View ValuationCanaan 향후 성장Future 기준 점검 1/6Canaan은 연간 수입과 매출이 각각 38.5%와 13.3% 증가할 것으로 예상되고 EPS는 연간 53.2%만큼 증가할 것으로 예상됩니다.핵심 정보38.5%이익 성장률53.17%EPS 성장률Tech 이익 성장0%매출 성장률13.3%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트20 May 2026최근 향후 성장 업데이트공시 • May 20Canaan Inc. Provides Earnings Guidance for the Second Quarter of 2026Canaan Inc. provided earnings guidance for the second quarter of 2026. For the quarter, the company expects total revenues to be approximately USD 35 million to USD 45 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • Nov 18Canaan Inc. Provides Earnings Guidance for the Fourth Quarter of 2025Canaan Inc. provides earnings guidance for the fourth quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 175 million to USD 205 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • Aug 14Canaan Inc. Provides Earnings Guidance for the Third Quarter of 2025Canaan Inc. provides earnings guidance for the third quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 125 million to USD 145 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • May 21+ 1 more updateCanaan Inc. Provides Earnings Guidance for the Second Quarter of 2025Canaan Inc. provides earnings guidance for the second quarter of 2025. For the quarter, the company expects total revenues to be approximately USD 100 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • Mar 03Canaan Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2024Canaan Inc. provided earnings guidance for the fourth quarter ended December 31, 2024. For the quarter, the company’s total revenues are expected to be approximately USD 89 million.공시 • Jan 21Canaan Inc. Provides Revenue Guidance for the Fiscal Year 2025Canaan Inc. provided revenue guidance for the fiscal year 2025. For the year, the company expects total revenues in the range of USD 900 million to USD 1.1 billion.모든 업데이트 보기Recent updatesReported Earnings • May 20First quarter 2026 earnings released: US$0.13 loss per share (vs US$0.27 loss in 1Q 2025)First quarter 2026 results: US$0.13 loss per share. Revenue: US$62.7m (down 24% from 1Q 2025). Net loss: US$88.7m (loss widened 2.7% from 1Q 2025). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Global Tech industry.공시 • May 20Canaan Inc. Provides Earnings Guidance for the Second Quarter of 2026Canaan Inc. provided earnings guidance for the second quarter of 2026. For the quarter, the company expects total revenues to be approximately USD 35 million to USD 45 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • May 12Canaan Inc. to Report Q1, 2026 Results on May 19, 2026Canaan Inc. announced that they will report Q1, 2026 results Pre-Market on May 19, 2026Reported Earnings • Apr 20Full year 2025 earnings released: US$0.45 loss per share (vs US$0.92 loss in FY 2024)Full year 2025 results: US$0.45 loss per share (improved from US$0.92 loss in FY 2024). Revenue: US$529.7m (up 97% from FY 2024). Net loss: US$210.3m (loss narrowed 16% from FY 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Global Tech industry.공시 • Feb 25Canaan Inc. (NasdaqGM:CAN) acquired 49% stake in Alborz LLC, Bear LLC and Chief Mountain LLC from Cipher Mining Inc. (NasdaqGS:CIFR) for $39.8 million.Canaan Inc. (NasdaqGM:CAN) acquired 49% stake in Alborz LLC, Bear LLC and Chief Mountain LLC from Cipher Mining Inc. (NasdaqGS:CIFR) for $39.8 million on February 23, 2026. The total consideration for the transaction is approximately $39.75 million. To preserve the Canaan Inc's financial flexibility, the transaction was funded through the issuance of 806,439,900 Canaan Inc. Class A ordinary shares to Cipher, equivalent to 53,762,660 American Depositary Shares ("ADS"), priced at $0.7394 per ADS and subject to a lock-up period of six months. The joint venture comprising Alborz LLC, Bear LLC, and Chief Mountain LLC collectively, the "ABC Projects". Following the acquisition, Canaan now owns a 49% stake in the ABC Projects, while WindHQ LLC maintains its 51% stake in the ABC Projects. The team of Cleary Gottlieb Steen & Hamilton LLP led by James Jian Hu, Chase Kaniecki, Bill McRae, Helena Grannis, Shuangjun Wang and Puja Patel acted as legal advisor for Canaan Inc. Canaan Inc. (NasdaqGM:CAN) completed the acquisition of 49% stake in Alborz LLC, Bear LLC and Chief Mountain LLC from Cipher Mining Inc. (NasdaqGS:CIFR) on February 23, 2026.New Risk • Feb 11New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$210m Forecast net loss in 2 years: US$18m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$326m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (109% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$18m net loss in 2 years).New Risk • Feb 10New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$326m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$326m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (109% increase in shares outstanding).Reported Earnings • Feb 10Full year 2025 earnings released: US$0.45 loss per share (vs US$0.92 loss in FY 2024)Full year 2025 results: US$0.45 loss per share (improved from US$0.92 loss in FY 2024). Revenue: US$529.7m (up 97% from FY 2024). Net loss: US$210.3m (loss narrowed 16% from FY 2024). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Global Tech industry.공시 • Feb 03Canaan Inc. to Report Q4, 2025 Results on Feb 10, 2026Canaan Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 10, 2026공시 • Dec 18Canaan Inc. (NasdaqGM:CAN) announces an Equity Buyback for $30 million worth of its shares.Canaan Inc. (NasdaqGM:CAN) announces a share repurchase program. Under the program, the company will repurchase up to $30 million worth of its outstanding American depositary shares and/or Class A ordinary shares. The program will be funded from the company’s existing cash balance. The purpose of the program is to create long-term shareholder value. The program will be valid over the next 12 months starting December 12, 2025.Reported Earnings • Nov 20Third quarter 2025 earnings released: US$0.053 loss per share (vs US$0.27 loss in 3Q 2024)Third quarter 2025 results: US$0.053 loss per share (improved from US$0.27 loss in 3Q 2024). Revenue: US$150.5m (up 104% from 3Q 2024). Net loss: US$27.7m (loss narrowed 63% from 3Q 2024). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Global Tech industry.공시 • Nov 18Canaan Inc. Provides Earnings Guidance for the Fourth Quarter of 2025Canaan Inc. provides earnings guidance for the fourth quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 175 million to USD 205 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • Nov 11Canaan Inc. to Report Q3, 2025 Results on Nov 18, 2025Canaan Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 18, 2025공시 • Nov 07Canaan Inc. has completed a Follow-on Equity Offering in the amount of $71.999999 million.Canaan Inc. has completed a Follow-on Equity Offering in the amount of $71.999999 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Securities Offered: 63,660,477 Price\Range: $1.131 Discount Per Security: $0 Transaction Features: Registered Direct Offering공시 • Nov 05Canaan Inc. has filed a Follow-on Equity Offering in the amount of $71.999999 million.Canaan Inc. has filed a Follow-on Equity Offering in the amount of $71.999999 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Securities Offered: 63,660,477 Price\Range: $1.131 Transaction Features: Registered Direct Offering공시 • Oct 31Canaan Inc. has completed a Follow-on Equity Offering in the amount of $7.7924 million.Canaan Inc. has completed a Follow-on Equity