Information Technology
Cango Inc. Completes PRC Business Sale, Strengthens Board to Drive Global Bitcoin Focus
This transaction also represents a transformative step for Cango, cementing its strategic shift to a focused leader in global Bitcoin mining. The Company is now streamlined and better capitalized, positioning it to aggressively pursue its growth objectives and enhance shareholder value.
As part of this strategic realignment, the Company has further restructured its Board of Directors with the appointment of two new members, effective May 27, 2025 , bringing deep expertise in Fintech, AI, Web 3.0, and global capital markets to steer Cango's Bitcoin-focused future. Looking ahead, this enhanced board composition reinforces Cango's commitment to innovation and strengthens its position for leadership in the rapidly evolving digital finance landscape.
The initial agreements for the sale of PRC Business were announced on April 3, 2025 , with shareholder approval obtained on May 16, 2025 . Following the divestment, the Company will apply to the China Securities Regulatory Commission ("CSRC") to terminate its "China Concept Stock" status.
Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America , the Middle East , South America , and East Africa . The Company entered the crypto asset space in November 2024 , driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through AutoCango.com, making it easier for global customers to access high-quality vehicle inventory from China . For more information, please visit: www.cangoonline.com.
Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com
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