{"success":true,"data":{"pressRelease":{"id":"81302","rtpr_id":"nPn1sMrzla","ticker":"CAN","exchange":"NASDAQ","all_tickers":["CAN"],"title":"Canaan Inc. Completes Transfer to Nasdaq Capital Market","author":"PR Newswire","published_at":"2026-07-06T20:07:41.422Z","article_body":"Canaan Inc. Completes Transfer to Nasdaq Capital Market\n\nPR Newswire\n\nSINGAPORE, July 6, 2026\n\nApplies for additional 180-day minimum bid price compliance period\n\nSINGAPORE, July 6, 2026 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) (\"Canaan\" or\nthe \"Company\"), an innovator in crypto mining, today announced that the\nListing Qualifications Department of The Nasdaq Stock Market LLC (\"Nasdaq\")\nhas approved the transfer of the listing of the Company's American Depositary\nShares (\"ADSs\"), each representing 15 Class A ordinary shares, from the Nasdaq\nGlobal Market to the Nasdaq Capital Market. The transfer became effective at\nthe opening of trading on July 1, 2026.\n\nThe transfer has no impact on the trading of the Company's ADSs, which\ncontinue to trade under the ticker symbol \"CAN.\" The Nasdaq Capital Market\noperates in substantially the same manner as the Nasdaq Global Market, and\ncompanies listed on The Nasdaq Capital Market must meet certain financial and\ncorporate governance requirements to qualify for continued listing.\n\nAs previously disclosed, the Company received a notice from Nasdaq on January\n14, 2026, indicating that it was not in compliance with the minimum bid price\nrequirement as the closing bid price of its ADSs remained below US$1.00 for 30\nconsecutive business days. In accordance with Nasdaq's listing rules, the\nCompany was granted an initial 180-day compliance period until July 13, 2026,\nto regain compliance. Following the transfer of its listing to the Nasdaq\nCapital Market, the Company has applied for an additional 180-day compliance\nperiod on July 6, 2026.  If Nasdaq approves such application, the Company\nwould be granted an extended compliance period to regain compliance with the\nminimum bid price requirement. To regain compliance, the Company's ADSs must\nmaintain a closing bid price of at least US$1.00 for a minimum of 10\nconsecutive business days during the applicable compliance period.\n\n\"Our transfer to the Nasdaq Capital Market gives us maximum flexibility while\nwe continue executing our long-term strategy,\" said Nangeng Zhang, chairman\nand CEO of Canaan. \"As the convergence of AI and energy reshapes global\ncompute demand, we remain focused on building long-term shareholder value by\nexpanding our leadership in hardware manufacturing, growing our operations,\nand advancing our broader energy-plus-compute strategy. We are committed to\ntaking the necessary steps to regain compliance with the minimum bid price\nrequirement and believe the Nasdaq compliance framework provides a viable path\nto support our continued listing status.\"\n\nAbout Canaan Inc.\n\nEstablished in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company\nfocusing on ASIC high-performance computing chip design, chip research and\ndevelopment, computing equipment production, and software services. Canaan has\nextensive experience in chip design and streamlined production in the ASIC\nfield. In 2013, Canaan's founding team shipped to its customers the world's\nfirst batch of mining machines incorporating ASIC technology under the brand\nname Avalon. In 2019, Canaan completed its initial public offering on the\nNasdaq Global Market. To learn more about Canaan, please visit\nhttps://www.canaan.io/ (https://www.canaan.io/) .\n\nSafe Harbor Statement\n\nThis press release contains forward-looking statements. These statements are\nmade under the \"safe harbor\" provisions of the U.S. Private Securities\nLitigation Reform Act of 1995. These forward-looking statements can be\nidentified by terminology such as \"will,\" \"expects,\" \"anticipates,\" \"future,\"\n\"intends,\" \"plans,\" \"believes,\" \"estimates\" and similar statements. Among\nother things, the business outlook and quotations from management in this\nannouncement, as well as Canaan Inc.'s strategic and operational plans,\ncontain forward-looking statements. Canaan Inc. may also make written or oral\nforward-looking statements in its periodic reports to the U.S. Securities and\nExchange Commission (\"SEC\") on Forms 20-F and 6-K, in its annual report to\nshareholders, in press releases and other written materials and in oral\nstatements made by its officers, directors or employees to third parties.