[Canaan Inc. Announces $30 Million Share Repurchase Program Extension to 12 Months] According to PR Newswire, Canaan Inc. (NASDAQ: CAN, 嘉楠科技) has been authorized by its board of directors to repurchase up to $30 million worth of ADS or Class A ordinary shares over the next 12 months, using existing cash reserves. The company stated that the repurchase will be conducted through open market transactions, private negotiations, or block trades, in compliance with the Securities Exchange Act of 1934 and internal trading policies. The pace of the repurchase will depend on price, trading volume, and market conditions. The previous six-month repurchase program, which began on May 27, has expired, with a total of 6.5864 million ADS repurchased for approximately $4.9 million, including 1.5053 million ADS repurchased for about $1.5 million between November 19–27. The company may adjust the scale and terms of the program as needed.