Canaan Inc. Receives Nasdaq Notification Regarding Minimum Bid Requirements

Core Viewpoint - Canaan Inc. has received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement for its American depositary shares (ADSs), which has been below US$1.00 for 30 consecutive business days [1][2]. Compliance Period - The company has been granted a 180-calendar-day compliance period until November 10, 2025, to regain compliance by ensuring the closing bid price of its ADSs meets or exceeds US$1.00 for at least 10 consecutive business days [2][3]. Potential for Extension - If compliance is not regained by the deadline, Canaan may be eligible for an additional 180-calendar-day compliance period, provided it meets other listing requirements and notifies Nasdaq of its intention to cure the deficiency [3]. Monitoring and Actions - The company intends to monitor the closing bid price of its ADSs closely and will take reasonable measures to regain compliance with Nasdaq's minimum bid price requirement [4]. Company Overview - Canaan Inc., established in 2013, specializes in ASIC high-performance computing chip design and production, and is known for shipping the first batch of ASIC mining machines for bitcoin under the brand name Avalon [5].