Canaan Inc. (NASDAQ: CAN) has transferred its American Depositary Share listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 1, 2026, according to a press release from the company.

The transfer follows a notice Canaan received from Nasdaq on January 14, 2026, stating the company was not in compliance with the minimum bid price requirement. Canaan's ADS closing bid price had remained below $1.00 for 30 consecutive business days. Nasdaq granted an initial 180-day compliance period expiring July 13, 2026.

On July 6, 2026, Canaan applied for an additional 180-day compliance period following the transfer to the Nasdaq Capital Market. If approved, the extension would give the company more time to regain compliance. To meet the requirement, Canaan's ADSs must maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days during the compliance period.

The company stated the transfer does not affect the trading of its ADSs, which continue to trade under the ticker symbol "CAN."

Nangeng Zhang, chairman and CEO of Canaan, said the company is "committed to taking the necessary steps to regain compliance with the minimum bid price requirement."

Canaan, established in 2013, focuses on ASIC high-performance computing chip design and the production of cryptocurrency mining equipment.