\nStatements that are not historical facts, including statements about Canaan\nInc.'s beliefs and expectations, such as expectations with regard to revenue\nor mining hash rate deployment, are forward-looking statements.\nForward-looking statements involve inherent risks and uncertainties. A number\nof factors could cause actual results to differ materially from those\ncontained in any forward-looking statement, including but not limited to the\nfollowing: the Company's goals and strategies; the Company's future business\ndevelopment, the ability of the Company to execute against its goals,\nfinancial condition and results of operations; the expected growth of the\nbitcoin industry and the price of bitcoin; the Company's expectations\nregarding demand for and market acceptance of its products, especially its\nbitcoin mining machines; the Company's expectations regarding maintaining and\nstrengthening its relationships with production partners and customers; the\nCompany's investment plans and strategies, fluctuations in the Company's\nquarterly operating results; competition in its industry; changing\nmacroeconomic and geopolitical conditions, including evolving international\ntrade policies and the implementation of increased tariffs, import\nrestrictions, and retaliatory trade actions; and relevant government policies\nand regulations relating to the Company and cryptocurrency. Further\ninformation regarding these and other risks is included in the Company's\nfilings with the SEC. All information provided in this press release and in\nthe attachments is as of the date of this press release, and Canaan Inc. does\nnot undertake any obligation to update any forward-looking statement, except\nas required under applicable law.\n\nInvestor Relations Contact\n\nCanaan Inc.\nXi Zhang\nEmail: IR@canaan-creative.com (mailto:IR@canaan-creative.com)\n\nChristensen Advisory\nChristian Arnell\nEmail: canaan@christensencomms.com (mailto:canaan@christensencomms.com)\n\nPublic Relations Contact\n\nBlocksBridge Consulting\nJesse Colzani\nEmail: canaan@blocksbridge.com (mailto:canaan@blocksbridge.com)\n\nView original\ncontent:https://www.prnewswire.com/news-releases/canaan-inc-completes-transfer-to-nasdaq-capital-market-302818713.html\n(https://www.prnewswire.com/news-releases/canaan-inc-completes-transfer-to-nasdaq-capital-market-302818713.html)\n\nSOURCE Canaan Inc.\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn1sMrzla","title":"Canaan Inc. Completes Transfer to Nasdaq Capital Market","author":"PR Newswire","ticker":"CAN","created":"2026-07-06T20:07:41.422Z","tickers":["CAN"],"exchange":"NASDAQ","article_body":"Canaan Inc. Completes Transfer to Nasdaq Capital Market\n\nPR Newswire\n\nSINGAPORE, July 6, 2026\n\nApplies for additional 180-day minimum bid price compliance period\n\nSINGAPORE, July 6, 2026 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) (\"Canaan\" or\nthe \"Company\"), an innovator in crypto mining, today announced that the\nListing Qualifications Department of The Nasdaq Stock Market LLC (\"Nasdaq\")\nhas approved the transfer of the listing of the Company's American Depositary\nShares (\"ADSs\"), each representing 15 Class A ordinary shares, from the Nasdaq\nGlobal Market to the Nasdaq Capital Market. The transfer became effective at\nthe opening of trading on July 1, 2026.\n\nThe transfer has no impact on the trading of the Company's ADSs, which\ncontinue to trade under the ticker symbol \"CAN.\" The Nasdaq Capital Market\noperates in substantially the same manner as the Nasdaq Global Market, and\ncompanies listed on The Nasdaq Capital Market must meet certain financial and\ncorporate governance requirements to qualify for continued listing.\n\nAs previously disclosed, the Company received a notice from Nasdaq on January\n14, 2026, indicating that it was not in compliance with the minimum bid price\nrequirement as the closing bid price of its ADSs remained below US$1.00 for 30\nconsecutive business days. In accordance with Nasdaq's listing rules, the\nCompany was granted an initial 180-day compliance period until July 13, 2026,\nto regain compliance. Following the transfer of its listing to the Nasdaq\nCapital Market, the Company has applied for an additional 180-day compliance\nperiod on July 6, 2026.  