Nano Labs (NA) Cash Flow: Operating & Free Cash Flow

Nano Labs Cash Flow Statement Analysis

Values in millions CNY

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Nano Labs Ltd (NA) - Annual data in millions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	125.95	-119.54	-254.35	31.12	-174.94	-37.70	-11.03
Depreciation & Amortization	12.16	11.63	10.18	9.43	5.53	0.62	0.13
Deferred Income Tax	0.00	0.00	0.00	0.00	26.75	-34.05	0.00
Stock Based Compensation	0.07	0.40	0.72	9.35	0.02	0.21	0.00
Change in Working Capital	-33.66	-58.37	49.10	-508.91	214.39	33.84	-6.13
Change in Accounts Receivable	0.29	1.18	-1.73	0.00	1.17	-1.17	0.00
Change in Inventory	-16.48	-27.88	28.78	-71.45	-233.39	-7.24	0.00
Change in Accounts Payable	1.37	1.08	0.90	10.59	-2.78	0.39	0.00
Change in Other Working Capital	10.68	-32.74	0.11	346.24	-402.60	-3.18	-6.13
Other Operating Activities	-212.79	26.55	0.11	184.07	26.74	34.05	25.60
Net Cash from Operating Activities	-108.27	-139.33	-133.47	-274.94	71.73	-3.03	8.57
Investing Activities
Capital Expenditures	-0.05	-36.37	-105.48	-17.53	-8.69	-0.94	-0.90
Purchases of Investments	-2.00	-220.41	0.00	33.64	-32.29	0.00	0.00
Sales/Maturities of Investments	55.44	0.00	0.00	33.64	0.00	0.00	0.00
Other Investing Activities	-295.99	0.02	0.00	-49.29	4.39	-0.71	-4.01
Net Cash from Investing Activities	-296.19	-256.77	-105.48	-33.18	-36.05	-1.65	-4.92
Financing Activities
Debt Repayment	-23.35	50.36	-1.53	-0.14	-5.00	-0.89	0.00
Common Stock Issued	357.30	315.62	72.80	144.04	201.25	0.00	0.00
Common Stock Repurchased	-1.67	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	0.26	10.00	0.00	0.00	-31.36	29.37	6.99
Net Cash from Financing Activities	382.39	375.98	199.52	161.00	164.90	29.37	6.99
Summary
Effect of Forex Changes on Cash	-0.93	4.38	0.16	1.13	-2.06	0.00	0.00
Net Change in Cash	-23.00	-15.73	-39.28	-145.99	198.52	24.69	10.64
Cash at Beginning of Period	32.85	48.58	87.86	233.85	35.33	10.64	0.00
Cash at End of Period	9.85	32.85	48.58	87.86	233.85	35.33	10.64
Free Cash Flow	-108.32	-175.70	-238.96	-292.47	63.04	-3.96	7.67
Supplemental Disclosures
Interest Paid	10.58	9.28	3.77	0.18	-	-	-
Income Taxes Paid	-	-	-	0.09	0.28	0.00	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Nano Labs Cash Flow

What is Nano Labs's free cash flow?

Nano Labs had negative free cash flow of CNY 108.32M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −CNY 108.27M minus CNY 46.28K of capital expenditures.

How much does Nano Labs spend on capital expenditures?

Nano Labs spent CNY 46.28K on capital expenditures in fiscal 2025, compared with CNY 36.37M a year earlier.

Does Nano Labs pay dividends or buy back shares?

Yes. In fiscal 2025 Nano Labs returned CNY 1.67M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition