Benzinga | Feb 9, 2021 09:10AM EST

Canaan's Finance Chief Resigns, Tong He Becomes Acting CFO

* Canaan Inc. (NASDAQ: CAN) CFO Quanfu Hong has resigned for personal reasons effective February 9, 2021. Director of Finance, Tong He became the acting CFO.

* Canaan's net revenue declined 75.7% year-over-year to $24.0 million in the third quarter of FY20 due to a fall in computing power sales volume and average selling price. The loss per share stood at $0.08.

* Price action: CAN shares are up 9.63% at $7.74 in the pre-market session on the last check Tuesday.