Canaan released an official announcement: production and operation completed normally, management iteration and more unified governance

Wu said blockchain exclusively learned that Canaan officially issued a long announcement in response to the "change". The announcement stated that Canaan's current production and business activities are normal. After the above industrial and commercial changes are completed, Canaan, as a Nasdaq-listed company in the United States, will have Zhang Nangeng as the company's executive director, general manager, and legal representative of all its subsidiaries in China, and the company's governance structure will be clearer and more unified. The announcement stated that after Canaan went public, Chairman and CEO Zhang Nangeng will own 15.0% of the shares and 72.6% of the voting rights. Regardless of Canaan's development history or equity distribution, Zhang Nangeng has absolute control over the company. The company will continue to use ASIC technology as its main channel and promote the "blockchain + AI" strategy.

Previously, Wu said blockchain exclusively learned that on a certain day in late June, Zhang Nangeng and Beijing Canaan executives went to Hangzhou, took away the official seal and business license of Canaan Hangzhou, and dismissed several managers of Hangzhou Canaan. On July 8, Tianyancha showed that several managers of Hangzhou Canaan Yunzhi Information Technology Co., Ltd. withdrew from the main personnel. (Scan the code to read the full text, participate in the discussion and add WeChat wushuoblockchain, welcome to share, please be sure to indicate the source when reprinting)

The following is the full text of the announcement:

Today, it was learned that some media reported that Hangzhou Canaan Creative Information Technology Co., Ltd. had undergone industrial and commercial changes, and the former directors Li Jiaxuan, Kong Jianping, Sun Qifeng, and supervisor Tu Songhua withdrew from the main personnel. Canaan's current production and operation activities are all normal. After the completion of the above industrial and commercial changes, Canaan, as a Nasdaq-listed company in the United States, will have Zhang Nangeng as the company's executive director, general manager, and legal representative of all its subsidiaries in China, and the company's governance structure will be clearer and more unified. The company will continue to focus on ASIC technology and promote the "blockchain + AI" strategy.

Canaan's next step: three aspects of innovation to open up the entire chain of blockchain computing power services

At present, Canaan is increasing its investment in the research and development of chips and mining machine products, preparing for the second half of the mining machine industry, while also actively seeking breakthroughs in the way computing power is delivered. Through innovations in technology, products and SaaS, Canaan will create a one-stop solution from chips to computing power delivery in the future.

In terms of process innovation, Canaan has been promoting the development of mining chips with manufacturers such as TSMC, SMIC and Samsung. Public information shows that Canaan released the first generation of products based on Samsung's 8nm process in Q4 last year, and achieved mass production and shipment in the first quarter of this year. The Bitcoin mining machine based on the 14nm process developed by Canaan and SMIC was also mass-produced and shipped in the second quarter of this year. At the same time, as one of TSMC's first 7nm strategic partners, Canaan is accelerating the development of 5nm ASIC chips with TSMC to consolidate its leadership in this field.

In terms of product innovation, Canaan has launched a new product design methodology based on its previous mining machine R&D experience. By optimizing the hardware and software design platform of the mining machine itself, a universal hardware design is used to reduce R&D costs, shorten the design cycle, and bring convenience to customers' deployment and operation and maintenance. The A1066Pro, which was recently praised by industry KOL VoskCoin, is the first mining machine product based on a platform design strategy. Among the top mining pools in the world, the computing power of this model in high-performance mode reaches 57TH/s, surpassing the official 55TH/s.

Based on this platform design, Canaan is currently actively promoting the launch of A1146 Pro and A1166Pro. These two models have been greatly optimized in core design indicators, with high computing power and low power consumption. While the computing power exceeds 80T, the energy efficiency is reduced to about 40J/T. The A10 series and A11 series have been recognized by the market. Recently, the company has successively obtained large orders from many major customers in key markets such as North America, Russia and Kazakhstan.

At the same time, Canaan has also made breakthroughs in advanced technologies such as liquid cooling, using immersion liquid cooling technology to further improve the heat dissipation performance of mining machines, thereby optimizing the energy efficiency of mining machines in physical design.

