Canaan Technology announced it has received a Nasdaq notice of non-compliance with Listing Rule 5550(a)(2) after its American Depositary Shares traded below $1 for 30 consecutive business days. Nasdaq has given the company 180 calendar days to regain compliance, requiring its ADS closing price to reach or exceed $1 for at least 10 consecutive trading sessions. Failure to do so may result in delisting from the Nasdaq Stock Market.