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Canaan Creative

Singapore-based computer manufacturer

Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a Singapore-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$529.7MRevenue, fiscal 20254
-$210.3MNet income, fiscal 20254
2013Founded1

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  • TickerCAN on Nasdaq1
  • Industrycomputer hardware industry, consumer electronics industry1
  • HeadquartersSingapore1
  • Websitecanaan.io
  • Incorporated inCayman Islands5
  • Business address28 Ayer Rajah Crescent, #06-08, Singapore, U0 1399595
  • Filer categoryAccelerated filer5

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Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a Singapore-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

7.8%Gross margin4
-21.2%Operating margin4
-39.7%Net margin4
96.7%Revenue growth, 20254
-48.1%Return on equity4
0.05×Debt to equity4
-$295.8MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue88¢$488.6M
  • Research and development11¢$63.1M
  • Income tax1¢$2.8M

Out of $529.7M in revenue.4 The company lost money this year.

Financial statements

Revenue789104$529.7M in 2025+159% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $204.3M$204.3M20192020: $68.6M$68.6M2020−66%2021: $772.8M$772.8M2021+1026%2022: $651.5M$651.5M2022−16%2023: $211.5M$211.5M2023−68%2024: $269.3M$269.3M2024+27%2025: $529.7M$529.7M2025+97%
Gross profit789104$41.2M in 2025
-$400.0M-$200.0M0$200.0M$400.0M$600.0M2019: -$74.1M-$74.1M20192020: $5.8M$5.8M20202021: $441.8M$441.8M2021+7531%2022: $230.3M$230.3M2022−48%2023: -$240.8M-$240.8M20232024: -$84.3M-$84.3M2024−65%2025: $41.2M$41.2M2025
Operating income89104-$112.2M in 2025+188% since 2020
-$600.0M-$400.0M-$200.0M0$200.0M$400.0M2020: -$38.9M-$38.9M20202021: $283.0M$283.0M20212022: $42.9M$42.9M2022−85%2023: -$410.9M-$410.9M20232024: -$227.1M-$227.1M2024−45%2025: -$112.2M-$112.2M2025−51%
Net income789104-$210.3M in 2025+42% since 2019
-$600.0M-$400.0M-$200.0M0$200.0M$400.0M2019: -$148.6M-$148.6M20192020: -$33.0M-$33.0M2020−78%2021: $309.1M$309.1M20212022: $69.9M$69.9M2022−77%2023: -$414.2M-$414.2M20232024: -$249.8M-$249.8M2024−40%2025: -$210.3M-$210.3M2025−16%
Fiscal year20182019202020212022202320242025
Revenue$204.3M7$68.6M8$772.8M9$651.5M10$211.5M4$269.3M4$529.7M4
Cost of revenue$278.5M7$62.8M8$331.0M9$421.2M10$452.3M4$353.6M4$488.6M4
Gross profit-$74.1M7$5.8M8$441.8M9$230.3M10-$240.8M4-$84.3M4$41.2M4
Research and development$24.3M7$21.5M8$52.2M9$81.8M10$64.8M4$61.3M4$63.1M4
Operating expenses$158.8M9$187.3M10$170.1M4$142.8M4$153.4M4
Operating income-$38.9M8$283.0M9$42.9M10-$410.9M4-$227.1M4-$112.2M4
Interest$2.9M7$550.0K8
Income before tax$316.9M9$88.3M10-$465.5M4-$172.3M4-$207.5M4
Income tax$08$7.8M9$18.4M10-$51.3M4$77.5M4$2.8M4
Net income-$148.6M7-$33.0M8$309.1M9$69.9M10-$414.2M4-$249.8M4-$210.3M4
Earnings per share-$6.907-$1.418$12.269$2.7310-$16.064-$6.134-$2.994
Earnings per share (diluted)-$6.907-$1.418$12.009$2.7110-$16.064-$6.134-$2.994
Shares (weighted, basic)2.5B shares92.6B shares102.6B shares44.1B shares47.0B shares4
Shares (weighted, diluted)2.6B shares92.6B shares102.6B shares44.1B shares47.0B shares4

