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

Core Viewpoint - Canaan Inc.'s CEO and CFO have purchased shares in the company, reflecting their confidence in its long-term strategy and growth potential, as they believe the current market valuation does not fully represent the company's strengths [1]. Group 1: Share Purchases - The CEO, Nangeng Zhang, and CFO, Jin Cheng, acquired a total of 1,456,547 American Depositary Shares (ADSs) at an average price of US$0.51 per ADS [1]. - These purchases were made in compliance with the company's internal trading policies and applicable securities regulations [1]. Group 2: Company Background - Canaan Inc. was established in 2013 and focuses on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services [1]. - The company has a significant presence in the global bitcoin mining market, holding the second largest market share with its Avalon brand of mining machines [1]. - Canaan completed its initial public offering on the Nasdaq Global Market in 2019 [1].