Offering in the amount of $7.7924 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Securities Offered: 4,840,000 Price\Range: $1.61 Discount Per Security: $0.0483 Transaction Features: At the Market Offering공시 • Oct 28Canaan Inc. Unveils Next-Gen Avalon A16 Series Bitcoin Mining Machine Featuring Breakthrough ASIC ChipCanaan Inc. announced the official launch of its latest generation bitcoin mining machine, the Avalon A16 series at the Blockchain Life 2025 summit in Dubai, representing a significant advancement in mining performance and chip innovation. The newly launched Avalon A16XP air-cooled model (the "A16XP") delivers 300 terahash per second (TH/s) of computing power per unit at a power efficiency of 12.8 joules per terahash (J/TH). Coupled with Avalon's superior durability and reliability, the A16XP stands among the most competitive mining machines in the market, empowering mining clients to maintain operational advantage and maximize return on investment, even amid rising network difficulty. The A16 series mining machines are now available for pre-order and will ship from the Company's production centers in North America, East Asia, and Southeast Asia. This new product further reinforces Canaan's vertical integration across the bitcoin value chain--from ASIC design and hardware sales to self-mining operations and bitcoin treasury management. By advancing this strategic model, the Company is positioned to capture greater value throughout industry cycles, while improving efficiency, resiliency, and operational agility. Canaan will continue to expand its international footprint through dedicated sales and service operations across the globe, supporting its bitcoin mining clients by providing world-class hardware solutions and post-sale support.공시 • Oct 25Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million.Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Transaction Features: At the Market Offering공시 • Oct 14Canaan Inc. Launches Innovative Gas-to-Computing Pilot in Canada with Energy Infrastructure DeveloperCanaan Inc. announced the launch of a pilot mining project in Calgary, Alberta, Canada, through a joint mining agreement with Aurora AZ Energy Ltd., a Calgary-based energy infrastructure company that develops and operates natural gas wellhead power solutions for HPC/AI data centers and bitcoin mining applications. This gas-to-computing initiative is designed to convert distributed natural gas resources - such as wellhead gas - into reliable, cost-efficient power for high-density computing environments. The project is designed to demonstrate high uptime and modular scalability. Under the agreement, Canaan is guaranteed 90% uptime, subject to limited exemptions, including extreme weather conditions and scheduled gas well or generator maintenance. The project will pilot a fully integrated gas-to-compute system that connects natural gas extraction, power generation, and computing operations within a single modular architecture. The deployment includes over $2 million of Avalon®? A15 Pro miners and containerized data modules from Canaan that will be installed directly at wellheads. Through Aurora's on-site energy operations, stranded or flared gas will be converted into usable electricity at power costs well below industry norms. During periods of curtailment, Canaan will also participate in the economic benefits of selling excess power back to the grid through emergency or economic demand-response programs. The Company expects that the deployment of 700 Avalon A15 Pro units will provide approximately 2.5 megawatts (MW) of computing capacity directly at the wellhead. By utilizing natural gas that would otherwise be flared, the project is expected to eliminate an estimated 12,000 to 14,000 metric tons of CO2-equivalent emissions annually and demonstrates how responsible energy reuse can align environmental benefits with strong project-level economics. In 2024, the province of Alberta alone flared more than 900 million cubic meters of natural gas, according to the Alberta Energy Regulator (AER), representing a significant opportunity for energy recovery and repurposing. The project comes as hyperscalers are projected to invest approximately $350 billion in AI deployment in 2025, undersccoring the critical importance of scalable, energy-efficient infrastructure. By demonstrating the technical and economic viability of wellhead power generation for bitcoin mining and other high-density computing applications, Canaan and Aurora aim to establish a repeatable model that expands global computing capacity while improving the efficiency and sustainability of energy utilization.Board Change • Sep 24Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.공시 • Aug 14Canaan Inc. Provides Earnings Guidance for the Third Quarter of 2025Canaan Inc. provides earnings guidance for the third quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 125 million to USD 145 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.공시 • Aug 07Canaan Inc. to Report Q2, 2025 Results on Aug 14, 2025Canaan Inc. announced that they will report Q2, 2025 results at 9:30 AM, US Eastern Standard Time on Aug 14, 2025공시 • Jun 24Canaan Inc. Announces Strategic RealignmentCanaan Inc. announced that it has commenced a strategic realignment aimed at sharpening its focus on its core businesses of bitcoin mining machine sales, self-mining operations, and consumer mining products. As part of this initiative, the Company will discontinue its non-core AI semiconductor business unit, described in the annual report for the year ended December 31, 2024 as "ASICs for edge computing applications", with the process expected to conclude in the coming months. This decision reflects the Company's commitment to streamlining operations, enhancing capital efficiency, and reducing expenditures unrelated to its primary business lines. By discontinuing the AI semiconductor business unit, Canaan will reallocate resources and leadership attention toward its foundational strengths in the rapidly evolving digital asset ecosystem. While the AI semiconductor business unit brought promising innovations, it did not align with the Company's streamlined growth strategy. In fiscal year 2024, the Company's revenue from the sale of edge computing products was approximately USD 0.9 million. Unaudited operating expenses related to this business accounted for around 15% of the Company's total operating expenses for fiscal year 2024. Beginning as early as March 2022, the Company has engaged external advisors, sought independent third-party valuation, and actively explored its strategic options for its AI semiconductor business, including partial or complete asset sales or orderly wind-downs of related operations. After the AI semiconductor business unit is fully discontinued, the Company expects its operating expenses to decline significantly. The Company remains committed to delivering cutting-edge ASIC solutions for crypto infrastructure, expanding its mining footprint, and strengthening its position in the global cryptocurrency infrastructure market.공시 • May 27Canaan Inc. (NasdaqGM:CAN) announces an Equity Buyback for $30 million worth of its shares.Canaan Inc. (NasdaqGM:CAN) announces a share repurchase program. Under the program, the company will repurchase up to $30 million worth of its outstanding American depositary shares and/or Class A ordinary shares. The program will be funded from the company’s existing cash balance. The program will be valid for the next 6 months starting from May 27, 2025.