0000950170-23-013293 | 20-F | XBRL Viewer

Parent - only financial statements

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

20.

Parent-only financial statements

The Company performed a test on the restricted net assets of the consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the parent company only.

The subsidiaries did not pay any dividend to the Company for the periods presented. Certain information and footnote disclosures generally included in the financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. These statements should be read in conjunction with the notes to the consolidated financial statements of the Company.

Basis of presentation

The financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investments in its subsidiaries.

The following represents condensed financial information of the parent company:


	As of December 31,
	2021			2022
	RMB			RMB			US$
ASSETS/(LIABILITIES)
Cash and cash equivalents		88,571			25,769			3,700
Short-term investments		31,878,500			—			—
Prepayments		374,120			—			—
Due from intercompany		168,505,129			380,321,338			54,607,780
Investment in subsidiaries		(225,380,481	)		(215,932,707	)		(31,004,323	)
Other payables		(127,514	)		—			—
TOTAL ASSETS (LIABILITIES)		(24,661,675	)		164,414,400			23,607,157
SHAREHOLDERS’ EQUITY (DEFICIT)
Shareholders’ equity (deficit):
Ordinary shares ($0.0001 par value; 500,000,000 and 200,000,000 shares authorized as of December 31, 2021 and December 31, 2022, respectively; 103,790,000 and nil shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively)		66,970			—			—
Class A ordinary shares ($0.0001 par value; 242,821,846 shares authorized; nil and 54,318,514 shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively)		—			35,425			5,086
Class B ordinary shares ($0.0001 par value; 57,178,154 shares authorized; nil and 57,178,154 shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively)		—			36,894			5,297
Additional paid-in capital		201,418,380			354,803,564			50,943,854
Accumulated deficit		(223,679,698	)		(199,207,921	)		(28,602,923	)
Statutory reserves		—			6,647,109			954,414
Accumulated other comprehensive income (loss)		(2,467,327	)		2,099,329			301,429
TOTAL NANO LABS LTD SHAREHOLDERS’ EQUITY (DEFICIT)		(24,661,675	)		164,414,400			23,607,157


	For the years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Net revenues		—			—			—			—
Operating expenses:
Selling and marketing expenses		—			980			—			—
General and administrative expenses		—			306,775			5,822,906			836,072
Total operating expenses		—			307,755			5,822,906			836,072
Loss from operations		—			(307,755	)		(5,822,906	)		(836,072	)
Finance income		—			—			66,144			9,497
Investment income		—			—			53,809			7,726
Income (loss) from investment in subsidiaries		(37,704,077	)		(174,636,729	)		36,821,839			5,287,000
Net income (loss) attributable to Nano Labs Ltd		(37,704,077	)		(174,944,484	)		31,118,886			4,468,151
Comprehensive income (loss):
Net income (loss)		(37,704,077	)		(174,944,484	)		31,118,886			4,468,151
Other comprehensive income (loss)
Foreign currency translation adjustment		—			(2,467,327	)		4,566,656			655,695
Total comprehensive income (loss) attributable to Nano Labs Ltd		(37,704,077	)		(177,411,811	)		35,685,542			5,123,846


	For the years ended December 31,
	2020		2021			2022
	RMB		RMB			RMB			US$
Net cash provided by (used in) operating activities		—		(535,017	)		3,911,561			561,635
Net cash used in investing activities		—		(201,554,446	)		(155,900,936	)		(22,384,765	)
Net cash provided by financing activities		—		201,251,124			144,043,186			20,682,191
Effect of exchange rate changes on cash and cash equivalents		—		926,910			7,883,387			1,131,921
Net increase (decrease) in cash and cash equivalents		—		88,571			(62,802	)		(9,018	)
Cash and cash equivalents at beginning of the year		—		—			88,571			12,718
Cash and cash equivalents at end of the year		—		88,571			25,769			3,700

Operating leases - Summary of Supplemental Disclosure Related to Operating Leases (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Paid For Amounts Measurement of Lease Liabilities [Abstract]
Operating cash flows for operating leases	¥ 5,822,406	¥ 5,068,864	¥ 335,162
Weighted average remaining lease term of operating leases (years)	1 year 7 months 24 days	1 year 10 months 9 days
Weighted average discount rate of operating leases	6.24%	6.24%

Parent - only financial statements - CONDENSED BALANCE SHEETS (Parenthetical) (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2021	Aug. 31, 2021	Jul. 31, 2021	May 31, 2021	Apr. 30, 2021	Mar. 31, 2021	Jan. 08, 2021
Ordinary shares, par value	$ 0.0001	$ 0.0001					$ 0.0001
Ordinary shares authorized	200,000,000	500,000,000							500,000,000
Ordinary shares issued	111,496,668	103,790,000	3,790,000	3,790,000	20,751,000	20,751,000		79,249,000
Ordinary shares outstanding	111,496,668	103,790,000
Class A Ordinary Shares
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	242,821,846	242,821,846
Ordinary shares issued	54,318,514
Ordinary shares outstanding	54,318,514
Class B Ordinary Shares
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	57,178,154	57,178,154
Ordinary shares issued	57,178,154
Ordinary shares outstanding	57,178,154
Parent Company
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	200,000,000	500,000,000
Ordinary shares issued	0	103,790,000
Ordinary shares outstanding	0	103,790,000
Parent Company \| Class A Ordinary Shares
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	242,821,846	242,821,846
Ordinary shares issued	54,318,514	0
Ordinary shares outstanding	54,318,514	0
Parent Company \| Class B Ordinary Shares
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	57,178,154	57,178,154
Ordinary shares issued	57,178,154	0
Ordinary shares outstanding	57,178,154	0

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

15.

Income Taxes

Cayman Islands

Under the current tax laws of Cayman Islands, the holding companies incorporated in the Cayman Islands are not subject to income, corporation or capital gains tax, and no withholding tax is imposed upon the payment of dividends.

British Virgin Islands

The holding companies incorporated in the British Virgin Islands are not subject to tax on income or capital gains under current British Virgin Islands law. In addition, upon payments of dividends by these entity to the shareholders, no British Virgin Islands withholding tax will be imposed.

Hong Kong

The Company’ subsidiaries incorporated in Hong Kong are subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 8.25% on assessable profits arising in or derived from Hong Kong up to HKD2,000,000 and 16.5% on any part of assessable profits over HKD2,000,000. These companies did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception.

USA

The Company’s subsidiary in USA is subject to profits tax at 21% statutory tax rate with respect to the profit generated from the USA. The company did not make any provisions for USA profit tax as there were no assessable profits derived from or earned in USA since inception.

Singapore

The company incorporated in Singapore is subject to Singapore Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Singapore tax laws. The applicable tax rate is 17% in Singapore, with 75% of the first SGD100,000 (approximately RMB470,000) and 50% of the next SGD100,000 (approximately RMB470,000) taxable income exempted from income tax. The company did not make any provisions for Singapore income tax as there were no assessable profits derived from or earned in Singapore since inception.

PRC

The Company’s subsidiaries incorporated in the PRC are subject to PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws. A new enterprise income tax law (the “EIT Law”) in the PRC was enacted and became effective on January 1, 2008. The EIT Law applies a uniform 25% enterprise income tax (“EIT”) rate to both foreign invested enterprises and domestic enterprises. Accordingly, the Company’s PRC subsidiaries are subject to the EIT rate of 25%. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for HNTE status every three years. Zhejiang Nanomicro obtained the “high-tech enterprise” tax status in December 2021, which reduced its statutory income tax rate to 15% from December 2021 to December 2024.

A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows:


	For the Years Ended December 31,
	2020			2021			2022
PRC statutory income tax rates		25.00	%		25.00	%		25.00	%
Effect of expenses not deductible for tax purposes		(0.38	)%		(0.22	)%		0.91	%
Effect of additional deduction of research and development expense		21.50	%		15.18	%		(64.43	)%
Effect of income tax exemptions and reliefs		0.02	%		(13.14	)%		(56.77	)%
Recovery from deferred income tax assets		0.00	%		0.00	%		(97.39	)%
Effect of valuation allowance on deferred income tax assets		(46.16	)%		(26.35	)%		171.26	%
Income tax difference under different tax jurisdictions		0.00	%		(0.47	)%		21.42	%
Total		(0.02	)%		0.00	%		0.00	%

The provision for income taxes consists of the following:


	For the Years Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Current income tax expense		2,293		—		—
Deferred tax expense		—		—		—
Income tax expense		2,293		—		—

Significant component of deferred tax assets are as follows:


	As of December 31,
	2021			2022
Net operating loss carryforward		53,517,161			63,038,127
Accrued expense and others		3,960,446			(29,335,373	)
Inventory impairment		5,004,834			47,198,866
Deferred tax assets		62,482,441			80,901,620
Less: valuation allowance		(62,482,441	)		(80,901,620	)
Deferred tax assets		—			—

The provision of valuation allowance for the years ended December 31, 2020, 2021 and 2022 were RMB16,396,474, RMB42,631,572 and RMB24,519,326, respectively. The reversal of valuation allowance for the years ended December 31, 2020, 2021 and 2022 were nil, nil, and RMB6,100,147, respectively.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of the Company’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences.

Uncertain tax positions

The tax authority of the PRC Government conducts periodic and ad hoc tax filing reviews on business enterprises operating in the PRC after those enterprises complete their relevant tax filings. In general, the PRC tax authority has up to five years to conduct examinations of the tax filings of the Company’s PRC entities. Accordingly, the PRC subsidiaries’ tax years of 2019 through 2021 remain open to examination by the respective tax authorities. It is therefore uncertain as to whether the PRC tax authority may take different views about the Company’s PRC entities’ tax filings, which may lead to additional tax liabilities.

The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31,2021 and 2022, the Company did not have any significant unrecognized uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Subsequent events	12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent events	19. Subsequent events The following subsequent events were evaluated on April 18, 2023, the date the financial statements were issued. Except as set forth below, there were no events that occurred subsequent to December 31, 2022 that require adjustment to or disclosure in the consolidated financial statements. In January 2023, the employee who holds options submitted an exercise notice and elected to exercise the vested options to purchase 166,666 ordinary shares of the Company with an exercise price of US$0.0002 per share. As of the date the financial statements were issued, the share issuance procedure is still under progress and the shares have not been issued to the employee yet. From January to April 2023, the Company borrowed approximately RMB26.7 million in total from Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co., Ltd under the credit line pledged by the land use right of the Company mentioned in Note 10. The additional borrowings bear an annual interest rate of 5.4% with repayment dates for parts of the loan ranging from June 20, 2023 to July 25, 2030.

Subsequent events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

Subsequent events

19.

Subsequent events

The following subsequent events were evaluated on April 18, 2023, the date the financial statements were issued. Except as set forth below, there were no events that occurred subsequent to December 31, 2022 that require adjustment to or disclosure in the consolidated financial statements.

In January 2023, the employee who holds options submitted an exercise notice and elected to exercise the vested options to purchase 166,666 ordinary shares of the Company with an exercise price of US$0.0002 per share. As of the date the financial statements were issued, the share issuance procedure is still under progress and the shares have not been issued to the employee yet.

From January to April 2023, the Company borrowed approximately RMB26.7 million in total from Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co., Ltd under the credit line pledged by the land use right of the Company mentioned in Note 10. The additional borrowings bear an annual interest rate of 5.4% with repayment dates for parts of the loan ranging from June 20, 2023 to July 25, 2030.

Share based compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Disclosure Of Compensation Related Costs Share Based Payments

12.

Share-based compensation

Restricted Stock Units (“RSUs”)

On January 31, 2020, Jianping Kong, principal shareholder, chairman and chief executive officer, granted, on behalf of Zhejiang Haowei, a total of 800,000 restricted shares of Zhejiang Haowei to its employees and directors, representing 8% of the equity interest of Zhejiang Haowei then. For these rewards, 33.3% will be vested on December 31, 2022 or one year after Zhejiang Haowei completed the initial public offering, whichever is earlier; 33.3% will be vested on December 31, 2023 or two years after Zhejiang Haowei completed the initial public offering, whichever is earlier; and 33.3% will be vested on December 31, 2024 or three years after Zhejiang Haowei completed the initial public offering, whichever is earlier.

On December 10, 2020, Jianping Kong, on behalf of Zhejiang Haowei, granted a total of 400,000 restricted shares of Zhejiang Haowei to its employees and directors, representing 4% of the equity interest of Zhejiang Haowei then. The restricted shares were fully vested at the grant date.

As part of the reorganization completed in September 2021, upon mutual agreement of Jianping Kong and the equity reward holders, the equity rewards of Zhejiang Haowei described above were replaced with restricted shares of the Company while maintaining the same percentage of equity interest held by each equity reward holder. No incremental fair value was recognized. A total of 9,272,131 restricted ordinary shares of Nano Labs were transferrable by Jianping Kong with the respective terms and vesting schedules unchanged.

On December 10, 2020, Zhejiang Haowei granted a total of 256,411 restricted shares to its employees and directors, representing 2.5% of the total equity interest of Zhejiang Haowei then. The restricted shares were fully vested at the grant date. As part of the reorganization completed in September 2021, the equity rewards granted by Zhejiang Haowei were replaced with restricted shares of the Company while maintaining the same percentage of equity interest held by each equity reward holder. No incremental fair value was recognized. 1,981,225 restricted ordinary shares of Nano Labs previously issued to and held by the original shareholders of Zhejiang Haowei on behalf of the respective equity reward holders were to be transferred with the terms and vesting schedules unchanged.

On November 1, 2021, the Board of the Company approved the establishment of an employee benefit trust for the purpose of holding the Company’s ordinary shares to be transferred to the recipient employees and directors of the incentive share awards. In January 2022, Jianping Kong and other original shareholders of Zhejiang Haowei transferred a total of 11,253,356 ordinary shares held by them on behalf of the respective equity reward holders to the employee benefit trust. All share awards described above will be transferred to recipient employees and directors from the employee benefit trust.

