Canaan Inc. Receives Nasdaq Notification Regarding Minimum Bid Requirements

kAmx? E96 6G6?E E96 r@>A2?J 5@6D ?@E C682:? 4@>A=:2?46 3J kDA2? 4=2DDlQI?\49C@?Qm}@G6>36C `_[ a_adk^DA2?m[ DF3;64E E@ E96 56E6C>:?2E:@? 3J E96 DE277 @7 }2D52B[ E96 r@>A2?J >2J 36 6=:8:3=6 7@C 2? 255:E:@?2= `g_\42=6?52C\52J 4@>A=:2?46 A6C:@5] %@ BF2=:7J 7@C E9:D 255:E:@?2= E:>6[ E96 r@>A2?J H:== 36 C6BF:C65 E@ >66E E96 4@?E:?F65 =:DE:?8 C6BF:C6>6?E 7@C >2C<6E G2=F6 @7 AF3=:4=J 96=5 D92C6D 2?5 2== @E96C :?:E:2= =:DE:?8 DE2?52C5D 7@C %96 }2D52B r2A:E2= |2C<6E H:E9 E96 6I46AE:@? @7 E96 >:?:>F> 3:5 AC:46 C6BF:C6>6?E 2?5 H:== ?665 E@ AC@G:56 HC:EE6? ?@E:46 @7 :ED :?E6?E:@? E@ 4FC6 E96 567:4:6?4J 5FC:?8 E96 D64@?5 4@>A=:2?46 A6C:@5] x7 E96 r@>A2?J 5@6D ?@E C682:? 4@>A=:2?46 H:E9:? E96 2==@EE65 4@>A=:2?46 A6C:@5WDX[ :?4=F5:?8 2?J 6IE6?D:@?D E92E >2J 36 8C2?E65 3J }2D52B[ }2D52B H:== AC@G:56 ?@E:46 E92E E96 r@>A2?JVD ps$D H:== 36 DF3;64E E@ 56=:DE:?8]k^Am

kAm%96 r@>A2?J :?E6?5D E@ 4@?E:?F6 >@?:E@C:?8 E96 4=@D:?8 3:5 AC:46 @7 :ED ps$D 2?5 H:== E2<6 2== C62D@?23=6 >62DFC6D :? @C56C E@ C682:? 4@>A=:2?46 H:E9 E96 }2D52B >:?:>F> 3:5 AC:46 C6BF:C6>6?E] %96 r@>A2?JVD ps$D H:== 4@?E:?F6 E@ 36 =:DE65 2?5 EC256 @? E96 }2D52B v=@32= |2C<6E 5FC:?8 E96 4@>A=:2?46 A6C:@5[ F?27764E65 3J E96 C646:AE @7 E96 }@E:46 7C@> }2D52B]k^Am

kAm%9:D 2??@F?46>6?E :D >256 :? 4@>A=:2?46 H:E9 }2D52B {:DE:?8 #F=6 dg`_W3X[ H9:49 C6BF:C6D AC@>AE 5:D4=@DFC6 @7 C646:AE @7 2 567:4:6?4J ?@E:7:42E:@?]k^Am

kAmkDEC@?8mp3@FE r2?22? x?4]k^DEC@?8mk^Am

kAmtDE23=:D965 :? a_`b[ r2?22? x?4] W}p$sp"i rp}X[ :D 2 E649?@=@8J 4@>A2?J 7@4FD:?8 @? kDA2?mp$xrk^DA2?m 9:89\A6C7@C>2?46 4@>AFE:?8 49:A 56D:8?[ 49:A C6D62C49 2?5 56G6=@A>6?E[ 4@>AFE:?8 6BF:A>6?E AC@5F4E:@?[ 2?5 D@7EH2C6 D6CG:46D] r2?22? 92D 6IE6?D:G6 6IA6C:6?46 :? 49:A 56D:8? 2?5 DEC62>=:?65 AC@5F4E:@? :? E96 kDA2?mp$xrk^DA2?m 7:6=5] x? a_`b[ r2?22?VD 7@F?5:?8 E62> D9:AA65 E@ :ED 4FDE@>6CD E96 H@C=5VD 7:CDE 32E49 @7 >:?:?8 >249:?6D :?4@CA@C2E:?8 kDA2?mp$xrk^DA2?m E649?@=@8J :? kDA2?m3:E4@:?k^DA2?mVD 9:DE@CJ F?56C E96 3C2?5 ?2>6 pG2=@?] x? a_`h[ r2?22? 4@>A=6E65 :ED :?:E:2= AF3=:4 @776C:?8 @? E96 }2D52B v=@32= |2C<6E] %@ =62C? >@C6 23@FE r2?22?[ A=62D6 G:D:E k2 9C67lQ9EEADi^^HHH]42?22?]:@^Q C6=lQ?@7@==@HQ E2C86ElQ03=2?<Qm9EEADi^^HHH]42?22?]:@^k^2m]k^Am