공시 • May 21+ 1 more updateCanaan Inc. Provides Earnings Guidance for the Second Quarter of 2025Canaan Inc. provides earnings guidance for the second quarter of 2025. For the quarter, the company expects total revenues to be approximately USD 100 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.Reported Earnings • May 20First quarter 2025 earnings releasedFirst quarter 2025 results: Net income: (up US$39.4m from 1Q 2024).New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding).공시 • May 12Canaan Inc. to Report Q1, 2025 Results on May 20, 2025Canaan Inc. announced that they will report Q1, 2025 results Pre-Market on May 20, 2025Board Change • May 06Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Reported Earnings • Mar 27Full year 2024 earnings released: US$0.92 loss per share (vs US$2.41 loss in FY 2023)Full year 2024 results: US$0.92 loss per share (improved from US$2.41 loss in FY 2023). Revenue: US$269.3m (up 27% from FY 2023). Net loss: US$249.8m (loss narrowed 40% from FY 2023). Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Global Tech industry.공시 • Mar 26+ 1 more updateCanaan Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2024Canaan Inc. reported impairment charges for the fourth quarter ended December 31, 2024. For the quarter, the company reported impairment on property and equipment of USD 4,043,000 compared to USD 6,324,000 a year ago.공시 • Mar 17Canaan Inc. to Report Q4, 2024 Results on Mar 26, 2025Canaan Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 26, 2025공시 • Mar 11Canaan Inc. announced that it expects to receive $200 million in fundingCanaan Inc. announced that it has entered into a securities purchase agreement with an institutional investor for issuance of 200,000 series A-1 convertible preferred shares at a price of $1,000 per share for gross proceeds of $200,000,000 on March 10, 2025. The preferred shares are convertible into class A ordinary shares. On the same day, the company issued 100,000 series A-1 convertible preferred shares at a price of $1,000 per share for gross proceeds of $100,000,000 in its first tranche closing. The second closing of $100,000,000 is expected to occur on or before March 31, 2025.Board Change • Mar 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.공시 • Mar 03Canaan Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2024Canaan Inc. provided earnings guidance for the fourth quarter ended December 31, 2024. For the quarter, the company’s total revenues are expected to be approximately USD 89 million.Board Change • Jan 29Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.공시 • Jan 21Canaan Inc. Provides Revenue Guidance for the Fiscal Year 2025Canaan Inc. provided revenue guidance for the fiscal year 2025. For the year, the company expects total revenues in the range of USD 900 million to USD 1.1 billion.공시 • Jan 08Canaan Introduces Revolutionary Bitcoin Mining Heaters for Home and Personal Use in Ces 2025Canaan INC announced the launch of the Avalon Mini 3 and Nano 3S in Las Vegas, CES. The two innovative Bitcoin mining devices are designed to democratize cryptocurrency mining for individuals and turning a home heating system into a crypto mining device. Product Innovation; Canaan is redefining home cryptocurrency mining with two devices. The Avalon Mini 3, with a Hashrate of 37.5Th/s, offers a unique dual-purpose solution, combining efficient Bitcoin mining with home heating. The app-controlled operation and sleek, quiet design, provides a remarkably easy-to-use, energy-efficient solution for mining newcomers and enthusiasts. The Avalon Nano 3S, which is upgraded from the widely-welcomed Avalon Nano 3, with a Hashrate of 6Th/s, complements this offering as an affordable, beginner-friendly Bitcoin mining device. Its compact and portable design alongside its low power consumption makes it ideal for individual users while supporting the broader goal of Bitcoin network decentralization. Reimagining Technology Efficiency; The Avalon Mini 3 can simultaneously mine Bitcoin and warm living spaces, offering homeowners a unique way to offset energy costs and reduce environmental impact. This device gives users innovative access to heat recycling, turning the computational work of Bitcoin mining into a dual-purpose solution that provides both digital currency and home comfort.공시 • Dec 24Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million.Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Transaction Features: At the Market OfferingBoard Change • Dec 06Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.공시 • Nov 28Canaan Inc. announced that it has received $30 million in fundingOn November 26, 2024, Canaan Inc. closed the transaction.공시 • Nov 21Canaan Inc. announced that it expects to receive $30 million in fundingCanaan Inc. announced that it has entered into a securities purchase agreement with an institutional investor pursuant to which the Company shall issue and sell to the Buyer up to 30,000 Series A-1 Preferred Shares at the price of $1,000.00 for each Series A-1 Preferred Share for the gross proceeds of $30,000,000 on November 19, 2024. The Securities Purchase Agreement contains customary representations, warranties and agreements by the Company and the Buyer, and indemnification obligations of the Company against certain liabilities, including for liabilities under the Securities Act of 1933, as amended.Reported Earnings • Nov 21Third quarter 2024 earnings released: US$0.27 loss per share (vs US$0.47 loss in 3Q 2023)Third quarter 2024 results: US$0.27 loss per share (improved from US$0.47 loss in 3Q 2023). Revenue: US$73.6m (up 121% from 3Q 2023). Net loss: US$75.6m (loss narrowed 5.6% from 3Q 2023). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Global Tech industry.공시 • Nov 20Canaan Inc. Provides Revenue Guidance for the Fourth Quarter of 2024Canaan Inc. provided revenue guidance for the fourth quarter of 2024. For the fourth quarter of 2024, the Company expects total revenues to be approximately USD 80 million.공시 • Nov 14Canaan Inc. to Report Q3, 2024 Results on Nov 20, 2024Canaan Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 20, 2024공시 • Nov 08Canaan Upgrades Avalon Miner A15 Series with Superior PerformanceCanaan Inc. upgraded Avalon Miner A15 series mining machines. In April 2024, Canaan released its Avalon Miner A1566 air cooling machine with 185 TH/s hash rate and power efficiency ratio of 18.5 J/TH in Hong Kong. After continuous improvements in chips and embedded software in the past months, new Avalon Miner A15 series now features four models: 1, the high-end model Avalon Miner A15Pro with a hashrate no less than 215T and a power efficiency of 16.8J/T; 2, A15XP with a hashrate of 200-212T and a power efficiency of 17.8J/T; 3, A15 with a hashrate of 188-203T and a power efficiency of 18.8J/T; 4, A15SE with a hashrate of 170-185T and a power efficiency of 19.9J/T. The upgraded Avalon Miner A15 series offers notable excellent hashrate with better power efficiency, to address the escalating computational requirements and meet the diverse demands from customers of different mining scales, in different mining environments, aiming to deliver a more efficient and stable mining experience for miners around the world.Avalon Miner A15 series can be integrate seamlessly into Avalon Box with Canaan's One-Stop Mining Solutions. Along with 24/7 multilingual support across over 20 countries, Canaan reaffirms its commitment to providing miners worldwide with fast, reliable, and efficient solutions for mining deployment and maintenance. Avalon Miner A15 series can be ordered from now.New Risk • Sep 10New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$190m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$190m free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$132m net loss next year).Reported Earnings • Aug 16Second quarter 2024 earnings released: US$0.008 loss per share (vs US$0.15 loss in 2Q 2023)Second quarter 2024 results: US$0.008 loss per share (improved from US$0.15 loss in 2Q 2023). Revenue: US$36.8m (up 97% from 2Q 2023). Net loss: US$2.49m (loss narrowed 91% from 2Q 2023). Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Global Tech industry.공시 • Aug 15+ 1 more updateCanaan Inc. Reports Unaudited Consolidated Impairment Charges Results for the Second Quarter Ended June 30, 2024Canaan Inc. reported unaudited consolidated impairment charges results for the second quarter ended June 30, 2024. For the quarter, the company reported impairment on property, equipment and software of USD 798,000 against USD 9,111,000 a year ago.공시 • Aug 06Canaan Inc. to Report Q2, 2024 Results on Aug 15, 2024Canaan Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 15, 2024공시 • Jun 27Canaan Inc. Launches the Third Generation of Immersion Cooling Avalon Miner A1566I at Mining Disrupt 2024Canaan Inc. unveiled its latest advancement, the Avalon Immersion Cooling Miner A1566I, with a hash rate of 249T and an energy efficiency of 19J/TH with a power consumption of 4500W, at the esteemed Mining Disrupt 2024 conference. Ning Zhang, Canaan's Vice President and General Manager of Canaan U.S. expressed his enthusiasm: "We are thrilled to introduce the Avalon Miner A1566I. This product epitomizes commitment to technological innovation and delivering efficient, environmentally friendly mining solutions to customers." Key Features of Avalon Immersion Cooling Miner A1566I: Power Efficiency: With a power consumption of 4500W and an energy efficiency of 19J/TH, the Avalon Miner A1566I maximizes mining output while minimizing operational costs. Innovative Design: Enhanced chip technology improves stability and performance, reducing the energy efficiency ratio to 19J/TH. The rear mesh exhaust design replaces traditional fans, significantly lowering noise levels. High ROI: The Avalon Miner A1566I's high hash rate and low power consumption are poised to increase profitability, especially post-Bitcoin's fourth halving. Versatile Operating Conditions: Capable of operating in temperatures from 20°C to 50°C with a voltage range of 220-277V. Its lightweight design (11kg) facilitates easy transport and installation. Flexible Design for Market Adaptation: the Avalon Miner A1566I is designed to seamlessly integrate with current tank setups, avoiding inefficiencies caused by larger, non-specialized units. The Avalon Miner A1566I enhances the miner's performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan's ESG (Environmental, Social, and Governance) strategy.Ning Zhang also released Canaan's ESG policy during his speech: "Canaan will give 2% Voucher to miners using green energes for their new orders", which demonstrated the company's determination of green mining.The successful launch of the Avalon Miner A1566I at Mining Disrupt 2024 underscores Canaan's leading position in the Bitcoin mining industry, setting a clear direction for future advancements. Canaan continues to drive industry innovation, providing optimal mining solutions for clients worldwide.New Risk • May 23New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 70% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 9.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding).Reported Earnings • May 19First quarter 2024 earnings released: US$0.16 loss per share (vs US$0.51 loss in 1Q 2023)First quarter 2024 results: US$0.16 loss per share (improved from US$0.51 loss in 1Q 2023). Revenue: US$35.1m (down 37% from 1Q 2023). Net loss: US$39.4m (loss narrowed 53% from 1Q 2023).공시 • May 18Canaan Inc. Provides Revenue Guidance for the Third Quarter of 2024Canaan Inc. provided revenue guidance for the third quarter of 2024. For the quarter, the company expects total revenues to be approximately USD 70 million. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.공시 • May 12Canaan Inc. to Report Q1, 2024 Results on May 17, 2024Canaan Inc. announced that they will report Q1, 2024 results Pre-Market on May 17, 2024공시 • May 10Canaan Inc. Debuts Avalon A15 New Product SeriesCanaan Inc. launched the star product A 1566 of Avalon A15 series, an upgraded bitcoin mining machine with Canaan's most advanced technology. Building on the pioneering 1xJ/T series, the Avalon A15, particularly the A1566 model, with an energy efficiency ratio of 18.5J/T, with its 185T hashing power and 3420W power consumption, sets a new benchmark in performance with improved power efficiency. This series reflects Canaan's intensified efforts in product development, market research and in collaboration with key partners, to deliver high quality, resilient mining solutions, especially crucial in the post-halving era. The Avalon A15 series is set to enhance profitability for users, reinforcing Canaan's commitment to innovation in the blockchain sector. Model: A1566-185T; Algorithm/Crypto: SHA256/BTC; Hash Rate@25?, TH/s: 185 ±5%; Power Consumption @Tj75?, Watt: 3420 ±10%; Power Efficient @Tj75°C, J/TH: 18.5 ±5%; Voltage: 200 - 300V; Net Weight, kg: 14.9; Work temperature °C: -5~35.Reported Earnings • Apr 20Full year 2023 earnings released: US$2.41 loss per share (vs US$0.41 profit in FY 2022)Full year 2023 results: US$2.41 loss per share (down from US$0.41 profit in FY 2022). Revenue: US$211.5m (down 68% from FY 2022). Net loss: US$414.2m (down US$484.0m from profit in FY 2022).공시 • Apr 18Canaan Inc. announced that it expects to receive $132 million in fundingCanaan Inc. announced a private placement that it will receive $132,000,000 in Series B financing on April 17, 2024.Board Change • Apr 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.공시 • Mar 01Canaan Inc. Provides Revenue Guidance for the First Quarter of 2024, and the Second Quarter of 2024Canaan Inc. provided revenue guidance for the first quarter of 2024, and the second quarter of 2024. For the first quarter of 2024, and the second quarter of 2024, the company expects total revenues to be approximately USD 33 million and USD 70 million, respectively, considering the challenging market conditions across the industry.Reported Earnings • Feb 28Full year 2023 earnings released: US$2.41 loss per share (vs US$0.41 profit in FY 2022)Full year 2023 results: US$2.41 loss per share (down from US$0.41 profit in FY 2022). Revenue: US$211.5m (down 67% from FY 2022). Net loss: US$414.2m (down US$484.7m from profit in FY 2022).공시 • Feb 22Canaan Inc. to Report Q4, 2023 Results on Feb 27, 2024Canaan Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 27, 2024Board Change • Jan 30Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.New Risk • Jan 23New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 48% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk Shareholders have been diluted in the past year (48% increase in shares outstanding).Board Change • Dec 29Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.