During the years ended December 31, 2020, 2021 and 2022, share-based compensation recognized by the Company related to the RSUs were RMB214,882, RMB19,344 and RMB17,863, respectively. As of December 31, 2021 and 2022, unrecognized compensation cost is RMB35,323 and RMB15,559, respectively, which is expected to be recognized over a weighted average period of 2 years and 1 year, respectively.

The following table summarized the RSUs activity and related information for the year ended December 31, 2022:


	Number of RSUs		Weighted Average Grant Date Fair Value (RMB)
Unvested, January 1, 2022		6,181,420		0.01
Granted	—		—
Forfeited		162,262		0.01
Vested		2,006,384		0.01
Unvested, December 31, 2022		4,012,774		0.01

Option

On January 1, 2022, the Company granted an employee an option to purchase 500,000 ordinary shares of the Company with an exercise price of US$0.0002 per share. The option granted has a contractual term of 10 years. For the reward, 33.3% will be vested on December 31, 2022 or one year after the Company completed the initial public offering, whichever is earlier; 33.3% will be vested on December 31, 2023 or two years after the Company completed the initial public offering, whichever is earlier; and 33.3% will be vested on December 31, 2024 or three years after the Company completed the initial public offering, whichever is earlier.

The option granted was valued using the binomial model with the assistance of an independent valuation firm using the management’s estimates and assumptions. Significant assumptions used in the valuation are set as below:



	January 1, 2022
Spot price on valuation date		US$4.80
Expected volatility		137.01	%
Risk-free interest rate		1.51	%
Dividend yield		0.00	%
Forfeiture rate		0.00	%

The following table summarizes the share option activity and related information for the year ended December 31, 2022:



	Number of Options		Weighted Average Exercise Price (RMB)		Weighted Average Remaining Term (Years)		Weighted Average Grant Date Fair Value (RMB)
Outstanding as of 1/1/2022		—		—		—		—
Granted		500,000		0.001		10.00		30.47
Forfeited		—		—		—		—
Exercised		—		—		—		—
Outstanding as of 12/31/2022		500,000		0.001		9.00		30.47
Vested and exercisable as of December 31, 2022		166,666

During the years ended December 31, 2020, 2021 and 2022, share-based compensation recognized by the Company related to the option were nil, nil and RMB9,329,484, respectively. The outstanding unamortized share-based compensation related to option was RMB5,887,864 (which will be recognized through December 2024) as of December 31, 2022.

2022 Share Incentive Plan

In June 2022, the Company adopted 2022 share incentive plan, or the 2022 Plan, which has become effective upon the completion of initial public offering in July 2022, to motivate, attract and retain the best available personnel, provide additional incentives to employees, directors and consultants, and promote the success of the business. Under the 2022 Plan, the maximum aggregate number of Class A ordinary shares which may be issued pursuant to all awards under such plan is 10,379,000, which constitutes 10% of the total issued and outstanding shares of the Company on a fully-diluted basis as of the date of adoption.

Long-term debts - Outstanding balances of long-term debts (Details)	Dec. 31, 2022 CNY (¥)
Debt Disclosure [Abstract]
2023	¥ 280,000
2024	420,000
2025	560,000
2026	700,000
2027	840,000
Thereafter	14,153,316
Total	¥ 16,953,316

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Reconciliation Between the Effective Income Tax Rate and PRC Statutory Income Tax Rate

A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows:


	For the Years Ended December 31,
	2020			2021			2022
PRC statutory income tax rates		25.00	%		25.00	%		25.00	%
Effect of expenses not deductible for tax purposes		(0.38	)%		(0.22	)%		0.91	%
Effect of additional deduction of research and development expense		21.50	%		15.18	%		(64.43	)%
Effect of income tax exemptions and reliefs		0.02	%		(13.14	)%		(56.77	)%
Recovery from deferred income tax assets		0.00	%		0.00	%		(97.39	)%
Effect of valuation allowance on deferred income tax assets		(46.16	)%		(26.35	)%		171.26	%
Income tax difference under different tax jurisdictions		0.00	%		(0.47	)%		21.42	%
Total		(0.02	)%		0.00	%		0.00	%

Schedule of Provision For Income Taxes

The provision for income taxes consists of the following:


	For the Years Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Current income tax expense		2,293		—		—
Deferred tax expense		—		—		—
Income tax expense		2,293		—		—

Schedule of Component of Deferred Tax Assets

Significant component of deferred tax assets are as follows:


	As of December 31,
	2021			2022
Net operating loss carryforward		53,517,161			63,038,127
Accrued expense and others		3,960,446			(29,335,373	)
Inventory impairment		5,004,834			47,198,866
Deferred tax assets		62,482,441			80,901,620
Less: valuation allowance		(62,482,441	)		(80,901,620	)
Deferred tax assets		—			—

Operating leases - Summary of the Maturity of Operating Lease Liabilities (Details)	Dec. 31, 2022 CNY (¥)
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2023	¥ 4,239,198
2024	2,542,911
Thereafter	0
Total lease payments	6,782,109
Less: imputed interest	(68,633)
Total lease liabilities	¥ 6,713,476

Inventories, net

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net consist of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Raw materials		61,673,722			69,914,306
Work in process		115,246,904			158,693,203
Finished goods		63,703,393			81,807,783
Less: write-down of inventories		(26,753,768	)		(208,213,546	)
Inventories, net		213,870,251			102,201,746

Prepayments (Tables)

12 Months Ended

Dec. 31, 2022

Prepaid Expense, Current [Abstract]

Schedule of Prepayments


	As of December 31,
	2021		2022
	RMB		RMB
Prepayments – inventories and processing fee		369,183,083		64,813,532
Prepayments – others		3,172,046		6,500,722
Prepayments		372,355,129		71,314,254

Commitments and Contigencies - Additional Information (Details) - Dec. 31, 2022	CNY (¥)	USD ($)
Loss Contingencies [Line Items]
Other Parties Demand of Return Payment \| $		$ 44,941,000
First Bank Account [Member]
Loss Contingencies [Line Items]
Frozen Amount \| ¥	¥ 48,112
Second Bank Account [Member]
Loss Contingencies [Line Items]
Frozen Amount \| ¥	¥ 324
Indemnification Agreement [Member]
Loss Contingencies [Line Items]
Other Parties Demand of Return Payment \| $		$ 1,680,527

Related party transactions - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Related Party Transaction [Line Items]
Proceeds from related parties	¥ 0	$ 0	¥ 0	¥ 30,255,000
Repayment to related parties	0	$ 0	(31,355,000)	(890,000)
Jianping Kong
Related Party Transaction [Line Items]
Proceeds from related parties				17,670,000
Repayment to related parties			19,270,000
Amount due to	0		0
Qifeng Sun
Related Party Transaction [Line Items]
Proceeds from related parties				12,085,000
Repayment to related parties			12,085,000
Amount due to	0		0
Yingying Jin
Related Party Transaction [Line Items]
Proceeds from related parties				500,000
Repayment to related parties				890,000
Amount due to	0		0
Hangzhou Weiditu Technology Co., Ltd.
Related Party Transaction [Line Items]
Amount due to	0		0
Amount lent to			100,000	2,270,000
Amount collected from			4,490,000	¥ 1,560,000
Related Party Transaction, Purchases from Related Party			328,411
Payment made in amount			5,045,392
Accounts payable - related party	¥ 0		¥ 0

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)	CNY (¥) shares	USD ($) shares	Common Stock CNY (¥) shares	Additional Paid In Capital CNY (¥)	Additional Paid In Capital USD ($)	Statutory Reserve CNY (¥)	Statutory Reserve USD ($)	Accumulated Deficit CNY (¥)	Accumulated Deficit USD ($)	Accumulated Other Comprehensive Loss CNY (¥)	Accumulated Other Comprehensive Loss USD ($)	Class A Ordinary Shares shares	Class A Ordinary Shares Common Stock CNY (¥) shares	Class A Ordinary Shares Common Stock USD ($) shares	Class B Ordinary Shares shares	Class B Ordinary Shares Common Stock CNY (¥) shares	Class B Ordinary Shares Common Stock USD ($) shares
Beginning Balance (shares) at Dec. 31, 2019 \| shares			79,249,000
Beginning Balance at Dec. 31, 2019	¥ (11,031,137)		¥ 51,135	¥ (51,135)				¥ (11,031,137)
Net Income (loss)	(37,704,077)							(37,704,077)
Share-based compensation	214,882			214,882
Ending Balance (shares) at Dec. 31, 2020 \| shares			79,249,000
Ending Balance at Dec. 31, 2020	(48,520,332)		¥ 51,135	163,747				(48,735,214)								¥ 0
Net Income (loss)	(174,944,484)							(174,944,484)
Share-based compensation	19,344			19,344												0
Issuance of ordinary shares for cash (Shares) \| shares			24,541,000
Issuance of ordinary shares for cash	201,199,989		¥ 15,835	201,184,154												0
Cash Contribution From Shareholders	51,135			51,135												0
Foreign currency translation adjustment	¥ (2,467,327)									¥ (2,467,327)
Ending Balance (shares) at Dec. 31, 2021 \| shares	103,790,000	103,790,000	103,790,000
Ending Balance at Dec. 31, 2021	¥ (24,661,675)		¥ 66,970	201,418,380				(223,679,698)		(2,467,327)						0
Net Income (loss)	31,118,886	$ 4,468,151						31,118,886
Share-based compensation	9,347,347			9,347,347												0
Foreign currency translation adjustment	4,566,656									4,566,656
Re-designation of ordinary shares to Class A and Class B ordinary shares immediately prior the completion of initial public offering			¥ (66,970)										¥ 30,076			¥ 36,894
Re-designation of ordinary shares to Class A and Class B ordinary shares immediately prior the completion of initial public offering, Shares \| shares			(103,790,000)										46,611,846	46,611,846		57,178,154	57,178,154
Share issuance initial public offering, net of issuance cost	111,939,400			111,937,012									¥ 2,388			¥ 0
Share issuance initial public offering, net of issuance cost, Shares \| shares													3,540,000	3,540,000
Share issuance following initial public offering, net of issuance cost	¥ 32,103,786			32,100,825									¥ 2,961			¥ 0
Share issuance following initial public offering, net of issuance cost, Shares \| shares													4,166,668	4,166,668
Transfer to reserve						¥ 6,647,109		(6,647,109)
Ending Balance (shares) at Dec. 31, 2022 \| shares	111,496,668	111,496,668										54,318,514	54,318,514	54,318,514	57,178,154	57,178,154	57,178,154
Ending Balance at Dec. 31, 2022	¥ 164,414,400	$ 23,607,157		¥ 354,803,564	$ 50,943,854	¥ 6,647,109	$ 954,414	¥ (199,207,921)	$ (28,602,923)	¥ 2,099,329	$ 301,429		¥ 35,425	$ 5,086		¥ 36,894	$ 5,297

Earning (loss) per share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earning (loss) per share

14.

Earnings (loss) per share

The calculation of basic earnings (loss) per share is based on the income (loss) attributable to ordinary shareholders of the Company and weighted-average number of ordinary shares outstanding for the years ended December 31, 2020, 2021 and 2022.

Diluted earnings (loss) per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the respective periods.

The following reflects the income and share data used in the basic and diluted earnings (loss) per ordinary share computations:


	For the years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Earnings (loss) attributable to ordinary shareholders of the Company		(37,704,077	)		(174,944,484	)		31,118,886
Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation		79,249,000			89,877,975			106,488,996
Basic earnings (loss) per share		(0.48	)		(1.95	)		0.29

Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation		(37,704,077	)		(174,944,484	)		31,118,886
Weighted average number of ordinary shares outstanding diluted earnings (loss) per share calculation		79,249,000			89,877,975			106,488,996
Adjusted for:
- incremental shares issuable related to options issued		—			—			126,214
Weighted average number of shares outstanding for diluted earnings (loss) per share calculation		79,249,000			89,877,975			106,615,210
Diluted earnings (loss) per share		(0.48	)		(1.95	)		0.29

Parent - only financial statements (Tables) - Parent Company

12 Months Ended

Dec. 31, 2021

Condensed Financial Statements, Captions [Line Items]

CONDENSED BALANCE SHEETS

NANO LABS LTD

CONDENSED BALANCE SHEETS

(all amounts in RMB and US$, except number of shares or as otherwise noted)


	As of December 31,
	2021			2022
	RMB			RMB			US$
ASSETS/(LIABILITIES)
Cash and cash equivalents		88,571			25,769			3,700
Short-term investments		31,878,500			—			—
Prepayments		374,120			—			—
Due from intercompany		168,505,129			380,321,338			54,607,780
Investment in subsidiaries		(225,380,481	)		(215,932,707	)		(31,004,323	)
Other payables		(127,514	)		—			—
TOTAL ASSETS (LIABILITIES)		(24,661,675	)		164,414,400			23,607,157
SHAREHOLDERS’ EQUITY (DEFICIT)
Shareholders’ equity (deficit):
Ordinary shares ($0.0001 par value; 500,000,000 and 200,000,000 shares authorized as of December 31, 2021 and December 31, 2022, respectively; 103,790,000 and nil shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively)		66,970			—			—
Class A ordinary shares ($0.0001 par value; 242,821,846 shares authorized; nil and 54,318,514 shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively)		—			35,425			5,086
Class B ordinary shares ($0.0001 par value; 57,178,154 shares authorized; nil and 57,178,154 shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively)		—			36,894			5,297
Additional paid-in capital		201,418,380			354,803,564			50,943,854
Accumulated deficit		(223,679,698	)		(199,207,921	)		(28,602,923	)
Statutory reserves		—			6,647,109			954,414
Accumulated other comprehensive income (loss)		(2,467,327	)		2,099,329			301,429
TOTAL NANO LABS LTD SHAREHOLDERS’ EQUITY (DEFICIT)		(24,661,675	)		164,414,400			23,607,157