kAmkDEC@?8m$276 w2C3@C $E2E6>6?Ek^DEC@?8mk^Am

kAm%9:D AC6DD C6=62D6 4@?E2:?D 7@CH2C5\=@@<:?8 DE2E6>6?ED] %96D6 DE2E6>6?ED 2C6 >256 F?56C E96 QD276 92C3@CQ AC@G:D:@?D @7 E96 &]$] !C:G2E6 $64FC:E:6D {:E:82E:@? #67@C> p4E @7 `hhd] %96D6 7@CH2C5\=@@<:?8 DE2E6>6?ED 42? 36 :56?E:7:65 3J E6C>:?@=@8J DF49 2D QH:==[Q Q6IA64ED[Q Q2?E:4:A2E6D[Q Q7FEFC6[Q Q:?E6?5D[Q QA=2?D[Q Q36=:6G6D[Q Q6DE:>2E6DQ 2?5 D:>:=2C DE2E6>6?ED] p>@?8 @E96C E9:?8D[ E96 3FD:?6DD @FE=@@< 2?5 BF@E2E:@?D 7C@> >2?286>6?E :? E9:D 2??@F?46>6?E[ 2D H6== 2D r2?22? x?4]VD DEC2E68:4 2?5 @A6C2E:@?2= A=2?D[ 4@?E2:? 7@CH2C5\=@@<:?8 DE2E6>6?ED] r2?22? x?4] >2J 2=D@ >2<6 HC:EE6? @C @C2= 7@CH2C5\=@@<:?8 DE2E6>6?ED :? :ED A6C:@5:4 C6A@CED E@ E96 &]$] $64FC:E:6D 2?5 tI492?86 r@>>:DD:@? WQ$trQX @? u@C>D a_\u 2?5 e\z[ :? :ED 2??F2= C6A@CE E@ D92C69@=56CD[ :? AC6DD C6=62D6D 2?5 @E96C HC:EE6? >2E6C:2=D 2?5 :? @C2= DE2E6>6?ED >256 3J :ED @77:46CD[ 5:C64E@CD @C 6>A=@J66D E@ E9:C5 A2CE:6D] $E2E6>6?ED E92E 2C6 ?@E 9:DE@C:42= 724ED[ :?4=F5:?8 DE2E6>6?ED 23@FE r2?22? x?4]VD 36=:67D 2?5 6IA64E2E:@?D[ DF49 2D 6IA64E2E:@?D H:E9 C682C5 E@ >:?:?8 92D9 C2E6 56A=@J>6?E[ 2C6 7@CH2C5\=@@<:?8 DE2E6>6?ED] u@CH2C5\=@@<:?8 DE2E6>6?ED :?G@=G6 :?96C6?E C:D<D 2?5 F?46CE2:?E:6D] p ?F>36C @7 724E@CD 4@F=5 42FD6 24EF2= C6DF=ED E@ 5:776C >2E6C:2==J 7C@> E9@D6 4@?E2:?65 :? 2?J 7@CH2C5\=@@<:?8 DE2E6>6?E[ :?4=F5:?8 3FE ?@E =:>:E65 E@ E96 7@==@H:?8i E96 r@>A2?JVD 8@2=D 2?5 DEC2E68:6Dj E96 r@>A2?JVD 7FEFC6 3FD:?6DD 56G6=@A>6?E[ E96 23:=:EJ @7 E96 4@>A2?J E@ 6I64FE6 282:?DE :ED 8@2=D[ 7:?2?4:2= 4@?5:E:@? 2?5 C6DF=ED @7 @A6C2E:@?Dj E96 6IA64E65 8C@HE9 @7 E96 kDA2?m3:E4@:?k^DA2?m :?5FDECJ 2?5 E96 AC:46 @7 kDA2?m3:E4@:?k^DA2?mj E96 r@>A2?JVD 6IA64E2E:@?D C682C5:?8 56>2?5 7@C 2?5 >2C<6E 2446AE2?46 @7 :ED AC@5F4ED[ 6DA64:2==J :ED kDA2?m3:E4@:?k^DA2?m >:?:?8 >249:?6Dj E96 r@>A2?JVD 6IA64E2E:@?D C682C5:?8 >2:?E2:?:?8 2?5 DEC6?8E96?:?8 :ED C6=2E:@?D9:AD H:E9 AC@5F4E:@? A2CE?6CD 2?5 4FDE@>6CDj E96 r@>A2?JVD :?G6DE>6?E A=2?D 2?5 DEC2E68:6D[ 7=F4EF2E:@?D :? E96 r@>A2?JVD BF2CE6C=J @A6C2E:?8 C6DF=EDj 4@>A6E:E:@? :? :ED :?5FDECJj 492?8:?8 >24C@64@?@>:4 2?5 86@A@=:E:42= 4@?5:E:@?D[ :?4=F5:?8 6G@=G:?8 :?E6C?2E:@?2= EC256 A@=:4:6D 2?5 E96 :>A=6>6?E2E:@? @7 :?4C62D65 E2C:77D[ :>A@CE C6DEC:4E:@?D[ 2?5 C6E2=:2E@CJ EC256 24E:@?Dj 2?5 C6=6G2?E 8@G6C?>6?E A@=:4:6D 2?5 C68F=2E:@?D C6=2E:?8 E@ E96 r@>A2?J 2?5 kDA2?m4CJAE@4FCC6?4Jk^DA2?m] uFCE96C :?7@C>2E:@? C682C5:?8 E96D6 2?5 @E96C C:D<D :D :?4=F565 :? E96 r@>A2?JVD 7:=:?8D H:E9 E96 $tr] p== :?7@C>2E:@? AC@G:565 :? E9:D AC6DD C6=62D6 2?5 :? E96 2EE249>6?ED :D 2D @7 E96 52E6 @7 E9:D AC6DD C6=62D6[ 2?5 r2?22? x?4] 5@6D ?@E F?56CE2<6 2?J @3=:82E:@? E@ FA52E6 2?J 7@CH2C5\=@@<:?8 DE2E6>6?E[ 6I46AE 2D C6BF:C65 F?56C 2AA=:423=6 =2H]k^Am

