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
Cango (NYSE:CANG) reported quarterly Adj earnings of $0.12 per ADS. This is a 50 percent increase over earnings of $0.08 per share from the same period last year. The company reported $8.90 million in sales this quarter. This is a 88.74 percent decrease over sales of $79.01 million the same period last year.
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Key Takeaways: Cango has launched a new app, AutoCango, to facilitate the export of used Chinese cars to dealers in developing markets The company’s revenue plunged 73% in last year’s fourth quarter, but it remains relatively well regarded by investors due to its conservative stance in China’s difficult car market By Doug Young If you can’t stand the heat in China’s intensely competitive car market, then you get out of the kitchen. Of course that’s a slight exaggeration, but it’s not too far from the latest approach by Cango Inc.(NYSE:CANG), a former auto financier now trying to become a leading provider of auto trading services in the world’s largest car market. Following a major pi
Cango (NYSE:CANG) reported quarterly losses of $(0.13) per ADS . This is a 77.59 percent increase over losses of $(0.58) from the same period last year. The company reported $18.34 million in sales this quarter. This is a 74.03 percent decrease over sales of $70.63 million the same period last year.
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
SHANGHAI, April 26, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission (the "SEC") on April 26, 2024, 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. Ab
SHANGHAI, April 23, 2024 /PRNewswire/ -- Cango Inc. (NYSE:CANG) ("Cango" or the "Company"), a leading automotive transaction service platform 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$50 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, 2024. The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in bloc
SHANGHAI, March 11, 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 fourth quarter and full year of 2023. Fourth Quarter 2023 Financial and Operational Highlights Total revenues were RMB130.2 million (US$18.3 million), compared with RMB487.1 million in the same period of 2022. The total outstanding balance of financing transactions the Company facilitated was RMB10.0 billion (US$1.4 billion) as of December 31, 2023. M1+ and M3+ overdue ratios for all financing transactions that remained outstanding and were facilitated by the Company were 2.66% and 1.37
SHANGHAI, March 5, 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 fourth quarter and full year 2023 financial results after the market closes on Monday, March 11, 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, March 11, 2024 at 9:00 P.M. Eastern Time or Tuesday, March 12, 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 Unite
SHANGHAI, Jan. 26, 2024 /PRNewswire/ -- On January 17, 2024, Caocao Mobility and Cango embarked on a strategic partnership in smart mobility to explore areas including new car sales, used car transactions, financing services, and mobility offerings, marking the occasion with a signing ceremony. The parties are committed to fostering a next-generation smart mobility ecosystem by fully leveraging their respective advantages and resources and embracing their synergies. The signing ceremony was attended by key management representatives from both parties, with the agreement inked by Mr. Liqun Liu (front row, left), Head of Caocao Automotive Center, and Mr. Meng Xu (front row, right), Head of Ca
SHANGHAI, Nov. 27, 2023 /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 2023. Third Quarter 2023 Financial and Operational Highlights Total revenues were RMB353.6 million (US$48.5 million), compared with RMB416.4 million in the same period of 2022. Car trading transactions revenues were RMB263.8 million (US$36.2 million), or 74.6% of total revenues, in the third quarter of 2023, compared with RMB347.2 million in the same period of 2022.The total outstanding balance of financing transactions the Company facilitated was RMB13,085.6 million (US
6-K - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
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6-K - 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)
20-F - Cango Inc. (0001725123) (Filer)
6-K - Cango Inc. (0001725123) (Filer)
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
SHANGHAI, March 11, 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 fourth quarter and full year of 2023. Fourth Quarter 2023 Financial and Operational Highlights Total revenues were RMB130.2 million (US$18.3 million), compared with RMB487.1 million in the same period of 2022. The total outstanding balance of financing transactions the Company facilitated was RMB10.0 billion (US$1.4 billion) as of December 31, 2023. M1+ and M3+ overdue ratios for all financing transactions that remained outstanding and were facilitated by the Company were 2.66% and 1.37
SHANGHAI, March 5, 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 fourth quarter and full year 2023 financial results after the market closes on Monday, March 11, 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, March 11, 2024 at 9:00 P.M. Eastern Time or Tuesday, March 12, 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 Unite
SHANGHAI, Nov. 27, 2023 /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 2023. Third Quarter 2023 Financial and Operational Highlights Total revenues were RMB353.6 million (US$48.5 million), compared with RMB416.4 million in the same period of 2022. Car trading transactions revenues were RMB263.8 million (US$36.2 million), or 74.6% of total revenues, in the third quarter of 2023, compared with RMB347.2 million in the same period of 2022.The total outstanding balance of financing transactions the Company facilitated was RMB13,085.6 million (US
SHANGHAI, Nov. 21, 2023 /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 2023 financial results after the market closes on Monday, November 27, 2023. 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 27, 2023 at 8:00 P.M. Eastern Time or Tuesday, November 28, 2023 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 State
SHANGHAI, Aug. 23, 2023 /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 2023. Second Quarter 2023 Financial and Operational Highlights Total revenues were RMB675.4 million (US$93.1 million), a 133.6% increase from RMB289.2 million in the same period of 2022. Car trading transactions revenues were RMB562.8 million (US$77.6 million) in the second quarter of 2023, representing 83.3% of total revenues in the same period, a 157.4% increase from RMB218.6 million in the same period of 2022.The total outstanding balance of financing transactions the
SHANGHAI, Aug. 18, 2023 /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 2023 financial results after the market closes on Wednesday, August 23, 2023. 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, August 23, 2023 at 9:00 P.M. Eastern Time or Thursday, August 24, 2023 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 Sta
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