TechFlow, December 17 — According to prnewswire, Canaan Inc., a mining equipment manufacturer, announced the renewal of its $30 million stock repurchase program, extending its previous share buyback authorization to enhance shareholder returns and capital flexibility. The company may repurchase up to $30 million of its issued American Depositary Shares (ADS) over the next 12 months, with each ADS representing 15 Class A ordinary shares. Canaan previously launched a stock repurchase program that has now expired, under which it repurchased a total of 6,586,413 ADSs, amounting to approximately $4.9 million.
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