Nano Labs Ltd. Sponsored ADR Class A (NA) has released an update.
Nano Labs Ltd. reported a considerable year-over-year decline in its H2 2023 financial performance, with net revenue plummeting to RMB26.1 million from RMB603.0 million and net losses widening to RMB120.0 million from RMB80.3 million. Despite the setbacks, the company remains optimistic, citing supportive government policies and market recovery signs, and it’s focusing on global market expansion and R&D for future growth. Their metaverse business line is gaining traction with services praised by athletes at the Asian Games, hinting at potential in digital application scenarios.
For further insights into NA stock, check out TipRanks’ Stock Analysis page.