이익 및 매출 성장 예측BMV:CAN N - 애널리스트 향후 추정치 및 과거 재무 데이터 (USD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/2027647-98N/AN/A312/31/2026313-189-188N/A53/31/2026510-213N/AN/AN/A12/31/2025530-210-296-271N/A9/30/2025422-218N/AN/AN/A6/30/2025345-266-326-289N/A3/31/2025317-297N/AN/AN/A12/31/2024269-250-219-199N/A9/30/2024230-296N/AN/AN/A6/30/2024189-300-190-186N/A3/31/2024191-369N/AN/AN/A12/31/2023211-414-127-124N/A9/30/2023268-356N/AN/AN/A6/30/2023366-270N/AN/AN/A3/31/2023491-79N/AN/AN/A12/31/202265270-200-183N/A9/30/20228673226273N/A6/30/2022972419N/AN/AN/A3/31/2022925380N/AN/AN/A12/31/2021773309197202N/A9/30/2021440113N/AN/AN/A6/30/202126114N/AN/AN/A3/31/2021119-27N/AN/AN/A12/31/202069-3366N/A9/30/2020129-139N/AN/AN/A6/30/2020195-108N/AN/AN/A3/31/2020204-142N/AN/AN/A12/31/2019204-149N/A-40N/A9/30/2019173-37N/A20N/A6/30/2019152-62N/A24N/A3/31/2019265-8N/AN/AN/A12/31/201839318N/A-2N/A12/31/201720158N/A14N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: CAN N 향후 3년 동안 수익성이 없을 것으로 예상됩니다.수익 vs 시장: CAN N 향후 3년 동안 수익성이 없을 것으로 예상됩니다.고성장 수익: CAN N 향후 3년 동안 수익성이 없을 것으로 예상됩니다.수익 대 시장: CAN N 의 수익(연간 13.3%)이 MX 시장(연간 6.2%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: CAN N 의 수익(연간 13.3%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: CAN N의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YTech 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/23 02:19종가2026/05/22 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Canaan Inc.는 11명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Mark PalmerBenchmark CompanyNicholas GilesB. Riley Securities, Inc.Gregory LewisBTIG8명의 분석가 더 보기
공시 • May 20Canaan Inc. Provides Earnings Guidance for the Second Quarter of 2026Canaan Inc. provided earnings guidance for the second quarter of 2026. For the quarter, the company expects total revenues to be approximately USD 35 million to USD 45 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • Nov 18Canaan Inc. Provides Earnings Guidance for the Fourth Quarter of 2025Canaan Inc. provides earnings guidance for the fourth quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 175 million to USD 205 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • Aug 14Canaan Inc. Provides Earnings Guidance for the Third Quarter of 2025Canaan Inc. provides earnings guidance for the third quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 125 million to USD 145 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • May 21+ 1 more updateCanaan Inc. Provides Earnings Guidance for the Second Quarter of 2025Canaan Inc. provides earnings guidance for the second quarter of 2025. For the quarter, the company expects total revenues to be approximately USD 100 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • Mar 03Canaan Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2024Canaan Inc. provided earnings guidance for the fourth quarter ended December 31, 2024. For the quarter, the company’s total revenues are expected to be approximately USD 89 million.
공시 • Jan 21Canaan Inc. Provides Revenue Guidance for the Fiscal Year 2025Canaan Inc. provided revenue guidance for the fiscal year 2025. For the year, the company expects total revenues in the range of USD 900 million to USD 1.1 billion.
Reported Earnings • May 20First quarter 2026 earnings released: US$0.13 loss per share (vs US$0.27 loss in 1Q 2025)First quarter 2026 results: US$0.13 loss per share. Revenue: US$62.7m (down 24% from 1Q 2025). Net loss: US$88.7m (loss widened 2.7% from 1Q 2025). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Global Tech industry.
공시 • May 20Canaan Inc. Provides Earnings Guidance for the Second Quarter of 2026Canaan Inc. provided earnings guidance for the second quarter of 2026. For the quarter, the company expects total revenues to be approximately USD 35 million to USD 45 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • May 12Canaan Inc. to Report Q1, 2026 Results on May 19, 2026Canaan Inc. announced that they will report Q1, 2026 results Pre-Market on May 19, 2026
Reported Earnings • Apr 20Full year 2025 earnings released: US$0.45 loss per share (vs US$0.92 loss in FY 2024)Full year 2025 results: US$0.45 loss per share (improved from US$0.92 loss in FY 2024). Revenue: US$529.7m (up 97% from FY 2024). Net loss: US$210.3m (loss narrowed 16% from FY 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Global Tech industry.
공시 • Feb 25Canaan Inc. (NasdaqGM:CAN) acquired 49% stake in Alborz LLC, Bear LLC and Chief Mountain LLC from Cipher Mining Inc. (NasdaqGS:CIFR) for $39.8 million.Canaan Inc. (NasdaqGM:CAN) acquired 49% stake in Alborz LLC, Bear LLC and Chief Mountain LLC from Cipher Mining Inc. (NasdaqGS:CIFR) for $39.8 million on February 23, 2026. The total consideration for the transaction is approximately $39.75 million. To preserve the Canaan Inc's financial flexibility, the transaction was funded through the issuance of 806,439,900 Canaan Inc. Class A ordinary shares to Cipher, equivalent to 53,762,660 American Depositary Shares ("ADS"), priced at $0.7394 per ADS and subject to a lock-up period of six months. The joint venture comprising Alborz LLC, Bear LLC, and Chief Mountain LLC collectively, the "ABC Projects". Following the acquisition, Canaan now owns a 49% stake in the ABC Projects, while WindHQ LLC maintains its 51% stake in the ABC Projects. The team of Cleary Gottlieb Steen & Hamilton LLP led by James Jian Hu, Chase Kaniecki, Bill McRae, Helena Grannis, Shuangjun Wang and Puja Patel acted as legal advisor for Canaan Inc. Canaan Inc. (NasdaqGM:CAN) completed the acquisition of 49% stake in Alborz LLC, Bear LLC and Chief Mountain LLC from Cipher Mining Inc. (NasdaqGS:CIFR) on February 23, 2026.
New Risk • Feb 11New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$210m Forecast net loss in 2 years: US$18m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$326m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (109% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$18m net loss in 2 years).
New Risk • Feb 10New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$326m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$326m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (109% increase in shares outstanding).
Reported Earnings • Feb 10Full year 2025 earnings released: US$0.45 loss per share (vs US$0.92 loss in FY 2024)Full year 2025 results: US$0.45 loss per share (improved from US$0.92 loss in FY 2024). Revenue: US$529.7m (up 97% from FY 2024). Net loss: US$210.3m (loss narrowed 16% from FY 2024). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Global Tech industry.
공시 • Feb 03Canaan Inc. to Report Q4, 2025 Results on Feb 10, 2026Canaan Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 10, 2026
공시 • Dec 18Canaan Inc. (NasdaqGM:CAN) announces an Equity Buyback for $30 million worth of its shares.Canaan Inc. (NasdaqGM:CAN) announces a share repurchase program. Under the program, the company will repurchase up to $30 million worth of its outstanding American depositary shares and/or Class A ordinary shares. The program will be funded from the company’s existing cash balance. The purpose of the program is to create long-term shareholder value. The program will be valid over the next 12 months starting December 12, 2025.
Reported Earnings • Nov 20Third quarter 2025 earnings released: US$0.053 loss per share (vs US$0.27 loss in 3Q 2024)Third quarter 2025 results: US$0.053 loss per share (improved from US$0.27 loss in 3Q 2024). Revenue: US$150.5m (up 104% from 3Q 2024). Net loss: US$27.7m (loss narrowed 63% from 3Q 2024). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Global Tech industry.