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

NANO LABS LTD

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(all amounts in RMB and US$, except number of shares or as otherwise noted)


	For the years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Net revenues		—			—			—			—
Operating expenses:
Selling and marketing expenses		—			980			—			—
General and administrative expenses		—			306,775			5,822,906			836,072
Total operating expenses		—			307,755			5,822,906			836,072
Loss from operations		—			(307,755	)		(5,822,906	)		(836,072	)
Finance income		—			—			66,144			9,497
Investment income		—			—			53,809			7,726
Income (loss) from investment in subsidiaries		(37,704,077	)		(174,636,729	)		36,821,839			5,287,000
Net income (loss) attributable to Nano Labs Ltd		(37,704,077	)		(174,944,484	)		31,118,886			4,468,151
Comprehensive income (loss):
Net income (loss)		(37,704,077	)		(174,944,484	)		31,118,886			4,468,151
Other comprehensive income (loss)
Foreign currency translation adjustment		—			(2,467,327	)		4,566,656			655,695
Total comprehensive income (loss) attributable to Nano Labs Ltd		(37,704,077	)		(177,411,811	)		35,685,542			5,123,846

CONDENSED STATEMENTS OF CASH FLOWS

NANO LABS LTD

CONDENSED STATEMENTS OF CASH FLOWS

(all amounts in RMB and US$, except number of shares or as otherwise noted)


	For the years ended December 31,
	2020		2021			2022
	RMB		RMB			RMB			US$
Net cash provided by (used in) operating activities		—		(535,017	)		3,911,561			561,635
Net cash used in investing activities		—		(201,554,446	)		(155,900,936	)		(22,384,765	)
Net cash provided by financing activities		—		201,251,124			144,043,186			20,682,191
Effect of exchange rate changes on cash and cash equivalents		—		926,910			7,883,387			1,131,921
Net increase (decrease) in cash and cash equivalents		—		88,571			(62,802	)		(9,018	)
Cash and cash equivalents at beginning of the year		—		—			88,571			12,718
Cash and cash equivalents at end of the year		—		88,571			25,769			3,700

Intangible Asset, Net (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Asset, Net

Intangible asset, net consists of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Cost:
Land use right		—			49,292,208
Franchise right		334,865			334,865
Less: Accumulated amortization		(334,865	)		(909,941	)
Intangible asset, net		—			48,717,132

Estimated amortization expense

As of December 31, 2022, the future estimated amortization expenses are as below.


	Estimated amortization expense
Years ended December 31,	RMB
2023		985,844
2024		985,844
2025		985,844
2026		985,844
2027		985,844
Thereafter		43,787,912
Total		48,717,132

Long-term debts

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-term debts

10.

Long-term debts

On August 11, 2022, the Company entered into a line of credit agreement with Zhejiang Shaoxing Ruifeng Rural Commercial Bank for a credit line up to RMB100,000,000 with a due date on July 25, 2030. During the year ended December 31, 2022, the Company borrowed RMB17,093,316 under the credit line and repaid RMB140,000. The loans bear an annual interest rate of 5.4% with repayment dates for parts of the loan ranging from September 20, 2022 to July 25, 2030. The loans are pledged by the land use right of the Company (mentioned in Note 7).

As of December 31, 2022, the future maturities of long-term debts are as below:


As of December 31,	RMB
2023		280,000
2024		420,000
2025		560,000
2026		700,000
2027		840,000
Thereafter		14,153,316
Total		16,953,316

Shareholders equity (deficit) - Additional Information (Details)			1 Months Ended			2 Months Ended		3 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Jul. 14, 2022 USD ($) $ / shares shares	Aug. 31, 2021 CNY (¥) shares	Aug. 31, 2021 USD ($) shares	Apr. 30, 2021 $ / shares	May 31, 2021 CNY (¥) shares	May 31, 2021 USD ($) shares	Mar. 31, 2021 USD ($) shares	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Jul. 12, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Nov. 30, 2021 shares	Jul. 31, 2021 shares	Jan. 08, 2021 USD ($) shares
Subsidiary, Sale of Stock [Line Items]
Description of the shares subdivision											On January 8, 2021, Nano Labs Ltd was incorporated in the Cayman Islands. In April 2021, the Board of the Company approved a one-for-10,000 shares subdivision, following which the authorized share capital of US$50,000 was divided into 500,000,000 ordinary shares with a par value of US$0.0001 each.In January and March 2021, the Company issued ordinary shares, which equivalent to a total of 79,249,000 ordinary shares after the reorganization, to six original shareholders of Zhejiang Haowei with cash proceeds of US$7,925. In April and May 2021, the Company entered into agreements with fourteen new shareholders to issue a total of 20,751,000 ordinary shares for total cash proceeds of RMB 81,000,000 (approximately US$12,600,000). In July 2021, the total of 20,751,000 ordinary shares were issued and the proceeds had been fully collected as of December 31, 2021. In August 2021, the Company entered into agreements with six new shareholders to issue a total of 3,790,000 ordinary shares for total consideration of US$18,950,000 (approximately RMB122,300,000). In November 2021, the total of 3,790,000 shares were issued and the proceeds had been fully collected as of December 31, 2021. Immediately prior to the completion of the initial public offering (“IPO”) on July 12, 2022, the Company adopted a dual-class share structure, consisting of Class A ordinary shares and Class B ordinary shares, with par value of US$0.0001 per share. 57,178,154 ordinary shares, beneficially owned by Mr. Jianping Kong and Mr. Qifeng Sun, the founders of the Company, were re-designated into Class B ordinary shares on a one-for-one basis, and the remaining 46,611,846 ordinary shares were re-designated into Class A ordinary shares on a one-for-one basis.Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to 15 votes per share. Each Class B ordinary share is convertible at any time into one Class A ordinary share, while Class A ordinary shares are not convertible into Class B ordinary shares.On July 14, 2022, the Company completed the IPO with new issuance of totaling 1,770,000 ADSs representing 3,540,000 Class A ordinary shares at a price of US$11.50 per ADS or US$5.75 per ordinary share for gross proceeds of approximately US$20.4 million. The Company received all the net proceeds of approximately US$16.6 million after deducting underwriting discounts and commissions and other offering expenses by July 14, 2022. On September 30, 2022, the Company completed the supplemental offering with new issuance of totaling 2,083,334 ADSs representing 4,166,668 Class A ordinary shares at price of US$2.40 per ADS or US$1.20 per share for gross proceeds of approximately US$5.0 million. The Company received all the net proceeds of approximately US$4.5 million after deducting underwriting discounts and commissions and other offering expenses by October 5, 2022. As of December 31, 2021 and 2022, there were 103,790,000 and 111,496,668 ordinary shares issued and outstanding, respectively.
Share ratio					0.00010
Ordinary shares authorized										200,000,000				500,000,000			500,000,000
Proceeds from issuance of common stock			¥ 122,300,000	$ 18,950,000		¥ 81,000,000	$ 12,600,000	$ 7,925	¥ 144,043,186	$ 20,682,191	¥ 201,199,989	¥ 0
Proceeds from issuance of ordinary shares			¥ 122,300,000	$ 18,950,000		¥ 81,000,000	$ 12,600,000	$ 7,925	144,043,186	$ 20,682,191	201,199,989	0
Authorized share capital \| $																	$ 50,000
Ordinary shares, par value \| $ / shares					$ 0.0001					$ 0.0001				$ 0.0001
Ordinary shares issued			3,790,000	3,790,000		20,751,000	20,751,000	79,249,000		111,496,668				103,790,000	3,790,000	20,751,000
Ordinary shares outstanding										111,496,668				103,790,000
Cash proceeds			¥ 122,300,000	$ 18,950,000		¥ 81,000,000	$ 12,600,000	$ 7,925	¥ 144,043,186	$ 20,682,191	¥ 201,199,989	¥ 0
Class A Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Ordinary shares authorized										242,821,846				242,821,846
Ordinary shares, par value \| $ / shares										$ 0.0001				$ 0.0001
Ordinary shares issued										54,318,514
Ordinary shares outstanding										54,318,514
Class A Ordinary Shares \| American Depositary Shares (ADS)
Subsidiary, Sale of Stock [Line Items]
Issuance of ordinary shares for cash (Shares)		3,540,000
Class B Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Ordinary shares authorized										57,178,154				57,178,154
Ordinary shares, par value \| $ / shares										$ 0.0001				$ 0.0001
Ordinary shares issued										57,178,154
Ordinary shares outstanding										57,178,154
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from Issuance Initial Public Offering \| $		$ 16,600,000
IPO [Member] \| American Depositary Shares (ADS)
Subsidiary, Sale of Stock [Line Items]
Issuance of ordinary shares for cash (Shares)		1,770,000
Sale of stock, price per share \| $ / shares		$ 11.50
IPO [Member] \| Class A Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Ordinary shares outstanding													46,611,846
IPO [Member] \| Class A Ordinary Shares \| American Depositary Shares (ADS)
Subsidiary, Sale of Stock [Line Items]
Proceeds from Issuance Initial Public Offering \| $		$ 20,400,000
Sale of stock, price per share \| $ / shares		$ 5.75
IPO [Member] \| Class B Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Ordinary shares, par value \| $ / shares													$ 0.0001
Ordinary shares outstanding													57,178,154
supplemental offering [Member]
Subsidiary, Sale of Stock [Line Items]
Net proceeds from sale of stock \| $	$ 4,500,000
supplemental offering [Member] \| American Depositary Shares (ADS)
Subsidiary, Sale of Stock [Line Items]
Issuance of ordinary shares for cash (Shares)	2,083,334
supplemental offering [Member] \| Class A Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Sale of stock, price per share \| $ / shares	$ 1.20
supplemental offering [Member] \| Class A Ordinary Shares \| American Depositary Shares (ADS)
Subsidiary, Sale of Stock [Line Items]
Issuance of ordinary shares for cash (Shares)	4,166,668
Proceeds from issuance of common stock \| $	$ 5,000,000.0
Proceeds from issuance of ordinary shares \| $	$ 5,000,000.0
Sale of stock, price per share \| $ / shares	$ 2.40
Cash proceeds \| $	$ 5,000,000.0

Prepayments

12 Months Ended

Dec. 31, 2022

Prepaid Expense, Current [Abstract]

Prepayments


	As of December 31,
	2021		2022
	RMB		RMB
Prepayments – inventories and processing fee		369,183,083		64,813,532
Prepayments – others		3,172,046		6,500,722
Prepayments		372,355,129		71,314,254

Organization and Nature of Operations

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Operations

Organization and nature of operations

Nano Labs Ltd (“Nano Labs”), incorporated on January 8, 2021, is a holding company, as an exempted company with limited liability in the Cayman Islands. Nano Labs principally engages in fabless integrated circuit (“IC”) design and sale of product solutions by integrating its self-designed IC products in the People’s Republic of China (“PRC”) and other countries and regions. The Company utilizes third-party suppliers to fabricate, pack and test the IC products.

Prior to the incorporation of the Company, the Company’s business was carried out by Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”) and its subsidiaries. Zhejiang Haowei was established by Mr. Jianping Kong, the principal shareholder, chairman and chief executive officer, in July 2019. Nano Labs underwent a series of onshore and offshore reorganizations, which were completed in September 2021 (the “Reorganization”).

Immediately before and after the Reorganization, the controlling shareholders of Zhejiang Haowei controlled Zhejiang Haowei and Nano Labs; therefore, for accounting purposes, the Reorganization is accounted for as a transaction of entities under common control. Accordingly, the accompanying consolidated financial statements have been prepared as if the current corporate structure had been in existence throughout the periods presented. The number of outstanding shares in the consolidated balance sheets, the consolidated statements of changes in shareholders’ equity (deficit,) and per share information including the net income (loss) per ordinary share have been presented retrospectively as of the beginning of the earliest period presented on the consolidated financial statements to reflect the final shares issued in the Reorganization.

The Company does not conduct any substantive operations on its own but instead conducts its business operations through its subsidiaries. As of the date of this report, the Company’s major subsidiaries are as follows:


Name of subsidiaries	Date of incorporation	Place of incorporation	Ownership percentage	Principal activities
Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”)	July 16, 2019	Hangzhou, China	100%	Research and development of ICs
Zhejiang Nanomicro Technology Co., Ltd. (“Zhejiang Nanomicro”)	July 16, 2019	Hangzhou, China	100%	Research and development of ICs
Zhejiang NanoBlock Technology Co., Ltd.	July 16, 2019	Hangzhou, China	100%	Research and development of ICs
Zhejiang Ipollo Technology Co., Ltd.	August 18, 2020	Hangzhou, China	100%	Distribution of products
Nano Labs HK Limited	September 8, 2020	Hong Kong	100%	Investment
Nano Labs Inc	December 22, 2020	BVI	100%	Investment


Name of subsidiaries	Date of incorporation	Place of incorporation	Ownership percentage	Principal activities
Zhejiang Weike Technology Co., Ltd.	June 2, 2021	Hangzhou, China	100%	Research and development of software
IPOLLO PTE. LTD. (formerly IPOLLO MINER PTE.LTD.)	June 9, 2021	Singapore	100%	Distribution of products
Ipollo Tech Inc	June 29, 2021	BVI	100%	Investment
Nano Tech Cayman Ltd	July 6, 2021	Cayman	100%	Investment
Nano Technology HK Limited	July 7, 2021	Hong Kong	100%	Investment
Ipollo HK Limited	July 7, 2021	Hong Kong	100%	Distribution of products
Zhejiang Metaverse Technology Co., Ltd.	August 12, 2021	Hangzhou, China	100%	Investment
Ipollo Tech Ltd	October 27, 2021	Cayman	100%	Investment
Haowei Technology (Shaoxing) Co., Ltd.	November 3, 2021	Shaoxing, China	100%	Investment
Shenzhen Matamata Technology Co., Ltd.	November 17, 2021	Shenzhen, China	100%	Distribution of products
Shenzhen Matavos Technology Co., Ltd.	December 21, 2021	Shenzhen, China	100%	Distribution of products
Tsuki Inc	January 7, 2022	United States	100%	Distribution of products
Metaski (Shaoxing) Technology Co., Ltd.	January 13, 2022	Shaoxing, China	100%	Distribution of products
Haoweiverse (Shaoxing) Technology Co., Ltd.	January 13, 2022	Shaoxing, China	65%	Plant and distribution of products
Metameta (Shaoxing) Technology Co., Ltd.	January 25, 2022	Shaoxing, China	100%	Distribution of products
Ipolloverse HK Limited	May 18, 2022	Hong Kong	70%	Research and development
Metaverse (Shaoxing) Technology Co., Ltd.	May 20, 2022	Shaoxing, China	100%	Distribution of products
Ipolloverse Cayman Ltd	May 27, 2022	Cayman	70%	Investment
Ipolloverse Tech Inc	May 30, 2022	BVI	70%	Investment
Hangzhou Meta Technology Co., Ltd.	October 21, 2022	Hangzhou, China	100%	Distribution of products

Nano Labs and its consolidated subsidiaries are collectively referred to herein as the “Company”, “we” and “us”, unless specific reference is made to an entity.

