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: 2025
Exchange: NYSE
Website: cangoonline.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/23/2025 | $8.00 | Buy | H.C. Wainwright |
6-K - Cango Inc. (0001725123) (Filer)
25-NSE - Cango Inc. (0001725123) (Subject)
6-K - Cango Inc. (0001725123) (Filer)
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F-6 POS - Cango Inc. (0001725123) (Subject)
6-K - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
SCHEDULE 13G/A - Cango Inc. (0001725123) (Subject)
SCHEDULE 13D/A - Cango Inc. (0001725123) (Subject)
6-K - Cango Inc. (0001725123) (Filer)
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H.C. Wainwright initiated coverage of Cango with a rating of Buy and set a new price target of $8.00
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DALLAS, Dec. 5, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today published its Bitcoin production and mining operations update for November 2025. Bitcoin Mining Production and Mining Operations Update for November 2025 Metric November 2025 [1] October 2025 [1] Number of Bitcoin produced 546.7 602.6 Average number of Bitcoin produced per day 18.22 19.44 Total number of Bitcoin held [2] 6,959.3 6,412.6 Deployed hashrate 50 EH/s 50 EH/s Average operating hashrate [3] 44.38 EH/s 46.09 EH/s Unaudited, estimated.As of month-end.Average over the month.Not
DALLAS, Dec. 2, 2025 /PRNewswire/ -- On December 1, Cango Inc. (NYSE:CANG) ("Cango" or the "Company") announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Financial and Operational Highlights Total revenues were US$224.6 million in the third quarter of 2025, an increase of 60.6% compared with the second quarter of 2025. Revenue from the bitcoin mining business in the third quarter of 2025 was US$220.9 million.Operating income was US$43.5 million and net income was US$37.3 million over the period. Adjusted EBITDA for the t
DALLAS, Dec. 1, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Financial and Operational Highlights Total revenues were US$224.6 million in the third quarter of 2025, an increase of 60.6% compared with the second quarter of 2025. Revenue from the bitcoin mining business in the third quarter of 2025 was US$220.9 million.Operating income was US$43.5 million and net income was US$37.3 million over the period. Adjusted EBITDA for the third quar
DALLAS, Texas, Nov. 25, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it plans to release its third quarter 2025 financial results after the market closes on Monday, December 1, 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 Monday, December 1, 2025, at 8:00 P.M. Eastern Time or Tuesday, December 2, 2025, at 9:00 A.M. Hong Kong Time to discuss the financial results. Listeners may access the call by dialing the f
DALLAS, Nov. 17, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that its Class A ordinary shares will begin trading on Monday, November 17, 2025, on the New York Stock Exchange ("NYSE") after the termination of the Company's American Depositary Receipt ("ADR") program. Holders of the Company's American depositary shares ("ADS") received two Class A ordinary shares for each ADS they held before termination of the ADR program, which had the similar effect of a 2-for-1 share split. NYSE authorized the direct listing of the Class A ordinary shares on November 14, 2025. The direct listing of Class A ordinary shares on NYSE allowed U.S. investors to hold sh
HONG KONG, Nov. 6, 2025 /PRNewswire/ -- Dear Shareholders, November 2025 marks a pivotal milestone in Cango's history: the one-year anniversary of our strategic transformation. Our long-term goal has always been to build energy-secured high-performance computing (HPC) services. What began as an exploration of new energy opportunities early last year led us to a practical on‑ramp: Bitcoin mining as a first step to secure energy access, develop operational expertise, and create site optionality that can later support our energy and HPC goals. While we began as an automotive tran
HONG KONG, Nov. 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today published its Bitcoin production and mining operations update for October 2025. Bitcoin Mining Production and Mining Operations Update for October 2025 Metric October 2025 1 September 2025 1 Number of Bitcoin produced 602.6 616.6 Average number of Bitcoin produced per day 19.44 20.55 Total number of Bitcoin held 2 6412.6 5,810.0 Deployed hashrate 50 EH/s 50 EH/s Average operating hashrate 3 46.09 EH/s 44.85 EH/s 1. Unaudited, estimated. 2. As of month-end. 3. Av
HONG KONG, Oct. 15, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that its board of directors has approved the termination of its American depository receipt ("ADR") program*. The ADR program and the related Deposit Agreement are expected to terminate after market closes on Friday, November 14, 2025. At such time, the Company's ADSs will be mandatorily cancelled and the Class A ordinary shares underlying the ADSs will be distributed to holders of the ADSs. Each holder of one ADS will receive two Class A ordinary shares of the Company. The Company expects its Class A ordinary shares will be listed and commence trading on the New York Stock Exchange ("
HONG KONG, Oct. 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today published its Bitcoin production and mining operations update for September 2025. Bitcoin Mining Production and Mining Operations Update for September 2025 Metric September 2025 1 August 2025 1 Number of Bitcoin produced 616.6 663.7 Average number of Bitcoin produced per day 20.55 21.41 Total number of Bitcoin held 2 5,810.0 5,193.4 Deployed hashrate 50 EH/s 50 EH/s Average operating hashrate 3 44.85 EH/s 43.74 EH/s 1. Unaudited, estimated. 2. As of month-end. 3.
