Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading
high-performance computing solutions provider, today announced its
unaudited financial results for the three months ended September
30, 2020.
Third Quarter 2020 Operating and
Financial Highlights
Total computing power sold in
the third quarter of 2020 was 2.9 million Thash/s, representing a
year-over-year decrease of 20.7% from 3.7 million Thash/s in the
same period of 2019 and a quarter-over-quarter increase of 13.4%
from 2.6 million Thash/s in the second quarter of
2020.Total net revenues in the third quarter of
2020 was RMB163.0 million (US$24.0 million), representing a
year-over-year decrease of 75.7% from RMB670.6 million in the same
period of 2019 and a quarter-over-quarter decrease of 8.5% from
RMB178.1 million in the second quarter of 2020.Gross
loss in the third quarter of 2020 was RMB17.0 million
(US$2.5 million) compared to gross profit of RMB146.2 million in
the same period of 2019 and gross profit of RMB43.3 million in the
second quarter of 2020. Net loss in the third
quarter of 2020 was RMB86.4 million (US$12.7 million) compared to
net income of RMB94.6 million in the same period of 2019 and net
loss of RMB16.8 million in the second quarter of
2020.Non-GAAP adjusted net loss in the third
quarter of 2020 was RMB84.8 million (US$12.5 million) compared to
Non-GAAP adjusted net income of RMB96.2 million in the same period
of 2019 and Non-GAAP adjusted net loss of RMB16.0 million in the
second quarter of 2020.
Mr. Nangeng Zhang, Chairman and Chief Executive
Officer of Canaan, commented, “During the third quarter of 2020, we
remained undeterred by the pandemic to strengthen our research and
development capabilities, expand our AI business, and execute new
business initiatives. By leveraging our enhanced R&D
capabilities in the third quarter, we launched our A1246 product
series, which continues to lead the industry with its energy
efficiency, computing power, and unit cost. In addition, we have
also accelerated the monetization of our AI business through our
partnerships with a number of companies in various industries, such
as online education and smart city solutions. In the third quarter
of 2020, for example, we implemented our K210 AI chips in hardware
sensors from our partner to better ensure the proper execution of
social distancing practices in response to the outbreak of
COVID-19. With new generations of mining machines and AI chips in
the pipeline, we are confident that the enhanced performance of our
new products will continue to bolster our competitive advantages
and solidify our market leadership going forward.”
Mr. Quanfu Hong, Chief Financial Officer of
Canaan, stated, “The pandemic and resulting macroeconomic
uncertainties continued to impact the production capacity of the
global IC industry in the third quarter of 2020. However, the
demand for mining machines in the market continued to rebound
during the third quarter, and we have received a large number of
pre-sale orders which are scheduled for delivery starting in the
fourth quarter of 2020. Looking ahead, we remain committed to
investing in areas that will further strengthen our collaboration
with established IC manufacturers, enhance our inventory
management, streamline our research and development initiatives,
and generate lasting value for our shareholders.”
Third Quarter 2020 Financial
Results
Total net revenues in the third
quarter of 2020 was RMB163.0 million (US$24.0 million),
representing a 75.7% year-over-year decrease from RMB670.6 million
in the same period of 2019 and a 8.5% quarter-over-quarter decrease
from RMB178.1 million in the second quarter of 2020. The
year-over-year decrease was mainly due to the decreases in total
computing power sold and average selling price per Thash/s. The
quarter-over-quarter decrease was mainly due to the decrease in
average selling price per Thash/s.
Cost of revenues in the third
quarter of 2020 was RMB180.0 million (US$26.5 million) compared to
RMB524.4 million in the same period of 2019 and RMB134.8 million in
the second quarter of 2020. The year-over-year decrease was in line
with the changes in the Company’s sales volume of Thash and cost
per Thash. The quarter-over-quarter increase was mainly due to an
inventory write-down of RMB44.9 million (US$6.6 million) and the
increase in sales volume.