Concentration (Tables)

12 Months Ended

Dec. 31, 2022

Product Information [Line Items]

Schedule of Concentration Risk, Customer

The following table sets forth information as to each customer that accounted for 10% or more of the Company’s revenues for the years ended December 31, 2020, 2021 and 2022:


	For the Years Ended December 31,
	2020			2021			2022
Customer A		47	%		59	%		—
Customer B		22	%		—			—
Customer C		14	%		—			—
Customer D		—			15	%		—

Supplier Concentration [Member]

Product Information [Line Items]

Schedule of Concentration Risk, Customer

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchase for the years ended December 31, 2020, 2021 and 2022:


	For the Years Ended December 31,
	2020			2021			2022
Supplier A		38	%		—			—
Supplier B		36	%		—			—
Supplier C		—			50	%		32	%
Supplier D		—			34	%		—
Supplier E		—			13	%		23	%

Income Taxes - Significant Component of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets, Net [Abstract]
Net operating loss carryforward	$ 63,038,127	$ 53,517,161
Accrued expense and others	29,335,373	3,960,446
Inventory impairment	47,198,866	5,004,834
Deferred tax assets, Gross	80,901,620	62,482,441
Less: valuation allowance	(80,901,620)	(62,482,441)
Deferred tax assets, Net	$ 0	$ 0

Operating leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Components of Lease Cost

The following component of lease cost are included in the Company’s consolidated statements of operations and comprehensive income (loss):


	For the year ended December 31, 2020		For the year ended December 31, 2021		For the year ended December 31, 2022
	RMB		RMB		RMB
Operating lease cost		389,799		3,277,780		11,385,312
Short-term lease cost		48,000		1,867,850		295,564
Total lease cost		437,799		5,145,630		11,680,876

Summary of Supplemental Disclosure Related to Operating Leases

Supplemental disclosure related to operating leases were as follows:


	For the year ended December 31, 2020		For the year ended December 31, 2021			For the year ended December 31, 2022
	RMB		RMB			RMB
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases		335,162		5,068,864			5,822,406

			As of December 31, 2021			As of December 31, 2022
Weighted average remaining lease term of operating leases (years)				1.86			1.65
Weighted average discount rate of operating leases				6.24	%		6.24	%

Summary of Maturity of Operating Lease Liabilities

The following table summarizes the maturity of operating lease liabilities as of December 31, 2022:


As of December 31,	2022
	RMB
2023		4,239,198
2024		2,542,911
Thereafter		—
Total lease payments		6,782,109
Less: imputed interest		(68,633	)
Total lease liabilities		6,713,476

CONSOLIDATED STATEMENTS OF CASHFLOWS	12 Months Ended
CONSOLIDATED STATEMENTS OF CASHFLOWS	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash flows from operating activities
Net income (loss)	¥ 31,118,886	$ 4,468,151	¥ (174,944,484)	¥ (37,704,077)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of right-of-use assets	5,505,422	790,486	2,920,433	269,315
Depreciation and amortization expenses	3,928,131	564,014	2,609,699	353,557
Gain on lease termination	0	0	(12,088)	0
Share-based compensation	9,347,347	1,342,123	19,344	214,882
Inventory write-down	184,073,191	26,429,830	26,753,768	0
Changes in assets and liabilities:
Accounts receivable, net	0	0	1,165,716	(1,165,716)
Inventories, net	(71,446,484)	(10,258,519)	(233,385,726)	(7,238,293)
Prepayments	304,300,103	43,692,401	(364,369,453)	(2,126,527)
Other current assets	51,740,635	7,429,089	(38,564,595)	(2,575,074)
Accounts payable	10,591,202	1,520,719	1,937,951	390,152
Accounts payable - related party	0	0	(4,716,981)	0
Advance from customers	(794,302,470)	(114,048,541)	851,987,235	45,033,520
Other payables	(19,683,959)	(2,826,287)	(175,721)	168,553
Operating lease liabilities, current	(5,330,448)	(765,363)	(4,687,184)	(302,256)
Other current liabilities	15,217,655	2,185,001	5,194,954	1,654,065
Net cash provided by (used in) operating activities	(274,940,789)	(39,476,896)	71,732,868	(3,027,899)
Cash flow from investing activities:
Purchases of property, plant and equipment	(17,531,162)	(2,517,181)	(8,692,683)	(936,776)
Refund of prepayment for property, plant and equipment	0	0	550,000	0
Purchases of short-term investment	0	0	(32,293,440)	0
Proceeds from sales of short-term investments	33,640,500	4,830,213	0	0
Purchases of intangible assets	(49,292,208)	(7,077,536)	0	0
Loan provided to a related party	0	0	(100,000)	(2,270,000)
Collection of loan provided to a related party	0	0	4,490,000	1,560,000
Net cash used in investing activities	(33,182,870)	(4,764,504)	(36,046,123)	(1,646,776)
Cash flow from financing activities:
Proceeds from related parties	0	0	0	30,255,000
Repayment to related parties	0	0	(31,355,000)	(890,000)
Proceeds from issuance of ordinary shares	144,043,186	20,682,191	201,199,989	0
Cash contribution from shareholders	0	0	51,135	0
Proceeds from long-term debts	17,093,316	2,454,314	0	0
Repayments of long-term debts	(140,000)	(20,102)	0	0
Repayment of loan payable	0	0	(5,000,000)	0
Net cash provided by financing activities	160,996,502	23,116,403	164,896,124	29,365,000
Effects of exchange rate changes on cash, cash equivalents and restricted cash	1,132,887	162,663	(2,062,387)	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(145,994,270)	(20,962,334)	198,520,482	24,690,325
Cash, cash equivalents and restricted cash at beginning of the year	233,853,654	33,577,471	35,333,172	10,642,847
Cash, cash equivalents and restricted cash at end of the year	87,859,384	12,615,137	233,853,654	35,333,172
Supplemental cash flow disclosures:
Interest paid	180,619	25,934	0	0
Income taxes paid	89,169	12,803	276,186	2,336
Non-cash investing and financing activities:
Operating lease right-of-use asset obtained in exchange for operating lease liability	¥ 4,557,092	$ 654,322	¥ 0	¥ 0

Share based compensation - Schedule of Summary of Share Option Activity (Details)			12 Months Ended
	Jan. 01, 2022 ¥ / shares shares	Jan. 01, 2022 $ / shares shares	Dec. 31, 2022 ¥ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Options Outstanding as of 1/1/2022 \| shares	0	0	0
Number of Options, Granted \| shares	500,000	500,000	500,000
Number of Options, Forfeited \| shares			0
Number of Options, Exercised \| shares			0
Number of Options Outstanding as of 12/31/2022 \| shares			500,000
Vested and exercisable as of December 31, 2022 \| shares			166,666
Weighted Average Exercise Price Outstanding as of 1/1/2022 \| ¥ / shares	¥ 0		¥ 0
Weighted Average Exercise Price, Granted \| (per share)		$ 0.0002	0.001
Weighted Average Exercise Price, Forfeited \| ¥ / shares			0
Weighted Average Exercise Price, Exercised \| ¥ / shares			0
Weighted Average Exercise Price, Outstanding as of 12/31/2022 \| ¥ / shares			¥ 0.001
Weighted Average Remaining Term, Granted	10 years	10 years	10 years
Weighted Average Remaining Term Outstanding as of 12/31/2022			9 years
Weighted Average Grant Date Fair Value, Granted \| ¥ / shares			¥ 30.47
Weighted Average Grant Date Fair Value Unvested, December 31, 2022 \| ¥ / shares			¥ 30.47

Inventories, net - Schedule of Inventories, Net (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Inventory Disclosure [Abstract]
Raw materials	¥ 69,914,306		¥ 61,673,722
Work in progress	158,693,203		115,246,904
Finished goods	81,807,783		63,703,393
Less: write-down of inventories	(208,213,546)		(26,753,768)
Inventories, net	¥ 102,201,746	$ 14,674,460	¥ 213,870,251

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Property and Equipment

The estimated useful lives are as follows:


Computers and electronic equipment		2 to 3 years
Office furniture		5 years
Transportation equipment		4 years

Schedule of Estimated Useful Lives of Intangible Assets


Franchise right		2 years
Land use right		50 years

Disaggregation of Revenue

The following table summarizes the net revenues generated from different revenue streams:


	For the Years Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Product sales revenue		2,004,074		39,440,897		920,653,911
Service revenue		122,602		—		62,514,987
Net revenues		2,126,676		39,440,897		983,168,898

Share based compensation - Additional Information (Details)			1 Months Ended	12 Months Ended
	Jan. 01, 2022 $ / shares shares	Dec. 10, 2020 shares	Jan. 31, 2020 shares	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Jan. 31, 2022 shares	Sep. 30, 2021 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of vested				33.30%	33.30%	33.30%	33.30%
Number of Options, Granted	500,000					500,000	500,000
Share-based compensation						¥ 9,347,347	$ 1,342,123	¥ 19,344	¥ 214,882
Share-based compensation related to option \| ¥						9,329,484
Unrecognized compensation cost \| ¥						¥ 5,887,864
Employee stock options, granted	500,000					500,000	500,000
Exercise price \| (per share)	$ 0.0002					¥ 0.001
Contractual term	10 years					10 years	10 years
Reward vested date				3 years	2 years	1 year	1 year
2022 Share Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted ordinary shares of share based compensation						10,379,000	10,379,000
Total issued and outstanding shares percentage						10.00%	10.00%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average period								2 years
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average period						1 year	1 year
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation \| ¥						¥ 17,863		¥ 19,344	¥ 214,882
Unrecognized compensation cost \| ¥						¥ 15,559		¥ 35,323
Zhejiang Haowei Member
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of equity interest		2.50%
Percentage of vested				33.30%	33.30%	33.30%	33.30%
Number of Options, Granted		256,411
Restricted ordinary shares		1,981,225
Ordinory shares										11,253,356
Employee stock options, granted		256,411
Zhejiang Haowei Member \| Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of equity interest		4.00%	8.00%
Number of Options, Granted		400,000	800,000
Employee stock options, granted		400,000	800,000
Jianping Kong [Member] \| Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted ordinary shares											9,272,131

Concentrations - Schedule of supplier (Details) - Purchase [Member] - Supplier Concentration [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplier A [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	0.00%	38.00%
Supplier B [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	0.00%	36.00%
Supplier C [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	32.00%	50.00%	0.00%
Supplier D [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	34.00%	0.00%
Supplier E [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	23.00%	13.00%	0.00%

Organization and nature of operations - Schedule of Major Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2022
Zhejiang Haowei Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jul. 16, 2019
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Research and development of ICs
Zhejiang Nanomicro Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jul. 16, 2019
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Research and development of ICs
Zhejiang NanoBlock Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jul. 16, 2019
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Research and development of ICs
Zhejiang Ipollo Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Aug. 18, 2020
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Distribution of products
Nano Labs HK Limited
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Sep. 08, 2020
Place of incorporation	Hong Kong
Ownership percentage	100.00%
Principal activities	Investment
Nano Labs Inc
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Dec. 22, 2020
Place of incorporation	BVI
Ownership percentage	100.00%
Principal activities	Investment
Zhejiang Weike Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jun. 02, 2021
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Research and development of software
IPOLLO PTE LTD
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jun. 09, 2021
Place of incorporation	Singapore
Ownership percentage	100.00%
Principal activities	Distribution of products
Ipollo Tech Inc
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jun. 29, 2021
Place of incorporation	BVI
Ownership percentage	100.00%
Principal activities	Investment
Nano Technology HK Limited
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jul. 07, 2021
Place of incorporation	Hong Kong
Ownership percentage	100.00%
Principal activities	Investment
Ipollo HK Limited
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jul. 07, 2021
Place of incorporation	Hong Kong
Ownership percentage	100.00%
Principal activities	Distribution of products
Nano Tech Cayman Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jul. 06, 2021
Place of incorporation	Cayman
Ownership percentage	100.00%
Principal activities	Investment
Zhejiang Metaverse Technology
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Aug. 12, 2021
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Investment
Ipollo Tech Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Oct. 27, 2021
Place of incorporation	Cayman
Ownership percentage	100.00%
Principal activities	Investment
Haowei Technology (Shaoxing) Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Nov. 03, 2021
Place of incorporation	Shaoxing, China
Ownership percentage	100.00%
Principal activities	Investment
Shenzhen Matamata Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Nov. 17, 2021
Place of incorporation	Shenzhen, China
Ownership percentage	100.00%
Principal activities	Distribution of products
Shenzhen Matavos Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Dec. 21, 2021
Place of incorporation	Shenzhen, China
Ownership percentage	100.00%
Principal activities	Distribution of products
Haoweiverse (Shaoxing) Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jan. 13, 2022
Place of incorporation	Shaoxing, China
Ownership percentage	65.00%
Principal activities	Plant and distribution of products
Metaski (Shaoxing) Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jan. 13, 2022
Place of incorporation	Shaoxing, China
Ownership percentage	100.00%
Principal activities	Distribution of products
Metameta (Shaoxing) Technology Co Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Jan. 25, 2022
Place of incorporation	Shaoxing, China
Ownership percentage	100.00%
Principal activities	Distribution of products
Ipolloverse HK Limited
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	May 18, 2022
Place of incorporation	Hong Kong
Ownership percentage	70.00%
Principal activities	Research and development
Metaverse (Shaoxing) Technology Co. Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	May 20, 2022
Place of incorporation	Shaoxing, China
Ownership percentage	100.00%
Principal activities	Distribution of products
Ipolloverse Cayman Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	May 27, 2022
Place of incorporation	Cayman
Ownership percentage	70.00%
Principal activities	Investment
Ipolloverse Tech Inc
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	May 30, 2022
Place of incorporation	BVI
Ownership percentage	70.00%
Principal activities	Investment
Tsuki Inc
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Oct. 10, 2022
Place of incorporation	United States
Ownership percentage	100.00%
Principal activities	Distribution of products
Hangzhou Meta Technology Co., Ltd
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of incorporation	Oct. 21, 2022
Place of incorporation	Hangzhou, China
Ownership percentage	100.00%
Principal activities	Distribution of products

