#None #Bitcoin Mining #Cango Inc #Share Consolidation

Cango Inc. Announces Outcomes of Extraordinary General Meeting

Cango Inc., a notable player in the Bitcoin mining industry, held an extraordinary general meeting (EGM) on June 24, 2026. This assembly marked a pivotal moment for the company, as shareholders gathered to vote on various important resolutions affecting its future.

Meeting Outcomes

During the EGM, shareholders voted in favor of critical resolutions regarding the company’s structured growth and equity. The primary resolution approved was the consolidation of its share capital. This consists of both the Class A and Class B ordinary shares, valued at $0.0001 each. The consolidation will occur at a ratio determined by the board of directors, potentially up to a 101-to-one ratio. Shares will maintain the same rights as existing ones, except for their par value.

One notable aspect of the consolidation is the handling of fractional shares: any shareholder who would receive a fractional share will have their total shares rounded down to the nearest whole number, while fractions will be canceled. This approach ensures a cleaner transition to the new share structure without creating unforeseen complexities.

Additionally, shareholders approved a special resolution to adopt a fifth amended and restated memorandum and articles of association. This updated document aligns with the new share structure, replacing the current governing documents entirely.

Future Steps

Although the resolutions have been passed, Cango Inc.'s board has yet to finalize the execution date and specific consolidation ratio. The company has promised to keep stakeholders updated on these decisions, ensuring transparency and continued communication.

For those interested in the detailed resolutions, complete texts were made available to shareholders ahead of the meeting and can be found in reports filed with the Securities and Exchange Commission (SEC) and on the company's website.

About Cango Inc.

Cango Inc. is aiming to establish itself as a major entity in Bitcoin mining, looking to build a robust platform to support the burgeoning digital economy. With mining operations that span across multiple continents—including North America, the Middle East, South America, and East Africa—the company is on a growth trajectory following its entry into the digital assets arena in November 2024.

Cango has not only been focused on mining but is also involved in pilot projects for integrated energy solutions and distributed AI computing. Moreover, it operates an online platform for international used car exports under the brand AutoCango.com, diversifying its business strategy.

As Cango navigates through these exciting times, all eyes will be on how effectively the company can implement these resolutions and capitalize on its evolving capabilities in the cryptocurrency landscape.

For ongoing updates, please visit Cango's official website and follow the company on X and LinkedIn for real-time insights and developments.