Canaan Inc. Announces Resignation of Chief Monetary Officer Nasdaq:CAN

BEIJING, China, Feb. 09, 2021 (World NEWSWIRE) — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a top high-effectiveness computing remedies provider, right now introduced that Mr. Quanfu Hong has resigned from the Main Economic Officer place, effective February 9, 2021, for personalized factors. Mr. Tong He will grow to be performing Chief Economical Officer promptly.

Mr. He has been the Company’s Director of Finance because July 2020 and has in depth working experience in finance and accounting. Prior to signing up for the Organization, Mr. He served as Main Fiscal Officer and assistant to the general supervisor at Diankeyun (Beijing) Technology Co., Ltd, deputy chief fiscal officer at IReader Know-how Co Ltd. (SHSE: 603533), and Head of Business enterprise Unit Finance at Lenovo Team Restricted (HKSE: 0992). Mr. He attained a learn degree in commerce finance in Australia.

Mr. Nangeng Zhang, Chairman and Main Govt of Canaan, commented, “Speaking on behalf of the Corporation and the board, I would like to thank Mr. Hong for his beneficial company and contributions to the Business. We desire him the best for his upcoming endeavors. I would also like to thank Mr. He for accepting the acting CFO function and continuing to present us with his managerial know-how. With his shown skills in accounting and finance, Mr. He really should be in a position to guarantee a smooth changeover and transfer our functions continuously ahead.”

About Canaan Inc. 
Established in 2013, Canaan Inc. provides high-overall performance computing remedies to efficiently address advanced problems. In 2016, Canaan successfully initiated the generation of its very first 16nm chip and passed the exam to obtain China’s countrywide higher-tech organization certification. In 2018, Canaan realized main technological breakthroughs to start the K210, the world’s initially-at any time RISC-V-primarily based edge synthetic intelligence (AI) chip, which is now widely made use of for accessibility manage in situations this sort of as clever door locks and a lot more. Canaan Inc. is currently targeted on the exploration and growth of state-of-the-art technology, which includes this kind of parts as AI chips, AI algorithms, AI architectures, process on a chip (SoC) integration and chip integration. Utilizing the AI chip as its base, Canaan Inc. has founded an mental value chain. Canaan Inc. also gives a suite of AI provider options and is capable to tailor these remedies to the demands of its partners. For a lot more info, please check out: investor.canaan-imaginative.com.

Protected Harbor Assertion
This announcement has forward−looking statements. These statements are produced below the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology this sort of as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and very similar statements. Amid other factors, the business outlook and quotations from administration in this announcement, as nicely as Canaan Inc.’s strategic and operational designs, consist of forward−looking statements. Canaan Inc. could also make published or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Types 20−F and 6−K, in its yearly report to shareholders, in push releases and other published supplies and in oral statements produced by its officers, directors or workforce to third get-togethers. Statements that are not historical specifics, which includes statements about Canaan Inc.’s beliefs and anticipations, are forward−looking statements. Forward−looking statements contain inherent hazards and uncertainties. A number of variables could cause precise benefits to differ materially from those contained in any forward−looking statement, which include but not limited to the following: the Company’s goals and techniques the Company’s foreseeable future company improvement, financial condition and benefits of functions the predicted growth of the Bitcoin marketplace and the rate of Bitcoin the Company’s anticipations with regards to demand from customers for and market place acceptance of its products and solutions, particularly its Bitcoin mining machines the Company’s expectations pertaining to protecting and strengthening its associations with generation partners and clients the Company’s investment decision programs and strategies, fluctuations in the Company’s quarterly operating final results competition in its industry in China and applicable government procedures and polices relating to the Firm and cryptocurrency. Additional data concerning these and other threats is involved in the Company’s filings with the SEC, together with its registration statement on Variety F−1, as amended, and its yearly reviews on Type 20−F. All information and facts furnished in this press launch and in the attachments is as of the date of this push launch, and Canaan Inc. does not undertake any obligation to update any forward−looking assertion, other than as demanded beneath relevant law.

Investor Relations Make contact with
Canaan Inc.
Mr. Shaoke Li
E mail: [email protected]

ICR Inc.
Jack Wang
Tel: +1 (347) 396-3281
Email: [email protected]