Cheng Jin 4

What Happened
Cheng Jin, Chief Financial Officer of Canaan Inc. (CAN), reported a purchase of 65,000 American Depositary Shares (ADSs) on 2026-06-15 at $0.35 per ADS, for a total cash outlay of $22,750. The filing classifies this as a purchase (P) of a derivative security (ADS).

Key Details

• Transaction date: 2026-06-15; filing date: 2026-06-17 (filed within typical Form 4 timing).
• Price: $0.35 per ADS; total value: $22,750.
• Quantity: 65,000 ADSs acquired. Each ADS is convertible at the holder’s election into 15 Class A ordinary shares (see footnote). That equals potential economic exposure to 975,000 underlying Class A shares (65,000 × 15).
• Transaction type reported as an open-market or private purchase (P) of a derivative security.
• Shares owned after the transaction: not specified in the provided filing details.
• Notable footnote: ADSs are convertible into 15 Class A ordinary shares and have no expiration date.

Context
This was a straight purchase of ADSs (a derivative form of the company’s ordinary shares). Purchases by insiders are often watched by investors as a sign of conviction, but filings are factual records and do not disclose motivations.