Canaan executives purchase 1.5 million shares at $0.51 each

Canaan Inc. (NASDAQ: CAN) announced that Chief Executive Officer Nangeng Zhang and Chief Financial Officer Jin "James" Cheng purchased a combined 1,456,547 American Depositary Shares in the open market at an average price of $0.51 per share.

The purchases were made in compliance with the company's internal trading policies and applicable securities regulations, according to a company statement. The transactions occurred after Zhang filed Amendment No.6 to Schedule 13G on February 13, 2026.

"My recent share purchases reflect my strong conviction in Canaan's long-term vision and the opportunities ahead," Zhang said. "Both James and I believe our current market valuation does not fully reflect the strength of our technology, strategy, and growth potential, and we remain confident in the value we are building for shareholders."

The company stated the executives made the purchases to align themselves with shareholder interests and demonstrate confidence in the company's strategy and growth prospects.

Canaan is a technology company that designs ASIC high-performance computing chips and produces cryptocurrency mining equipment. The company was established in 2013 and completed its initial public offering on the Nasdaq Global Market in 2019.

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