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CANAAN INC.

(CAN)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
3.100 USD   -8.28%
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Canaan : Amendment to Annual Report by Foreign Issuer (Form 20-F/A)

12/22/2021 | 11:27am EDT
Form 20-F/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
20-F/A
(Amendment No. 1)
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2020.
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the transition period fromto
Commission file number:
001-39127
Canaan Inc.
(Exact name of Registrant as specified in its charter)
Cayman Islands
(Jurisdiction of incorporation or organization)
ROOM 2101, 21ST Floor, Building 1
Yard 1, No. 81 Beiqing Road
Haidian District, Beijing, 100094
People's Republic of China
(Address of principal executive offices)
James Jin Cheng, Chief Financial Ofiicer
Telephone:
+86-010-6097-4080
Email: IR@canaan-creative.com
ROOM 2101, 21ST Floor, Building 1
Yard 1, No. 81 Beiqing Road
Haidian District, Beijing, 100094
People's Republic of China
* (Name, Telephone,
E-mail
and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act.
Title of each class
Trading
Symbol
Name of each exchange
on which registered
American Depositary Shares, each representing 15 Class A ordinary share
CAN
NASDAQ Global Market.
Class A ordinary shares, par value US$0.00000005 per share*
NASDAQ Global Market.
*
Not for trading, but only in connection with the registration of American Depositary Shares representing such Class A ordinary shares pursuant to the requirements of the Securities and Exchange Commission.
Securities registered or to be registered pursuant to Section 12(g) of the Act. None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None
Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report.
2,060,597,778 Class A ordinary shares were outstanding as of December 31, 2020
311,624,444 Class B ordinary shares were outstanding as of December 31, 2020
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
☒ Yes ☐ No
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
☐ Yes ☒ No
Note - Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
☒ Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
☒ Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," and "emerging growth company" in Rule
12b-2
of the Exchange Act. (Check one):
Large accelerated filer Accelerated filer
Non-accelerated filer Emerging growth company
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. ☐
† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP International Financial Reporting Standards as issued by the International Accounting Standards Board Other
If "Other" has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.
☐ Item 17 ☐ Item 18
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule
12b-2
of the Exchange Act).
☐ Yes ☒ No
(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.
☐ Yes ☐ No
EXPLANATORY NOTE
The registrant filed with the Securities and Exchange Commission (the "SEC") an Annual Report on Form
20-F
for the fiscal year ended December 31, 2020 (the "Original Form
20-F")
on April 21, 2021. However, the registrant inadvertently omitted certain required language from paragraph 4 of the certifications of the registrant's principal executive officer and principal financial officer required by Exchange Act Rule
13a-14(a),
as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
This Amendment No. 1 on Form
20-F/A
is being filed solely for the purpose of filing revised certifications by the registrant's principal executive officer and principal financial officer, including the previously omitted language. These revised certifications are currently dated, refer to this Form
20-F/A,
and are being included as exhibits to this Amendment No.1 on Form
20-F/A
under Part II, Item 19 hereof. In accordance with applicable SEC interpretations, this Form
20-F/A
contains only the cover page, this explanatory note, a signature page and the revised certifications (containing only paragraphs 1, 2, 4 and 5 of the text otherwise prescribed by Item 601(b)(31)(i) of Regulation
S-K).
Except as described above, no attempt has been made in this Amendment No.1 on Form
20-F/A
to modify or update the other disclosures or exhibits presented in the Original Form
20-F.
Except as presented in this Form
20-F/A
and except for Exhibits 12.1 and 12.2 filed herewith, this Amendment No. 1 on Form
20-F/A
does not reflect events occurring after the filing of the Original Form
20-F,
or modify or update those disclosures. Accordingly, this Amendment No. 1 on Form
20-F/A
should be read in conjunction with the Original Form
20-F
and the registrant's other filings with the SEC.
1
PART II
ITEM 19.
EXHIBITS
Exhibit

Number
Description of Exhibits
*12.1 Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
*12.2 Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
*101.INS Inline XBRL Instance Document-this instance document does not appear on the Interactive Data File because its XBRL tags are not embedded within the Inline XBRL document
*101.SCH Inline XBRL Taxonomy Extension Schema Document
*101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document
*101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document
*101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document
*101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
*
Filed herewith
1
SIGNATURES
The registrant hereby certifies that it meets all of the requirements for filing on Form
20-F
and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.
Canaan Inc.
By:
/s/ Nangeng Zhang
Name: Nangeng Zhang
Title: Chairman and Chief Executive Officer
Date: December 22, 2021
2

Disclaimer

Canaan Inc. published this content on 22 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2021 16:26:31 UTC.


© Publicnow 2021
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Financials
Sales 2022 7 077 M 1 057 M 1 057 M
Net income 2022 2 064 M 308 M 308 M
Net Debt 2022 - - -
P/E ratio 2022 1,78x
Yield 2022 -
Capitalization 3 565 M 533 M 533 M
Capi. / Sales 2022 0,50x
Capi. / Sales 2023 0,38x
Nbr of Employees 346
Free-Float 79,5%
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Technical analysis trends CANAAN INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Last Close Price 20,75 CNY
Average target price 67,12 CNY
Spread / Average Target 223%
EPS Revisions
Managers and Directors
N. G. Zhang Chairman & Chief Executive Officer
Jin Cheng Chief Financial Officer
Wu Jing Jie Vice President-Technology
Wenjun Zhang Independent Director
Hongchao Du Independent Director
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