Gross loss in the third quarter
of 2020 was RMB17.0 million (US$2.5 million) compared to gross
profit of RMB146.2 million in the same period of 2019 and gross
profit of RMB43.3 million in the second quarter of 2020.
Total operating expenses in the
third quarter of 2020 was RMB75.9 million (US$11.2 million),
representing a year-over-year increase of 4.4% from RMB72.7 million
in the same period of 2019 and a quarter-over-quarter increase of
22.0% from RMB62.2 million in the second quarter of 2020.
Research and development expenses in the third
quarter of 2020 were RMB32.1 million (US$4.7 million), representing
a year-over-year decrease of 15.8% from RMB38.1 million in the same
period of 2019 and a quarter-over-quarter increase of 23.2% from
RMB26.1 million in the second quarter of 2020. The year-over-year
decrease and quarter-over-quarter increase were mainly due to the
changes in materials that the Company used for research and
development purposes. As a percentage of total net revenues,
research and development expenses in the third quarter of 2020
increased to 19.7% from 5.7% in the same period of 2019 and from
14.6% in the second quarter of 2020.
Selling and marketing expenses in the third
quarter of 2020 were RMB3.2 million (US$0.5 million), representing
a year-over-year decrease of 49.4% from RMB6.3 million in the same
period of 2019 and a quarter-over-quarter decrease of 51.2% from
RMB6.5 million in the second quarter of 2020. The decreases were
mainly due to the decreased salaries of the staff in the Company’s
sales and marketing departments. As a percentage of total net
revenues, sales and marketing expenses in the third quarter of 2020
was 2.0% compared to 0.9% in the same period of 2019 and 3.7% in
the second quarter of 2020.
General and administrative expenses in the third
quarter of 2020 were RMB40.6 million (US$6.0 million) compared to
RMB28.2 million in the same period of 2019 and RMB29.6 million in
the second quarter of 2020. The increases were mainly due to the
increases in salary, professional service charges, and other daily
administrative expenses. As a percentage of total net revenues,
general and administrative expenses in the third quarter of 2020
was 24.9% compared to 4.2% in the same period of 2019 and 16.6% in
the second quarter of 2020.
Loss from operations in the
third quarter of 2020 was RMB92.9 million (US$13.7 million)
compared to income from operations of RMB73.5 million in the same
period of 2019 and loss from operations of RMB18.9 million in the
second quarter of 2020.
Net loss attributable to ordinary
shareholders in the third quarter of 2020 was RMB86.4
million (US$12.7 million) compared to net income attributable to
ordinary shareholders of RMB94.6 million in the same period of 2019
and net loss attributable to ordinary shareholders of RMB16.8
million in the second quarter of 2020.
Non-GAAP adjusted net loss in
the third quarter of 2020 was RMB84.8 million (US$12.5 million)
compared to non-GAAP adjusted net income of RMB96.2 million in the
same period of 2019 and non-GAAP adjusted net loss of RMB16.0
million in the second quarter of 2020. Non-GAAP adjusted net loss
excludes share-based compensation expense. For further information,
please refer to "Use of Non-GAAP Financial Measures" in this
release.
Basic and diluted net loss per
ADS in the third quarter of 2020 were both RMB0.55
(US$0.08). In comparison, basic and diluted net earnings per ADS in
the same period of 2019 were both RMB0.65. Basic and diluted net
loss per ADS in the second quarter of 2020 were both RMB0.11. Each
ADS represents 15 of the Company's Class A ordinary shares.
As of September 30, 2020, the Company had
cash and cash equivalents of RMB177.4 million
(US$26.1 million) compared to RMB516.6 million as of December 31,
2019. The decrease was mainly due to higher short-term investments
as the Company had invested RMB204.6 million (US$30.1 million) in
short-term investments as of September 30, 2020, compared with
RMB11.0 million in short-term investments as of December 31, 2019.
The company purchased short-term financial products to receive
higher returns but at the same time can withdraw at any time.
