Nano Labs Regains Compliance with Nasdaq Listing Rule

Rhea-AI Summary

On October 14, 2022, Nano Labs Ltd announced its compliance with Nasdaq Listing Rule 5210(k)(i), confirming that its securities will continue to be listed on The Nasdaq Stock Market. The Nasdaq Hearing Panel's decision reflects the Company's ability to meet regulatory standards.

Nano Labs, a key player in China's fabless integrated circuit design sector, specializes in high throughput computing and performance chips, and is recognized for its advancements in the ASIC-based Grin mining market.

Positive

• Regained compliance with Nasdaq Listing Rule 5210(k)(i), ensuring continued listing of securities.
• Recognition as a leading fabless integrated circuit design company in China with innovative products.

Negative

• None.

HANGZHOU, China, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Nano Labs Ltd (the “Company” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, announced today that it has received a letter from the Nasdaq Office of General Counsel, notifying the Company that it has regained compliance with Listing Rule 5210(k)(i). Accordingly, the Nasdaq Hearing Panel has determined to continue the listing of the Company’s securities on The Nasdaq Stock Market.

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 with a maximum bandwidth of approximately 2.27 Tbps, as well as one of the first movers of ASIC-based Grin mining market*. For more information, please visit the Company’s website at: ir.nano.cn.

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

For investor and media inquiries, please contact:

Nano Labs Ltd
Email: ir@nano.cn

Ascent Investor Relations LLC
Ms. Tina Xiao
Tel: (917) 609-0333
Email: tina.xiao@ascent-ir.com

FAQ

What does the recent Nasdaq compliance mean for Nano Labs (NA)?

It means Nano Labs has met Nasdaq's regulatory standards and will continue to have its securities listed on the exchange.

When did Nano Labs regain compliance with Nasdaq rules?

Nano Labs regained compliance on October 14, 2022.

What products does Nano Labs specialize in?

Nano Labs specializes in high throughput computing chips, high performance computing chips, and ASIC-based mining solutions.