Canaan Inc. Announces the Departure of Two of Its Directors
August 04 2020 - 7:00AM
Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading
high-performance computing solutions provider, today announced that
Mr. Jianping Kong (“Mr. Kong”) and Mr. Qifeng Sun (“Mr. Sun”) no
longer serve as directors on the board of the directors of the
Company (the “Board”) upon the expiration of their respective terms
of office on July 31, 2020.
Mr. Kong and Mr. Sun will not seek appointments
nor stand for elections to the Board following the expiration of
their respective terms of office.
The Company would like to express its gratitude
to Mr. Kong and Mr. Sun for their long-term contributions to the
Company and wish them well in their future endeavors.
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 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.
Investor Relations
ContactCanaan Inc.Mr. Shaoke LiTel:
+86-137-5090-0683Email: IR@canaan-creative.com
ICR Inc.Jack WangTel: +1 (347) 396-3281Email:
canaan.ir@icrinc.com
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