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Canaan Inc Reports unaudited Second Quarter 2021 Financial Results and Announces Change of Board Composition

Canaan Inc Reports unaudited Second Quarter 2021 Financial Results and Announces Change of Board Composition

NASDAQ: CAN, the leading high-performance computing solutions provider, today announced its unaudited financial results for the second quarter ended June 3021, and the change of the management.

The operating and financial points of the Second Quarter 2021 are the highlights of operations and the financial trends of second quarter 2022.

Total computing power sold. By the first quarter of 2021, the smallest amount was 5.9 million Thash/s, up 126.9% from 2.6 million in the same period as 2020, and up 200.0% from 2.0 million. The robust year-over-year and sequential increase resulted in mainly the increased number of Bitcoin mining machines being delivered driven by strong market demand.

The Company had a company as of June 30, 2021. Cash and cash equivalents are exchanged in cash and money equivalent. Compared to RMB391.3 million as of December 31, 2020, primarily due to the larger number of down payments received by the Company due mainly to increased sales orders of Bitcoin mining machines, and the increase in sales of the increased volume In May 2021, the net proceeds from the Company's registered direct offer were made up.

Total net revenues for the year 2000 total total net revenue 1.1081.8 million (US$ 167,5 million), the largest quarterly sales in the Company's operating history, a 507.3% increase in tenth quarter of 2021 from 8.1 million in that period

Gross profit from the profit. RMB 447,1 million (US$66.2 million), up 887,0% from RGB 43.3 million in the same period of 2020, and up 119,9% from BMB194,2 million last quarter of 20

Net income from net income includes net earnings from the net net earning income. Compared to the same period of 2020, a net loss of RMB16.8 million in the first quarter of 2021 and reversal of RM1.2 million for the second quarter.

Net income redressed for Non-GAAP based net income (non-res incurred), net profit non-abacted (NEF) and non profit net net worth (excluding GST) (except for In the same period as 2020, the net loss of RMB16.0 million was RGB30.1 million (US$49,6 million), compared to a non-GAAP adjusted net income of RMMB320 in

"We achieved a remarkable performance in the second quarter of 2021," said Mr. Nangeng Zhang, Chairman and CEO of Canaan. By providing a robust 5.9 million Thash/s of computing power to our clients, we achieved record-high topline results, despite unexpected regulatory dynamics and Bitcoin price volatility. We secured substantial preorders during the second quarter and recently, thanks to effective execution of our strategies, including business development in the overseas markets, institutional client relations building and strengthening our supply chain. In terms of our self-operated Bitcoin mining program, we plan to continue to deploy computing power to exploit the immense opportunities of Bitcoin mine. We made encouraging progress in the AI industry, as well as launching our self-developed edge AI chip, Kendryte K510, and gaining a lot of demand from multiple outstanding clients in telecommunications. As long as we are able to gain a greater market share in our Bitcoin mining machine business, we continue our research and development efforts to advance our underlying ASIC and edge computing technologies. We'll propel forward our growth prospects."

"We reported a solid financial performance for the quarter." The multi-million dollar portfolio, which was able to earn more than Rs 1.08 billion, and a non-GAAP net profit of Rs 330 million, has accumulated prepayments, with the money remaining in our This enabled us to secure future wafer supply, grow our research and development team, and carry out strategic investment. We are fully aware of the industry-wide challenges, such as the Bitcoin price fluctuation, wafer supply instability, regulatory uncertainty in different countries. Nevertheless, we remain confident in our effective growth strategies, technologically advanced products, solid operating capabilities, and the enormous potential of the industry."

Results of the second quarter 2021 Financial results: 2020 results.

Total net revenues (excluding net revenue) In the second quarter of 2021 increased by 507.3 % from RMB1808,8 million (US$168,5 million) in the same period of 2020, and up 168.6% compared to RGB408, The year-over-year and quarter-quarter increase was mainly due to the substantial increase in total computing power sold.

Cost of revenue incurred In the second quarter of 2021 increased to RMB 64.6 million (US$101,4 million) from RGB 134.8 million in the same period of 2020 and RBM208,6 million first quarter. The increase in Thash sales volume and the increase of cost per Thass was reflected in the year-over-year and sequential cost of revenue.

Profit brut is profit profit based on the profits. In the second quarter of 2021, RMB 427,1 million (US$66.2 million), up 887,0% from RGB 43.3 million in the same period of 2020, and up 119,9% from the R

Total expenses for operating expenses incurred total expenses totaled from expenses on operating costs. RMB261.6 million in the second quarter of 2021 were $40.5 million, respectively, compared to RGB662.2 million for the same period of 2020 and RB207.9 million during the first quarter.