Business
Outlook
Due to the continued uncertainty from the
rapidly changing global environment related to the COVID-19
pandemic and the corresponding economic downturn, the Company will
not issue any financial guidance in the near term.
Conference Call
Information
The Company’s management team will hold a Direct
Event conference call on Monday, November 30, 2020, at 7:00 A.M.
Eastern Time (or 8:00 P.M. Beijing Time on the same day) to discuss
the financial results. Details for the conference call are as
follows:
Event
Title: |
Canaan Inc.
Third Quarter 2020 Earnings Conference Call |
Registration Link: |
http://apac.directeventreg.com/registration/event/3299694 |
All participants must use the link provided
above to complete the online registration process in advance of the
conference call. Upon registering, each participant will receive a
set of participant dial-in numbers, the Direct Event passcode, and
a unique access PIN, which can be used to join the conference
call.
A replay of the conference call will be
accessible through December 8, 2020, by dialing the following
numbers:
International: |
+61-2-8199-0299 |
United States: |
+1-646-254-3697 |
Hong Kong, China: |
+852-3051-2780 |
Replay PIN: |
3299694# |
A live and archived webcast of the conference
call will also be available at the Company’s investor relations
website at investor.canaan-creative.com.
About Canaan
Inc.
Established in 2013, Canaan Inc. provides
high-performance computing solutions to efficiently solve complex
problems. In 2016, Canaan successfully initiated the production of
its first 16nm chip and passed the test to receive China's national
high-tech enterprise certification. In 2018, Canaan achieved major
technological breakthroughs to launch the K210, the world's
first-ever RISC-V-based edge artificial intelligence (AI) chip,
which is now widely used for access control in situations such as
smart door locks and more. Canaan Inc. is currently focused on the
research and development of advanced technology, including such
areas as AI chips, AI algorithms, AI architectures, system on a
chip (SoC) integration and chip integration. Using the AI chip as
its base, Canaan Inc. has established an intellectual value chain.
Canaan Inc. also provides a suite of AI service solutions and is
able to tailor these solutions to the needs of its partners. For
more information, please visit: investor.canaan-creative.com.
Exchange Rate
Information
This announcement contains translations of
certain RMB amounts into U.S. dollars ("US$") at specified rates
solely for the convenience of the reader. Unless otherwise stated,
all translations from RMB to US$ were made at the rate of RMB6.7896
to US$1.00, the noon buying rate in effect on September 30, 2020,
in the H.10 statistical release of the Federal Reserve Board. The
Company makes no representation that the RMB or US$ amounts
referred could be converted into US$ or RMB, as the case may be, at
any particular rate or at all.
Safe Harbor
Statement
This announcement contains forward−looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward−looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates” and similar statements.
Among other things, the business outlook and quotations from
management in this announcement, as well as Canaan Inc.’s strategic
and operational plans, contain forward−looking statements. Canaan
Inc. may also make written or oral forward−looking statements in
its periodic reports to the U.S. Securities and Exchange Commission
(“SEC”) on Forms 20−F and 6−K, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Canaan Inc.’s beliefs and expectations, are
forward−looking statements. Forward−looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward−looking statement, including but not limited to the
following: the Company’s goals and strategies; the Company’s future
business development, financial condition and results of
operations; the expected growth of the Bitcoin industry and the
price of Bitcoin; the Company’s expectations regarding demand for
and market acceptance of its products, especially its Bitcoin
mining machines; the Company’s expectations regarding maintaining
and strengthening its relationships with production partners and
customers; the Company’s investment plans and strategies,
fluctuations in the Company’s quarterly operating results;
competition in its industry in China; and relevant government
policies and regulations relating to the Company and
cryptocurrency. Further information regarding these and other risks
is included in the Company’s filings with the SEC, including its
registration statement on Form F−1, as amended, and its annual
reports on Form 20−F. All information provided in this press
release and in the attachments is as of the date of this press
release, and Canaan Inc. does not undertake any obligation to
update any forward−looking statement, except as required under
applicable law.
