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Wu said it has learned that Canaan Inc. announced that its ADS has been approved to transfer from the Nasdaq Global Market to the Nasdaq Capital Market, effective at the market open on July 1. The stock ticker CAN remains unchanged. Canaan previously received a Nasdaq non-compliance notice because its ADS closing bid price was below $1 for 30 consecutive trading days. The first 180-day cure period will expire on July 13. The company applied for an additional 180-day compliance period on July 6.