Nano Labs Ltd.
We are a leading fabless integrated circuit, or IC, design company and product solution provider in China. (Incorporated in the Cayman Islands)
We are committed to the development of high throughput computing, or HTC, chips, high performance computing, or HPC, chips, distributed computing and storage solutions, smart network interface cards, or NICs, vision computing chips and distributed rendering. We have built a comprehensive flow processing unit, or FPU, architecture, which offers a solution that integrates the features of both HTC and HPC. Moreover, our Cuckoo series is one of the first near-memory HTC chips available in the market with a maximum bandwidth of approximately 2.27 Tbps, as well as one of the first movers of the ASIC-based Grin mining market, according to the F&S report. In June 2021, we established IPOLLO PTE. LTD., our indirect wholly owned subsidiary in Singapore, to facilitate our business expansion in the overseas IC markets.
The fabless model of semiconductor production has become increasingly popular as it allows companies to focus on IC design and avoid significant resource investments by sharing the existing manufacturing facilities of a third party. The market size of the global fabless IC design market, in terms of the sales revenue, increased from US$101.5 billion in 2017 to US$169.0 billion in 2021 at a CAGR of 13.6%, according to the F&S report. Due to the emergence of cutting-edge technologies, such as artificial intelligence, Internet-of-things and blockchain, the market size of the global fabless IC design market is expected to reach US$343.3 billion in 2026 at a CAGR of 15.2% between 2021 and 2026, according to the same source.
In the four months ended April 30, 2022, we recorded revenue of RMB175.6 million (US$27.5 million) and received total prepayments of RMB833.2 million (US$130.7 million) for pre-sale of our products. Such financial information is prepared by our management and is the responsibility of our management. Our independent registered public accounting firm, MaloneBailey, LLP, has not performed any audit or review of such financial information in accordance with any generally accepted auditing or review standards, or performed any other procedures with respect to such financial information.
**Note: Please read the “Risk Factors” in the prospectus. From the cover of the prospectus: “We are exposed to legal and operational risks associated with our operations in China. The PRC government has significant authority to exert influence on the ability of a company with operations in China, including us, to conduct its business. Changes in China’s economic, political or social conditions or government policies could materially and adversely affect our business and results of operations.”
**Note: Revenue and net loss figures in the table below are in U.S. dollars for the year ended Dec. 31, 2021, according to the prospectus.
(Note: Nano Labs Ltd. priced its IPO on July 11, 2022, at $11.50 – near the top of its $11.35-to-$11.51 range – on the 1.77 million American Depositary Shares (ADS) in its prospectus to raise $20.36 million. The ADS are set to start trading July 12, 2022, on the NASDAQ. Nano Labs Ltd. cut its IPO by 45 percent in an F-1/A filing dated July 5, 2022; the SEC published the filing after the market’s close: The IPO’s size was reduced to 1.77 million American Depositary Shares (ADS), down from 3.5 million ADS, and the price range was raised to $11.35 to $11.51, up from $9.50 to $11.50. The IPO’s estimated proceeds are now $20.23 million, down 45 percent from the $36.75 million under the previous terms. in Nano Labs Ltd. filed terms for its IPO in an F-1/A dated June 29, 2022: 3.5 million American Depositary Shares (ADS) at a price range of $9.50 to $11.50. Each ADS equals two Class A ordinary shares. Nano Labs filed its F-1 (prospectus) on June 10, 2022; confidential IPO paperwork was filed with the SEC on Sept. 9, 2021.)
|Industry:||Semiconductor - Integrated Circuit Design|
|Address||30th Floor, Dikaiyinzuo No. 29, East Jiefang Road, Hangzhou, Zhejiang People’s Republic of China|
|Phone Number||(86) 0571-8665 6957|
|View Prospectus:||Nano Labs Ltd.|
|Revenues||$6.19 mil (last 12 months)|
|Net Income||$-27.44 mil (last 12 months)|
|Price range||$11.50 - $11.50|
|Est. $ Volume||$20.4 mil|
|Manager / Joint Managers||AMTD Global Markets/ Maxim Group/ Tiger Brokers|
|Expected To Trade:||7/12/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|