Canaan Inc. has received an additional 180-day period from The Nasdaq Stock Market LLC to regain compliance with the minimum bid price requirement, extending the deadline to January 11, 2027. The company satisfies all other applicable listing requirements for the Nasdaq Capital Market, except for the minimum bid price under Listing Rule 5550(a)(2). The notification does not affect the listing or trading of the company's American Depositary Shares (ADSs), which represent 15 Class A ordinary shares and trade under the symbol "CAN".

To regain compliance, the closing bid price of Canaan's ADSs must be at least US$1.00 per share for a minimum of ten consecutive business days during the compliance period. If achieved, Nasdaq will provide written confirmation, and the matter will be closed. The company intends to monitor the bid price and evaluate all available options to rectify the deficiency before the deadline.

Timeline of Compliance Events

Canaan initially received a notification from Nasdaq on January 14, 2026, indicating non-compliance with the minimum bid price requirement. This provided an initial 180-day compliance period through July 13, 2026. In connection with the request for an additional period, the company applied to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer was approved on June 29, 2026, and became effective on July 1, 2026.

Listing Status

Canaan's ADSs will continue to be listed and traded on the Nasdaq Capital Market throughout the second compliance period. The company remains focused on meeting the minimum bid price requirement to maintain its listing status.

Canaan Inc. has transferred the listing of its American Depositary Shares (ADSs) from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 1, 2026. The move, approved by the Listing Qualifications Department of The Nasdaq Stock Market LLC, aims to align the company's listing with its current operational status. Each ADS represents 15 Class A ordinary shares.

The transfer became effective at the opening of trading on July 1, 2026. Canaan specializes in crypto mining and continues to trade under the ticker symbol "CAN" on the Nasdaq Capital Market. This transition does not impact the company's business operations or the rights of its shareholders.

Key Details of the Transfer

The Nasdaq Capital Market is designed for smaller, growing companies and has less stringent listing requirements compared to the Nasdaq Global Market. Canaan's decision to transfer its listing reflects its strategic alignment with these criteria.