Organization and Nature of Operations (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Major Subsidiaries


Name of subsidiaries	Date of incorporation	Place of incorporation	Ownership percentage	Principal activities
Zhejiang Haowei Technology Co., Ltd. (“Zhejiang Haowei”)	July 16, 2019	Hangzhou, China	100%	Research and development of ICs
Zhejiang Nanomicro Technology Co., Ltd. (“Zhejiang Nanomicro”)	July 16, 2019	Hangzhou, China	100%	Research and development of ICs
Zhejiang NanoBlock Technology Co., Ltd.	July 16, 2019	Hangzhou, China	100%	Research and development of ICs
Zhejiang Ipollo Technology Co., Ltd.	August 18, 2020	Hangzhou, China	100%	Distribution of products
Nano Labs HK Limited	September 8, 2020	Hong Kong	100%	Investment
Nano Labs Inc	December 22, 2020	BVI	100%	Investment


Name of subsidiaries	Date of incorporation	Place of incorporation	Ownership percentage	Principal activities
Zhejiang Weike Technology Co., Ltd.	June 2, 2021	Hangzhou, China	100%	Research and development of software
IPOLLO PTE. LTD. (formerly IPOLLO MINER PTE.LTD.)	June 9, 2021	Singapore	100%	Distribution of products
Ipollo Tech Inc	June 29, 2021	BVI	100%	Investment
Nano Tech Cayman Ltd	July 6, 2021	Cayman	100%	Investment
Nano Technology HK Limited	July 7, 2021	Hong Kong	100%	Investment
Ipollo HK Limited	July 7, 2021	Hong Kong	100%	Distribution of products
Zhejiang Metaverse Technology Co., Ltd.	August 12, 2021	Hangzhou, China	100%	Investment
Ipollo Tech Ltd	October 27, 2021	Cayman	100%	Investment
Haowei Technology (Shaoxing) Co., Ltd.	November 3, 2021	Shaoxing, China	100%	Investment
Shenzhen Matamata Technology Co., Ltd.	November 17, 2021	Shenzhen, China	100%	Distribution of products
Shenzhen Matavos Technology Co., Ltd.	December 21, 2021	Shenzhen, China	100%	Distribution of products
Tsuki Inc	January 7, 2022	United States	100%	Distribution of products
Metaski (Shaoxing) Technology Co., Ltd.	January 13, 2022	Shaoxing, China	100%	Distribution of products
Haoweiverse (Shaoxing) Technology Co., Ltd.	January 13, 2022	Shaoxing, China	65%	Plant and distribution of products
Metameta (Shaoxing) Technology Co., Ltd.	January 25, 2022	Shaoxing, China	100%	Distribution of products
Ipolloverse HK Limited	May 18, 2022	Hong Kong	70%	Research and development
Metaverse (Shaoxing) Technology Co., Ltd.	May 20, 2022	Shaoxing, China	100%	Distribution of products
Ipolloverse Cayman Ltd	May 27, 2022	Cayman	70%	Investment
Ipolloverse Tech Inc	May 30, 2022	BVI	70%	Investment
Hangzhou Meta Technology Co., Ltd.	October 21, 2022	Hangzhou, China	100%	Distribution of products

Property, plant and equipment, net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net

Property, plant and equipment, net consist of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Cost:
Computers and electronic equipment		8,349,956			9,537,316
Office furniture		238,222			266,252
Leasehold improvement		1,395,308			1,550,648
Transportation equipment		—			41,014
Construction in progress		—			16,119,419
Less: Accumulated depreciation		(2,734,442	)		(6,087,694	)
Property, plant and equipment, net		7,249,044			21,426,955

Depreciation expenses recognized for the years ended December 31, 2020, 2021 and 2022 were RMB187,277, RMB2,510,398 and RMB3,353,055, respectively.

Other Current Assets - Schedule of Other Current Assets (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Prepaid Expense and Other Assets [Abstract]
Value-added tax recoverable	¥ 23,731,587		¥ 33,077,492
Deferred offering related expenses	0		7,108,562
Deposits	3,434,080		919,630
Others	109,548		354,806
Total	¥ 27,275,215	$ 3,916,264	¥ 41,460,490

Income Taxes - Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
PRC statutory income tax rates	25.00%	25.00%	25.00%
Effect of expenses not deductible for tax purposes	0.91%	(0.22%)	(0.38%)
Effect of additional deduction of research and development expense	(64.43%)	15.18%	21.50%
Effect of income tax exemptions and reliefs	(56.77%)	(13.14%)	0.02%
Recovery from deferred income tax assets	(97.39%)	0.00%	0.00%
Effect of valuation allowance on deferred income tax assets	171.26%	(26.35%)	(46.16%)
Income tax difference under different tax jurisdictions	21.42%	(0.47%)	0.00%
Total	0.00%	0.00%	(0.02%)

Parent - only financial statements - CONDENSED STATEMENTS OF CASH FLOWS (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Net cash provided by (used in) operating activities	¥ (274,940,789)	$ (39,476,896)	¥ 71,732,868	¥ (3,027,899)
Net cash used in investing activities	(33,182,870)	(4,764,504)	(36,046,123)	(1,646,776)
Net cash provided by financing activities	160,996,502	23,116,403	164,896,124	29,365,000
Effect of exchange rate changes on cash and cash equivalents	1,132,887	162,663	(2,062,387)	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(145,994,270)	(20,962,334)	198,520,482	24,690,325
Cash, cash equivalents and restricted cash at beginning of the year	233,853,654	33,577,471	35,333,172	10,642,847
Cash, cash equivalents and restricted cash at end of the year	87,859,384	12,615,137	233,853,654	35,333,172
Parent Company
Net cash provided by (used in) operating activities	3,911,561	561,635	(535,017)	0
Net cash used in investing activities	(155,900,936)	(22,384,765)	(201,554,446)	0
Net cash provided by financing activities	144,043,186	20,682,191	201,251,124	0
Effect of exchange rate changes on cash and cash equivalents	7,883,387	1,131,921	926,910	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(62,802)	(9,018)	88,571	0
Cash, cash equivalents and restricted cash at beginning of the year	88,571	12,718	0	0
Cash, cash equivalents and restricted cash at end of the year	¥ 25,769	$ 3,700	¥ 88,571	¥ 0

Income Taxes - Schedule of Provision for Income Taxes (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current income tax expense	¥ 0		¥ 0	¥ 2,293
Deferred tax expense	0		0	0
Income tax expense	¥ 0	$ 0	¥ 0	¥ 2,293

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Operating leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Operating leases

The Company entered into various operating lease agreements for offices space. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following component of lease cost are included in the Company’s consolidated statements of operations and comprehensive income (loss):


	For the year ended December 31, 2020		For the year ended December 31, 2021		For the year ended December 31, 2022
	RMB		RMB		RMB
Operating lease cost		389,799		3,277,780		11,385,312
Short-term lease cost		48,000		1,867,850		295,564
Total lease cost		437,799		5,145,630		11,680,876

Supplemental disclosure related to operating leases were as follows:


	For the year ended December 31, 2020		For the year ended December 31, 2021			For the year ended December 31, 2022
	RMB		RMB			RMB
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases		335,162		5,068,864			5,822,406

			As of December 31, 2021			As of December 31, 2022
Weighted average remaining lease term of operating leases (years)				1.86			1.65
Weighted average discount rate of operating leases				6.24	%		6.24	%

The following table summarizes the maturity of operating lease liabilities as of December 31, 2022:


As of December 31,	2022
	RMB
2023		4,239,198
2024		2,542,911
Thereafter		—
Total lease payments		6,782,109
Less: imputed interest		(68,633	)
Total lease liabilities		6,713,476

Other current assets

12 Months Ended

Dec. 31, 2022

Prepaid Expense and Other Assets [Abstract]

Other current assets

Other current assets consist of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Value-added tax recoverable		33,077,492		23,731,587
Deferred offering related expenses		7,108,562		—
Deposits		919,630		3,434,080
Others		354,806		109,548
Total		41,460,490		27,275,215

DOCUMENT AND ENTITY INFORMATION	12 Months Ended
DOCUMENT AND ENTITY INFORMATION	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Securities Act File Number	001-41426
Entity Registrant Name	Nano Labs Ltd
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	30th Floor, Dikaiyinzuo
Entity Address, Address Line Two	No. 29, East Jiefang Road
Entity Address, City or Town	Hangzhou, Zhejiang
Entity Address, Country	CN
Title of 12(b) Security	American depositary shares, each representing two Class A ordinary shares, par value US$0.0001 per share Class A ordinary shares, par value US$0.0001
ICFR Auditor Attestation Flag	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	true
Entity Address, Postal Zip Code	310000
Trading Symbol	NA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001872302
Auditor Name	MaloneBailey, LLP
Auditor Location	Houston, Texas
Auditor firm Id	206
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	54,318,514
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	57,178,154
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	30th Floor, Dikaiyinzuo
Entity Address, Address Line Two	No. 29, East Jiefang Road
Entity Address, City or Town	Hangzhou, Zhejiang
Contact Personnel Name	Mr. Jianping Kong
City Area Code	86
Local Phone Number	0571-8665 6957
Contact Personnel Email Address	jack@nano.cn
Entity Address, Country	CN
Entity Address, Postal Zip Code	310000

Concentrations - Additional Information (Details)	12 Months Ended
Concentrations - Additional Information (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Sales Revenue [Member] \| Customer Concentration Risk [Member] \| Customer [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	10.00%	10.00%
Purchase [Member] \| Supplier Concentration [Member] \| Supplier [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	10.00%	10.00%

Parent - only financial statements - CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Net revenues	¥ 983,168,898	$ 141,166,599	¥ 39,440,897	¥ 2,126,676
Operating expenses:
Selling and marketing expenses	24,431,649	3,507,976	5,119,072	108,567
General and administrative expenses	53,197,248	7,638,235	24,121,823	3,187,033
Total operating expenses	209,480,499	30,077,894	174,696,076	37,772,084
Income (loss) from operations	20,684,220	2,969,907	(178,785,887)	(36,915,952)
Net income (loss)	31,118,886	4,468,151	(174,944,484)	(37,704,077)
Comprehensive income (loss):
Net income (loss)	31,118,886	4,468,151	(174,944,484)	(37,704,077)
Other comprehensive income (loss)
Foreign currency translation adjustment	4,566,656	655,695	(2,467,327)	0
Total comprehensive income (loss)	35,685,542	5,123,846	(177,411,811)	(37,704,077)
Parent Company
Net revenues	0	0	0	0
Operating expenses:
Selling and marketing expenses	0	0	980	0
General and administrative expenses	5,822,906	836,072	306,775	0
Total operating expenses	5,822,906	836,072	307,755	0
Income (loss) from operations	(5,822,906)	(836,072)	(307,755)	0
Finance income	66,144	9,497	0	0
Investment income	53,809	7,726	0	0
Income (loss) from investment in subsidiaries	36,821,839	5,287,000	(174,636,729)	(37,704,077)
Net income (loss)	31,118,886	4,468,151	(174,944,484)	(37,704,077)
Comprehensive income (loss):
Net income (loss)	31,118,886	4,468,151	(174,944,484)	(37,704,077)
Other comprehensive income (loss)
Foreign currency translation adjustment	4,566,656	655,695	(2,467,327)
Total comprehensive income (loss)	¥ 35,685,542	$ 5,123,846	¥ (177,411,811)	¥ (37,704,077)

Property, plant and equipment, net - Components of Property and Equipment, Net (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	¥ (6,087,694)		¥ (2,734,442)
Property, plant and equipment, net	21,426,955	$ 3,076,552	7,249,044
Computers and electronic equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,537,316		8,349,956
Office furniture
Property, Plant and Equipment [Line Items]
Property and equipment, gross	266,252		238,222
Leasehold improvement
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,550,648		1,395,308
Transportation equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	41,014		0
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	¥ 16,119,419		¥ 0

Intangible Asset, Net - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	¥ 575,076	¥ 99,301	¥ 166,280
Land use right ,net value	¥ 48,717,132	¥ 0		$ 6,994,964

Concentrations - Schedule of customer (Details) - Sales Revenue [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Customer A
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	59.00%	47.00%
Customer B
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	0.00%	22.00%
Customer C
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	0.00%	14.00%
Customer D
Concentration Risk [Line Items]
Concentration Risk, Percentage	0.00%	15.00%	0.00%