공시 • Nov 18Canaan Inc. Provides Earnings Guidance for the Fourth Quarter of 2025Canaan Inc. provides earnings guidance for the fourth quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 175 million to USD 205 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • Nov 11Canaan Inc. to Report Q3, 2025 Results on Nov 18, 2025Canaan Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 18, 2025
공시 • Nov 07Canaan Inc. has completed a Follow-on Equity Offering in the amount of $71.999999 million.Canaan Inc. has completed a Follow-on Equity Offering in the amount of $71.999999 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Securities Offered: 63,660,477 Price\Range: $1.131 Discount Per Security: $0 Transaction Features: Registered Direct Offering
공시 • Nov 05Canaan Inc. has filed a Follow-on Equity Offering in the amount of $71.999999 million.Canaan Inc. has filed a Follow-on Equity Offering in the amount of $71.999999 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Securities Offered: 63,660,477 Price\Range: $1.131 Transaction Features: Registered Direct Offering
공시 • Oct 31Canaan Inc. has completed a Follow-on Equity Offering in the amount of $7.7924 million.Canaan Inc. has completed a Follow-on Equity Offering in the amount of $7.7924 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Securities Offered: 4,840,000 Price\Range: $1.61 Discount Per Security: $0.0483 Transaction Features: At the Market Offering
공시 • Oct 28Canaan Inc. Unveils Next-Gen Avalon A16 Series Bitcoin Mining Machine Featuring Breakthrough ASIC ChipCanaan Inc. announced the official launch of its latest generation bitcoin mining machine, the Avalon A16 series at the Blockchain Life 2025 summit in Dubai, representing a significant advancement in mining performance and chip innovation. The newly launched Avalon A16XP air-cooled model (the "A16XP") delivers 300 terahash per second (TH/s) of computing power per unit at a power efficiency of 12.8 joules per terahash (J/TH). Coupled with Avalon's superior durability and reliability, the A16XP stands among the most competitive mining machines in the market, empowering mining clients to maintain operational advantage and maximize return on investment, even amid rising network difficulty. The A16 series mining machines are now available for pre-order and will ship from the Company's production centers in North America, East Asia, and Southeast Asia. This new product further reinforces Canaan's vertical integration across the bitcoin value chain--from ASIC design and hardware sales to self-mining operations and bitcoin treasury management. By advancing this strategic model, the Company is positioned to capture greater value throughout industry cycles, while improving efficiency, resiliency, and operational agility. Canaan will continue to expand its international footprint through dedicated sales and service operations across the globe, supporting its bitcoin mining clients by providing world-class hardware solutions and post-sale support.
공시 • Oct 25Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million.Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Transaction Features: At the Market Offering
공시 • Oct 14Canaan Inc. Launches Innovative Gas-to-Computing Pilot in Canada with Energy Infrastructure DeveloperCanaan Inc. announced the launch of a pilot mining project in Calgary, Alberta, Canada, through a joint mining agreement with Aurora AZ Energy Ltd., a Calgary-based energy infrastructure company that develops and operates natural gas wellhead power solutions for HPC/AI data centers and bitcoin mining applications. This gas-to-computing initiative is designed to convert distributed natural gas resources - such as wellhead gas - into reliable, cost-efficient power for high-density computing environments. The project is designed to demonstrate high uptime and modular scalability. Under the agreement, Canaan is guaranteed 90% uptime, subject to limited exemptions, including extreme weather conditions and scheduled gas well or generator maintenance. The project will pilot a fully integrated gas-to-compute system that connects natural gas extraction, power generation, and computing operations within a single modular architecture. The deployment includes over $2 million of Avalon®? A15 Pro miners and containerized data modules from Canaan that will be installed directly at wellheads. Through Aurora's on-site energy operations, stranded or flared gas will be converted into usable electricity at power costs well below industry norms. During periods of curtailment, Canaan will also participate in the economic benefits of selling excess power back to the grid through emergency or economic demand-response programs. The Company expects that the deployment of 700 Avalon A15 Pro units will provide approximately 2.5 megawatts (MW) of computing capacity directly at the wellhead. By utilizing natural gas that would otherwise be flared, the project is expected to eliminate an estimated 12,000 to 14,000 metric tons of CO2-equivalent emissions annually and demonstrates how responsible energy reuse can align environmental benefits with strong project-level economics. In 2024, the province of Alberta alone flared more than 900 million cubic meters of natural gas, according to the Alberta Energy Regulator (AER), representing a significant opportunity for energy recovery and repurposing. The project comes as hyperscalers are projected to invest approximately $350 billion in AI deployment in 2025, undersccoring the critical importance of scalable, energy-efficient infrastructure. By demonstrating the technical and economic viability of wellhead power generation for bitcoin mining and other high-density computing applications, Canaan and Aurora aim to establish a repeatable model that expands global computing capacity while improving the efficiency and sustainability of energy utilization.
Board Change • Sep 24Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
공시 • Aug 14Canaan Inc. Provides Earnings Guidance for the Third Quarter of 2025Canaan Inc. provides earnings guidance for the third quarter of 2025. For the quarter, the company expects total revenues to be in the range of USD 125 million to USD 145 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
공시 • Aug 07Canaan Inc. to Report Q2, 2025 Results on Aug 14, 2025Canaan Inc. announced that they will report Q2, 2025 results at 9:30 AM, US Eastern Standard Time on Aug 14, 2025
공시 • Jun 24Canaan Inc. Announces Strategic RealignmentCanaan Inc. announced that it has commenced a strategic realignment aimed at sharpening its focus on its core businesses of bitcoin mining machine sales, self-mining operations, and consumer mining products. As part of this initiative, the Company will discontinue its non-core AI semiconductor business unit, described in the annual report for the year ended December 31, 2024 as "ASICs for edge computing applications", with the process expected to conclude in the coming months. This decision reflects the Company's commitment to streamlining operations, enhancing capital efficiency, and reducing expenditures unrelated to its primary business lines. By discontinuing the AI semiconductor business unit, Canaan will reallocate resources and leadership attention toward its foundational strengths in the rapidly evolving digital asset ecosystem. While the AI semiconductor business unit brought promising innovations, it did not align with the Company's streamlined growth strategy. In fiscal year 2024, the Company's revenue from the sale of edge computing products was approximately USD 0.9 million. Unaudited operating expenses related to this business accounted for around 15% of the Company's total operating expenses for fiscal year 2024. Beginning as early as March 2022, the Company has engaged external advisors, sought independent third-party valuation, and actively explored its strategic options for its AI semiconductor business, including partial or complete asset sales or orderly wind-downs of related operations. After the AI semiconductor business unit is fully discontinued, the Company expects its operating expenses to decline significantly. The Company remains committed to delivering cutting-edge ASIC solutions for crypto infrastructure, expanding its mining footprint, and strengthening its position in the global cryptocurrency infrastructure market.
공시 • May 27Canaan Inc. (NasdaqGM:CAN) announces an Equity Buyback for $30 million worth of its shares.Canaan Inc. (NasdaqGM:CAN) announces a share repurchase program. Under the program, the company will repurchase up to $30 million worth of its outstanding American depositary shares and/or Class A ordinary shares. The program will be funded from the company’s existing cash balance. The program will be valid for the next 6 months starting from May 27, 2025.
