On September 8th, news,Jianan TechnologyIt was announced today that a stock repurchase plan was announced with the approval and authorization of the board of directors. Starting September 22, 2020, the company plans to repurchase shares worth $10 million over the next 12 months.

Kanan said, “The announcement of the stock repurchase plan authorized by the board of directors reflects the firm confidence of management and the board of directors in the company's own development.”

According to the latest financial report released by Jianan Technology, Canan Technology's total net revenue for the second quarter reached 178.1 million yuan, down 25.6% from 240 million yuan in the same period last year, and up 160.9% from 67.03 million yuan in the previous quarter; net loss was 16.79 million yuan, net loss for the previous quarter was 39.95 million yuan, and net loss for the same period last year was 260 million yuan.

As of June 30, 2020, Jianan Technology held $157 million in cash and cash equivalents, compared to $517 million on December 31, 2019.