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2021	Aug. 31, 2021	Jul. 31, 2021	May 31, 2021	Apr. 30, 2021	Mar. 31, 2021	Jan. 08, 2021
Ordinary shares, par value	$ 0.0001	$ 0.0001					$ 0.0001
Ordinary shares authorized	200,000,000	500,000,000							500,000,000
Ordinary shares issued	111,496,668	103,790,000	3,790,000	3,790,000	20,751,000	20,751,000		79,249,000
Ordinary shares outstanding	111,496,668	103,790,000
Class A Ordinary Shares
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	242,821,846	242,821,846
Ordinary shares issued	54,318,514
Ordinary shares outstanding	54,318,514
Class B Ordinary Shares
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares authorized	57,178,154	57,178,154
Ordinary shares issued	57,178,154
Ordinary shares outstanding	57,178,154

Income Taxes - Additional Information (Details)	12 Months Ended
Income Taxes - Additional Information (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 SGD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, foreign income tax rate	21.42%	21.42%	21.42%	(0.47%)	0.00%
Income tax rate reconciliation, tax exemptible income, percent	(56.77%)	(56.77%)	(56.77%)	(13.14%)	0.02%
Statutory income tax rate	0.00%	0.00%	0.00%	0.00%	(0.02%)
Provision of valuation allowance \| ¥	¥ 24,519,326			¥ 42,631,572	¥ 16,396,474
Reversal of valuation allowance \| ¥	¥ 6,100,147
USA
Income Tax Contingency [Line Items]
U.S federal income tax rate	21.00%	21.00%	21.00%
Hong Kong \| Up to Two Million
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, foreign income tax rate	8.25%	8.25%	8.25%
Income tax assessable profit \| $			$ 2,000,000
Hong Kong \| Over Two Million
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, foreign income tax rate	16.50%	16.50%	16.50%
Income tax assessable profit \| $			$ 2,000,000
Singapore
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, foreign income tax rate	17.00%	17.00%	17.00%
Singapore \| Tax Exemption Scenario One
Income Tax Contingency [Line Items]
Income tax rate reconciliation, tax exemptible income, percent	75.00%	75.00%	75.00%
Income tax reconciliation tax exemptible income	¥ 470,000	$ 100,000
Singapore \| Tax Exemption Scenario Two
Income Tax Contingency [Line Items]
Income tax rate reconciliation, tax exemptible income, percent	50.00%	50.00%	50.00%
Income tax reconciliation tax exemptible income	¥ 470,000	$ 100,000
PRC
Income Tax Contingency [Line Items]
Statutory income tax rate	25.00%	25.00%	25.00%
Preferential income tax rate	15.00%	15.00%	15.00%

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories, Net

Inventories, net consist of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Raw materials		61,673,722			69,914,306
Work in process		115,246,904			158,693,203
Finished goods		63,703,393			81,807,783
Less: write-down of inventories		(26,753,768	)		(208,213,546	)
Inventories, net		213,870,251			102,201,746

Subsequent events - Additional Information (Details) ¥ in Millions		1 Months Ended	12 Months Ended
	Jan. 01, 2022 shares	Jan. 31, 2023 CNY (¥) $ / shares shares	Dec. 31, 2022 shares
Subsequent Event [Line Items]
Employee stock options, granted	500,000		500,000
Employee stock options, forfeited			0
Zhejiang Shaoxing Ruifeng Rural Commercial Bank [Member]
Subsequent Event [Line Items]
Interest rate, stated percentage on additional borrowings			5.40%
Subsequent Event
Subsequent Event [Line Items]
Employee stock options, granted		166,666
Stock option exercise price \| $ / shares		$ 0.0002
Subsequent Event \| Zhejiang Shaoxing Ruifeng Rural Commercial Bank [Member]
Subsequent Event [Line Items]
Repayment dates of loan		June 20, 2023 to July 25, 2030
Amount borrowed \| ¥		$ 26.7
Interest rate, stated percentage on additional borrowings		5.40%

Commitments and contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

18.

Commitments and contingencies

Operating lease commitments

The information of lease commitments is provided in Note 8.

Contingencies

The Company is subject to litigation matters from time to time in the normal cause of business. The Company’s legal counsel and the management routinely assess the likelihood of adverse judgments and outcomes to these

matters, as well as ranges of probable losses. Accruals are recorded for these matters to the extent that management concludes a loss is probable and the financial impact, should an adverse outcome occur, is reasonable estimable. The Company has not recorded any material liabilities in this regard as of December 31, 2021 and 2022.

During the year ended December 31, 2022, a customer filed a civil action against the Company for a sales contract dispute, claiming the contract should be annulled and demanding a return of payment made for the contract of RMB44,941,000 and indemnity of RMB1,680,527. As of the filing date, the management of the Company, together with the trial counsel of this case, believe the possibility of an unfavorable outcome is reasonably possible. However, the amount liable by the Company in the event of an unfavorable outcome cannot be reasonably estimated.

Two bank accounts of the Company were judicially frozen by the court as a result of the legal proceedings. The frozen amount as of December 31, 2022 and the date of this annual report was RMB48,112 and RMB324, respectively.

Share based compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of RSUs activity

The following table summarized the RSUs activity and related information for the year ended December 31, 2022:


	Number of RSUs		Weighted Average Grant Date Fair Value (RMB)
Unvested, January 1, 2022		6,181,420		0.01
Granted	—		—
Forfeited		162,262		0.01
Vested		2,006,384		0.01
Unvested, December 31, 2022		4,012,774		0.01

Schedule of Summary of Option Activities



	January 1, 2022
Spot price on valuation date		US$4.80
Expected volatility		137.01	%
Risk-free interest rate		1.51	%
Dividend yield		0.00	%
Forfeiture rate		0.00	%

Schedule of Summary of Share Option Activity

The following table summarizes the share option activity and related information for the year ended December 31, 2022:



	Number of Options		Weighted Average Exercise Price (RMB)		Weighted Average Remaining Term (Years)		Weighted Average Grant Date Fair Value (RMB)
Outstanding as of 1/1/2022		—		—		—		—
Granted		500,000		0.001		10.00		30.47
Forfeited		—		—		—		—
Exercised		—		—		—		—
Outstanding as of 12/31/2022		500,000		0.001		9.00		30.47
Vested and exercisable as of December 31, 2022		166,666

Operating leases - Schedule of Components of Lease Cost (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Component of Lease Cost Abstract
Operating lease cost	¥ 11,385,312	¥ 3,277,780	¥ 389,799
Short-term lease cost	295,564	1,867,850	48,000
Total lease cost	¥ 11,680,876	¥ 5,145,630	¥ 437,799

Intangible Asset, Net - Schedule of Intangible asset, Net (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated amortization	¥ (909,941)		¥ (334,865)
Intangible asset, net	48,717,132	$ 6,994,964	0
Land use right
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	49,292,208		0
Franchise right
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	¥ 334,865		¥ 334,865

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2022
Franchise right
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Asset Useful Life	2 years
Land use right
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Asset Useful Life	50 years

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of preparation

The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for information pursuant to the rules and regulations of the SEC.

Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

Use Of Estimates

Use of estimates

The preparation of the Company’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Significant accounting estimates reflected in the Company's consolidated financial statements including, but not limited to, inventory write-down, valuation allowance for deferred tax assets and share-based compensation.

Principles of consolidation

The Company’s consolidated financial statements include the financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

Functional currency and foreign currency translation

The Company uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated outside of PRC is the United States dollar (“US$”), while the functional currency of the PRC entities in the Company is RMB as determined based on the criteria of ASC 830, “Foreign Currency Matters”.

Transactions denominated in other than the functional currencies are re-measured into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in other than the functional currency are re-measured at the balance sheet date exchange rate. The resulting exchange differences are included in the consolidated statements of operations and comprehensive income (loss).

The financial statements of the Company are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the Company and its subsidiaries incorporated outside of PRC are translated into RMB at fiscal year-end exchange rates. Income and expense items are translated at average exchange rates prevailing during the fiscal year, representing the index rates stipulated by the People’s Bank of China. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a separate component of shareholders’ equity (deficit) on the consolidated financial statement.

Convenience translation

The United States dollar (“US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ were calculated at the rate of US$1.00=RMB6.9646 on December 31, 2022, representing the central parity rate on December 31, 2022 published by the People’s Bank of China. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on December 31, 2022, or at any other rate.

Concentration of credit risk

Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions with high credit ratings and quality.

Fair value measurement

The Company adopted the guidance of Accounting Standards Codification (“ASC”) 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Observable, market-based inputs, other than quoted prices, in active markets for similar assets or liabilities.

Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

ASC 820 also describes three main approaches to measuring the fair value of assets and liabilities:

(1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

Financial instruments included in current assets and current liabilities except for short-term investments are reported in the consolidated balance sheets at face value or cost, which approximate to fair value because of their short-term maturities. Short-term investments represent wealth management products that have original maturities of less than three months. The Company values its wealth management products using alternative market observable inputs and accordingly classifies the valuation techniques that use these inputs as Level 2.

Related party transactions

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Related parties may be individuals or corporate entities.

Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of amounts due from/to related parties due to their related party nature.

Cash and cash equivalents

Cash and cash equivalents include cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less and are readily convertible to known amounts of cash. As of December 31, 2021 and 2022, cash and cash equivalents in banks was RMB233,853,654 and RMB87,811,272, respectively.

Restricted cash

Restricted cash mainly represents the bank deposit frozen by the court as a result of legal proceedings. As of December 31, 2021 and 2022, the Company had restricted cash balance of nil and RMB48,112, respectively.

Short-term investments

Short-term investments include wealth management products purchased from banks, which are certain deposits with variable interest rates or principal not-guaranteed. The wealth management products have short original maturities of less than three months and the carrying value approximates to fair value.

Inventories, net

Inventories, consist of raw materials, work in process and finished goods. Inventories are stated at the lower of cost and net realizable value. Cost of inventory is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventory to the estimated net realizable value due to slow-moving and obsolete inventory, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment.

Prepayments

Prepayments primarily consist of advances to suppliers for future inventory purchases and prepaid processing fees.

Property and equipment, net

Property, plant and equipment, net

Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight-line method over their estimated useful lives. The estimated useful lives are as follows:


Computers and electronic equipment		2 to 3 years
Office furniture		5 years
Transportation equipment		4 years

Leasehold improvements are depreciated using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term.

Construction in progress represents assets under construction. All direct costs relating to the construction are capitalized as construction in progress. Construction in progress is not depreciated until the asset is placed in service.

Intangible asset, net

The Company’s intangible asset with definite useful lives primarily consists of a franchise right and land use right. According to the law of PRC, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government for a specified period of time. The Company amortizes its franchise right and land use right on a straight-line basis over the contractual term. The estimated useful lives are as follows:


Franchise right		2 years
Land use right		50 years

Impairment of long-lived assets

For long-lived assets including property, plant and equipment, right-of-use assets, and intangible assets with finite lives, the Company evaluates for impairment whenever events or changes (triggering events) indicate that the carrying amount of an asset may no longer be recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the years ended December 31, 2020, 2021 and 2022, no impairment of long-lived assets was recognized.

Revenue from contracts with customers

Consistent with the criteria of ASC 606 “Revenue from Contracts with Customers”, the Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. Revenue consists of the invoiced value for the sales net of value-added tax (“VAT”), business tax and applicable local government levies.

Product sales revenue

The Company generates revenue primarily from the sale of product solutions by integrating its self-designed IC products (e.g., high throughput computing, or HTC, solutions) directly to a customer, such as a business or individual engaged in mining activities.

The Company recognizes revenue at a point in time when the control of the products has been transferred to customers. The transfer of control is considered complete when products have been picked up by or shipped to customers. The Company’s sales arrangements usually require prepayment before the delivery of products. The advance payment is not considered a significant financing component. The Company elected to account for shipping and handling fees as a fulfillment cost. The product sales contracts generally include product warranty provisions. The Company did not accrue warranty liabilities for the product sales as the financial impacts of the warranty have historically been and are expected to continue to be immaterial.

Service revenue

The Company also generates revenue from its design and technical services under separate contracts. Revenues from the design and technical service to the customers are recognized at a point in time when services are provided.

Revenue disaggregation

In accordance with ASC 606, the Company disaggregates revenue from contracts with customers by revenue stream. The Company determined that disaggregating revenue into these categories meets the disclosure objective in ASC 606 which is to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by regional economic factors. The following table summarizes the net revenues generated from different revenue streams:

Contract liabilities

Contract liabilities are recorded when consideration is received from a customer prior to transferring the control of goods or services to the customer. As of December 31, 2021 and 2022, the Company recorded contract liabilities of RMB917,391,899 and RMB124,469,097, respectively, which were presented as advance from customers on the accompanying consolidated balance sheets. During the years ended December 31, 2020, 2021 and 2022, the Company recognized RMB1,165,716, RMB4,241,270 and RMB804,875,532 of contract liabilities as revenue, respectively.

Cost of revenues

Amounts recorded as cost of revenue relate to direct expenses incurred in order to generate revenue. Such costs are recorded as incurred. Cost of revenues consists of product costs and service costs. Product costs include costs of raw material, contract manufacturers for production, shipping and handling costs, and warehousing costs. Service costs include labor costs. During the years ended December 31, 2020, 2021 and 2022, the Company recorded inventory write-down of nil, RMB26,753,768 and RMB184,073,191 as cost of revenues, respectively.

Selling and marketing expenses

Selling and marketing expenses consist primarily of advertising and promotion, salaries, and shipping and handling costs incurred during the selling activities. Advertising and transportation expenses are charged to expense as incurred.

Advertising and promotion costs in the amounts of RMB108,567, RMB992,996 and RMB10,901,200 for the years ended December 31, 2020, 2021 and 2022, respectively, are included in selling and marketing expenses.