공시 • May 21+ 1 more updateCanaan Inc. Provides Earnings Guidance for the Second Quarter of 2025Canaan Inc. provides earnings guidance for the second quarter of 2025. For the quarter, the company expects total revenues to be approximately USD 100 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change.
Reported Earnings • May 20First quarter 2025 earnings releasedFirst quarter 2025 results: Net income: (up US$39.4m from 1Q 2024).
New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding).
공시 • May 12Canaan Inc. to Report Q1, 2025 Results on May 20, 2025Canaan Inc. announced that they will report Q1, 2025 results Pre-Market on May 20, 2025
Board Change • May 06Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Reported Earnings • Mar 27Full year 2024 earnings released: US$0.92 loss per share (vs US$2.41 loss in FY 2023)Full year 2024 results: US$0.92 loss per share (improved from US$2.41 loss in FY 2023). Revenue: US$269.3m (up 27% from FY 2023). Net loss: US$249.8m (loss narrowed 40% from FY 2023). Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Global Tech industry.
공시 • Mar 26+ 1 more updateCanaan Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2024Canaan Inc. reported impairment charges for the fourth quarter ended December 31, 2024. For the quarter, the company reported impairment on property and equipment of USD 4,043,000 compared to USD 6,324,000 a year ago.
공시 • Mar 17Canaan Inc. to Report Q4, 2024 Results on Mar 26, 2025Canaan Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 26, 2025
공시 • Mar 11Canaan Inc. announced that it expects to receive $200 million in fundingCanaan Inc. announced that it has entered into a securities purchase agreement with an institutional investor for issuance of 200,000 series A-1 convertible preferred shares at a price of $1,000 per share for gross proceeds of $200,000,000 on March 10, 2025. The preferred shares are convertible into class A ordinary shares. On the same day, the company issued 100,000 series A-1 convertible preferred shares at a price of $1,000 per share for gross proceeds of $100,000,000 in its first tranche closing. The second closing of $100,000,000 is expected to occur on or before March 31, 2025.
Board Change • Mar 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
공시 • Mar 03Canaan Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2024Canaan Inc. provided earnings guidance for the fourth quarter ended December 31, 2024. For the quarter, the company’s total revenues are expected to be approximately USD 89 million.
Board Change • Jan 29Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
공시 • Jan 21Canaan Inc. Provides Revenue Guidance for the Fiscal Year 2025Canaan Inc. provided revenue guidance for the fiscal year 2025. For the year, the company expects total revenues in the range of USD 900 million to USD 1.1 billion.
공시 • Jan 08Canaan Introduces Revolutionary Bitcoin Mining Heaters for Home and Personal Use in Ces 2025Canaan INC announced the launch of the Avalon Mini 3 and Nano 3S in Las Vegas, CES. The two innovative Bitcoin mining devices are designed to democratize cryptocurrency mining for individuals and turning a home heating system into a crypto mining device. Product Innovation; Canaan is redefining home cryptocurrency mining with two devices. The Avalon Mini 3, with a Hashrate of 37.5Th/s, offers a unique dual-purpose solution, combining efficient Bitcoin mining with home heating. The app-controlled operation and sleek, quiet design, provides a remarkably easy-to-use, energy-efficient solution for mining newcomers and enthusiasts. The Avalon Nano 3S, which is upgraded from the widely-welcomed Avalon Nano 3, with a Hashrate of 6Th/s, complements this offering as an affordable, beginner-friendly Bitcoin mining device. Its compact and portable design alongside its low power consumption makes it ideal for individual users while supporting the broader goal of Bitcoin network decentralization. Reimagining Technology Efficiency; The Avalon Mini 3 can simultaneously mine Bitcoin and warm living spaces, offering homeowners a unique way to offset energy costs and reduce environmental impact. This device gives users innovative access to heat recycling, turning the computational work of Bitcoin mining into a dual-purpose solution that provides both digital currency and home comfort.
공시 • Dec 24Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million.Canaan Inc. has filed a Follow-on Equity Offering in the amount of $270 million. Security Name: American Depositary Shares Security Type: Depositary Receipt (Common Stock) Transaction Features: At the Market Offering
Board Change • Dec 06Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
공시 • Nov 28Canaan Inc. announced that it has received $30 million in fundingOn November 26, 2024, Canaan Inc. closed the transaction.
공시 • Nov 21Canaan Inc. announced that it expects to receive $30 million in fundingCanaan Inc. announced that it has entered into a securities purchase agreement with an institutional investor pursuant to which the Company shall issue and sell to the Buyer up to 30,000 Series A-1 Preferred Shares at the price of $1,000.00 for each Series A-1 Preferred Share for the gross proceeds of $30,000,000 on November 19, 2024. The Securities Purchase Agreement contains customary representations, warranties and agreements by the Company and the Buyer, and indemnification obligations of the Company against certain liabilities, including for liabilities under the Securities Act of 1933, as amended.
Reported Earnings • Nov 21Third quarter 2024 earnings released: US$0.27 loss per share (vs US$0.47 loss in 3Q 2023)Third quarter 2024 results: US$0.27 loss per share (improved from US$0.47 loss in 3Q 2023). Revenue: US$73.6m (up 121% from 3Q 2023). Net loss: US$75.6m (loss narrowed 5.6% from 3Q 2023). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Global Tech industry.
공시 • Nov 20Canaan Inc. Provides Revenue Guidance for the Fourth Quarter of 2024Canaan Inc. provided revenue guidance for the fourth quarter of 2024. For the fourth quarter of 2024, the Company expects total revenues to be approximately USD 80 million.
공시 • Nov 14Canaan Inc. to Report Q3, 2024 Results on Nov 20, 2024Canaan Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 20, 2024
공시 • Nov 08Canaan Upgrades Avalon Miner A15 Series with Superior PerformanceCanaan Inc. upgraded Avalon Miner A15 series mining machines. In April 2024, Canaan released its Avalon Miner A1566 air cooling machine with 185 TH/s hash rate and power efficiency ratio of 18.5 J/TH in Hong Kong. After continuous improvements in chips and embedded software in the past months, new Avalon Miner A15 series now features four models: 1, the high-end model Avalon Miner A15Pro with a hashrate no less than 215T and a power efficiency of 16.8J/T; 2, A15XP with a hashrate of 200-212T and a power efficiency of 17.8J/T; 3, A15 with a hashrate of 188-203T and a power efficiency of 18.8J/T; 4, A15SE with a hashrate of 170-185T and a power efficiency of 19.9J/T. The upgraded Avalon Miner A15 series offers notable excellent hashrate with better power efficiency, to address the escalating computational requirements and meet the diverse demands from customers of different mining scales, in different mining environments, aiming to deliver a more efficient and stable mining experience for miners around the world.Avalon Miner A15 series can be integrate seamlessly into Avalon Box with Canaan's One-Stop Mining Solutions. Along with 24/7 multilingual support across over 20 countries, Canaan reaffirms its commitment to providing miners worldwide with fast, reliable, and efficient solutions for mining deployment and maintenance. Avalon Miner A15 series can be ordered from now.
