Cango Inc - ADR

Cango, Inc. is a holding company, which engages in the development and operation of automotive transaction service platform for connecting dealers, financial institutions, and car buyers. The firm's services cover each key component of the automotive transaction value chain, including pre-sale automobile trading solutions, during-sale automotive financing facilitation services, and post-sale after-market services facilitation. The company was founded by Jia Yuan Lin and Xiao Jun Zhang in August 2010 and is headquartered in Shanghai, China.

Earnings data Q1 2021

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Earnings data Q4 2024

Cango Inc reports robust Q1 earnings amidst strategic shifts

Cango Inc's Q1 performance reflects a strategic shift towards profitability and market expansion. While facing challenges in revenue growth and user engagement, the company holds strong financial positions and growth opportunities. By focusing on enhancing customer experience and product offerings, Cango Inc aims to drive growth and strengthen its market position.

Cango Inc reports solid Q2 earnings, eyes global market expansion

Cango Inc demonstrated resilience amidst automotive market challenges, maintaining solid financial performance and a strong cash position.
The company's strategic focus on cost control, risk management, and market expansion through digital platforms and partnerships is evident.
While facing revenue forecasts for Q3, Cango's emphasis on innovation and global market presence presents opportunities for future growth.

Cango Inc reports stable Q3 earnings, eyes global expansion opportunities

Cango Inc's Q3 2024 earnings call showcased stable financials, a focus on innovation, and strategic growth initiatives amidst market challenges and opportunities.
The company's strong user engagement, cash reserves, and plans for international expansion position it well for future success and market resilience.

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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.

Cango Inc. Announces Change of Independent Registered Public Accounting Firm

SHANGHAI , Nov. 15, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it has completed the previously announced 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 Bitmain Technologies Georgia Limited and Bitmain Development Limited (together, "Bitmain"), a leading manufacturer of digital currency mining servers. The Company announced the Cash-Settled Transaction on November 6, 2024, together with its proposed acquisition of on-rack crypto mining machines with an aggregate hashrate of 18 EH from Golden TechGen Limited and certain other sellers for a total purchase price of approximately US$144 million, which will be paid through issuance of shares to the sellers by the Company (the "Share-Settled Transactions" and together with the Cash-Settled Transaction, the "Proposed Transactions").

Cango Inc. Completes Cash-Settled Acquisitions of Crypto Mining Assets

SHANGHAI , Nov. 6, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it has entered into agreements to purchase on-rack crypto mining machines with an aggregate hashrate of 50 Exahash per second ("EH") for total considerations valued at approximately US$400 million from a group of sellers. The largest seller will be Bitmain Technologies Georgia Limited and Bitmain Development Limited (together, "Bitmain"), a leading manufacturer of digital currency mining servers, and the Company has agreed to purchase from Bitmain on-rack crypto mining machines with an aggregate hashrate of 32EH for a total purchase price of US$256 million in cash (the "Cash-Settled Transaction").

Cango Inc. Announces Agreements to Acquire Crypto Mining Assets

Cango Inc. (NYSE:CANG ) Q3 2024 Earnings Conference Call November 4, 2024 8:00 PM ET Company Participants Jiayuan Lin - Founder and CEO Ruiyan - Finance Director Conference Call Participants Emerson Zhao - Goldman Sachs Pingyue Wu - CITIC Securities Operator Good morning, and good evening, everyone. Welcome to Cango Inc.'s Third Quarter 2024 Earnings Conference Call.

Cango Inc. (CANG) Q3 2024 Earnings Call Transcript

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.

Cango Inc. Reports Third Quarter 2024 Unaudited Financial Results

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 Inc. to Report Third Quarter 2024 Financial Results on November 4, 2024 Eastern Time

Cango Inc. (NYSE:CANG ) Q2 2024 Earnings Conference Call August 30, 2024 9:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Conference Call Participants Operator Good morning, and good evening, everyone. Welcome to Cango Inc.'s Second Quarter 2024 Earnings Conference Call.

Cango Inc. (CANG) Q2 2024 Earnings Call Transcript

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.

Cango Inc. Reports Second Quarter 2024 Unaudited Financial Results

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 Inc. to Report Second Quarter 2024 Financial Results on August 29, 2024 Eastern Time

Cango Inc. (NYSE:CANG ) Q1 2024 Earnings Conference Call June 12, 2024 9:00 AM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Conference Call Participants Pingyue Wu - Citic Securities Operator Good morning, and good evening, everyone. Welcome to Cango Inc.'s First Quarter 2024 Earnings Conference Call.

Cango Inc. (CANG) Q1 2024 Earnings Call Transcript

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.

Cango Inc. Reports First Quarter 2024 Unaudited Financial Results

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 Inc. to Report First Quarter 2024 Financial Results on June 12, 2024 Eastern Time

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.

Cango Inc. Filed Its Annual Report on Form 20-F

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 block trades and/or through other legally permissible means, in accordance with applicable rules and regulations.

Cango Inc. Announces Up to US$50 Million New Share Repurchase Program

Cango Inc. (NYSE:CANG ) Q4 2023 Earnings Conference Call March 11, 2024 9:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Conference Call Participants Pingyue Wu - Citic Securities Operator Good morning and good evening, everyone. Welcome to Cango Inc.'s Fourth Quarter and Fiscal Year 2023 Earnings Conference Call.

Cango Inc. (CANG) Q4 2023 Earnings Call Transcript

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.

Cango Inc. Reports Fourth Quarter and Full Year 2023 Unaudited Financial Results

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 Inc. to Report Fourth Quarter and Full Year 2023 Financial Results on March 11, 2024 Eastern Time

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.

Cango Announces Strategic Partnership with Caocao Mobility for Next-Generation Smart Mobility Ecosystem

DUBAI , UAE, Dec. 12, 2023 /PRNewswire/ -- In the era of globalization, companies play an important role in helping solving social problems, and promoting social progress and sustainability while creating economic value. In this sense, it is an important task for all countries worldwide to promote enterprise-community integration and development.

NaaS and CANGO Jointly Release the "Initiative on Sustainability of Enterprise-Community Integration in the Middle East"

Cango Inc. (NYSE:CANG ) Q3 2023 Results Conference Call November 27, 2023 8:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Operator Good morning and good evening, everyone. Welcome to Cango Inc's Third Quarter 2023 Earnings Conference Call.

Cango Inc. (CANG) Q3 2023 Earnings Call Transcript

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.

Cango Inc. Reports Third Quarter 2023 Unaudited Financial Results

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 Inc. to Report Third Quarter 2023 Financial Results on November 27, 2023 Eastern Time

Cango Inc. (NYSE:CANG ) Q2 2023 Results Conference Call August 23, 2023 9:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Conference Call Participants Sophia Xu - Goldman Sachs Operator Good morning, and good evening, everyone. Welcome to Cango, Inc.'s Second Quarter 2023 Earnings Conference Call.

Cango Inc. (CANG) Q2 2023 Earnings Call Transcript

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.

Cango Inc. Reports Second Quarter 2023 Unaudited Financial Results

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/.

News for Cango Inc - ADR Stock (CANG)