In terms of service innovation, Canaan is creating a cloud computing SaaS service model, providing native support for cloud mining software systems in the pre-installed software of mining machines. Zhang Nangeng, chairman and CEO of Canaan, said that the company has lowered the threshold for consumers to enter the field of Bitcoin mining through a series of SaaS solutions, helping customers reduce the cost of maintaining mining machines. As a result, the company has further improved the quality of its products, enabling the company to minimize the impact of fluctuations in Bitcoin prices and related derivatives during the Bitcoin halving process.

AI Business: Launching Milestone New Products to Start AI's Great Journey

Canaan has made breakthrough progress in the commercialization of AI. Following the implementation of smart energy consumption and smart parks, Canaan has successively developed liveness detection models, mask detection models, and mask-wearing face recognition models during the epidemic to enhance its technical capabilities in algorithm software development.

In June this year, Canaan released a smart terminal product equipped with the latest algorithm - Canaan Smart Access Control Attendance Machine, which fills the gaps in the company's facial access control product line in face recognition and liveness detection when wearing a mask. Public information shows that the product has an accuracy rate of 97.4% for face recognition when wearing a mask. It has the characteristics of millisecond-level recognition and local processing, and a built-in liveness detection model to prevent facial forgery such as photos and videos. It is used in special scenarios such as food processing, pharmaceutical companies, office buildings, hospitals, banks and industrial parks.

Zhang Nangeng said that Canaan's intelligent access control and attendance machine has sufficient commercial capabilities, and this is a milestone that marks the beginning of Canaan AI's great journey.

At present, based on the launch of the first-generation AI chip K210, Canaan has established strategic cooperation with leading domestic customers, such as establishing strategic cooperation with leading domestic agricultural technology companies to provide intelligent solutions for the agricultural field; cooperating with a world-leading soft drink manufacturer to provide smart industrial solutions; and establishing initial contact with DJI and UBTECH to explore the integration of AI and STEAM education.

Kanzhi K210 has also been recognized by technical communities at home and abroad. At the end of last year, a senior engineer named Jean-Luc shared his work on deploying the Linux 5.1 system on K210 in the developer community. In April this year, the Linux 5.7 kernel added a support patch for K210, which means that the mainstream operating system for embedded development has accepted K210. Just two days after the news was released, K210 received support for another system-level development language RUST. In addition, Western Digital also uses K210 as a typical example of supporting RISC-V NOMMU.

Public data shows that the second-generation AI chip K510 will also be launched this year. The chip still uses the upgraded RISC-V multi-core heterogeneous processor architecture. In addition to improving the original KPU, a computing module GNNE has also been added. On the other hand, the second-generation chip is optimized for the 5G communication environment and is equipped with multi-channel high-definition and depth camera interfaces. It will be used in smart retail, smart industry, ADAS assisted driving and finance.

Focus on the engineer culture management team to complete professional iteration

Public data shows that after Canaan went public, Chairman and CEO Zhang Nangeng owned 15.0% of the shares and 72.6% of the voting rights. Whether from the development history of Canaan or the equity distribution, Zhang Nangeng has absolute control over the company. As the founder, Zhang Nangeng personally promoted every step of the company's development. In 2013, he took the lead in developing the world's first blockchain ASIC mining machine; in 2016, he officially launched the AI ​​research and development project; in 2018, he released the first 7nm chip and the first generation of AI chip K210. Zhang Nangeng, who is well versed in technology, can always lead the company to keep pace with the development of the industry and endow the company with a strong cultural heritage of engineers.

The average age of Canaan's R&D team is 32 years old, and most of them have more than 8 years of experience. They are a young team full of passion and experience. In addition to having rich R&D and management experience in the chip field, the management team also has rich experience in international market strategic planning, corporate management, and future layout of high-tech industries. These experiences and capabilities have helped Canaan's work in technology R&D and market development, and also given Canaan the confidence to continue to maintain its leading position in the chip industry's transformation and the next round of growth.

Since its listing, Canaan has continuously optimized its corporate governance structure, committed to promoting the modernization of its governance system and governance capabilities, and continuously optimized the operating mechanism of scientific decision-making, efficient execution by senior management, and strict supervision by the Board of Supervisors; continuously promoted the deep integration of corporate culture and business management; in terms of product quality, capital, management, etc., the company has formulated relevant rules and regulations and in-process risk control audit processes, and strictly supervised and managed. The purpose of this is to maximize the interests of shareholders.