Canaan statement: Thank you Kong Jianping and Sun Qifeng and wish you greater success in your new business

On August 3, Beijing time, Canaan Technology completed the replacement of directors and independent directors. Kong Jianping and Sun Qifeng no longer serve as co-chairmen and directors of the company's board of directors due to the expiration of their terms. In addition, independent directors Zhang Hong, Yang Xiaohu and Luo Mei also resigned due to the expiration of their terms. At the same time, Canaan Technology added Du Hongchao, Shu Zhitang, Zhang Wenjun and Zhang Yaping as independent directors of the company.

Canaan Technology said that the company has always been committed to improving its corporate governance capabilities. The addition of new directors will enhance the company's management capabilities in blockchain and the Internet, law, corporate management and financial management, and the company's business development will also receive valuable guidance.

Canaan expressed its gratitude to the outgoing directors:

Canaan Technology expressed its gratitude to Mr. Kong Jianping and Mr. Sun Qifeng for their long-term contributions to the company, and wished Mr. Kong Jianping and Mr. Sun Qifeng to continue to create brilliance in their new careers.

The longest love confession is to walk together

Mr. Kong Jianping and others became early investors of Hangzhou Canaan Creative Information Technology Co., Ltd. ("Canaan Creative") after investing in the company in 2015. They have been optimistic about Canaan Creative and have continued to increase their holdings of Canaan Creative shares. In the same year, Mr. Kong Jianping also introduced institutional investments such as the Hangzhou Branch of the Yangtze River Delta Research Institute of Zhejiang Tsinghua University to Canaan Creative.

Since then, Canaan Creative has developed an indissoluble bond with the beautiful city of Hangzhou. As Zhang Nangeng, Chairman and CEO of Canaan Technology, said, "We think Hangzhou is beautiful. In addition to the beautiful scenery, the people of Hangzhou are also beautiful. They helped us when the company was just starting out."

While investing in Canaan Creative, Mr. Kong Jianping also joined the management of Canaan Creative. Externally, Mr. Zhang Nangeng and Mr. Kong Jianping led the company's management to jointly promote the company's listing process in the global mainstream capital market! Internally, they also jointly promoted the migration of ASIC technology from blockchain computing chip technology to the field of artificial intelligence. Over the years, Mr. Kong Jianping has always adhered to the company's concept of unified management by one CEO , supporting Chairman and CEO Mr. Zhang Nangeng to unify the management of all subsidiaries of Canaan Technology and promote the company's professional governance. The management has always maintained close cooperation and worked hard for the company's stable and upward development. In this process, everyone worked together to lead the company to overcome difficulties one after another, allowing the company to maintain a rapid and stable development momentum in both blockchain and artificial intelligence chip business areas.

In November 2019, Canaan Inc. was successfully listed on the Nasdaq in the United States and was hailed by the industry as the world's first blockchain stock and China's first AI chip stock with independent intellectual property rights. This moment is a lucky moment for all Canaan Inc. people!

Although Mr. Kong Jianping has left due to the expiration of his term, all the efforts made by Mr. Kong Jianping will always be engraved in the development history of Canaan Technology. Next, Mr. Kong Jianping will continue to maintain his pioneering spirit in his favorite track and build the silicon-based civilization he believes in. The most long-lasting love in the world is to walk together, and all Canaan Technology people will send the best wishes to Mr. Kong Jianping. In the future, both Canaan Technology and Mr. Kong Jianping will continue to work together for the great vision of "improving social operation efficiency and improving human lifestyles."

The following are personal introductions of the four new independent directors, ranked in alphabetical order by surname.

Mr. Du Hongchao is currently the Internet+ initiator of the Internet Society of China. Mr. Du Hongchao has 27 years of continuous experience in the field of information technology. He has developed a series of English-Chinese translation software "English-Chinese Communication" and "Instant Messenger" and other real-time English translation systems on the screen; developed the first Chinese Windows platform "Cross-Strait Communication" based on the Internet usage environment; founded the largest IT community in China, DoNews.com, etc. All kinds of software and platforms are widely used by users at home and abroad. Mr. Du has served as the general manager of Jiangmin Antivirus Software and the Internet New Media Consultant of the State-owned Assets Supervision and Administration Commission of the State Council. Mr. Du has also developed a universal game card and its copying system, and won the gold medal at the National University Science and Technology Achievements Expo.

Shu Zhitang is currently the founding partner and management committee member of Beijing Zhide Law Firm. He was a practicing lawyer and partner of Beijing Tongshang Law Firm. Prior to that, Mr. Shu worked for the Science and Technology Commission of Xiangfan City, Hubei Province, Ping An Insurance, Taikang Life Insurance, Beijing Aerospace Pulin, etc. Mr. Shu has more than 13 years of experience as a lawyer and more than 14 years of experience in corporate management.

Mr. Zhang Wenjun has more than 20 years of experience in corporate management. He is responsible for the management functions of multiple departments within the company and the coordination of cross-departmental work. Mr. Zhang is the managing director of Beijing Dadao Zhijian Technology Co., Ltd. and was formerly the vice president of Soft Control Co., Ltd. During his twelve years in office, he led the listing and post-listing management of Soft Control Co., Ltd. and related work in the capital market. Mr. Zhang has a deep understanding of corporate strategy and team management. Previously, he served as the deputy general manager of Dalian Rubber and Plastic Machinery Factory Import and Export Company, Dalian Rubber and Plastic Machinery Factory Project Manager, and Engineer.

Ms. Zhang Yaping has more than 23 years of experience in corporate financial management, including more than 9 years of experience as a financial director of a listed company. Ms. Zhang has served as the financial director and supervisor of Beijing Jingxi Culture and Tourism Co., Ltd. and the deputy manager of the Finance Department of China Huali Holding Group Co., Ltd. Ms. Zhang not only has rich experience in financial work, but is also familiar with the financial auditing, compliance management, and risk control management of listed companies. Ms. Zhang holds the CPA certification; intermediate and senior accounting titles (under review); and senior international financial management qualification.

Zhang Nangeng, Chairman and CEO of Canaan Inc., said, "We are very pleased that Mr. Du Hongchao, Lawyer Shu Zhitang, Mr. Zhang Wenjun and Ms. Zhang Yaping have become our new directors. Their rich leadership experience in blockchain and the Internet, law, corporate management and financial management, as well as professional corporate governance capabilities will provide valuable guidance for our business development."