HONG KONG, Sept. 4, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) today announced its unaudited financial results for the second quarter ended June 30, 2025. Financial and Operational Highlights As of June 30, 2025, the company's total mining capacity reached 50 EH/s, primarily driven by the acquisition of 18 EH/s in June 2025. Furthermore, in May, Cango completed the divestiture of its China-based assets for US$352 million, generating substantial liquidity to support ongoing strategic initiatives.Total revenues were US$139.8 million during the period, with the Bitcoin mining business generating revenue of US$138.1 million.Adjusted EBITDA was US$99.1 million during the period.A total of 1,404
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HONG KONG, July 23, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) today announced its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the "Board") and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments. On July 23, 2025, the Board appointed (i) Mr. Xin Jin as Chairman of the Board and Non-Executive Director, (ii) Mr. Peng Yu as CEO and Director, (iii) Mr. Chang-Wei Chiu as Director, (iv) Mr. Yongyi Zhang as CFO and (v) Mr. Simon Ming Yeung Tang as CIO To strengthen governance, t
HONG KONG, July 23, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it has completed its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the "Board") and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments. Pursuant to resolutions adopted on July 23, 2025, the Board appointed (i) Mr. Xin Jin as Chairman of the Board and Non-Executive Director, (ii) Mr. Peng Yu as Chief Executive Officer and Director, (iii) Mr. Chang-Wei Chiu as Direct
HONG KONG, June 10, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a rapidly-expanding leader in Bitcoin mining, today provided an update on its comprehensive strategic transformation, marked by a series of recently completed transactions and finalized agreements that have repositioned the Company as a well-capitalized leader in the global Bitcoin mining sector. Key Transformation Initiatives and Timeline: May 27, 2025: Cango divested all PRC-based operations and announced changes to the board and management, including the appointment of co-founder and
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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DALLAS, Dec. 1, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Financial and Operational Highlights Total revenues were US$224.6 million in the third quarter of 2025, an increase of 60.6% compared with the second quarter of 2025. Revenue from the bitcoin mining business in the third quarter of 2025 was US$220.9 million.Operating income was US$43.5 million and net income was US$37.3 million over the period. Adjusted EBITDA for the third quar
DALLAS, Texas, Nov. 25, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it plans to release its third quarter 2025 financial results after the market closes on Monday, December 1, 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 Monday, December 1, 2025, at 8:00 P.M. Eastern Time or Tuesday, December 2, 2025, at 9:00 A.M. Hong Kong Time to discuss the financial results. Listeners may access the call by dialing the f
HONG KONG, Sept. 4, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced its unaudited financial results for the second quarter ended June 30, 2025. Second Quarter 2025 Financial and Operational Highlights As of June 30, 2025, the company's total mining capacity reached 50 EH/s, primarily driven by the acquisition of 18 EH/s in June 2025. Furthermore, in May, Cango successfully completed the divestiture of its China-based assets for US$352 million, generating substantial cash proceeds and providing ample liquidity to support ongoing strategic
HONG KONG, Sept. 2, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it plans to release its second quarter 2025 financial results after the market closes on Thursday, September 04, 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, September 04, 2025, at 9:00 P.M. Eastern Time or Friday, September 05, 2025, at 9:00 A.M. Hong Kong Time to discuss the financial results. Listeners may access the call by dialing
HONG KONG, Aug. 11, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), today announced the acquisition of a fully operational 50 MW mining facility in Georgia, USA, for a total cash consideration of US$19.5 million – a pivotal step marking the Company's transition into a diverse strategy that manages a robust portfolio of Bitcoin mining and energy infrastructure. This transaction represents Cango's first step to steadily increase its portfolio of owned and operated mining facilities. By selectively acquiring low-cost power operations, Cango aims to enhance
SHANGHAI, May 14, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced its unaudited financial results for the first quarter of 2025. First Quarter 2025 Financial and Operational Highlights Total revenues were RMB1.1 billion (US$145.2 million), a significant increase from RMB64.4 million in the same period of 2024. This surge was primarily attributable to our Bitcoin mining business, which generated revenues of RMB1.0 billion (US$144.2 million) in the quarter.A total of 1,541 Bitcoins were mined during the quarter. The average cost to mine Bitcoin, excluding depreciation of mining machines, was US$70,602.1 per Bitcoin in the quarter.Adjusted EBITDA was RMB2
SHANGHAI, May 9, 2025 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company") today announced that it plans to release its first quarter 2025 financial results after the market closes on Wednesday, May 14, 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 Wednesday, May 14, 2025 at 9:00 P.M. Eastern Time or Thursday, May 15, 2025 at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers
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
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