Canaan Inc. Announces Share Purchases by Chief Executive Officer and Chief Financial Officer

Core Viewpoint - Canaan Inc.'s leadership demonstrates confidence in the company's long-term prospects through recent stock purchases, indicating a belief in the disconnect between current stock price and future value [2][3]. Company Overview - Canaan Inc. is a technology company established in 2013, focusing on ASIC high-performance computing chip design, research and development, production of computing equipment, and software services [3]. - The company is known for shipping the world's first batch of ASIC mining machines for bitcoin under the brand name Avalon [3]. - Canaan went public on the Nasdaq Global Market in 2019 [3]. Recent Developments - Chairman and CEO Nangeng Zhang and CFO James Jin Cheng purchased a total of 817,268 American Depositary Shares (ADSs) at an average price of US$0.76 per ADS [2]. - These transactions comply with the company's internal trading policy and relevant laws and regulations [1].