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Canaan Inc. Receives Additional 180-day Compliance Period from Nasdaq to Regain Compliance with Minimum Bid Price Requirement

CAN
  • Canaan Inc. received written notification from Nasdaq granting an additional 180-day compliance period until January 11, 2027, to regain adherence to the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
  • The company continues to satisfy all other Nasdaq Capital Market listing requirements, including the market value of publicly held shares, except for the minimum bid price rule.
  • The notification will not immediately affect the listing or trading of Canaan's American Depositary Shares (ADSs), which represent 15 Class A ordinary shares each \& trade under the symbol "CAN."
  • Compliance will be achieved if the ADS closing bid price remains at least US$1.00 per share for a minimum of ten consecutive business days during the extension period.
  • Nasdaq approved the transfer of Canaan's ADS listing from the Nasdaq Global Market to the Nasdaq Capital Market on June 29, 2026, with the change becoming effective on July 1, 2026.
  • The initial 180-day compliance period expired on July 13, 2026, following a notification issued on January 14, 2026.
  • Canaan intends to monitor the ADS closing bid price daily until January 11, 2027, \& evaluate all available options to rectify the deficiency.