Use of NonGAAP Financial
Measures
In evaluating Canaan’s business, the Company
considers and uses adjusted net income as a supplemental measure to
review and assess its operating performance. The presentation of
this non-GAAP financial measure is not intended to be considered in
isolation or as a substitute for financial information prepared and
presented in accordance with U.S. GAAP. The Company defines
adjusted net loss as net loss, excluding sharebased compensation
expense.
Canaan believes that adjusted net income helps
to identify underlying trends in the Company’s business that could
otherwise be distorted by the effect of the expenses that the
Company excludes in adjusted net income. The Company believes that
adjusted net income provides useful information about our operating
results, enhances the overall understanding of Canaan’s past
performance and future prospects and allows for greater visibility
with respect to key metrics used by the Company’s management in its
financial and operational decision-making.
The non-GAAP financial measure “adjusted net
loss” is not defined under U.S. GAAP, is not presented in
accordance with U.S. GAAP and has limitations as an analytical
tool. One of the key limitations of using adjusted net loss is that
it does not reflect all of the items of income and expense that
affect the Company’s operations. Share-based compensation has been
and may continue to be incurred in Canaan’s business and is not
reflected in the presentation of adjusted net loss. Further, the
non-GAAP financial measure “adjusted net loss” may differ from the
non-GAAP information used by other companies, including peer
companies, and therefore their comparability may be limited.
Investor Relations
Contact
Canaan Inc.Mr. Shaoke LiEmail:
IR@canaan-creative.com
ICR Inc.Jack WangTel: +1 (347) 396-3281Email:
canaan.ir@icrinc.com
CANAAN INC. UNAUDITED CONSOLIDATED BALANCE
SHEETS (all amounts in thousands of RMB, except
share and per share data, or as otherwise noted) |
|
|
|
As ofDecember 31, |
|
|
As of September 30, |
|
|
|
2019 |
|
|
2020 |
|
|
2020 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
516,607 |
|
|
|
177,363 |
|
|
|
26,123 |
|
Restricted cash |
|
|
8,239 |
|
|
|
4,479 |
|
|
|
660 |
|
Short-term investments |
|
|
11,005 |
|
|
|
204,570 |
|
|
|
30,130 |
|
Accounts receivable |
|
|
2,872 |
|
|
|
348 |
|
|
|
51 |
|
Inventories |
|
|
196,067 |
|
|
|
53,284 |
|
|
|
7,848 |
|
Prepayments and other current
assets |
|
|
206,020 |
|
|
|
246,319 |
|
|
|
36,278 |
|
Total current
assets |
|
|
940,810 |
|
|
|
686,363 |
|
|
|
101,090 |
|
Non-current
assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Property, equipment and
software |
|
|
22,602 |
|
|
|
14,602 |
|
|
|
2,151 |
|
Right-of-use assets, net |
|
|
22,764 |
|
|
|
18,819 |
|
|
|
2,772 |
|
Non-current financial
investments |
|
|
— |
|
|
|
2,500 |
|
|
|
368 |
|
Other non-current assets |
|
|
5,250 |
|
|
|
2,520 |
|
|
|
371 |
|
Total non-current
assets |
|
|
50,616 |
|
|
|
38,441 |
|
|
|
5,662 |
|
Total
assets |
|
|
991,426 |
|
|
|
724,804 |
|
|
|
106,752 |
|