In the second quarter of 2021, the expenses for research and development in the first quarter were RMB64.0 million ($9.9 million), a 145.4% increase in total from RBM26.1 million in 2020, and The increase was mostly due to the increased headcounts in technology related departments. In the second quarter of 2021, share-based compensation expenses costed RMB 23,7 million (US$ 3,7 Million).

In the second quarter of 2021, sales and marketing expenses were RMB25,8 million (US$4.0 million), compared with RGB6.5 million in the same period of 2020 and RMU6.3 million first quarter 2020. The increase was primarily attributed to the increased sales bonus for the outstanding sales performance in the quarter. Sales and marketing expenses in the second quarter of 2021 also included share-based compensation expenses of RMB1.8 million (US$0.3 million).

RMB 171.9 million (US$26.6 million), compared to RGB 29.6 million in 2020 and RTB 143.4 million for the first quarter of 2021. The increase was due mainly to the staff and the rental costs for the new office expansion. In the second quarter of 2021, the general and administrative expenses also included share-based compensation expenses of RMB 1266.5 million (US$19.6 million).

Relatives to operations: operations profit. In the second quarter of 2021, a loss from operations of RMB18.9 million in the same period of 2020 and scald compared to s loss of operations in era 17:3 million

Change in the value of warrant liability when the warrant is fair. In the second quarter of 2021, a gain of RMB77,7 million (US$12.0 million) in the same period of 2020 and nil in first quarter in 2022 due to the fair value change in warrant

Total income attributable to ordinary shareholders is net income of ordinary shareholder. In the second quarter of 2021 reached a new high since the Company's IPO, to RMB245.0 million (US$37.9 million), compared to acquiring RGB16.8 million in the same period

Net income net income based on non-GAAP compared with net Income (non-tax) income. In the second quarter of 2021, the net loss of RMB320.1 million (US$49.6 million) was RGB320.0 million in the same period of 2020, and the return of a non-GAAP adjusted Share-based compensation expenses and change in fair value of warrant liability. For more information, please refer to "Use of Non-GAAP Financial Measures" in this press release.

Foreign currency translation adjustment, net of nil tax, foreign currency Translation adjustment. The US dollar depreciation in the second quarter of 2021, due to the US Dollar deprivation, a loss of $1.8 million ($1.6 million) in 2022, was able to gain 2.4 million

Basic net income per American depositary share ("ADS") is a basis net profit per US deposit statement share (Base net earnings per dollar of the American dollar) (Ades). In the second quarter of 2021, the number of MB1.46 (US$0.23) was RMB1.26. In comparison, basic net loss per ADS in the same period of 2020 was RMB0.11, while basic cash flow per aDS during the first quarter of 2021 was 0.01. Each ADS represents 15 of the Company's Class A ordinary shares.

Diluted net earnings per ADS per DDS Diluting net income per SDS (diluted net profit per DSDS). RMB 1,40 (US$ 0,22) in the second quarter of 2021 was a second half (second quarter). The total net loss per ADS in the same period of 2020 was RMB0.11, while the net earnings per EDS for the first quarter of 2021 was MB0.01. Each ADS represents 15 of the Company's Class A ordinary shares.

Contract obligations are the contract liabilities. As of June 30th, 2021, sold 1,040.6 million (US$161,2 million), a hausse from 431,4 million as of December 31, 2020, due to the increased down payments for the delivery of the

As of June 30, 2021, the Company had had a hold of the company since June 30th, 2022. Cash and cash equivalents are the same as cash and money equivalent. As of December 31, 2020, the RMB 1.220 million will rise by 211.8%, up from 1.3 million to 2.3 million (US$189.0 million), up a 1% compared to 31.3 millions

Recent developments are focusing on the past few developments.

The Company's Share Repurchase Update is the stock update of the Company.

Between September 22, 2020 and September 12, 2021, the Company deployed approximately US$9,3 million to repurchase approximately 2.51 million ADSs under the company's share stakes program with a total authorized amount of

Strategic investment is a strategic investment.