kAmkDEC@?8mx?G6DE@C #6=2E:@?D r@?E24Ek^DEC@?8mk^Am

kAmr2?22? x?4]k^Am

kAmkDA2? 4=2DDlQI?\A6CD@?Qm): +92?8k^DA2?mk^Am

kAmt>2:=i k2 9C67lQ>2:=E@ix#o42?22?\4C62E:G6]4@>Q C6=lQ?@7@==@HQ E2C86ElQ03=2?<Qmx#o42?22?\4C62E:G6]4@>k^2mk^Am

kAmxr#[ {{r]k^Am

kAmkDA2? 4=2DDlQI?\A6CD@?Qm#@3:? *2?8k^DA2?mk^Am

kAm%6=i Z` WbcfX bhe\bag`k^Am

kAmt>2:=i k2 9C67lQ>2:=E@i42?22?]:Co:4C:?4]4@>Q C6=lQ?@7@==@HQ E2C86ElQ03=2?<Qm42?22?]:Co:4C:?4]4@>k^2mk^Am

kA :5lQ!&#{Qmk:>8 2=ElQr:D:@?Q 96:89ElQ`aQ DC4lQ9EEADi^^4a`a]?6E^4^:>8^72G:4@?]A?8nD?lr}h_``eU2>AjD5la_ad\_d\`eQ E:E=6lQr:D:@?Q H:5E9lQ`aQ ^m ':6H @C:8:?2= 4@?E6?Eik2 9C67lQ9EEADi^^HHH]AC?6HDH:C6]4@>^?6HD\C6=62D6D^42?22?\:?4\C646:G6D\?2D52B\?@E:7:42E:@?\C682C5:?8\>:?:>F>\3:5\C6BF:C6>6?ED\b_acdg``e]9E>=Q :5lQ!#}&#{Q C6=lQ?@7@==@HQ E2C86ElQ03=2?<Qm9EEADi^^HHH]AC?6HDH:C6]4@>^?6HD\C6=62D6D^42?22?\:?4\C646:G6D\?2D52B\?@E:7:42E:@?\C682C5:?8\>:?:>F>\3:5\C6BF:C6>6?ED\b_acdg``e]9E>=k^2mk^Am

kAm$~&#rt r2?22? x?4]k^Am

kAmk:>8 DC4lQ9EEADi^^CE]AC?6HDH:C6]4@>^CE]8:7n}6HDxE6>x5lr}h_``eU2>Aj%C2?D>:DD:@?0x5la_ad_d`e`eb_!#0}t($0&$!#00000r}h_``eU2>Ajs2E6x5la_ad_d`eQ DEJ=6lQ3@C56Ci_AIj H:5E9i`AIj 96:89Ei`AIjQ ^mk^Am