LIABILITIES, AND
SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Short-term debts |
|
|
99,903 |
|
|
|
34,656 |
|
|
|
5,104 |
|
Accounts payable |
|
|
99,050 |
|
|
|
10,555 |
|
|
|
1,555 |
|
Notes payable |
|
|
27,462 |
|
|
|
14,050 |
|
|
|
2,069 |
|
Contract liabilities |
|
|
8,288 |
|
|
|
75,612 |
|
|
|
11,136 |
|
Accrued liabilities and other
current liabilities |
|
|
40,691 |
|
|
|
23,213 |
|
|
|
3,419 |
|
Lease liabilities, current |
|
|
9,838 |
|
|
|
8,110 |
|
|
|
1,195 |
|
Total current
liabilities |
|
|
285,232 |
|
|
|
166,196 |
|
|
|
24,478 |
|
Non-current
liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Lease liabilities,
non-current |
|
|
13,399 |
|
|
|
6,246 |
|
|
|
920 |
|
Other non-current
liabilities |
|
|
— |
|
|
|
8,913 |
|
|
|
1,313 |
|
Total non-current
liabilities |
|
|
13,399 |
|
|
|
15,159 |
|
|
|
2,233 |
|
Total
liabilities |
|
|
298,631 |
|
|
|
181,355 |
|
|
|
26,711 |
|
Shareholders’
equity: |
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares (US$0.00000005
par value; 1,000,000,000,000 shares authorized,
2,372,222,222 shares issued, 2,350,123,270 and
2,348,623,525 shares outstanding as of December 31, 2019 and
September 30, 2020, respectively) |
|
|
1 |
|
|
|
1 |
|
|
|
— |
|
Subscriptions receivable from
shareholders |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
— |
|
Treasury stocks (US$0.00000005
par value; 22,098,952 and 23,598,697 shares as of
December 31, 2019 and September 30, 2020, respectively) |
|
|
— |
|
|
|
(1,320 |
) |
|
|
(194 |
) |
Additional paid-in capital |
|
|
1,631,609 |
|
|
|
1,635,719 |
|
|
|
240,915 |
|
Statutory reserves |
|
|
97,307 |
|
|
|
97,307 |
|
|
|
14,332 |
|
Accumulated other comprehensive
loss |
|
|
(55,542 |
) |
|
|
(64,541 |
) |
|
|
(9,506 |
) |
Accumulated deficit |
|
|
(980,579 |
) |
|
|
(1,123,716 |
) |
|
|
(165,506 |
) |
Total
shareholders’
equity |
|
|
692,795 |
|
|
|
543,449 |
|
|
|
80,041 |
|
Total liabilities and
shareholders’
equity |
|
|
991,426 |
|
|
|
724,804 |
|
|
|
106,752 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CANAAN INC. UNAUDITED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE LOSS(all amounts in
thousands of RMB, except share and per share data, or as otherwise
noted) |
|
|
|
For the Three Months Ended |
|
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
|
2019 |
|
|
2020 |
|
|
2020 |
|
|
2020 |
|
|
|
RMB |
|
RMB |
|
|
RMB |
|
|
US$ |
|
Net revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products revenue |
|
|
656,930 |
|
|
|
162,925 |
|
|
|
159,727 |
|
|
23,525 |
|
Leases revenue |
|
|
13,281 |
|
|
|
15,109 |
|
|
|
2,860 |
|
|
421 |
|
Services revenue |
|
|
401 |
|
|
|
57 |
|
|
|
151 |
|
|
22 |
|
Other revenue |
|
|
— |
|
|
|
35 |
|
|
|
303 |
|
|
45 |
|
Total net
revenue |
|
|
670,612 |
|
|
|
178,126 |
|
|
|
163,041 |
|
|
24,013 |
|
Cost of revenue |
|
|
(524,402 |
) |
|
|
(134,849 |
) |
|
|
(180,033 |
) |
|
(26,516 |
) |
Gross profit
(loss) |
|
|
146,210 |
|
|
|
43,277 |
|
|
|
(16,992 |
) |
|
(2,503 |
) |
Operating
expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
expenses |
|
|
