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CORRECTION: Nano Labs Announces Results of Annual General Meeting of Shareholders

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Nano Labs (Nasdaq: NA) has announced the results of its Annual General Meeting (AGM) held on October 23, 2024. Shareholders approved three key resolutions: a 10-to-1 share consolidation effective November 3, 2024, at 5 P.M. Eastern time, with market effectiveness on November 4, 2024; the adoption of new memorandum and articles of association reflecting the share consolidation; and the appointment of MaloneBailey, LLP as the independent auditor for fiscal year 2024.

Following the consolidation, the company's authorized capital will be US$50,000, divided into 25 million ordinary shares with a par value of US$0.002 each, including 12.14 million Class A shares, 2.86 million Class B shares, and 10 million shares as determined by the board.

Nano Labs (Nasdaq: NA) ha annunciato i risultati della sua Assemblea Generale Annuale (AGM) tenutasi il 23 ottobre 2024. Gli azionisti hanno approvato tre risoluzioni chiave: una consolidazione delle azioni 10 a 1 che entrerà in vigore il 3 novembre 2024, alle 17:00 ora orientale, con efficacia di mercato il 4 novembre 2024; l'adozione di un nuovo memorandum e statuto che riflettono la consolidazione delle azioni; e la nomina di MaloneBailey, LLP come revisore indipendente per l'anno fiscale 2024.

Dopo la consolidazione, il capitale autorizzato dell'azienda sarà di 50.000 dollari americani, suddiviso in 25 milioni di azioni ordinarie con un valore nominale di 0,002 dollari americani ciascuna, inclusi 12,14 milioni di azioni di Classe A, 2,86 milioni di azioni di Classe B e 10 milioni di azioni come determinato dal consiglio.

Nano Labs (Nasdaq: NA) ha anunciado los resultados de su Junta General de Accionistas (AGM) celebrada el 23 de octubre de 2024. Los accionistas aprobaron tres resoluciones clave: una consolidación de acciones de 10 a 1 que entrará en vigor el 3 de noviembre de 2024, a las 5 P.M. hora del Este, con eficacia en el mercado el 4 de noviembre de 2024; la adopción de un nuevo memorando y artículos de asociación que reflejan la consolidación de acciones; y el nombramiento de MaloneBailey, LLP como auditor independiente para el año fiscal 2024.

Después de la consolidación, el capital autorizado de la empresa será de 50,000 dólares estadounidenses, dividido en 25 millones de acciones ordinarias con un valor nominal de 0.002 dólares cada una, incluyendo 12.14 millones de acciones Clase A, 2.86 millones de acciones Clase B y 10 millones de acciones según lo determinado por la junta.

나노랩스 (Nasdaq: NA)는 2024년 10월 23일 개최된 연례 주주 총회(AGM) 결과를 발표했습니다. 주주들은 세 가지 주요 결의를 승인했습니다: 10 대 1의 주식 통합이 2024년 11월 3일 오후 5시 동부 표준시부터 효력이 발생하며, 시장 효력은 2024년 11월 4일부터 시작됩니다; 주식 통합을 반영한 새로운 각서 및 정관의 채택; 그리고 MaloneBailey, LLP를 2024 회계연도의 독립 감사인으로 임명하는 것입니다.

통합 이후 회사의 승인된 자본금은 50,000 미국 달러로, 0.002 달러의 액면가를 가진 2,500만 보통주로 나누어지며, 여기에는 1,214만 주의 A 클래스 주식, 286만 주의 B 클래스 주식, 이사회에서 결정한 1,000만 주가 포함됩니다.

Nano Labs (Nasdaq: NA) a annoncé les résultats de son Assemblée Générale Annuelle (AGM) tenue le 23 octobre 2024. Les actionnaires ont approuvé trois résolutions clés : une consolidation des actions de 10 pour 1 qui prendra effet le 3 novembre 2024 à 17h00, heure de l'Est, avec une efficacité sur le marché à partir du 4 novembre 2024 ; l'adoption d'un nouveau mémorandum et de nouveaux statuts reflétant la consolidation des actions ; et la nomination de MaloneBailey, LLP comme auditeur indépendant pour l'exercice fiscal 2024.

