The Zhitong Finance App learned that today (September 8), Canan Technology (CAN.US) announced that its board of directors has approved a stock repurchase plan. According to this plan, the company will repurchase American Depositary Shares (ADS) and/or Class A common shares worth up to $10 million within the next 12 months starting September 22, 2020. Among them, each ADS represents 15 Class A common stock.

Jianan Technology's current stock repurchase plan reflects the company's confidence in its long-term business prospects and the company's growth potential. This will send positive information to the market, which is conducive to stabilizing the company's stock price, thus ultimately benefiting the company.