PR Newswire·Nov 10, 2026, 6:05 AM ET

Canaan Inc. Announces Plan to Implement ADS Ratio Change

Canaan Inc. plans to change its ADS ratio from 15 Class A ordinary shares per ADS to 375 Class A ordinary shares per ADS.
The new ratio will be effective on or about December 4, 2026, U.S. Eastern Time.
The change functions as a 1-for-25 reverse split of ADSs, requiring holders to exchange 25 existing ADSs for one new ADS.
JPMorgan Chase Bank, N.A. will act as the depositary bank to arrange the exchange of shares.
No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated, sold, and net cash proceeds distributed to holders.
The primary purpose of the change is to help the company regain compliance with Nasdaq's minimum bid price requirement.
The ADS Ratio Change will not impact the company's underlying Class A ordinary shares, business operations, or financial conditions.
Trading of ADSs will continue on the Nasdaq Capital Market under the ticker symbol "CAN".
The trading price of ADSs is expected to increase proportionately, though the company provides no assurance the new price will equal or exceed 25 times the prior price.
Canaan Inc. was established in 2013, completed its IPO on Nasdaq in 2019, and specializes in ASIC high-performance computing chip design and mining equipment.