Jia Nan Technology announced the extension of its $30 million stock repurchase plan

According to PR Newswire, mining equipment manufacturer Canaan Inc. announced the extension of its $30 million stock repurchase plan, prolonging the previous share repurchase authorization to enhance shareholder returns and capital operation flexibility.

The company may repurchase $30 million of its issued American Depositary Shares (ADS) over the next 12 months, with each ADS representing 15 shares of Class A common stock. Canaan Inc. had previously launched a stock repurchase plan, but it has now expired, totaling the repurchase of 6,586,413 American Depositary Shares (ADS) for approximately $4.9 million.