# Nano Labs Ltd (NA)

> Source: Nexqual · https://nexqual.com/NA · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Nano Labs Ltd (NA), nexqual.com/NA" · informational, not investment advice.

**Price:** USD 1.66 (-1.49% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 1.68 · day 1.66–1.74 · 52w 1.58–5.16 · market cap $38.4M · NGM

## Key facts
- Insider open-market sales, last ~7 months: 8 Form 4 filings, $85K; 8 not under a Rule 10b5-1 plan ($85K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -66.0% vs S&P 500 +13.4%; 5Y -97.6% vs S&P 500 +76.9%.
- Next earnings: 2026-08-28, EPS estimate USD —, revenue estimate $0K.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 8 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-01 | Hu Nan | Director | 11,165 | $25K | 28.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-28 | Hu Nan | Director | 4,352 | $9K | 10.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-27…2026-04-28 | Hu Nan | Director | 6,148 | $13K | 12.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-20 | Hu Nan | Director | 4,092 | $11K | 7.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-17 | Hu Nan | Director | 1,633 | $5K | 3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-16 | Hu Nan | Director | 3,900 | $12K | 6.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-15 | Hu Nan | Director | 893 | $3K | 1.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-15 | Hu Nan | Director | 2,557 | $8K | 4.1% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2022-07-11) |
|---|---|---|
| Total return | -66.0% | -97.6% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -66.1% | -58.0% |
| Volatility (annualized) | 88.9% | 136.8% |
| Max drawdown | -68.2% (Nov 2025→Apr 2026) | -98.3% (Jul 2022→May 2026) |

## Peers (Semiconductors)
NVTS (Navitas Semiconductor Corporati) USD 8.38 -1.30% · POWI (Power Integrations, Inc.) USD 46.98 -0.30% · DIOD (Diodes Incorporated) USD 81.07 -0.70% · VSH (Vishay Intertechnology, Inc.) USD 26.7 -1.22% · SYNA (Synaptics Incorporated) USD 117.26 +0.19% · PI (Impinj, Inc.) USD 167.07 +2.69%

## More
Full page: https://nexqual.com/NA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NA's own 20-F filed 2026-04-13 (https://www.sec.gov/Archives/edgar/data/1872302/000121390026042816/ea0282601-20f_nanolabs.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Broadcom (AVGO) | "In terms of smart-NICs, we expect to face competition from industry giants such as Broadcom and Intel as well as other existing and new" |
| Competitor | Intel (INTC) | "In terms of smart-NICs, we expect to face competition from industry giants such as Broadcom and Intel as well as other existing and new" |

Other companies that name NA in their own reports (relationship from NA's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | The9 LTD (NCTY) | 20-F 2026-04-16 | "In July 2022, the Group made a RMB 20.2 million (US$3 million) strategic investment in the initial public offering of Nano Labs to obtain of 260,642 American depositary shares ("ADSs") of Nano Labs." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 27 | 210.1% | ±68.7% |
| 2027-02-19 | 118 | 107.2% | ±85.8% |
| 2027-05-21 | 209 | 227.6% | ±144.6% |