Après la consolidation, le capital autorisé de l'entreprise sera de 50 000 dollars américains, divisé en 25 millions d'actions ordinaires avec une valeur nominale de 0,002 dollar chacune, y compris 12,14 millions d'actions de Classe A, 2,86 millions d'actions de Classe B et 10 millions d'actions comme déterminé par le conseil.

Nano Labs (Nasdaq: NA) hat die Ergebnisse seiner Hauptversammlung (AGM), die am 23. Oktober 2024 stattfand, bekannt gegeben. Die Aktionäre haben drei wichtige Beschlüsse genehmigt: eine Aktienzusammenlegung im Verhältnis 10 zu 1, die am 3. November 2024 um 17:00 Uhr Eastern Time wirksam wird, mit Markteffektivität am 4. November 2024; die Annahme eines neuen Memorandums und einer Satzung, die die Aktienzusammenlegung widerspiegeln; und die Ernennung von MaloneBailey, LLP als unabhängigen Prüfer für das Geschäftsjahr 2024.

Nach der Zusammenlegung wird das genehmigte Kapital des Unternehmens 50.000 US-Dollar betragen, aufgeteilt in 25 Millionen Stammaktien mit einem Nennwert von 0,002 US-Dollar jeweils, darunter 12,14 Millionen Klasse A-Aktien, 2,86 Millionen Klasse B-Aktien und 10 Millionen Aktien, wie vom Vorstand festgelegt.

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HANGZHOU, China, Oct. 25, 2024 (GLOBE NEWSWIRE) -- In the news release "Nano Labs Announces Results of Extraordinary General Meeting of Shareholders," issued October 23, 2024 by Nano Labs Ltd over GlobeNewswire, we are advised by the company that the final paragraph should be “The Share Consolidation will be effective from 5 P.M. on November 3, 2024, Eastern time. The expected market effective date of the Share Consolidation is November 4, 2024 (as of the opening of business).” The complete, corrected release follows:

Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, today announced the results of the Company’s Annual General Meeting (“AGM”) held at 10 A.M. on October 23, 2024, Beijing time (10 P.M., October 22, 2024, U.S. Eastern time). The proposals submitted for shareholder approval at the AGM have been approved. Specifically, the shareholders have passed the following resolutions:

(1) to effect a share consolidation of every ten shares with a par value of US$0.0002 each in the Company’s issued and unissued share capital into one share with a par value of US$0.002 (the “Share Consolidation”), so that immediately following the Share Consolidation and the share re-designation, the authorized share capital of the Company shall be US$50,000 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 12,141,093 Class A ordinary shares of par value of US$0.002 each, (ii) 2,858,908 Class B ordinary shares of par value of US$0.002 each, and (iii) 9,999,999 shares of a par value of US$0.002 each of such class or classes (however designated) as the board of directors of the Company may determine in accordance with the Company’s New M&A (as defined below).
   
(2) to amend the Company’s memorandum and articles of association currently in effect by the adoption of a new memorandum and articles of association to reflect the Share Consolidation (after the amendment, the “New M&A”); and
   
(3) to approve the appointment of MaloneBailey, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.
   

The Share Consolidation will be effective from 5 P.M. on November 3, 2024, Eastern time. The expected market effective date of the Share Consolidation is November 4, 2024 (as of the opening of business).

About Nano Labs Ltd

Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NICs”) vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab's Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

* According to an industry report prepared by Frost & Sullivan.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For more information, please contact:

Nano Labs Ltd
ir@nano.cn

Ascent Investor Relations LLC
Phone: +1-646-932-7242
Email: investors@ascent-ir.com


FAQ

When will Nano Labs (NA) share consolidation become effective?

Nano Labs' share consolidation will become effective on November 3, 2024, at 5 P.M. Eastern time, with market effectiveness on November 4, 2024, at market open.

What is the ratio of Nano Labs (NA) share consolidation announced on October 23, 2024?

The share consolidation ratio is 10-to-1, meaning every ten shares with a par value of US$0.0002 will be consolidated into one share with a par value of US$0.002.

What resolutions were approved at Nano Labs (NA) AGM on October 23, 2024?

Shareholders approved three resolutions: the 10-to-1 share consolidation, adoption of new memorandum and articles of association, and appointment of MaloneBailey, LLP as independent auditor for 2024.

What will be Nano Labs (NA) new share structure after the consolidation?

The new structure will include 25 million ordinary shares: 12.14 million Class A shares, 2.86 million Class B shares, and 10 million shares to be designated by the board.

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