Abdullah Dilawar's questions to Canaan (CAN) leadership • Q2 2025
Question
Abdullah Dilawar from Compass Point Research & Trading asked if there have been any changes in customer ASIC demand since May and whether market sentiment has rebounded to Q1 levels.
Answer
CEO Nangeng Zhang confirmed positive demand changes since July, with North American institutional customers adapting to the new tariff environment. He highlighted that strong demand in Asia and other regions offset U.S. weakness in Q2. While U.S. demand has not fully recovered to pre-tariff levels, Zhang stated that the new U.S. manufacturing facility is a key initiative to lower costs and improve supply, which should help normalize the market.