Canaan Technology has received a notice from Nasdaq that it does not comply with the listing rules and must meet the minimum purchase price requirement within 180 days

On May 13, 2025, Canaan Technology received a written notice from the Nasdaq Stock Market stating that the Company is not in compliance with Nasdaq Listing Rule 5550 (a) (2) because the closing price of its American Depositary Shares has been less than $1.00 per share for the past 30 consecutive business days. According to Nasdaq Listing Rule 5810 (c) (3) (A), Canaan Technology is allowed to re-comply with the minimum bid price requirement within a 180 calendar day compliance period (i.e. before November 10, 2025), i.e. the closing price of its American Depositary Receipts must reach or exceed $1.00 per share for at least 10 consecutive business days within the 180 calendar day compliance period. It is reported that Nasdaq's notification letter has no direct impact on the listing or trading of the company's securities on Nasdaq.