BEIJING, Sept. 13, 2021 /PRNewswire/ -- Canaan Inc.
(NASDAQ: CAN) ("Canaan" or the "Company"), a leading
high-performance computing solutions provider, today announced that
it has dismissed PricewaterhouseCoopers Zhong Tian LLP ("PwC")
as the Company's independent auditor on September 9, 2021 and has approved the
appointment of KPMG Huazhen LLP ("KPMG") as the independent auditor
of the Company, effective September 13,
2021.
The change of the Company's independent auditor was made after
careful consideration and evaluation process and was approved by
the Audit Committee and the Board of Directors of the Company.
The reports of PwC on the Company's consolidated financial
statements as of and for the years ended December 31, 2020 and 2019 did not contain an
adverse opinion or a disclaimer of opinion and were not qualified
or modified as to uncertainty, audit scope, or accounting
principle. During the two most recent fiscal years ended
December 31, 2020, and through the
subsequent interim period through September
9, 2021, there were (i) no disagreements, as defined in Item
16F(a)(1)(iv) of Form 20-F and the related instructions thereto,
between the Company and PwC on any matter of accounting principles
or practices, financial statement disclosure, or auditing scope or
procedures, which, if not resolved to PwC's satisfaction, would
have caused PwC to make reference thereto in their report on the
financial statements for such year, and (ii) no "reportable events"
(as defined set forth in Item 16F (a)(1)(v) of Form 20-F) other
than the material weaknesses reported by management in Item 15 of
the Company's Form 20-F filed with the U.S. Securities and Exchange
Commission (the "Commission") on April 21,
2021.
During the Company's two most recent fiscal years ended
December 31, 2020 and the subsequent
interim period through September 9,
2021, neither the Company nor anyone acting on its behalf
consulted with KPMG regarding any of the matters described in Item
16F(a)(2)(i) and (ii) of Form 20-F.
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 ASIC 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 Commission 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 Commission, 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, LLC
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.