HANGZHOU, China, Aug. 04, 2020 (GLOBE NEWSWIRE) — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that the terms of office of three of its independent directors, namely Mr. Hong Zhang, Mr. Xiaohu Yang, and Ms. Mei Luo, expired on August 1, 2020. All the departing independent directors will not seek appointments nor stand for elections to the board of directors of the Company (the “Board”) following the expiration of their respective terms of office.
The nomination committee of the Board has confirmed the addition of Mr. Hongchao Du, Mr. Zhitang Shu, Mr. Wenjun Zhang and Ms. Yaping Zhang as independent directors to the Board, effective August 1, 2020.
The nomination committee of the Board has examined the qualifications of the independent director candidates. The newly appointed independent directors retain various experiences in the fields of Blockchain and Internet technologies, law, enterprise management, and financial management, which will provide extensive support to the future advancement of the Company.
The following are the personal profiles of the four newly appointed independent directors, listed in alphabetical order by surname.
Mr. Hongchao Du, President of CNET-IOBC, is an expert and initiator in Internet+ of ISC. Mr. Du has 27 years of experience in the field of information technology. Mr. Du developed multiple English to Chinese translation software solutions, the learning software “E&C”, and a real-time on-screen translating software “instant translator”. He developed the first overseas Internet-based instant communication platform, “2antong”, and founded China’s largest IT community, DoNews.com. These platforms and tools are widely used by both domestic and oversea clients. Mr. Du was the general manager of www.jiangmin.com, which specializes in anti-virus software development. Mr. Du has also served as an Internet and new media consultant to the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), which is a special commission of the People’s Republic of China. Mr. Du also developed a universal game card and its associated replication system. Mr. Du won the Gold Award at the National University Science and Technology Exposition.
Mr. Zhitang Shu is the Founding Partner and a board member of Merits & Tree Law Offices. Mr. Shu was previously a practicing lawyer and Partner of Commerce & Finance Law Offices. Before that, Mr. Shu worked at the Xiangfan Science and Technology Commission, Ping An Insurance, Taikang Life Insurance, and Beijing Aerospace Pulin Technology. Mr. Shu has over 13 years of experience as a lawyer and over 14 years of experience in enterprise management.
With over 20 years of experience in enterprise management, Mr. Wenjun Zhang has extensive experience in managing multi-function units and driving cross-department synergies. Mr. Zhang is the general manager of…