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Canaan Technology received a notification from Nasdaq regarding the minimum bid requirement.
According to Wu, Canaan Creative has received a notice from Nasdaq stating that the closing price of its American Depositary Shares (ADS) has been below $1.00 per share for 30 consecutive trading days, which does not comply with the minimum bid requirement of Nasdaq listing rule 5550(a)(2). The company has a grace period of 180 calendar days (until November 12, 2025) to regain compliance by having the closing price of its ADS reach or exceed $1.00 for any 10 consecutive trading days. If compliance is not restored within the grace period, Canaan may face delisting risks.