Canaan Technology's controlling shareholder has completed the reduction of holdings, and the board's reduction plan has been terminated early

Recently, Zhejiang Canaan Technology Co., Ltd. announced that the share reduction plan of its controlling shareholder, Canaan Technology Group Co., Ltd., has been completed. Mr. Huang Binbin, a director, decided to terminate the reduction plan early and did not implement any reductions. During the relevant period in 2025, Canaan Group reduced its holdings by a total of 14.9325 million shares through centralized bidding and block trading, accounting for 3.00% of the total share capital, with the shareholding ratio decreasing from 15.2069% to 12.2069%. This change in equity does not trigger a mandatory takeover offer, will not lead to changes in the company's controlling shareholder or actual controller, and will not have a significant impact on the company's governance and operations. The reduction complies with relevant laws, regulations, and normative documents