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Corporate structure

Canaan Creative sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Canaan Creative

  • Invesco Filed SCHEDULE 13G/A on Canaan Creative, latest Aug 13, 2026 (2 filings since Jun 5, 2026)
  • Weiss Asset Management LP Filed SCHEDULE 13G/A on Canaan Creative, latest Aug 11, 2026 (2 filings since Feb 11, 2026)
  • Cipher Digital Inc. Filed SCHEDULE 13G on Canaan Creative, latest Feb 25, 2026
  • Nangeng Zhang Filed SCHEDULE 13G/A on Canaan Creative, latest Feb 13, 2026 (5 filings since Feb 14, 2022)
  • Streeterville Capital LLC Filed SCHEDULE 13G/A on Canaan Creative, latest Dec 12, 2025 (4 filings since Dec 20, 2023)
  • HK Jiaji Science & Technology Ltd Filed SC 13G/A on Canaan Creative, latest Feb 14, 2022
  • Jiaxuan Li Filed SC 13G/A on Canaan Creative, latest Feb 8, 2022
  • Canaan Creative Singapore

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Canaan Creative reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$154.8M4 Dec 31, 2025$112.1M4 Dec 31, 2024+38.1%
Accumulated depreciation$110.8M4 Dec 31, 2025$71.9M4 Dec 31, 2024+54.0%
Property and equipment, net$44.0M4 Dec 31, 2025$40.2M4 Dec 31, 2024+9.6%
Operating-lease assets (leased space)$2.9M4 Dec 31, 2025$3.5M4 Dec 31, 2024−17.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$80.8M4 Dec 31, 2025$96.5M4 Dec 31, 2024−16.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, net$689.0K4 Dec 31, 2025$901.0K4 Dec 31, 2024−23.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$180.8M4 Dec 31, 2025$94.6M4 Dec 31, 2024+91.1%
Raw materials$99.8M4 Dec 31, 2025$56.5M4 Dec 31, 2024+76.5%
Work in process$23.5M4 Dec 31, 2025$5.6M4 Dec 31, 2024+323.0%
Finished goods$57.5M4 Dec 31, 2025$32.5M4 Dec 31, 2024+76.8%

The story

In 2013, while still studying for a doctor's degree, N.G. Zhang established Canaan Creative in China, where he was chairman and CEO.

In 2016, Canaan attempted a reverse takeover for $466 Millions USD by Shandong Luyitong, a public company listed on the Shenzhen Stock Exchange.

In January 2019, reports surfaced that Canaan was considering an IPO in the United States. Canaan raised $90 million in their November 2019 IPO on the Nasdaq Global Market.

In 2022, Canaan's headquarters in Singapore were established.

From Wikipedia’s article on Canaan Creative, shared under CC BY-SA 4.0.6

Leadership

Who has led Canaan Creative, and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Jin Cheng2026–now
201520202025
Board members and other officers (3)

Products and brands

  • computer hardware
  • networking hardware

Listed on Wikidata.1

Timeline

  1. 2019Went public Listed on NASDAQ1
  2. 2013Founded Founded1

Calendar

Coming up

  1. Nov 17, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.05) a share, on Nov 18, 2025.17

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

192 filings to the SEC since October 2021: 7 annual reports, 9 insider forms, 16 large holders, 160 other. The latest 20:

  1. Oct 15, 20266-K EDGAR
  2. Sep 14, 20266-K EDGAR
  3. Sep 11, 20266-K EDGAR
  4. Sep 8, 20266-K EDGAR
  5. Aug 17, 20266-K EDGAR
  6. Aug 13, 2026SCHEDULE 13G/A EDGAR
  7. Aug 11, 2026SCHEDULE 13G/A EDGAR
  8. Aug 4, 20266-K EDGAR
  9. Jul 15, 20266-K EDGAR
  10. Jul 14, 20266-K EDGAR
  11. Jul 6, 20266-K EDGAR
  12. Jun 24, 20266-K EDGAR
  13. Jun 22, 20264 EDGAR
  14. Jun 17, 2026EFFECT EDGAR
  15. Jun 17, 20264 EDGAR
  16. Jun 17, 20264 EDGAR
  17. Jun 16, 2026POS AM EDGAR
  18. Jun 15, 2026POS AM EDGAR
  19. Jun 11, 20266-K EDGAR
  20. Jun 5, 2026SCHEDULE 13G EDGAR

