Canaan Inc. ver: 2

Q1 2021 Earnings Conference Call

6/1/2021

spk_1: Ladies and gentlemen, Thank you for standing by and welcome to the canal. In first quarter of 2021 earnings conference calls at this time. All participants are in a listen only mode. After the Speaker's presentation. After the management prepared remarks, we will have a question and answer session. Please note that this event is being recorded now I'd like to have the conference of what real speaker holes today. Mr Xiao kelly, both secretary of the company. Please go ahead. Mr lee,
spk_0: but thank you very much. Hello everyone and welcome to our earnings conference call. The company's financial and operating results were released by our news to our services earlier today and are currently available online, joining us today, our chairman and the Ceo Mr nam jin jiang and our CFO Mr Honker, Mr Massa Matthew Lee from I C. E. R. Our I. R. Consultant firms will conduct the english translation throughout the court. In addition, Mr Zhao ming lu, Our S V. P. Were also available during the question and answer session. Mr Zhang will start the call by providing an overview of the company and the performance highlights for the quarter. Mr Her will then provide the details on the company's operating and financial results for the period before we opened the call up for your question. Before we continue, I would like to refer you to our safe harbor segments in our earnings press release which are also applied to this core as we will be making forward looking statements. Please also note that we will discuss non gap barriers today which are more corruptly explained at the reconciled to the most comparable measures reported under generally accepted accounting principles. In our earnings release and the filings with the sec with that, I will now turn the call over to our chairman and the Ceo. Mr Zhang. Please go ahead. Yeah. Uh you will come back down to the NNPC direction. So everyone this is drawn chairman Yeo, Kennedy Will now provide a brief overview of our program. In the first quarter of 2021. It could be the transaction, go through that and job food and generally yeah alcohol drugs go to the dance. You do want to change by government and non profit leaders. Dollar changed by one year. Shanghai, Arlene, Arlene and Cheney and bisexual. One million official your shop during the quarter with significantly improved our financial performance as a result of the Bitcoin price rally, increasing customer demand and a substantial ramp up of our manual production and deliveries. As such, we reported the total net revenues of 61.5 million U. S. Dollars and a non cap adjusted net income of $21.9 million 2020. So the thing about racism they're hunting down so she can come back later from the garden. There are seven drops but of course the electric woman for us. High change for us. Uh a very sharp but you are the here in china with the mass production of the new generation of mining machines. Our product that you're continuing to improve through the close collaboration with our partners. We have further enhanced our chief manufacturing process as of today that advances have led to industry leading performances in our chief speed and you in the second quarter today. In addition to our delivery of mining machines, we have also secured a number of large purchase orders of future contract. Furthermore, we have loved in the capacities of our foundry partners for the next 12 months to fulfill these future contracts, Sudan, it's okay to do the right thing to do for the community RTD PT to tell you that you're eating.
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