Nano Labs Announces It Holds Over 130K BNB With Total Value Of ~$112M

Nano Labs Ltd (NASDAQ:NA) ("we," the "Company" or "Nano Labs"), a leading Web 3.0 infrastructure and product solution provider, today announced continued progress in its strategic BNB reserve initiative, including the completion of a new round of BNB acquisitions.

As of the date of this announcement, the Company holds more than 130,000 BNB in aggregate, with a total value of approximately US$112 million. This milestone represents a further enhancement of Nano Lab's long-term strategic BNB reserve strategy.

In addition, the Company disclosed that its Board of Directors had previously approved a share repurchase program with an aggregate value of up to US$25 million, and that the Company has now formally commenced the implementation of this repurchase program. Taking into account its market capitalization management strategy, as well as the balance between corporate capital allocation and the value of its strategic BNB reserves, Nano Labs intends to continue executing the share repurchase program in the future, subject to market conditions, with the aim of enhancing long-term corporate value and safeguarding shareholder interests.