New Risk • Sep 10New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$190m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$190m free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$132m net loss next year).
Reported Earnings • Aug 16Second quarter 2024 earnings released: US$0.008 loss per share (vs US$0.15 loss in 2Q 2023)Second quarter 2024 results: US$0.008 loss per share (improved from US$0.15 loss in 2Q 2023). Revenue: US$36.8m (up 97% from 2Q 2023). Net loss: US$2.49m (loss narrowed 91% from 2Q 2023). Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Global Tech industry.
공시 • Aug 15+ 1 more updateCanaan Inc. Reports Unaudited Consolidated Impairment Charges Results for the Second Quarter Ended June 30, 2024Canaan Inc. reported unaudited consolidated impairment charges results for the second quarter ended June 30, 2024. For the quarter, the company reported impairment on property, equipment and software of USD 798,000 against USD 9,111,000 a year ago.
공시 • Aug 06Canaan Inc. to Report Q2, 2024 Results on Aug 15, 2024Canaan Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 15, 2024
공시 • Jun 27Canaan Inc. Launches the Third Generation of Immersion Cooling Avalon Miner A1566I at Mining Disrupt 2024Canaan Inc. unveiled its latest advancement, the Avalon Immersion Cooling Miner A1566I, with a hash rate of 249T and an energy efficiency of 19J/TH with a power consumption of 4500W, at the esteemed Mining Disrupt 2024 conference. Ning Zhang, Canaan's Vice President and General Manager of Canaan U.S. expressed his enthusiasm: "We are thrilled to introduce the Avalon Miner A1566I. This product epitomizes commitment to technological innovation and delivering efficient, environmentally friendly mining solutions to customers." Key Features of Avalon Immersion Cooling Miner A1566I: Power Efficiency: With a power consumption of 4500W and an energy efficiency of 19J/TH, the Avalon Miner A1566I maximizes mining output while minimizing operational costs. Innovative Design: Enhanced chip technology improves stability and performance, reducing the energy efficiency ratio to 19J/TH. The rear mesh exhaust design replaces traditional fans, significantly lowering noise levels. High ROI: The Avalon Miner A1566I's high hash rate and low power consumption are poised to increase profitability, especially post-Bitcoin's fourth halving. Versatile Operating Conditions: Capable of operating in temperatures from 20°C to 50°C with a voltage range of 220-277V. Its lightweight design (11kg) facilitates easy transport and installation. Flexible Design for Market Adaptation: the Avalon Miner A1566I is designed to seamlessly integrate with current tank setups, avoiding inefficiencies caused by larger, non-specialized units. The Avalon Miner A1566I enhances the miner's performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan's ESG (Environmental, Social, and Governance) strategy.Ning Zhang also released Canaan's ESG policy during his speech: "Canaan will give 2% Voucher to miners using green energes for their new orders", which demonstrated the company's determination of green mining.The successful launch of the Avalon Miner A1566I at Mining Disrupt 2024 underscores Canaan's leading position in the Bitcoin mining industry, setting a clear direction for future advancements. Canaan continues to drive industry innovation, providing optimal mining solutions for clients worldwide.
New Risk • May 23New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 70% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 9.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding).
Reported Earnings • May 19First quarter 2024 earnings released: US$0.16 loss per share (vs US$0.51 loss in 1Q 2023)First quarter 2024 results: US$0.16 loss per share (improved from US$0.51 loss in 1Q 2023). Revenue: US$35.1m (down 37% from 1Q 2023). Net loss: US$39.4m (loss narrowed 53% from 1Q 2023).
공시 • May 18Canaan Inc. Provides Revenue Guidance for the Third Quarter of 2024Canaan Inc. provided revenue guidance for the third quarter of 2024. For the quarter, the company expects total revenues to be approximately USD 70 million. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.
공시 • May 12Canaan Inc. to Report Q1, 2024 Results on May 17, 2024Canaan Inc. announced that they will report Q1, 2024 results Pre-Market on May 17, 2024
공시 • May 10Canaan Inc. Debuts Avalon A15 New Product SeriesCanaan Inc. launched the star product A 1566 of Avalon A15 series, an upgraded bitcoin mining machine with Canaan's most advanced technology. Building on the pioneering 1xJ/T series, the Avalon A15, particularly the A1566 model, with an energy efficiency ratio of 18.5J/T, with its 185T hashing power and 3420W power consumption, sets a new benchmark in performance with improved power efficiency. This series reflects Canaan's intensified efforts in product development, market research and in collaboration with key partners, to deliver high quality, resilient mining solutions, especially crucial in the post-halving era. The Avalon A15 series is set to enhance profitability for users, reinforcing Canaan's commitment to innovation in the blockchain sector. Model: A1566-185T; Algorithm/Crypto: SHA256/BTC; Hash Rate@25?, TH/s: 185 ±5%; Power Consumption @Tj75?, Watt: 3420 ±10%; Power Efficient @Tj75°C, J/TH: 18.5 ±5%; Voltage: 200 - 300V; Net Weight, kg: 14.9; Work temperature °C: -5~35.
Reported Earnings • Apr 20Full year 2023 earnings released: US$2.41 loss per share (vs US$0.41 profit in FY 2022)Full year 2023 results: US$2.41 loss per share (down from US$0.41 profit in FY 2022). Revenue: US$211.5m (down 68% from FY 2022). Net loss: US$414.2m (down US$484.0m from profit in FY 2022).
공시 • Apr 18Canaan Inc. announced that it expects to receive $132 million in fundingCanaan Inc. announced a private placement that it will receive $132,000,000 in Series B financing on April 17, 2024.
Board Change • Apr 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
공시 • Mar 01Canaan Inc. Provides Revenue Guidance for the First Quarter of 2024, and the Second Quarter of 2024Canaan Inc. provided revenue guidance for the first quarter of 2024, and the second quarter of 2024. For the first quarter of 2024, and the second quarter of 2024, the company expects total revenues to be approximately USD 33 million and USD 70 million, respectively, considering the challenging market conditions across the industry.
Reported Earnings • Feb 28Full year 2023 earnings released: US$2.41 loss per share (vs US$0.41 profit in FY 2022)Full year 2023 results: US$2.41 loss per share (down from US$0.41 profit in FY 2022). Revenue: US$211.5m (down 67% from FY 2022). Net loss: US$414.2m (down US$484.7m from profit in FY 2022).
공시 • Feb 22Canaan Inc. to Report Q4, 2023 Results on Feb 27, 2024Canaan Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 27, 2024
Board Change • Jan 30Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
New Risk • Jan 23New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 48% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk Shareholders have been diluted in the past year (48% increase in shares outstanding).
Board Change • Dec 29Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Hongchao Du was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.