lease payments

Cash paid for operating lease liabilities during the period. It differs from lease expense recognized and excludes variable payments in some presentations.

PeriodValueUnitDays
2025-01-01 to 2025-12-311,363,825CNY365
2024-01-01 to 2024-12-312,360,943CNY366
2023-01-01 to 2023-12-314,648,690CNY365

Change in accounts receivable

The cash flow adjustment for the change in receivables during the period. A positive value under this concept means receivables grew and reduced operating cash flow.

PeriodValueUnitDays
2025-01-01 to 2025-12-31-286,234CNY365
2024-01-01 to 2024-12-31-1,175,678CNY366
2023-01-01 to 2023-12-311,732,378CNY365
2025-01-01 to 2025-12-31-40,723USD365

Change in inventories

The cash flow adjustment for the change in inventories during the period. A positive value under this concept means inventory grew and reduced operating cash flow.

PeriodValueUnitDays
2025-01-01 to 2025-12-3116,476,108CNY365
2024-01-01 to 2024-12-3127,884,590CNY366
2023-01-01 to 2023-12-31-28,782,243CNY365
2025-01-01 to 2025-12-312,344,085USD365

Change in accounts payable

The cash flow adjustment for the change in payables during the period. A positive value under this concept means payables grew and added to operating cash flow.

PeriodValueUnitDays
2025-01-01 to 2025-12-311,372,916CNY365
2024-01-01 to 2024-12-311,079,515CNY366
2023-01-01 to 2023-12-31898,564CNY365
2025-01-01 to 2025-12-31195,327USD365

Inspect the source

Entity
Nano Labs Ltd / CIK 0001872302
Captured
2026-09-21T17:39:55.174Z
SEC response SHA-256
a42cf6e4ab39ff39db0643ebd1fe58cee94809f0e33e947103b98505633ee4ac

Current SEC company facts · Download the original response snapshot (gzip) · Download the selected JSON

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import json
from urllib.request import urlopen

with urlopen("https://canlicapital.com/company-data/0001872302.json") as response:
    record = json.load(response)
print(record["fetched_at"])
print(record["policy"])
for concept in record["concepts"]:
    print(concept["tag"], next(iter(concept["observations"])))