On August 11-2021, the company, with its own subsidiary, Hangzhou Canaan Creative Information Technology Limited, entered into an agreement with Pixelworks Semiconductor Technology (Shanghai) Ltd., to invest approximately $3 PWSH designs, manufactures and sells visual display processing semiconductors, and custom application specific integrated circuits solutions for video applications, advanced media processing, delivering and streaming of video efficiently in the target markets of smartphones, tablets, digital This investment reflects the company's strategy of further expanding Canaan'i power beyond crypto mining to AI solutions.

Change in Board compositions.

Mr. Jiaxuan Li, director of the Company, stepped down from the board of directors in order to keep his job motivated, effective September 15, 2021.

Mr. Jiaxuan Li has been a director of the company since December 2015. I would like to express my sincere gratitude to Mr. Jiaxuan Li, for his outstanding contribution to the Company over the past few years. We wish her success in her future endeavors.

Business Outlook

In the third quarter of 2021, the Company expects total revenues to grow by 10% to 30%. This forecast reflects the Company's current and preliminary opinions on the market and operation conditions, which are subject to change.

Contact information

The Company's management team will hold a direct-event conference call on Wednesday, September 15 2021 at 8:00 Eastern Time (or 2:00 Beijing Time on the same day) to discuss the financial results. The conference call details are as follows.

Canaan Inc. Second Quarter 2021 Earnings Conference CallRegistration Link: http://apac.directeventreg.com/registration/event/6764915.

All participants must use the link provided above to complete the online registration process before the conference call. After registering, each participant will receive a set of participants dial-in numbers, the Direct Event passcode and - if the participant enters / delegates receive an access-point, which can be used to join the

The replay of the conference call will be accessible until September 22, 2021, and you can call the following numbers by calling the number : "No, no, you're here, please."

In international: +61-2-8199-0299 United States: +1-646-254-3697 Hong Kong, China: (+852-3051-2780 Replay PIN: 6764915.

The live and archived webcast of the conference call will be available on the company's investor relations website at investor.canaan-creative.com.

Canaan Inc. About Can.

Canaan (NASDAQ: CAN), is a technology company that focuses on the ASIC high-performance computing chip design, chip research and development, computing equipment production and software services. The company's vision is that "super computing is what we do, social enrichment is why we did." Canaan has a rich experience in chip design and streamlined production in the ASIC field. In 2013, it released and mass produced its first ASIC Bitcoin mining machine. The industry's first 7nm ASIC chip was released in 2018, by Canaan. The company is providing energy efficient computing equipment to the cryptocurrency mining industry. In the same year, Canaan released the world's first RISC-V architecture commercial edge AI chip, and tapped the potential of ASIC technology in the field of high-performance computing and artificial intelligence.

Exchange Rate Information.

This announcement contains a translation of certain RMB amounts in US dollars at specified rates solely for the convenience of the reader. No matter what the fact is, all translations from RMB to US$ were made at the rate of RGB6.4566 to $ 1.00, the noon buying rate dated June 30, 2021, in the H.10 statistical The Company makes no representation that the RMB or US$ amounts referred may be converted into US or RGB, as it is, at any particular rate or at all.

The Safe Harbor Statements must be signed by Safeguard.

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by terminology such as "will," "expects," and "anticipates," as the "future", as well as other words "intends", "plans, Among other things, the business outlook and the quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make forward-looking statements written or oral, in its periodic reports to the Securities and Exchange Commission (SEC) on Forms 20F and 6K, and in the annual report to shareholders, Statements that aren't historical facts, including statements about Canaan Inc.'s beliefs and expectations, are forward-looking statements. Forwardlooking statements involve inherent risks and uncertainties. In addition to the Company's goals and strategies, the company'll continue to develop its operations and its future financial condition, and the expected price of Bitcoin; the anticipated growth of the Bitcoin industry and price price; and expectations of acquiring As a result, the Company's filings with the SEC include information concerning these and other risks, as well as the filing of its registration statement on Form F1 as amended, and its annual reports on Formula 20F

Use of Non-GAAP Financial Measures.

In evaluating Canaan's business, the Company uses non-GAAP measures such as adjusted net loss, adjusted income, or adjusted nonrelative income as supplemental measures to evaluate and evaluate its operating performance. The Company defines adjusted net loss as net losses excluding share-based compensation expense and change in fair value of warrant liability. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the company'' past performance and future prospects and allow for greater visibility on key metrics used in its financial

The non-GAAP financial measures are not defined by the U.S. GAAP and aren't presented in accordance with the United States GAPA. The non-GAAP financial measures don't have a valid effect as analytical tools, and investors shouldn'T consider them in isolation, or as reversals of net profits, cash flows provided by operations or other consolidated statements The company's operations are not covered by the effects of adjusted net loss on the business. One of the biggest limitations of using adjusted adjusted neoperability is that it doesn't reflect all of its earnings and expenses. Share-based compensation has been and may continue to be incurred in Canaan's business and is not reflected in the presentation of adjusted net income/loss. For example, the non-GAAP financial measures may differ from the information used by other companies, including peer companies and therefore their comparability may be limited. The Company reduces these limitations by reconciling non-GAAP financial measures with the most comparable GAAP performance measures, all of which should be considered when evaluating the Company's performance.

