Nano Labs Ltd balance sheet

At the end of fiscal 2025, Nano Labs Ltd had total assets of $160m, total liabilities of $54.1m and shareholders' equity of $107m. It held $1.2m in cash against $31.6m of debt: net debt of $30.4m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Nano Labs Ltd: balance sheet, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	5	37	13	7	4	1
Receivables	—	—	—	0	0	0
Inventory	—	34	15	2	4	2
Total current assets	—	140	42	18	46	62
Total assets	—	143	53	49	84	160
Accounts payable	—	0	2	2	2	3
Deferred revenue (current)	—	144	18	15	14	10
Total current liabilities	—	146	27	34	29	29
Short-term debt	—	0	0	0	1	1
Long-term debt	—	—	2	17	23	24
Total debt	0	0	2	20	27	32
Total liabilities	—	147	29	52	52	54
Shareholders' equity	−7	−4	24	−2	32	107
Net debt (negative = net cash)	−5	−37	−10	13	22	30

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Nano Labs Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Nano Labs Ltd.