PANews reported on May 17 that according to PRNewswire, Canaan Technology announced that it received a written notice from Nasdaq on May 13, which stated that the company did not comply with Nasdaq Listing Rule 5550(a)(2) because the closing price of its American Depositary Shares ("ADS") was less than US$1.00 per share for the past 30 consecutive business days. Nasdaq's notice letter has no direct impact on the listing or trading of the company's securities on Nasdaq.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company is permitted to regain compliance with the minimum bid price requirement during a 180-calendar-day compliance period, i.e., until November 12, 2025. To regain compliance, the closing price of the Company’s ADSs must be at or above $1.00 per share for at least 10 consecutive business days during the 180-calendar-day compliance period.

If the Company fails to regain compliance by November 10, 2025, and at the discretion of Nasdaq staff, the Company may be eligible for an additional 180 calendar day compliance period. To receive this additional period, the Company must meet the continued listing requirements (public float market capitalization) and all other initial listing standards of the Nasdaq Capital Market (except the minimum bid price requirement) and provide written notice of its intent to cure the deficiencies during the second compliance period. If the Company fails to regain compliance within the required compliance period (including any extension that Nasdaq may grant), Nasdaq will provide notice to the Company that the ADSs will be delisted.