Cango Inc. operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions, including car sourcing, logistics, and warehousing support for dealers, as well as software as a service solutions; and facilitation of car purchases for car buyers. It also facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; and after-market services to car buyers, which includes facilitating the sale of insurance policies from insurance brokers or companies. The company was founded in 2010 and is headquartered in Shanghai, the People's Republic of China.
IPO Year: 2018
Exchange: NYSE
Website: cangoonline.com
6-K - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
20-F - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
SCHEDULE 13G/A - Cango Inc. (0001725123) (Subject)
SCHEDULE 13G/A - Cango Inc. (0001725123) (Subject)
6-K - Cango Inc. (0001725123) (Filer)
SHANGHAI, April 7, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a rapidly expanding leader in Bitcoin mining, announced its production update for its crypto mining business for March 2025, highlighting significant growth in Bitcoin production. In March 2025, Cango produced a total of 530.1 Bitcoins, representing a 12% increase compared to 472.7 Bitcoins produced in February 2025. The average number of Bitcoins produced per day also rose to 17.1, up from 16.9 in the previous month. As of the end of March, Cango holds a total of 2,474.8 Bitcoins, an increase from 1,944.7 Bitcoins at the end of February. The Company's deployed hashrate remained stable at 32 EH/s, whi
SHANGHAI, April 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it has entered into definitive agreements to sell its existing business in the PRC (the "PRC Business") to Ursalpha Digital Limited, a company incorporated under the laws of British Virgin Islands (the "Purchaser"), for a total consideration of approximately US$351.94 million in cash (with initial payment of approximately US$210.64 million on the closing date and the remaining amount to be paid subject to the Company's fulfillment of certain tax filing and payment obligations and in quarterly installments based on reduction in the credit risk exposure, as of February 28, 2025, of th
SHANGHAI, April 1, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced its production update for crypto mining business in March 2025. Bitcoin Mining Update for March 2025 Metrics Mar 2025 1 Feb 2025 1 Number of Bitcoins produced 530.1 472.7 Average number of Bitcoins produced per day 17.1 16.9 Total number of Bitcoins held 2 2,474.8 1,944.7 Total number of Bitcoins sold 2 - - Deployed hashrate 2 32 EH/s 32 EH/s Average operating hashrate 3 30.3 EH/s 29.7 EH/s 1. Unaudited, estimated.2. As of month-end.3. Average over the month. About Cango Inc. Cango Inc. (NYSE:CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining opera
SHANGHAI, March 27, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG), a rapidly expanding leader in Bitcoin mining, today announced key highlights from its filed annual report, marked by a successful pivot towards cryptocurrency mining and significant operational milestones, including securing its position as the third-largest publicly traded miner globally and a 400% year-over-year revenue increase. Fourth Quarter & Full Year 2024 Financial Performance The Company achieved total revenues of RMB668.0 million (US$91.5 million) in Q4 2024, reflecting a 400% year-over-year increase. This growth was primarily driven by the launch of its Bitcoin mining business, which generated RMB653.0 million (US$
SHANGHAI, March 27, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the "SEC") on March 27, 2025, U.S. Eastern Time. The annual report can be accessed on the Company's investor relations website at ir.cangoonline.com or the SEC's website at www.sec.gov. The Company will also provide a hard copy of its annual report containing its audited consolidated financial statements, free of charge, to its shareholders and American Depositary Share holders upon request. About Cango Inc. Cango Inc. (NYSE:CANG) primarily operates a le
SHANGHAI, March 26, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced an extension of the deadline to close its proposed acquisitions of on-rack crypto mining machines with an aggregate hashrate of 18 Exahash per second ("EH") through issuance of Class A ordinary shares of the Company to the sellers (the "Share-Settled Transactions"). The Company announced signing of the On-Rack Sales and Purchase Agreement (the "Purchase Agreement") for the Share-Settled Transactions on November 6, 2024, which contemplated closing of the Share-Settled Transactions by March 31, 2025 (the "Long Stop Date"). The Company announced on March 14, 2025 that it received a prelimi
SHANGHAI, March 18, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading Bitcoin mining company with an automotive transaction service in China, today announced that it has been included in the Bitwise Bitcoin Standard Corporations ETF (NYSE:OWNB), launched by Bitwise Asset Management on March 11, 2025. The exchange-traded fund (ETF) tracks the Bitwise Bitcoin Standard Index, providing investors with exposure to forward-looking publicly traded corporations holding a minimum of 1,000 Bitcoins on their balance sheets. "We are proud to be included in the recently launched Bitwise Bitcoin Standard Corporations ETF. Our inclusion highlights the industry's acknowledge
SHANGHAI, March 17, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading Bitcoin mining company with an automotive transaction service in China, today announced that it has been included in the Bitwise Bitcoin Standard Corporations ETF (NYSE:OWNB), launched by Bitwise Asset Management on March 11, 2025. The exchange-traded fund (ETF) tracks the Bitwise Bitcoin Standard Index, providing investors with exposure to forward-looking publicly traded corporations holding a minimum of 1,000 Bitcoins on their balance sheets. "We are proud to be included in the recently launched Bitwise Bitcoin Standard Corporations ETF. Our inclusion highlights the industry's acknowledge
SHANGHAI, March 14, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that its Board of Directors (the "Board") recently received a preliminary non-binding letter of intent (the "Letter of Intent") from Enduring Wealth Capital Limited, a company established in the British Virgin Islands ("EWCL") expressing its non-binding intent to obtain control of the Company through the following proposed transactions: (i) EWCL proposes to acquire 10,000,000 Class B ordinary shares of the Company from the Company's co-founders, Mr. Xiaojun Zhang and Mr. Jiayuan Lin (collectively, the "Founders") at a purchase price in cash to be agreed among the parties, (ii) the Compa