The 192 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 75. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Invesco Ltd.40,400,450$11.6M0.0%+11,839,448
Weiss Asset Management LP38,900,282$11.2M0.2%−971,102
Geode Capital Management, LLC4,545,434$6.1M0.0%−51,121
Galaxy Digital Inc.11,700,000$3.4M0.5%−2,800,000
Charles Schwab Investment Management Inc7,512,078$2.2M0.0%−4,239,249
Compass Rose Asset Management, LP4,769,310$1.4M0.7%New
UBS Group AG4,187,157$1.2M0.0%−153,247
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.3,994,329$1.1M0.0%−103,410
Jane Street Group, LLC3,904,013$1.1M0.0%+3,690,422
Vident Advisory, LLC3,649,969$1.1M0.0%+509,364
Marshall Wace, Llp1,998,404$579.5K0.0%+1,351,878
OVERSEA-CHINESE BANKING Corp Ltd2,008,009$576.5K0.0%No change
Susquehanna International Group, Llp1,856,195$532.9K0.0%+1,042,703
Renaissance Technologies LLC1,493,879$428.9K0.0%−3,040,872
SBI Securities Co., Ltd.1,477,005$424.0K0.0%−162,024
BlackRock, Inc.1,354,418$388.9K0.0%−19,165
Bitwise Funds Trust688,064$197.5K0.0%New
Millennium Management LLC662,129$190.1K0.0%New
Morgan Stanley577,203$165.7K0.0%−631,149
Group One Trading LLC573,476$164.6K0.0%+282,935
State Street Corp507,340$145.7K0.0%−8,132,587
Ci Investments Inc.463,813$133.2K0.0%New
IMC-Chicago, LLC381,250$109.5K0.0%+15,465
Goldman Sachs Group Inc350,391$100.6K0.0%+108,182
Certuity, LLC325,000$93.3K0.0%+100,000

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Canaan Creative is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCanaan Inc.2
  • CIK0001780652
  • Filer statusAccelerated filer not an emerging growth company; not a shell company25
  • Incorporated inCayman Islands25
  • Fiscal year endsDecember 312
  • Industry code (SIC)6199 Finance Services2
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance2
  • Business address28 Ayer Rajah Crescent, #06-08, Singapore, U0 1399592
  • Phone65 6305 66182
  • Shares outstanding10,431,482,973 Common Class A shares; 311,624,444 Common Class B shares as of Dec 31, 202525
  • AuditorKPMG Huazhen LLP, Beijing, China PCAOB ID 1186; it also attests to the company’s internal control over financial reporting25
  • On EDGAR sinceJul 23, 20192
  • Filings267 in all: 6-K (140), CORRESP (16), UPLOAD (15), SC 13G/A (13), 424B5 (11), SC 13G (8), 20-F (7), 3 (6)2
    All 29 form types

    POS AM (6), SCHEDULE 13G/A (6), EFFECT (4), F-1/A (4), S-8 (4), 4 (3), DRSLTR (3), SCHEDULE 13G (3), 20-F/A (2), DRS/A (2), F-3ASR (2), FWP (2), POSASR (2), 144 (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), F-1 (1), F-3 (1), F-3/A (1)

  • Latest filingsAnnual report (20-F) Apr 15, 2026

Securities registered for trading

ClassSymbolExchange
American Depositary Shares, each representing 15Class A ordinary shareCANNASDAQ
Class A ordinary shares, par value US$0.00000005 per share*NASDAQ

From the cover page of the 20-F filed Apr 15, 2026 (Section 12(b) of the Exchange Act).25

Sources

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