Canaan CFO Resigns Citing ‘Personal Reasons’

Publicly traded mining machine manufacturer Canaan Inc. (CAN) announced the resignation of its CFO Quanfu Hong and named Tong He as acting CFO.

• Hong’s resignation was due to “personal reasons,” the Beijing-based company said.
• Now-acting CFO He has served as the company’s director of finance since July 2020.
• A date for the Nasdaq-listed company’s earnings has not been set yet.
• Shares of Canaan have gained 8% so far in 2021, currently trading around $7.25. Bitcoin rose over 50% in the same period.