(38,146 |
) |
|
|
(26,073 |
) |
|
|
(32,117 |
) |
|
(4,730 |
) |
Selling and marketing
expenses |
|
|
(6,285 |
) |
|
|
(6,520 |
) |
|
|
(3,181 |
) |
|
(469 |
) |
General and administrative
expenses |
|
|
(28,232 |
) |
|
|
(29,587 |
) |
|
|
(40,561 |
) |
|
(5,974 |
) |
Total operating
expenses |
|
|
(72,663 |
) |
|
|
(62,180 |
) |
|
|
(75,859 |
) |
|
(11,173 |
) |
Income (loss) from
operations |
|
|
73,547 |
|
|
|
(18,903 |
) |
|
|
(92,851 |
) |
|
(13,676 |
) |
Interest income |
|
|
1,197 |
|
|
|
873 |
|
|
|
283 |
|
|
42 |
|
Investment income |
|
|
1,741 |
|
|
|
1,923 |
|
|
|
1,963 |
|
|
289 |
|
Interest expense |
|
|
(2,259 |
) |
|
|
(1,519 |
) |
|
|
(785 |
) |
|
(116 |
) |
Foreign exchange gain |
|
|
4,540 |
|
|
|
80 |
|
|
|
2,066 |
|
|
304 |
|
Value added tax refunds |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
— |
|
Others, net |
|
|
15,859 |
|
|
|
831 |
|
|
|
2,942 |
|
|
433 |
|
Income (loss) before
income tax expenses |
|
|
94,625 |
|
|
|
(16,715 |
) |
|
|
(86,382 |
) |
|
(12,724 |
) |
Income tax expense |
|
|
— |
|
|
|
(72 |
) |
|
|
(24 |
) |
|
(3 |
) |
Net income
(loss) |
|
|
94,625 |
|
|
|
(16,787 |
) |
|
|
(86,406 |
) |
|
(12,727 |
) |
Foreign currency translation
adjustment, net of nil tax |
|
|
(3,486 |
) |
|
|
(81 |
) |
|
|
(15,402 |
) |
|
(2,268 |
) |
Total comprehensive
income (loss) |
|
|
91,139 |
|
|
|
(16,868 |
) |
|
|
(101,808 |
) |
|
(14,995 |
) |
Weighted average number
of shares used in per share
calculation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— Basic |
|
|
2,170,195,065 |
|
|
|
2,350,123,270 |
|
|
|
2,350,115,118 |
|
|
2,350,115,118 |
|
— Diluted |
|
|
2,185,428,631 |
|
|
|
2,350,123,270 |
|
|
|
2,350,115,118 |
|
|
2,350,115,118 |
|
Net earnings (loss) per
share (cent per share) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— Basic |
|
|
4.36 |
|
|
|
(0.71 |
) |
|
|
(3.68 |
) |
|
(0.54 |
) |
— Diluted |
|
|
4.33 |
|
|
|
(0.71 |
) |
|
|
(3.68 |
) |
|
(0.54 |
) |
Share-based compensation
expenses were included
in: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
expenses |
|
|
9 |
|
|
|
132 |
|
|
|
1,025 |
|
|
151 |
|
Sales and marketing expenses |
|
|
110 |
|
|
|
11 |
|
|
|
11 |
|
|
2 |
|
General and administrative
expenses |
|
|
1,422 |
|
|
|
600 |
|
|
|
600 |
|
|
88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The table below sets forth a reconciliation of
net loss to non-GAAP adjusted net loss for the period
indicated:
|
|
For the Three Months Ended |
|
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
|
|
2019 |
|
|
2020 |
|
|
2020 |
|
|
2020 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
Net income (loss) |
|
|
94,625 |
|
|
|
(16,787 |
) |
|
|
(86,406 |
) |
|
(12,727 |
) |
Add: Share-based compensation
expense |
|
|
1,541 |
|
|
|
743 |
|
|
|
1,636 |
|
|
241 |
|
Non-GAAP adjusted net income
(loss) |
|
|
96,166 |
|
|
|
(16,044 |
) |
|
|
(84,770 |
) |
|
(12,486 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canaan (NASDAQ:CAN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Canaan (NASDAQ:CAN)
Historical Stock Chart
From Sep 2023 to Sep 2024