Contact Us for investor relations with the company.

Canaan Inc.Mr. Shaoke LiEmail: [email protected]

ICR, LLCRobin YangTel: +1 (347) 396-3281Email: [email protected]

CANAAN INC.

UNIVERSITY FEETS WITH UNAUDITED CONSOLIDATED BALANCE CASES.

As far as share and per share data, as well as otherwise noted, all amounts of thousands of RMB (all amounts are in thousands, except share or per sharing data) (included: share, and not per shares, or

As of December 31, 2009, the number 31 shall be 31.

As of June 30th, 30 June, 15th July, 31st, 3:00.

2020

2021

2021

RMB

RMB

US$

ASSETS FOR A SET.

Current assets: $2,811.

Money and cash equivalents are cash and money equivalent.

3391 310

1 220 236 dollars.

188 990 dollars - 186 900 dollars.

Restricted cash is in cash.

4 4494

126.

20

Short-term investments are short- and short term investments.

66.2386, 386 o'clock.

- ...

- .

At the expense of a return, the balance will be refunded.

7 128

372

58 people were 59.

Inventors are the inventories.

225.522 were 2nd and 2d.

587 112 people are 5 87.112 dollars.

90 932 people have 90.932 lives.

Prepayments and other current assets are available.

316 366 - 330,66366.

1 419 606 people have signed up for the project.

219,869 vs. 220,469.

Total current assets are all current based on the total assets.

1 007 206,206.

3 227 452 m2 (3 2270 442) - 3 -227 452 mm 3 462 x 2 27 i 472 o'clock 3 527 rh.

499,869 4999,069.

No cash is accumulated.

Item, equipment, and software, all of which are valuable,, etc.

12 193 were 12.

16 16 147

Two thousand fifty twenty-two.

In order to obtain the right-of-use asset, net net worth, is to use the rights of use, but not the property worth.

14 422 people, 14422 people.

30 423 dollars.

4 712 people.

Other non-current assets are under reserve.

2 530 oz

3 617 people are in attendance.

559

Capital investment is not limited to current investments.

25

-. /!

-!

Total non-current assets are not actuary assets.

29 170

50.187

7 7772

Total assets: total assets total total asset total: Total asset capital: 1 total Total monetary total : $39 / total net capital a total of $315 - total unit total active assets

1 036 376.

3,277,639 o'clock 3 sw 7 a.m.

507 641 - 50 7 a.m.

LIABILITIES, AND SHAREHOLDERS' EQUITY: LIABILITY, & MANUALITY.

Current liabilities are at liabilities.

Long-term debts are short-listed.

34 754 people are a 34-754-year-old woman.

-..?

- . '

A balance of a balance is payable.

37 407 people 402 will be a part of the 37.407 population.

107 790 people viewed 770 791.

16 695 yen ( 16 695).

Notes payable may be due by the date of the invoice.

13 963 people have already been to this country.

-!

- sluggish bluster /.

Contract liabilities are a contract obligation.

430,388 people 388.

1 040 551 - 1 060 40 561 / 1 040 555 o'clock

161 161,161

Accurate liabilities and other current liabilities are listed.

63,343 people were displaced by 363.334.

180,189.

27 908 people are now married.

Lease liabilities, current current lease interest.

12.621 people were 12 months old.

18 111

2 844 people are homeless.

Current liabilities total incurred will be liabilities.

592 476 dollars, 542 477.

1 346 641 people.

208 568,568.

Non-current liabilities: liabilities, liabilities and liabilities.

Non-current lease obligations, non-recurring lease liabilities.

3 3322 are

12 363 people

1 915 people have been to this one.

Warrant liability is based on warranty liability.

-,--

54 736 people, 36 are 54.736.

8 478 square feet

Other non-current liabilities include liabilities such as the resistance of other liabilities, including liabilities incurred by the time of the year.

8 020

6 929 people, 6-929.

1 072 people.

