Canaan Announces Partnership with Cathay to Launch AI Facial Recognition Module and AI Chip in Japan
April 23 2021 - 7:00AM
Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading
high-performance computing solutions provider, today announced that
it has entered into a partnership (the “Partnership”) with Cathay
Tri-Tech., Inc. (“Cathey”) to introduce its AI facial recognition
module, which utilizes its Kendryte K210 AI chip, to the Japanese
market. Since establishing the partnership, Canaan’s international
customer base now covers the United States, Japan, South Korea,
Germany, Israel, and other countries across the globe.
Founded in 1993 and headquartered in Japan,
Cathay has been involved in the development, design, manufacturing,
and production of embedded software and products for mobile
communications terminals and Internet of Things (“IoT”) M2M
(“Machine-to-Machine”) devices, including cloud servers.
Canaan’s AI facial recognition module uses the
Company’s self-developed Kendryte K210 AI chip, which was designed
specifically for processing machine vision tasks, such as facial
and image recognition, as well as different areas of audio
processing. Due to its small size and low power consumption,
Canaan’s AI facial recognition module maintains a variety of
application scenarios, including facial recognition vending
machines, smart access controls, smart door locks, and elevator
control systems. The Company’s Kendryte K210 AI chip and AI facial
recognition module will be the first edge computing, C-series of AI
products sold by Cathay. To develop the C-series edge computing AI
products, Cathay will provide EVB evaluation boards, SDKs, and
reference circuit designs.
Canaan will explore new application scenarios
for its AI solutions through its collaborations with Cathay.
Conscious of developer challenges, Canaan has provided developers
with a wide array of tools to ensure that its AI facial recognition
module can be adapted for a large number of application scenarios.
In addition, Cathay plans to utilize Canaan’s AI facial recognition
module and its existing IoT product line to develop an Artificial
Intelligence of Things (“AIoT”) product line. As such, Cathay will
continue to provide high-value products and services alongside its
SIMCom communications module.
Mr. Nangeng Zhang, Chairman and Chief Executive
Officer of Canaan, commented, “The increasingly attractive nature
of our AI solutions has enabled us to forge a partnership with
Cathay, expand our international coverage, and explore more
applications of our AI solutions. Compared with other AI facial
recognition modules, our module is quite competitive both in terms
of size and power consumption. In addition, our AI facial
recognition module has a recognition accuracy of more than 99.6%.
Looking ahead, we believe that our ongoing development and
refinement of our AI solutions will allow us to establish more
win-win relationships with companies overseas.”
About Cathay Tri-Tech., Inc
Established in 1993, Cathay is headquartered in Yokohama, Japan,
and is a subsidiary of THine Electronics, Inc. Cathay develops,
designs, and manufactures mobile communications software and mobile
communications equipment. Since 2013, Cathay has been involved in
the development, design, manufacturing, and production of embedded
software and products for mobile communications terminals and IoT
M2M (“Machine-to-Machine”) devices, including cloud servers. Cathay
also provides maintenance services and consulting services.
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.
Safe Harbor StatementThis
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
equipment; 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.
Investor Relations
ContactCanaan Inc.Mr. Shaoke LiEmail:
IR@canaan-creative.com
ICR Inc.Jack WangTel: +1 (347) 396-3281Email:
canaan.ir@icrinc.com
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