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 , June 5, 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 first quarter 2023 financial results after the market closes on Thursday, June 8, 2023. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/.

Cango Inc. to Report First Quarter 2023 Financial Results on June 8, 2023 Eastern Time

SHANGHAI , April 21, 2023 /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, 2023. 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 New Share Repurchase Program

Cango Inc. (NYSE:CANG ) Q4 2022 Results Conference Call March 9, 2023 8:00 PM ET Company Participants Jiayuan Lin - CEO Michael Zhang - CFO Conference Call Participants Shelley Wang - Morgan Stanley Operator Good morning, and good evening, everyone. Welcome to Cango, Inc.'s Fourth Quarter and Full Year 2022 Earnings Conference Call.

Cango Inc. (CANG) Q4 2022 Earnings Call Transcript

SHANGHAI , March 9, 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 fourth quarter and full year of 2022. Fourth Quarter 2022 Financial and Operational Highlights Total revenues were RMB487.1 million (US$70.6 million), compared with RMB1,050.5 million in the same period of 2021.

Cango Inc. Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results

SHANGHAI , March 6, 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 fourth quarter and full year 2022 financial results after the market closes on Thursday, March 9, 2023. 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 2022 Financial Results on March 9, 2023 Eastern Time

Cango Inc. (NYSE:CANG ) Q3 2022 Earnings Conference Call November 29, 2022 8:00 PM ET Corporate Participants Jiayuan Lin - Chief Executive Officer Michael Zhang - Chief Financial Officer Conference Call Participants Shelley Wang - Morgan Stanley Sophia Xu - Goldman Sachs Brian Lantier - Zacks Operator Good morning and good evening, everyone. Welcome to the Cango, Inc.'s Third Quarter 2022 Earnings Conference Call.

Cango Inc. (CANG) Q3 2022 Earnings Call Transcript

SHANGHAI , Nov. 29, 2022 /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 2022. Third Quarter 2022 Financial and Operational Highlights Total revenues were RMB416.4 million (US$58.5 million), compared with RMB800.6 million in the same period of 2021.

Cango Inc. Reports Third Quarter 2022 Unaudited Financial Results

SHANGHAI , Nov. 23, 2022 /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 2022 financial results after the market closes on Tuesday, November 29, 2022. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/.

Cango Inc. to Report Third Quarter 2022 Financial Results on November 29, 2022 Eastern Time

SHANGHAI , Oct. 17, 2022 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that November 25, 2022 (Eastern Time) has been set by the NYSE as the ex-dividend date for the special cash dividend announced on October 11, 2022 according to due bill process. As previously announced, a special cash dividend of US$0.5 per ordinary share (or US$1 per American depositary share) on Cango's outstanding shares will be paid on November 23, 2022 (Eastern Time) to shareholders of record as of the close of trading on October 24, 2022 (Eastern Time).

Cango Inc. Announces Ex-dividend Date

The stock's high dividend yield comes with a risky proposition.

Why Cango Stock Was Soaring Earlier Today

SHANGHAI , Oct. 11, 2022 /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 approved and declared a special cash dividend of US$0.5 per ordinary share (or US$1 per American depositary share) on its outstanding shares, to be paid on November 23, 2022 (Eastern Time) to shareholders of record as of the close of trading on October 24, 2022 (Eastern Time). About Cango Inc. Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting car buyers, dealers, financial institutions, and other industry participants.

Cango Inc. Declares Special Cash Dividend

The stock price of Cango (CANG) fell by 10.04% in the most recent trading session. This is why.

Cango (CANG) Stock: Why It Fell 10.04%

Cango Inc. (NYSE:CANG ) Q2 2022 Earnings Conference Call August 29, 2022 9:00 PM ET Company Participants Jiayuan Lin - Co-Founder & Chief Executive Officer Yongyi Zhang - Chief Financial Officer Conference Call Participants Shelley Wang - Morgan Stanley Sophia Xu - Goldman Sachs Operator Good morning, and good evening, everyone. Welcome to Cango Inc.'s Second Quarter 2022 Earnings Conference Call.

Cango Inc. (CANG) Q2 2022 Earnings Call Transcript

SHANGHAI , Aug. 29, 2022 /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 2022. Second Quarter 2022 Financial and Operational Highlights Total revenues were RMB289.2 million (US$43.2 million), compared with RMB946.7 million in the same period of 2021.

Cango Inc. Reports Second Quarter 2022 Unaudited Financial Results

SHANGHAI , Aug. 25, 2022 /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 2022 financial results after the market closes on Monday, August 29, 2022. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/.

Cango Inc. to Report Second Quarter 2022 Financial Results on August 29, 2022 Eastern Time

Key Takeaways: Cango's revenue fell 30% in the first quarter, led by a 74% decline in its legacy auto financing business that the company is de-emphasizing in favor of broader auto trading services The company launched an app version of its Cango Haoche this month, expanding last year'.

Macro Headwinds Accelerate Cango's Drive to Car Trading from Auto Finance

SHANGHAI , June 21, 2022 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that the Company launched its Cango Haoche mobile application (the "APP") on June 20, 2022. Built on the success of its Cango Haoche WeChat mini-program, which was introduced last year, the APP marks an important milestone for Cango in transforming its business into a one-stop automotive transaction services platform empowering the whole automotive chain.

Cango Inc. Launches Cango Haoche APP

Cango Inc. (NYSE:CANG ) Q1 2022 Earnings Conference Call June 8, 2022 9:00 PM ET Company Participants Jiayuan Lin - CEO Michael Zhang - CFO Conference Call Participants Shelley Wang - Morgan Stanley Sophia Xu - Goldman Sachs Operator Good morning and good evening, everyone. Welcome to Cango, Inc.'s First Quarter 2022 Earnings Conference Call.

Cango Inc. (CANG) CEO Jiayuan Lin on Q1 2022 Results - Earnings Call Transcript

SHANGHAI , June 9, 2022 /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 2022. First Quarter 2022 Financial and Operational Highlights Total revenues were RMB787.7 million (US$124.3 million), compared with RMB1,123.8 million in the same period of 2021.

Cango Inc. Reports First Quarter 2022 Unaudited Financial Results

SHANGHAI, June 6, 2022 /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 2022 financial results after the market closes on Thursday, June 9, 2022. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/.

Cango Inc. to Report First Quarter 2022 Financial Results on June 9, 2022 Eastern Time

SHANGHAI , May 19, 2022 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that Mr. Xiaoyu Liu has tendered his resignation as a director of Cango for personal reasons.

Cango Inc. Announces a Change to Its Board of Directors

SHANGHAI, April 22, 2022 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced (i) the declaration of a special cash dividend, (ii) a new share repurchase program, and (iii) option grants to certain executive officers. Special Cash Dividend Cango's board of directors has approved and declared a special cash dividend of US$0.5 per ordinary share (or US$1 per American depository share) on its outstanding shares, to be paid on June 15, 2022  (Eastern Time) to shareholders of record as of the close of trading on May 25, 2022 (Eastern Time).

Cango Inc. Announces Certain Updates

Cango Inc.'s (CANG) CEO Jiayuan Lin on Q4 2021 Results - Earnings Call Transcript

SHANGHAI, March 10, 2022 /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 2021. Fourth Quarter 2021 Financial and Operational Highlights Total revenues were RMB1,050.5 million (US$164.9 million), compared with RMB1,097.4 million in the same period of 2020, outperforming the high end of the Company's guidance by 5.1%.

Cango Inc. Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results

SHANGHAI, March 8, 2022 /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 2021 financial results after the market closes on Thursday, March 10, 2022. 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)