Canaan (NASDAQ: CAN) CEO reports extensive Class A, ADS and Class B holdings

Rhea-AI Filing Summary

Canaan Inc. filed an initial Form 3 showing CEO Zhang Nangeng’s ownership in the company. The filing reports direct holdings of 370,884,600 Class A ordinary shares and American Depositary Shares representing 34,524,525 underlying Class A ordinary shares. It also reports indirect ownership of 311,624,444 Class B ordinary shares held through Flueqel Ltd., which is indirectly wholly owned by a trust benefiting Zhang and is convertible into Class A ordinary shares at any time.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Zhang Nangeng

(Last) (First) (Middle)

28 AYER RAJAH CRESCENT #06-08

(Street)

S139959

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Canaan Inc. [ CAN ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	370,884,600	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
American Depositary Shares	(1)	(1)	Class A ordinary shares	34,524,525	(1)	D
Class B ordinary shares	(2)	(2)	Class A ordinary shares	311,624,444	(2)	I	By Flueqel Ltd.(3)

Explanation of Responses:

1. Each American Depositary Share is convertible at any time, at the holder's election, into 15 Class A ordinary shares of the issuer. The American Depositary Shares have no expiration date.

2. Each Class B ordinary share is convertible into one Class A ordinary share of the issuer at any time, at the holder's election, and has no expiration date.

3. Flueqel Ltd. is a company incorporated under the laws of the British Virgin Islands, which is indirectly wholly owned by a trust of which the reporting person is the beneficiary.

	/s/ Nangeng Zhang	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Canaan (CAN) CEO Zhang Nangeng report on this Form 3?

The Form 3 reports Zhang Nangeng’s existing ownership in Canaan. It shows direct Class A ordinary shares, American Depositary Shares linked to Class A shares, and indirect Class B ordinary shares held through Flueqel Ltd., reflecting his overall equity stake structure.

How many Class A ordinary shares does the Canaan (CAN) CEO hold directly?

Zhang Nangeng is reported as directly holding 370,884,600 Class A ordinary shares. This figure represents his direct equity position in Canaan and is separate from any additional exposure through American Depositary Shares or indirectly held Class B ordinary shares.

What American Depositary Share holdings are disclosed for Canaan (CAN) CEO Zhang Nangeng?

The filing shows American Depositary Shares representing 34,524,525 underlying Class A ordinary shares held directly. Each American Depositary Share is convertible into 15 Class A ordinary shares and has no expiration date, providing a separate form of exposure to Canaan’s Class A equity.

What indirect Canaan (CAN) holdings does Flueqel Ltd. represent for the CEO?

Flueqel Ltd. holds 311,624,444 Class B ordinary shares, reported as indirectly owned by Zhang Nangeng. Flueqel Ltd. is indirectly wholly owned by a trust benefiting him, and each Class B share is convertible into one Class A ordinary share at any time without expiration.

Are Canaan (CAN) Class B shares held by the CEO convertible into Class A shares?

Yes. Each Class B ordinary share reported as indirectly owned through Flueqel Ltd. is convertible into one Class A ordinary share at any time. The filing notes these Class B shares have no expiration date, providing ongoing optionality to switch into Class A shares.

Does this Canaan (CAN) Form 3 indicate any insider buying or selling activity?

The Form 3 functions as an initial ownership report rather than a trade notice. It lists Zhang Nangeng’s direct and indirect holdings and related conversion rights, but does not record open-market purchases or sales in this disclosure snapshot.