BEIJING, Aug. 2, 2021
/PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the
"Company"), a leading high-performance computing solutions
provider, today announced the appointment of Mr. James Jin Cheng to the position of Chief
Financial Officer, effective immediately. Mr. Tong He will cease to
serve as the Company's acting Chief Financial Officer but will
maintain his position as the Company's Director of Finance.
Mr. Cheng has more than 20 years of experience in financial
planning and management. Prior to joining Canaan, Mr. Cheng served
as a Vice President for Zhaopin.com, a career platform in
China formerly listed on the NYSE,
from September 2015 to July 2021. Between September 2013 to September 2015, Mr. Cheng worked as the Director
of Finance for Lenovo's China and
Asia Pacific Division. From February
2005 to August 2013, Mr. Cheng
held several managerial roles at Nokia China, such as senior sales
finance controller. From March 2003
to January 2005, Mr. Cheng worked as
a demand planning manager at Effem Foods Beijing, a Mars company.
Mr. Cheng obtained his bachelor's degree in accounting from
Shanghai Jiao Tong University in 2000, his MBA degree from the
BiMBA program at Peking University in 2014, and his Master of
Science in Global Finance degree from Fordham
University in New York in
2014. Mr. Cheng has been a fellow member of the Chartered Institute
of Management Accountants (CIMA) since 2016 and a fellow member of
the Institute of Public Accountants (IPA) since 2019.
Mr. Nangeng Zhang, Chairman and Chief Executive Officer of
Canaan, commented, "On behalf of the Company and the board, I would
like to extend a warm welcome to James. His extensive experience
and integrated expertise in finance and capital markets, as well as
his in-depth insights into the electronics industry, will add great
value to the Company. We look forward to working with James as we
launch into our new growth cycle. We would also like to express our
thanks to Mr. Tong He for his dedication and hard work as interim
CFO, and we believe that he will continue to make meaningful
contributions to the Company going forward."
About Canaan Inc.
Established in 2013, Canaan (NASDAQ: CAN), is a technology
company focusing on ASIC high-performance computing chip design,
chip research and development, computing equipment production and
software services. The company's vision is "super computing is what
we do, social enrichment is why we do". Canaan has a rich
experience in chip design and streamlined production in the ASIC
field. In 2013, it released and mass produced its first ASIC
Bitcoin mining machine. In 2018, Canaan released the world's first
7nm ASIC chip, providing energy efficient computing equipment to
the cryptocurrency mining industry. In the same year, Canaan
released the world's first RISC-V architecture commercial edge AI
chip, further harnessing the potential of AISC technology in the
field of high-performance computing and artificial
intelligence.
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 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 Contact
Canaan Inc.
Mr. Shaoke Li
Email: IR@canaan-creative.com
ICR Inc.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.