Total non-current liabilities is liabilities to the total of noncurrent assets.

11 342 people

74 02028 people.

11 465 were 11 o'clock.

Total liabilities total liabilities incurred total totals of the total expenditures total taxable total expenses total Total total of liabilities (including total budget)

603 818 o'clock 603.

1 420 669,69669.

220,033 are 221,020.033.

Shareholders' equity:

Ordinary shares (US$0.00000005) are listed as par value.

Assertations: 2,000,372,222,222; 1,000,000,000,000 shares authorized, 2,372,000,000 and 2,000,000,22 and 1 million,000,000 or more - million shares,2373,222 and 27,000,000;

2.613 169,978 shares issued, 2.328,226 132 and 2.327 yen, 62 and 2,326,132 et 122 mldr.

As of December 31, 2 569,273,888 shares were outstanding.

2020 and June 3o, 2021 respectively)) and (at least 2020, and 2003, threeo and three respectively, 2020) (but also 2020; and, at least, 3021, a half years later, in 20

1

1

- 'Of course!

A purchase of a share is not sufficient.

(1)

(1)

- --

dollars in Treasury (tr.

As of December 31, 2020 and June 30, 2021, there are shares as of 31 December 2020.

(23,915): (25,925)

(23.915)

(3,704)) (3 3,703)

Capital from the extra paid-in.

1 634 619, 644.

2.820.748 are 820,728.

436.878 438.678.

Statutory reserve reserves - statutory reserve a stornation b/ r.

97.307 are the 307th of the 7th.

97, 307 people have a 30 % share.

15 071 people.

Accumulated other comprehensive loss combined loss Acumulate other total loss cumulative loss aggregated loss total total recovery total cumulative losses totaling 80,000 $/day.

(79 780)

87,664) (87.665).

13 577) (13 - 577) (so far from the bottom.

Accumulated deficit accumulated deficit.

1 195 673) (1 196 yen)

(949,506)) - 949:506 506 dollars.

(147 060)

The total shareholder's equity is 100%.

432 558, 538, 442 559.

1 856 970 people.

287 608 people were married in 1960.

Total liabilities and shareholders' capital gain totals and shares share price totaled.

1 036 376 - 1 366.376.

3 277 639, 637, 3 -277 339.

507 651 - 50 7th 641 62 %.

CANAAN INC.

INTEGRATES OF COMPREHENSIVE (LOSS)/INCOME UNITED ESTATEMENTS SYSTEMS AND INCOMES ON UNAUDITED CONSOLIDATED STATERATIONS

(in sums of ten thousand RMB, except share and per share data, or as otherwise noted)) (all amounts are a full-scale amount, but summaries of the total amount of thousands of RB,

The three months ended after the weekend.

30 June June 30, 2020

31 March 2021

30 June 2021

30 June 2021

RMB

RMB

RMB

US$ (US$ US $ ( US ($ US US))

Net revenues come from net income.

Revenue from products revenue

162 925 $.

396 562 people.

1 079 429 people have been asked to donate.

167 182 people - 168 182.

The revenue from the leases will be derived from lease revenues.

15 o'clock y a.m.

5 922 people are 5 yen.

1 634 people have been named.

253

Revenue from the service comes from service revenues.

57.

224 acre of land.

- nebst/seln f/g klu ot tyr s.

- / a c.

Mining income.

- .

-!

655

101

Other revenues are included in a total of three dollars, based on revenue

35

66 feb.

43

7

Total net revenues net income total net revenue total total

178.126 o'clock 187.

402 774

1 081 761 people.

167 543 people are a 53rd-year-old woman.

Revenue in a year incurred.

(134 849): (133,849): (344) - (117,862): (308):34-84.

(208 556) (58,556).

654,631) (654 (634, 663)).

(101 389): (103 389):

Gross profit - profit net profit brut.

43.277,276 yen.

194 218.

427,130 people.

66.154,154.

Operating expenses: - incurred from the beginning of the operation.

Research and development expenses are the cost of research and research.

(26,073): (25,973).

(58,161) (59,611) (5,631)

(63.975) (reports 63,976).

(9,908)) (9.907)

Sales and marketing expenses are incurred ( sales and sales expenses)

6 520 $)

(6,298)), 6:29.

25 774 o'clock (25 771 vs.

3.992) (3,992)

General and administrative expenses, expenses expenses and expenses costs expenses a general and administrative costs, affaff, costs costs and administration expenses all expenses expenditure and taxes expenditure expenses (aff expenses)

(29 587) (eight, 587)

(143 426) (142.426).

