Nano Labs Ltd

Ladies and gentlemen, thank you for standing by. Welcome to Nano Labs' first half of 2026 earnings conference call. During today's call, all participants will be in listen-only mode. This conference is being recorded today, Friday 28, 2026. Joining us today from Nano Labs are the company's chairman and chief executive officer, Mr. Jianping Kong, and the company's chief financial officer, Mr. Bing Chen. On our call today, Mr. Kong will give you an overview of the company's performance and Mr. Chen will show the details of the company's financial results. After that, we will conduct a question and answer session to take your questions. Before we continue, I would like to remind you that some information discussed on this call will contain 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. 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. During today's call, Mr. Kong and Mr. Chen will deliver their remarks in Chinese, and the company's representative will provide corresponding English translations. With that, I will now turn the call over to Mr. Kong, the company's chairman and chief executive officer. Mr. Kong, please go ahead.

Thank you, operator and everyone for joining Nano Labs' first half of 2026 conference call today. On our call today, I will provide an overview of our recent developments and our strategic initiatives going forward. In the first half of 2026, as the Web3 industry continues to mature, the global real estate market has also undergone a profound structural change. In this context, we can clearly see the opportunity of AI and Web3 deep integration in the system. Not only will it be able to reproduce blockchain infrastructure, but it is also innovating new application scenarios and business models. Based on this judgment, NanoLabs launched the new generation of products in the first half of this year, Apollo Cloud PC A1 Mini, and continues to promote the construction of the Open Cloud ecosystem.

In the first half of 2026, as the Web3 industry continued to mature, the global digital asset market underwent profound structural evolution. Against this backdrop, we increasingly recognized the systematic opportunities arising from the deep integration of artificial intelligence and Web3. This convergence not only has the potential to reshape blockchain infrastructure, but also to unlock new application scenarios and business models. Guided by this perspective, NanoLabs launched its next-generation product, the Apollo Cloud PC A1 Mini, during the first half of the year and continued to advance the development of open cloud ecosystem, spanning smart devices. Operating systems, hardware, software, and application layers.