HANGZHOU, China, July 12, 2024 /PRNewswire/ — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs“), a important fabless built-in circuit design corporate and product resolution supplier in China, lately introduced that it gained a notification letter dated July 11, 2024 (the “Deficiency Letter”) from the List {Qualifications} Branch of The Nasdaq Hold Marketplace Inc. (the “Nasdaq”) notifying that the Corporate is not in compliance with the Nasdaq List Rule 5450(b)(2)(C) for endured checklist because of its failure to guard at least Marketplace Worth of Publicly Held Stocks (“MVPHS”) of US$15.0 million.
The Deficiency Letter does no longer consequence within the rapid delisting of the Corporate’s Elegance A familiar stocks at the Nasdaq World Marketplace. The Corporate has 180 calendar days from the presen of the Deficiency Letters, or till January 7, 2025 (the “Compliance Period”), to regain compliance the minimal MVPHS requirement. If at any pace all through the Compliance Duration, the Corporate’s MVPHS is no less than US$15.0 million for at least 10 consecutive industry days, Nasdaq will handover the Corporate with a written affirmation of compliance with the minimal MVPHS requirement, and the topic will likely be closed. The Corporate’s control is searching into diverse choices to be had to regain compliance and guard its endured checklist at the Nasdaq World Marketplace.
This announcement is made in compliance with the Nasdaq List Rule 5810(b), which calls for recommended disclosure of receipt of a notification of deficiency.
About Nano Labs Ltd
Nano Labs Ltd is a important fabless built-in circuit (“IC”) design corporate and product resolution supplier in China. Nano Labs is dedicated to the advance of top throughput computing (“HTC”) chips, top efficiency computing (“HPC”) chips, disbursed computing and storagefacility answers, sly community interface playing cards (“NICs”) optic computing chips and disbursed rendering. Nano Labs has constructed a complete stream processing unit (“FPU”) structure which deals resolution that integrates the options of each HTC and HPC. For more info, please discuss with the Corporate’s web site at: ir.nano.cn.
Ahead-Taking a look Statements
This record accommodates forward-looking statements inside the that means of Division 21E of the Securities Change Occupation of 1934, as amended, and as outlined within the U.S. Personal Securities Litigation Reform Occupation of 1995. Those forward-looking statements come with, with out limitation, the Corporate’s plan to enchantment the Body of workers’s decision, which can also be recognized through terminology comparable to “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or alternative indistinguishable expressions. Such statements are based totally upon control’s tide expectancies and tide marketplace and working statuses, and relate to occasions that contain recognized or unknown dangers, uncertainties and alternative elements, all of that are tricky to expect and lots of of that are past the Corporate’s keep watch over, which might purpose the Corporate’s untouched effects, efficiency or achievements to fluctuate materially from the ones within the forward-looking statements. Dangers and uncertainties that can purpose such variations come with, amongst alternative issues: pleasure of commonplace endmost statuses alike to the providing and the sale of the securities and Nano Lab’s skill to finish the providing. Additional data relating to those and alternative dangers, uncertainties or elements is integrated within the Corporate’s filings with the Securities and Change Fee. The Corporate does no longer adopt any legal responsibility to replace any forward-looking observation on account of unused data, day occasions or differently, excluding as required underneath legislation.
For investor and media inquiries, please touch:
Nano Labs Ltd
Electronic mail: [email protected]
Ascent Investor Members of the family LLC
Tina Xiao
Telephone: +1-646-932-7242
Electronic mail: [email protected]
SOURCE Nano Labs Ltd
