HONG KONG, July 17, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the appointment of Dr. Kailong Cai as the chief executive officer (“CEO”) of its wholly-owned subsidiary, Nano bit HK Limited (“Nano bit”). Dr. Cai will be fully responsible for driving Nano bit’s strategic upgrade and overseeing its global operations. This appointment marks a significant step in the Company’s ongoing evolution into a world-leading, publicly listed cryptocurrency reserve enterprise.

Dr. Cai is a renowned expert in crypto finance, with a strong academic background and extensive international experience. He holds a Ph.D. in finance with deep and broad background in both Chinese and U.S. financial markets. From 2020 to 2025, Dr. Cai served as a partner at Jasper Crypto Fund. From 2017 to 2018, Dr. Cai served as the chief strategy officer of Huobi Group (currently known as HTX), a global leader in crypto asset trading, as well as CEO of its U.S. subsidiary, where he led the development and execution of the company’s globalization strategy. Prior to that, he worked for approximately 6 years at Deutsche Bank on Wall Street, specializing in financial product innovation, risk management, and technology-driven business optimization. With over a decade of experience in fintech and asset management, Dr. Cai brings a wealth of knowledge to his new role.

Dr. Cai is a chartered financial analyst (CFA) and financial risk manager (FRM), with deep expertise in fintech, blockchain, and asset management.

Dr. Jianping Kong, Chairman and CEO of Nano Labs, commented on the appointment, “We believe Dr. Cai’s appointment brings visionary leadership and strong strategic execution capabilities to Nano Labs. Under his guidance, Nano Labs will accelerate its strategic reserves of core crypto assets, refine its asset-liability structure using capital market instruments, and further its global expansion. With Dr. Cai on board, we are more confident in achieving our goal of becoming a leading public cryptocurrency reserve company in Asia with global influence, offering investors efficient and transparent access to crypto asset allocation.”

Dr. Cai stated: “It is a great honor to take on this role and contribute to Nano Labs’ ambitious strategic vision. I look forward to working with our talented and forward-thinking team to enhance our crypto asset strategies and capitalize on emerging market trends and technological advancements.”