Nanjing Canaan Bixun Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 42 million on December 28, 2021. The transaction will include participation from returning investor Zhejiang Canaan Technology Limited to retain its 100% stake holding in the company. The transaction has been approved in the fifth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors of the investor.

Post the transaction, the registered capital of the company will increase from CNY 350 million to CNY 392 million.