Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended June 30, 2020.

Total net revenues in the fourth quarter of 2019 increased by 66.8% to RMB463.2 million (US$66.5 million) from RMB277.7 million in the same period of 2018. The growth was mainly driven by increases in total computing power sold. During the fourth quarter of 2019, total computing power sold increased by 86.6% year over year to 2.9 million Thash/s from 1.6 million Thash/s in the same period of 2018.

Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Ms. Li Zhang (“Ms. Zhang”), has resigned as a vice president of the Company to pursue other opportunities.

Results come from perseverance, not the other way around. For nearly half a year, we have marched forward, through hardship, towards a shared vision.