(171,892)) (171): 892).

(26,623): (24,613)

Total expenses for operation expenses total expenses (sales of operation) total expenditures total expense expenses.

(62,180)

207 885-8725 (207 885)

(261 641) (262).

(40,523) (44,423);

Income from operations (Loss) and operations expenses (locations), costs/performances (loase)/products from operation operations.

18 903) (18,903).

(13 667): (133,667):

165 489 people 488.

25 631 people.

Interest income is a 2% of the value income.

873

430 people.

1 977 people.

306

Change in just value of warrant liability based on a value change.

- '-

- !,. /': )? ; _ --- ...

77,676 people have been in the country since 1997.

12 030

Investment income is generated from investment income.

1 923 people have been arrested.

184 people 187.

93,931, 1332, 96, 94, and 83.

14

The interest expense incurred in the exchange of interest is due in a period of two years.

(1,519))

(231)

(15)

(2)

Foreign exchange gains/losses, net profit, nette gains, or losses, profits, and losses.

80

13 008

(556)

(86)

Other income, net income.

831

1 489 people have already already signed up for this program.

636

99

Income tax expenses (Loss)/income taxes (tax expenses) (looster) tax and tax taxes expenses.

16 715) (16 775)

1 213 people are currently attending.

245,300 is 245,300 are 300.

37,992 people were also occupied by 39,922 women.

Income tax expense incurred for income tax expenses.

(72)

(9)

(337)

(52)

Nette (loss)/income (nette) (ownership) on average (per share) of profits/ins.

16 787).

1 204

244 963 o'clock.

37.940 people.

Foreign currency translation adjustment, net of nil tax, translation adjustments.

(81)

2 357 oz.

10 (241)) (10,241).

1 586), first time since the first hour of the year.

Total total total income (loss)/losses totals, total loss total sums totales and total losses total excluding liabilities/incomes.

(16,868)) (16.866))

3,561

234, 722 are 234.722 are there.

36 354 people sat in 336 334.

Weighted average number of shares used in each share calculation:

Basic Basic Basics - Basic.

2.350.123.270.

2 349 277 761 x 771 m3 2 370 2 449 379 278 741 yen.

2 523,225,188 (2 553,260,1892).

Two 2 523 225 188 were used to occupy two-fifty-two fivety two thousand two two feces and three hundred two fifty two five tices.

Diluted Didiluted.

2 350 123 270 are 2350.123.270.

2 443,489 527, 427 sq.

2 621 690 830 people are 26221,690 630.

2 621 690 830 people are 262 21 631 6900 890.

The average % of the pound is 0.5%.

Basic Basic basic Basic.

(0,71)

05,05 o'clock.

9.71

1 50

Diluted Didiluted - Dilutinated / Diliqued.

(0,71)

0,05:05

9.34

1,45

Share-based compensation expenses, based on share-expense.

There were included in:

Cost of revenues

- .

177.

849

131 people have joined the tycoon.

Research and development expenses are under observation.

132.

24 069 o'clock

23.660

3 666

Sales and marketing expenses include sales and sales expenses.

11

2 980 people are two-thirty-980.

1 803 people.

279

General and administrative expenses and expenses expenses, expenses expenditure, costs expenses incurred and costs expenditure (tax expenses)

600

114 760 yen (114.760)

126,493, 493 people.

19 19 591

The table below shows a reconciliation of net (loss)/income between net ($los) and net (+lost) income for the period indicated.

Three Months for the period of three months ended.

June 30 June 2020

21 March 31, 2021

30 June 2021

June 30 June 2021

RMB

RMB

RMB

US$

Net (loss)/income (income) net (insert) / economy net ($9) - loss (sevens).

(16,787)), 16 (16.788), 97).

1 204

244 963 people are 2244 663.

37.940 people are said to be 37,944 people.

Share-based compensation expenses expense.

743

141 976 people - 169.976 people.

152 805 people, 805 are the average of these.

23 665

Change in the fair value of warrant liability, a change in warrant value or re-value of the warrant.

- ------!

-.!

(77,676) (76,77)

(12,030))

A net (loss)/income (non-GAAP) net/insert (persiv) / income (ass (suppose)) non-GAP adjusted net income/

16 044 (16) o'clock (16 06:00)

143.180.

320 092 people a year - 365,092 are there.

49,575 people, 49 575.

SOURCE Canaan Inc.

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