Shipping and handling costs amounting to nil, RMB371,769 and RMB4,233,084 for the years ended December 31, 2020, 2021 and 2022, respectively, are included in selling and marketing expenses.

Research and development expenses

Research and development expenses consist primarily of salary and welfare for research and development personnel, raw materials used, consulting and contractor expenses, testing and processing expenses and other expenses in associated with research and development activities. The Company recognizes research and development expenses as expense when incurred.

Leases

Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate, which it calculates based on the credit quality of the Company and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease.

The Company elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Company recognizes lease expenses for such leases on a straight-line basis over the lease term.

Employee social security and welfare benefits

Employees of the Company in the PRC are entitled to staff welfare benefits including pension, work-related injury benefits, maternity insurance, medical insurance, unemployment benefit and housing fund plans through a PRC government-mandated multi-employer defined contribution plan. The Company is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government.

The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Company’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made.

Share-based compensation

Restricted shares and options granted to employees and directors are accounted for under ASC Topic 718, “Compensation - Stock compensation” (“ASC 718”). In accordance with ASC 718, the Company determines whether restricted shares or options should be classified and accounted for as an equity award. All grants of restricted shares and options to employees and directors classified as equity awards are recognized in the financial statements based on their grant date fair values. The value of the portion of the award that is ultimately expected to vest is recognized as compensation expense over the requisite service periods in the statements of operations. In addition, compensation expense must be recognized for the change in fair value of any awards modified, repurchased or cancelled after the grant date.

The fair value of stock option granted is estimated on the grant date using the binomial model.

Income taxes

The Company accounts for income taxes under the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and income tax bases of assets and liabilities and are measured using the tax income rates that will be in effect when the differences are expected to reverse. A valuation allowance is recorded if it is more likely than not that some portion or all of the deferred income tax assets will not be realized in the foreseeable future.

In accordance with the provisions of ASC 740, “Income taxes”, the Company recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is “more likely than not” to be sustained upon examination based solely on the technical merits of the position. Tax positions that meet the recognition threshold are measured using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. Interest and penalties arising from underpayment of income taxes are computed in accordance with the applicable tax law and is classified in the consolidated statements of operations as income tax expense.

Comprehensive income (loss)

Comprehensive income/(loss) is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments from shareholders and distributions to shareholders. Comprehensive income (loss) for the periods presented includes net income (loss) and foreign currency translation adjustments.

Earnings (loss) per share

The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is computed by dividing net income (loss) attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings (loss) per share is calculated by dividing net income (loss) attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year. Dilutive equivalent shares are excluded from the computation of diluted earnings (loss) per share if their effects would be anti- dilutive. Ordinary share equivalents consist of the ordinary shares issuable in connection with the Company’s ordinary shares issuable upon the conversion of the share-based awards, using the treasury stock method.

Segment Reporting

The Company uses the “management approach” in determining reportable segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s chief operating decision maker has been identified as the chief executive officer of the Company who reviews financial information of operating segments based on U.S. GAAP. The chief operating decision maker now reviews results analyzed by marketing channel. This analysis is only presented at the revenue level with no allocation of direct or indirect costs. Consequently, the Company has determined that it has only one operating segment.

Recently adopted or issued accounting pronouncements

In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments (Topic 326)”, and issued subsequent amendments to the initial guidance, transitional guidance and other interpretive guidance between November 2018 and March 2020 within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03. ASU 2016-13 introduces new guidance for credit losses on instruments within its scope, which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life, instead of when incurred. For the Company, the guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. All entities may adopt this ASU through a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company adopted ASU 2016-13 on January 1, 2023 and the adoption did not have a material impact on its consolidated financial statements.

Intangible asset, net

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible asset, net

Intangible asset, net consists of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Cost:
Land use right		—			49,292,208
Franchise right		334,865			334,865
Less: Accumulated amortization		(334,865	)		(909,941	)
Intangible asset, net		—			48,717,132

Amortization expense for the years ended December 31, 2020, 2021 and 2022 amounted to RMB166,280, RMB99,301 and RMB575,076, respectively.

As of December 31, 2021 and 2022, land use right with net book value of nil and RMB48,717,132 was pledged as collateral under a loan arrangement (also see Note 10).

As of December 31, 2022, the future estimated amortization expenses are as below.


	Estimated amortization expense
Years ended December 31,	RMB
2023		985,844
2024		985,844
2025		985,844
2026		985,844
2027		985,844
Thereafter		43,787,912
Total		48,717,132

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Computers and Electronic equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and Equipment, Net	2 years
Computers and Electronic equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and Equipment, Net	3 years
Office furniture
Property, Plant and Equipment [Line Items]
Property and Equipment, Net	5 years
Transportation equipment
Property, Plant and Equipment [Line Items]
Property and Equipment, Net	4 years

Other current liabilities

12 Months Ended

Dec. 31, 2022

Other Liabilities, Current [Abstract]

Other current liabilities

Other current liabilities consist of the following:


	As of December 31, 2021		As of December 31, 2022
	RMB		RMB
Salary accrual		6,591,805		8,536,985
Deposit		—		10,000,000
Tax accrual		321,443		13,609,170
Others		4,509		7,253,377
Total		6,917,757		39,399,532

Property, plant and equipment, net - Additional Information (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expenses	¥ 3,353,055	¥ 2,510,398	¥ 187,277

Long-term debts (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of future maturities of long-term debts

As of December 31, 2022, the future maturities of long-term debts are as below:


As of December 31,	RMB
2023		280,000
2024		420,000
2025		560,000
2026		700,000
2027		840,000
Thereafter		14,153,316
Total		16,953,316

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Earning (loss) per share - Summary of income and share data used in basic and diluted earnings (loss) per ordinary share computations (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Earnings Per Share [Abstract]
Earnings (loss) attributable to ordinary shareholders of the Company	¥ 31,118,886	$ 4,468,151	¥ (174,944,484)	¥ (37,704,077)
Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation	106,488,996	106,488,996	89,877,975	79,249,000
Basic earnings (loss) per share \| (per share)	¥ 0.29	$ 0.04	¥ (1.95)	¥ (0.48)
Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation	¥ 31,118,886	$ 4,468,151	¥ (174,944,484)	¥ (37,704,077)
Weighted average number of ordinary shares outstanding diluted earnings (loss) per share calculation	106,488,996	106,488,996	89,877,975	79,249,000
Incremental shares issuable related to options issued	126,214	126,214	0	0
Weighted average number of shares outstanding for diluted earnings (loss) per share calculation	106,615,210	106,615,210	89,877,975	79,249,000
Diluted earnings (loss) per share \| (per share)	¥ 0.29	$ 0.04	¥ (1.95)	¥ (0.48)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

Share based compensation - Summary of RSUs activity (Details)	12 Months Ended
	Dec. 31, 2022 ¥ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted Average Grant Date Fair Value, Granted	¥ 30.47
Weighted Average Grant Date Fair Value Unvested, December 31, 2022	¥ 30.47
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unvested, January 1, 2022 \| shares	6,181,420
Number of shares forfeited \| shares	162,262
Number of shares vested \| shares	2,006,384
Unvested, December 31, 2022 \| shares	4,012,774
Weighted Average Grant Date Fair Value, Unvested, January 1, 2022	¥ 0.01
Weighted Average Grant Date Fair Value, Forfeited	0.01
Weighted Average Grant Date Fair Value, Vested	0.01
Weighted Average Grant Date Fair Value Unvested, December 31, 2022	¥ 0.01

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Foreign Currency Exchange Rate Translation	US$1.00=RMB6.9646	US$1.00=RMB6.9646
Cash and cash equivalents	¥ 87,811,272		¥ 233,853,654				$ 12,608,229
Restricted cash balance	48,112		0				$ 6,908
Impairment of long-lived assets \| $		$ 0		$ 0		$ 0
Contract liabilities	124,469,097		917,391,899
Contract liabilities as Revenue	804,875,532		4,241,270		¥ 1,165,716
Inventory write-down	184,073,191	$ 26,429,830	26,753,768		0
Advertising and promotion cost	10,901,200		992,996		¥ 108,567
Shipping and handling costs	¥ 4,233,084		¥ 371,769			$ 0

Parent - only financial statements - CONDENSED BALANCE SHEETS (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
ASSETS/(LIABILITIES)
Cash and cash equivalents	¥ 87,811,272	$ 12,608,229	¥ 233,853,654
Short-term investments	0	0	31,888,500
Prepayments	71,314,254	10,239,533	372,355,129
Other payables	15,292,843	2,195,796	2,837,638
Total liabilities	202,828,264	29,122,741	934,494,408
Shareholders' equity (deficit):
Ordinary shares Value			66,970
Additional paid-in capital	354,803,564	50,943,854	201,418,380
Accumulated deficit	(199,207,921)	(28,602,923)	(223,679,698)
Statutory reserves	6,647,109	954,414	0
Accumulated other comprehensive income (loss)	2,099,329	301,429	(2,467,327)
Total shareholders' deficit	164,414,400	23,607,157	(24,661,675)
Class A Ordinary Shares
Shareholders' equity (deficit):
Ordinary shares Value	35,425	5,086
Class B Ordinary Shares
Shareholders' equity (deficit):
Ordinary shares Value	36,894	5,297
Parent Company
ASSETS/(LIABILITIES)
Cash and cash equivalents	25,769	3,700	88,571
Short-term investments	0	0	31,878,500
Prepayments	0	0	374,120
Due from intercompany	380,321,338	54,607,780	168,505,129
Investment in subsidiaries	(215,932,707)	(31,004,323)	(225,380,481)
Other payables	0	0	(127,514)
Total liabilities	164,414,400	23,607,157	(24,661,675)
Shareholders' equity (deficit):
Ordinary shares Value			66,970
Additional paid-in capital	354,803,564	50,943,854	201,418,380
Accumulated deficit	(199,207,921)	(28,602,923)	(223,679,698)
Statutory reserves	6,647,109	954,414	0
Accumulated other comprehensive income (loss)	2,099,329	301,429	(2,467,327)
Total shareholders' deficit	164,414,400	23,607,157	¥ (24,661,675)
Parent Company \| Class A Ordinary Shares
Shareholders' equity (deficit):
Ordinary shares Value	35,425	5,086
Parent Company \| Class B Ordinary Shares
Shareholders' equity (deficit):
Ordinary shares Value	¥ 36,894	$ 5,297

CONSOLIDATED BALANCE SHEETS	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 87,811,272	$ 12,608,229	¥ 233,853,654
Restricted Cash	48,112	6,908	0
Short-term investments	0	0	31,888,500
Inventories, net	102,201,746	14,674,460	213,870,251
Prepayments	71,314,254	10,239,533	372,355,129
Other current assets	27,275,215	3,916,264	41,460,490
Total current assets	288,650,599	41,445,394	893,428,024
Non-current assets:
Property, plant and equipment, net	21,426,955	3,076,552	7,249,044
Intangible asset, net	48,717,132	6,994,964	0
Operating lease right-of-use assets	8,447,978	1,212,988	9,155,665
Total non-current assets	78,592,065	11,284,504	16,404,709
TOTAL ASSETS	367,242,664	52,729,898	909,832,733
Current liabilities:
Current portion of long-term debts	280,000	40,203	0
Accounts payable	15,292,843	2,195,796	2,837,638
Advance from customers	124,469,097	17,871,679	917,391,899
Operating lease liabilities, current	4,199,361	602,958	5,224,757
Other current liabilities	39,399,532	5,657,111	6,917,757
Total current liabilities	183,640,833	26,367,747	932,372,051
Non-current liabilities:
Long-term debts	16,673,316	2,394,009	0
Operating lease liabilities, non-current	2,514,115	360,985	2,122,357
Total liabilities	202,828,264	29,122,741	934,494,408
Shareholders' equity (deficit):
Ordinary shares Value			66,970
Additional paid-in capital	354,803,564	50,943,854	201,418,380
Accumulated deficit	(199,207,921)	(28,602,923)	(223,679,698)
Statutory reserves	6,647,109	954,414	0
Accumulated other comprehensive income (loss)	2,099,329	301,429	(2,467,327)
Total shareholders' deficit	164,414,400	23,607,157	(24,661,675)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	367,242,664	52,729,898	¥ 909,832,733
Class A Ordinary Shares
Shareholders' equity (deficit):
Ordinary shares Value	35,425	5,086
Class B Ordinary Shares
Shareholders' equity (deficit):
Ordinary shares Value	¥ 36,894	$ 5,297

Property, plant and equipment, net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment, Net

Property, plant and equipment, net consist of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Cost:
Computers and electronic equipment		8,349,956			9,537,316
Office furniture		238,222			266,252
Leasehold improvement		1,395,308			1,550,648
Transportation equipment		—			41,014
Construction in progress		—			16,119,419
Less: Accumulated depreciation		(2,734,442	)		(6,087,694	)
Property, plant and equipment, net		7,249,044			21,426,955

Long-term debts - Additional Information (Details) - Zhejiang Shaoxing Ruifeng Rural Commercial Bank [Member] - CNY (¥)		12 Months Ended
	Aug. 11, 2022	Dec. 31, 2022
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	¥ 100,000,000
Expiration period of credit agreement	Jul. 25, 2030
Amount borrowed		¥ 17,093,316
Repayments of credit facilities		¥ 140,000
Debt instrument, interest rate, stated percentage		5.40%
Repayment dates		September 20, 2022 to July 25, 2030

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Related party transactions

12 Months Ended

Dec. 31, 2022

Related party transactions

16.

Related party transactions

Related parties with whom the Company conducted business consist of the following:


Name of related party		Nature of Relationship
Jianping Kong		Principal shareholder, chairman and chief executive officer
Qifeng Sun		Principal shareholder and vice chairman
Yingying Jin		Family member of Jianping Kong
Hangzhou Weiditu Technology Co., Ltd.		Company controlled by Jianping Kong

During the year ended December 31, 2020, the Company borrowed RMB17,670,000 from Jianping Kong. During the year ended December 31, 2021, the Company repaid RMB19,270,000 to Jianping Kong. As of December 31, 2021 and 2022, the amounts due to Jianping Kong were nil.

