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Nasdaq notifies Canaan Inc.: Must meet minimum bid price requirement within 180 days

Canaan Inc. received a written notice from the Nasdaq Stock Market on May 13, 2025, stating that the company does not meet the requirements of Nasdaq Listing Rule 5550(a)(2) because the closing price of its American Depositary Shares has been below $1.00 per share for the previous 30 consecutive trading days. According to Nasdaq Listing Rule 5810(c)(3)(A), Canaan Inc. is allowed a compliance period of 180 calendar days (i.e., until November 10, 2025) to regain compliance with the minimum bid price requirement, meaning its American Depositary Shares must close at or above $1.00 per share for at least 10 consecutive trading days within the 180-day compliance period. It is noted that the Nasdaq notice does not have a direct impact on the listing or trading of the company's securities on Nasdaq. $ETH