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Canaan Announces Appointment Of Chief Financial Officer

Canaan Inc. (CAN) , a leading high-performance computing solutions provider, announced the appointment of Mr. James Jin Cheng to the position of Chief Financial Officer, effective immediately. Mr. Tong He will cease to serve as the Company’s acting Chief Financial Officer but will maintain his position as the Company’s Director of Finance.

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Mr. Cheng has more than 20 years of experience in financial planning and management. Prior to joining Canaan, Mr. Cheng served as a Vice President for Zhaopin.com, a career platform in China formerly listed on the NYSE, from September 2015 to July 2021. Between September 2013 to September 2015, Mr. Cheng worked as the Director of Finance for Lenovo’s China and Asia Pacific Division. From February 2005 to August 2013, Mr. Cheng held several managerial roles at Nokia China, such as senior sales finance controller. From March 2003 to January 2005, Mr. Cheng worked as a demand planning manager at Effem Foods Beijing, a Mars company. Mr. Cheng obtained his bachelor’s degree in accounting from Shanghai Jiao Tong University in 2000, his MBA degree from the BiMBA program at Peking University in 2014, and his Master of Science in Global Finance degree from Fordham University in New York in 2014. Mr. Cheng has been a fellow member of the Chartered Institute of Management Accountants (CIMA) since 2016 and a fellow member of the Institute of Public Accountants (IPA) since 2019.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “On behalf of the Company and the board, I would like to extend a warm welcome to James. His extensive experience and integrated expertise in finance and capital markets, as well as his in-depth insights into the electronics industry, will add great value to the Company. We look forward to working with James as we launch into our new growth cycle. We would also like to express our thanks to Mr. Tong He for his dedication and hard work as interim CFO, and we believe that he will continue to make meaningful contributions to the Company going forward.”

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