During the year ended December 31, 2020, the Company borrowed RMB12,085,000 from Qifeng Sun. During the year ended December 31, 2021, the Company repaid RMB12,085,000 to Qifeng Sun. As of December 31, 2021 and 2022, the amounts due to Qifeng Sun were nil.

During the year ended December 31, 2020, the Company borrowed RMB500,000 from and repaid RMB890,000 to Yingying Jin. As of December 31, 2021 and 2022, the amounts due to Yingying Jin were nil.

During the year ended December 31, 2020, the Company lent RMB2,270,000 to and collected RMB1,560,000 from Hangzhou Weiditu Technology Co., Ltd. During the year ended December 31, 2021, the Company lent RMB100,000 to and collected RMB4,490,000 from Hangzhou Weiditu Technology Co., Ltd. As of December 31, 2021 and 2022, the amounts due from Hangzhou Weiditu Technology Co., Ltd. were nil.

During the year ended December 31, 2021, the Company purchased raw materials and services in amount of RMB328,411 from Hangzhou Weiditu Technology Co., Ltd., and made payment in amount of RMB5,045,392 to it. As of December 31, 2021 and 2022, the accounts payable to Hangzhou Weiditu Technology Co., Ltd. were nil.

The amounts due from related party and due to related parties are unsecured, non-interest bearing and due on demand.

Other current liabilities - Schedule of other current liabilities (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Other Liabilities, Current [Abstract]
Salary accrual	¥ 8,536,985		¥ 6,591,805
Deposit	10,000,000		0
Tax accrual	13,609,170		321,443
Others	7,253,377		4,509
Total	¥ 39,399,532	$ 5,657,111	¥ 6,917,757

Concentrations

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentrations

17.

Concentrations

The following table sets forth information as to each customer that accounted for 10% or more of the Company’s revenues for the years ended December 31, 2020, 2021 and 2022:


	For the Years Ended December 31,
	2020			2021			2022
Customer A		47	%		59	%		—
Customer B		22	%		—			—
Customer C		14	%		—			—
Customer D		—			15	%		—

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchase for the years ended December 31, 2020, 2021 and 2022:


	For the Years Ended December 31,
	2020			2021			2022
Supplier A		38	%		—			—
Supplier B		36	%		—			—
Supplier C		—			50	%		32	%
Supplier D		—			34	%		—
Supplier E		—			13	%		23	%

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue - (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Disaggregation of Revenue [Line Items]
Net revenues	¥ 983,168,898	$ 141,166,599	¥ 39,440,897	¥ 2,126,676
Product sales revenue
Disaggregation of Revenue [Line Items]
Net revenues	920,653,911		39,440,897	2,004,074
Service revenue
Disaggregation of Revenue [Line Items]
Net revenues	¥ 62,514,987		¥ 0	¥ 122,602

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Share based compensation - Schedule of Summary of Option Activities (Details)	Jan. 01, 2022 $ / shares
Share-Based Payment Arrangement [Abstract]
Spot price on valuation date	$ 4.80
Expected volatility	137.01%
Risk-free interest rate	1.51%
Dividend yield	0.00%
Forfeiture rate	0.00%

Shareholders' equity (deficit)	12 Months Ended
Shareholders' equity (deficit)	Dec. 31, 2022
Equity [Abstract]
Shareholders' equity (deficit)	11. Shareholders’ equity (deficit) On January 8, 2021, Nano Labs Ltd was incorporated in the Cayman Islands. In April 2021, the Board of the Company approved a one-for-10,000 shares subdivision, following which the authorized share capital of US$50,000 was divided into 500,000,000 ordinary shares with a par value of US$0.0001 each. In January and March 2021, the Company issued ordinary shares, which equivalent to a total of 79,249,000 ordinary shares after the reorganization, to six original shareholders of Zhejiang Haowei with cash proceeds of US$7,925. In April and May 2021, the Company entered into agreements with fourteen new shareholders to issue a total of 20,751,000 ordinary shares for total cash proceeds of RMB 81,000,000 (approximately US$12,600,000). In July 2021, the total of 20,751,000 ordinary shares were issued and the proceeds had been fully collected as of December 31, 2021. In August 2021, the Company entered into agreements with six new shareholders to issue a total of 3,790,000 ordinary shares for total consideration of US$18,950,000 (approximately RMB122,300,000). In November 2021, the total of 3,790,000 shares were issued and the proceeds had been fully collected as of December 31, 2021. Immediately prior to the completion of the initial public offering (“IPO”) on July 12, 2022, the Company adopted a dual-class share structure, consisting of Class A ordinary shares and Class B ordinary shares, with par value of US$0.0001 per share. 57,178,154 ordinary shares, beneficially owned by Mr. Jianping Kong and Mr. Qifeng Sun, the founders of the Company, were re-designated into Class B ordinary shares on a one-for-one basis, and the remaining 46,611,846 ordinary shares were re-designated into Class A ordinary shares on a one-for-one basis. Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to 15 votes per share. Each Class B ordinary share is convertible at any time into one Class A ordinary share, while Class A ordinary shares are not convertible into Class B ordinary shares. On July 14, 2022, the Company completed the IPO with new issuance of totaling 1,770,000 ADSs representing 3,540,000 Class A ordinary shares at a price of US$11.50 per ADS or US$5.75 per ordinary share for gross proceeds of approximately US$20.4 million. The Company received all the net proceeds of approximately US$16.6 million after deducting underwriting discounts and commissions and other offering expenses by July 14, 2022. On September 30, 2022, the Company completed the supplemental offering with new issuance of totaling 2,083,334 ADSs representing 4,166,668 Class A ordinary shares at price of US$2.40 per ADS or US$1.20 per share for gross proceeds of approximately US$5.0 million. The Company received all the net proceeds of approximately US$4.5 million after deducting underwriting discounts and commissions and other offering expenses by October 5, 2022. As of December 31, 2021 and 2022, there were 103,790,000 and 111,496,668 ordinary shares issued and outstanding, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 13
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other current liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other Liabilities, Current [Abstract]

Schedule of Other current liabilities

Other current liabilities consist of the following:


	As of December 31, 2021		As of December 31, 2022
	RMB		RMB
Salary accrual		6,591,805		8,536,985
Deposit		—		10,000,000
Tax accrual		321,443		13,609,170
Others		4,509		7,253,377
Total		6,917,757		39,399,532

Statutory Reserve - Additional information (Details)	12 Months Ended
Statutory Reserve - Additional information (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Statutory Reserve Disclosure [Abstract]
Statutory reserves	¥ 6,647,109	$ 954,414	¥ 0
Statutory general reserve, Description	Appropriation to the statutory general reserve should be at least 10% of the after tax net income determined in accordance with the legal requirements in the PRC until the reserve is equal to 50% of the entities’ registered capital. The Company is not required to make appropriation to other reserve funds and the Company does not have any intentions to make appropriations to any other reserve funds.

Statutory Reserve

12 Months Ended

Dec. 31, 2022

Statutory Reserve Disclosure [Abstract]

Statutory Reserve

13.

Statutory Reserves

The Company’s subsidiaries incorporated in the PRC are required on an annual basis to make appropriations of retained earnings set at certain percentage of after-tax profit determined in accordance with PRC accounting standards and regulations (“PRC GAAP”).

Appropriation to the statutory general reserve should be at least 10% of the after tax net income determined in accordance with the legal requirements in the PRC until the reserve is equal to 50% of the entities’ registered capital. The Company is not required to make appropriation to other reserve funds and the Company does not have any intentions to make appropriations to any other reserve funds.

The general reserve fund can only be used for specific purposes, such as offsetting the accumulated losses, enterprise expansion or increasing the registered capital. Appropriations to the general reserve funds are classified in the consolidated balance sheets as statutory reserves.

There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Company has not done so.

Relevant laws and regulations permit payments of dividends by the PRC subsidiaries and affiliated companies only out of their retained earnings, if any, as determined in accordance with respective accounting standards and regulations. Accordingly, the above balances are not allowed to be transferred to the Company in terms of cash dividends, loans or advances.

The Company has made nil, nil and RMB6,647,109 appropriations to statutory reserve for the years ended December 31, 2020, 2021 and 2022, respectively.

Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2022

Prepaid Expense and Other Assets [Abstract]

Schedule of Other Current Assets

Other current assets consist of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Value-added tax recoverable		33,077,492		23,731,587
Deferred offering related expenses		7,108,562		—
Deposits		919,630		3,434,080
Others		354,806		109,548
Total		41,460,490		27,275,215

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Income Statement [Abstract]
Net revenues	¥ 983,168,898	$ 141,166,599	¥ 39,440,897	¥ 2,126,676
Cost of revenues	753,004,179	108,118,798	43,530,708	1,270,544
Gross profit (loss)	230,164,719	33,047,801	(4,089,811)	856,132
Operating expenses:
Selling and marketing expenses	24,431,649	3,507,976	5,119,072	108,567
General and administrative expenses	53,197,248	7,638,235	24,121,823	3,187,033
Research and development expenses	131,851,602	18,931,683	145,455,181	34,476,484
Total operating expenses	209,480,499	30,077,894	174,696,076	37,772,084
Income (loss) from operations	20,684,220	2,969,907	(178,785,887)	(36,915,952)
Other expenses (income):
Finance expense (income)	(4,407,504)	(632,844)	509,764	3,747
Interest income	(2,005,580)	(287,968)	(3,495,208)	(17,915)
Other expenses (income)	(4,021,582)	(577,432)	(855,959)	800,000
Total other expense (income)	(10,434,666)	(1,498,244)	(3,841,403)	785,832
Income (loss) before income tax provision	31,118,886	4,468,151	(174,944,484)	(37,701,784)
Income tax provision	0	0	0	2,293
Net income (loss)	31,118,886	4,468,151	(174,944,484)	(37,704,077)
Comprehensive income (loss):
Net income (loss)	31,118,886	4,468,151	(174,944,484)	(37,704,077)
Other comprehensive income (loss)
Foreign currency translation adjustment	4,566,656	655,695	(2,467,327)	0
Total comprehensive income (loss)	¥ 35,685,542	$ 5,123,846	¥ (177,411,811)	¥ (37,704,077)
Net income (loss) per ordinary share:
Basic \| (per share)	¥ 0.29	$ 0.04	¥ (1.95)	¥ (0.48)
Diluted \| (per share)	¥ 0.29	$ 0.04	¥ (1.95)	¥ (0.48)
Weighted average number of shares used in per share calculation:
Basic	106,488,996	106,488,996	89,877,975	79,249,000
Diluted	106,615,210	106,615,210	89,877,975	79,249,000

Intangible Asset, Net - Schedule of Future Estimated Amortization Expenses (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	¥ 985,844
2024	985,844
2025	985,844
2026	985,844
2027	985,844
Thereafter	43,787,912
Total	¥ 48,717,132	$ 6,994,964	¥ 0

Prepayments - Schedule of Prepayments (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Prepaid Expense, Current [Abstract]
Prepayments - inventories and processing fee	¥ 64,813,532		¥ 369,183,083
Prepayments - others	6,500,722		3,172,046
Prepayments	¥ 71,314,254	$ 10,239,533	¥ 372,355,129

Earning (loss) per share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Summary of income and share data used in basic and diluted earnings (loss) per ordinary share computations

The following reflects the income and share data used in the basic and diluted earnings (loss) per ordinary share computations:


	For the years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Earnings (loss) attributable to ordinary shareholders of the Company		(37,704,077	)		(174,944,484	)		31,118,886
Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation		79,249,000			89,877,975			106,488,996
Basic earnings (loss) per share		(0.48	)		(1.95	)		0.29

Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation		(37,704,077	)		(174,944,484	)		31,118,886
Weighted average number of ordinary shares outstanding diluted earnings (loss) per share calculation		79,249,000			89,877,975			106,488,996
Adjusted for:
- incremental shares issuable related to options issued		—			—			126,214
Weighted average number of shares outstanding for diluted earnings (loss) per share calculation		79,249,000			89,877,975			106,615,210
Diluted earnings (loss) per share		(0.48	)		(1.95	)		0.29

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of preparation

Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

Use of estimates

Principles of consolidation

Functional currency and foreign currency translation

Convenience translation

Concentration of credit risk

Fair value measurement

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Observable, market-based inputs, other than quoted prices, in active markets for similar assets or liabilities.

Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

ASC 820 also describes three main approaches to measuring the fair value of assets and liabilities:

Related party transactions

Cash and cash equivalents

Restricted cash

Short-term investments

Inventories, net

Prepayments

Prepayments primarily consist of advances to suppliers for future inventory purchases and prepaid processing fees.

Property, plant and equipment, net


Computers and electronic equipment		2 to 3 years
Office furniture		5 years
Transportation equipment		4 years

Leasehold improvements are depreciated using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term.

Intangible asset, net


Franchise right		2 years
Land use right		50 years

Impairment of long-lived assets

Revenue from contracts with customers

Product sales revenue

Service revenue

Revenue disaggregation


	For the Years Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Product sales revenue		2,004,074		39,440,897		920,653,911
Service revenue		122,602		—		62,514,987
Net revenues		2,126,676		39,440,897		983,168,898

Contract liabilities

Cost of revenues

Selling and marketing expenses

Shipping and handling costs amounting to nil, RMB371,769 and RMB4,233,084 for the years ended December 31, 2020, 2021 and 2022, respectively, are included in selling and marketing expenses.

Research and development expenses

Leases

Employee social security and welfare benefits

Share-based compensation

The fair value of stock option granted is estimated on the grant date using the binomial model.

Income taxes

Comprehensive income (loss)

Earnings (loss) per share

Segment Reporting

Recently adopted or issued accounting pronouncements