If Nasdaq approves such application, the Company\nwould be granted an extended compliance period to regain compliance with the\nminimum bid price requirement. To regain compliance, the Company's ADSs must\nmaintain a closing bid price of at least US$1.00 for a minimum of 10\nconsecutive business days during the applicable compliance period.\n\n\"Our transfer to the Nasdaq Capital Market gives us maximum flexibility while\nwe continue executing our long-term strategy,\" said Nangeng Zhang, chairman\nand CEO of Canaan. \"As the convergence of AI and energy reshapes global\ncompute demand, we remain focused on building long-term shareholder value by\nexpanding our leadership in hardware manufacturing, growing our operations,\nand advancing our broader energy-plus-compute strategy. We are committed to\ntaking the necessary steps to regain compliance with the minimum bid price\nrequirement and believe the Nasdaq compliance framework provides a viable path\nto support our continued listing status.\"\n\nAbout Canaan Inc.\n\nEstablished in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company\nfocusing on ASIC high-performance computing chip design, chip research and\ndevelopment, computing equipment production, and software services. Canaan has\nextensive experience in chip design and streamlined production in the ASIC\nfield. In 2013, Canaan's founding team shipped to its customers the world's\nfirst batch of mining machines incorporating ASIC technology under the brand\nname Avalon. In 2019, Canaan completed its initial public offering on the\nNasdaq Global Market. To learn more about Canaan, please visit\nhttps://www.canaan.io/ (https://www.canaan.io/) .\n\nSafe Harbor Statement\n\nThis press release contains forward-looking statements. These statements are\nmade under the \"safe harbor\" provisions of the U.S. Private Securities\nLitigation Reform Act of 1995. These forward-looking statements can be\nidentified by terminology such as \"will,\" \"expects,\" \"anticipates,\" \"future,\"\n\"intends,\" \"plans,\" \"believes,\" \"estimates\" and similar statements. Among\nother things, the business outlook and quotations from management in this\nannouncement, as well as Canaan Inc.'s strategic and operational plans,\ncontain forward-looking statements. Canaan Inc. may also make written or oral\nforward-looking statements in its periodic reports to the U.S. Securities and\nExchange Commission (\"SEC\") on Forms 20-F and 6-K, in its annual report to\nshareholders, in press releases and other written materials and in oral\nstatements made by its officers, directors or employees to third parties.\nStatements that are not historical facts, including statements about Canaan\nInc.'s beliefs and expectations, such as expectations with regard to revenue\nor mining hash rate deployment, are forward-looking statements.\nForward-looking statements involve inherent risks and uncertainties. A number\nof factors could cause actual results to differ materially from those\ncontained in any forward-looking statement, including but not limited to the\nfollowing: the Company's goals and strategies; the Company's future business\ndevelopment, the ability of the Company to execute against its goals,\nfinancial condition and results of operations; the expected growth of the\nbitcoin industry and the price of bitcoin; the Company's expectations\nregarding demand for and market acceptance of its products, especially its\nbitcoin mining machines; the Company's expectations regarding maintaining and\nstrengthening its relationships with production partners and customers; the\nCompany's investment plans and strategies, fluctuations in the Company's\nquarterly operating results; competition in its industry; changing\nmacroeconomic and geopolitical conditions, including evolving international\ntrade policies and the implementation of increased tariffs, import\nrestrictions, and retaliatory trade actions; and relevant government policies\nand regulations relating to the Company and cryptocurrency. Further\ninformation regarding these and other risks is included in the Company's\nfilings with the SEC. All information provided in this press release and in\nthe attachments is as of the date of this press release, and Canaan Inc. does\nnot undertake any obligation to update any forward-looking statement, except\nas required under applicable law.