SHANGHAI, March 13, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading Bitcoin mining company with an automotive transaction service in China, today announced that its board of directors has authorized a new share repurchase program (the "New Share Repurchase Program") under which the Company may repurchase up to US$30 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing two Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from, April 25, 2025. The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiate
SHANGHAI, Nov. 18, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced the appointment of MaloneBailey, LLP ("MaloneBailey") as the Company's independent registered public accounting firm for the year ending December 31, 2024 and on the effectiveness of the Company's internal control over financial reporting as of December 31, 2024, effective on November 18, 2024. MaloneBailey succeeds Ernst & Young Hua Ming LLP ("EY"), which was the independent auditor providing audit services to the Company. The change of the Company's independent auditor was made after careful consideration and was approved by
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SHANGHAI, March 26, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced an extension of the deadline to close its proposed acquisitions of on-rack crypto mining machines with an aggregate hashrate of 18 Exahash per second ("EH") through issuance of Class A ordinary shares of the Company to the sellers (the "Share-Settled Transactions"). The Company announced signing of the On-Rack Sales and Purchase Agreement (the "Purchase Agreement") for the Share-Settled Transactions on November 6, 2024, which contemplated closing of the Share-Settled Transactions by March 31, 2025 (the "Long Stop Date"). The Company announced on March 14, 2025 that it received a prelimi
SHANGHAI, March 6, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading Bitcoin mining company with an automotive transaction service in China, today announced its unaudited financial results for the fourth quarter and full year of 2024. Fourth Quarter 2024 Financial and Operational Highlights Total revenues were RMB668.0 million (US$91.5 million), a substantial increase from RMB130.2 million in the same period of 2023. This surge was primarily attributable to the launch of our Bitcoin mining business in November 2024, which generated RMB653.0 million (US$89.5 million) in the quarter.A total of 933.8 Bitcoins were mined during the quarter. The average cost to mi
SHANGHAI, Feb. 28, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it plans to release its fourth quarter and full year 2024 financial results after the market closes on Thursday, March 6, 2025. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com. Cango's management will hold a conference call on Thursday, March 6, 2025 at 8:00 P.M. Eastern Time or Friday, March 7, 2025 at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers: International: +1-412-902-4272 United
SHANGHAI, Dec. 5, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its production update for crypto mining business in November 2024. As previously announced by the Company on November 19, 2024, the Company has completed the acquisition of on-rack crypto mining machines with an aggregate hashrate of 32 Exahash per second ("EH") for a total purchase price of US$256 million in cash (the "Cash-Settled Transaction") from a leading manufacturer of digital currency mining servers. The Company and such manufacturer closed the Cash-Settled Transaction through assignment to the Company of all hash comp
SHANGHAI, Nov. 4, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the third quarter of 2024. Third Quarter 2024 Financial and Operational Highlights Total revenues were RMB27.0 million (US$3.8 million), compared with RMB353.6 million in the same period of 2023. Income from operations was RMB35.2 million (US$5.0 million) for the three months ended September 30, 2024, compared with a loss of RMB87.8 million in the same period last year. Net income was RMB67.9 million (US$9.7 million) for the three months ended September 30, 2024, compared with a loss of RMB49
SHANGHAI, Oct. 31, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it plans to release its third quarter 2024 financial results after the market closes on Monday, November 4, 2024. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/. Cango's management will hold a conference call on Monday, November 4, 2024 at 8:00 P.M. Eastern Time or Tuesday, November 5, 2024 at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers: International: +1-412-902-4272 United States
SHANGHAI, Aug. 29, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the second quarter of 2024. Second Quarter 2024 Financial and Operational Highlights Total revenues were RMB45.1 million (US$6.2 million), compared with RMB675.4 million in the same period of 2023. Income from operations was RMB47.0 million (US$6.5 million) for the three months ended June 30, 2024, compared with a loss of RMB8.9 million in the same period last year. Net income was RMB86.0 million (US$11.8 million) for the three months ended June 30, 2024, an increase of 137.5% from RMB36.2 m
SHANGHAI, Aug. 23, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it plans to release its second quarter 2024 financial results after the market closes on Thursday, August 29, 2024. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/. Cango's management will hold a conference call on Thursday, August 29, 2024 at 9:00 P.M. Eastern Time or Friday, August 30, 2024 at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers: International: +1-412-902-4272 United States
SHANGHAI, June 12, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the first quarter of 2024. First Quarter 2024 Financial and Operational Highlights Total revenues were RMB64.4 million (US$8.9 million), compared with RMB542.6 million in the same period of 2023. Income from operations was RMB74.2 million (US$10.3 million) for the three months ended March 31, 2024, an increase of 43.1% from RMB51.8 million in the same period last year. Net income was RMB90.0 million (US$12.5 million) for the three months ended March 31, 2024, an increase of 14.3% from RMB78.
SHANGHAI, June 7, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it plans to release its first quarter 2024 financial results after the market closes on Wednesday, June 12, 2024. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/. Cango's management will hold a conference call on Wednesday, June 12, 2024 at 9:00 P.M. Eastern Time or Thursday, June 13, 2024 at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers: International: +1-412-902-4272 United States Tol