\n\nInvestor Relations Contact\n\nCanaan Inc.\nXi Zhang\nEmail: IR@canaan-creative.com (mailto:IR@canaan-creative.com)\n\nChristensen Advisory\nChristian Arnell\nEmail: canaan@christensencomms.com (mailto:canaan@christensencomms.com)\n\nPublic Relations Contact\n\nBlocksBridge Consulting\nJesse Colzani\nEmail: canaan@blocksbridge.com (mailto:canaan@blocksbridge.com)\n\nView original\ncontent:https://www.prnewswire.com/news-releases/canaan-inc-completes-transfer-to-nasdaq-capital-market-302818713.html\n(https://www.prnewswire.com/news-releases/canaan-inc-completes-transfer-to-nasdaq-capital-market-302818713.html)\n\nSOURCE Canaan Inc.\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-07-06T20:07:41.469479045Z","server_sent_at_ms":1783368461469},"received_at":"2026-07-06T20:07:41.536Z","source_url":"https://www.prnewswire.com/news-releases/canaan-inc-completes-transfer-to-nasdaq-capital-market-302818713.html"},"analysis":{"id":"70413","press_release_id":"81302","analysis_json":{"industry":{"label":"Semiconductors & Semiconductor Equipment","sector":"Information Technology"},"redFlags":["Listing transferred from Nasdaq Global Market to Nasdaq Capital Market","Failure to maintain minimum bid price of US$1.00 for 30 consecutive business days"],"eventType":"regulatory","narrative":"Canaan Inc. completed the transfer of its American Depositary Shares listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 1, 2026.\n\nThe transfer follows a notification that the company failed to comply with the minimum bid price requirement, as its ADSs closed below US$1.00 for 30 consecutive business days.\n\nFollowing the transfer, Canaan has applied for an additional 180-day compliance period to regain the required bid price and maintain its listing status.","sentiment":"bearish","agentHooks":{"shouldPost":true,"suggestedAngle":"Canaan downgrades to Nasdaq Capital Market to address sub-dollar listing compliance risk."},"keyFigures":{"customDimensions":{"min_bid_price":"US$1.00","shares_per_ads":15,"initial_compliance_period_days":180,"consecutive_days_for_compliance":10,"additional_compliance_period_days":180}},"quotedText":"Our transfer to the Nasdaq Capital Market gives us maximum flexibility while we continue executing our long-term strategy.","namedEntities":{"people":[{"name":"Nangeng Zhang","role":"Chairman and CEO"}],"products":["Avalon"],"companies":[{"name":"Canaan Inc.","ticker":"CAN"},{"name":"The Nasdaq Stock Market LLC","relationship":"stock exchange"}],"dollarAmounts":[{"amount":"US$1.00","context":"Nasdaq minimum bid price requirement"}]},"materialImpact":{"score":3,"reasoning":"Transfer to Nasdaq Capital Market signals a step down in listing tier due to failure to maintain the $1.00 minimum bid price. While the move provides a path to avoid delisting via a new compliance period, it reflects underlying weakness in the share price."},"tickerRelevance":{"others":[],"primary":"CAN"},"globalImportance":20,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"listing-downgrade","sectorWeight":"niche-hardware"}},"event_type":"regulatory","event_type_secondary":null,"sentiment":"bearish","material_impact_score":3,"narrative":"Canaan Inc. completed the transfer of its American Depositary Shares listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 1, 2026.\n\nThe transfer follows a notification that the company failed to comply with the minimum bid price requirement, as its ADSs closed below US$1.00 for 30 consecutive business days.\n\nFollowing the transfer, Canaan has applied for an additional 180-day compliance period to regain the required bid price and maintain its listing status.","key_figures":{"customDimensions":{"min_bid_price":"US$1.00","shares_per_ads":15,"initial_compliance_period_days":180,"consecutive_days_for_compliance":10,"additional_compliance_period_days":180}},"named_entities":{"people":[{"name":"Nangeng Zhang","role":"Chairman and CEO"}],"products":["Avalon"],"companies":[{"name":"Canaan Inc.","ticker":"CAN"},{"name":"The Nasdaq Stock Market LLC","relationship":"stock exchange"}],"dollarAmounts":[{"amount":"US$1.00","context":"Nasdaq minimum bid price requirement"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-06T20:19:30.847Z","global_importance":20,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"listing-downgrade","sectorWeight":"niche-hardware"}},"durationMs":93662,"modelName":"george-droid-qwen-72b"}}