Cango Inc. Secures $10.5 Million Investment and Additional $65 Million Stake

Cango Inc. Secures $75 Million in New Investments

Cango Inc. (NYSE: CANG), a prominent player in the Bitcoin mining sector, has successfully closed an investment deal worth $10.5 million with Enduring Wealth Capital Limited (EWCL). This significant funding marks a pivotal moment in Cango's strategy to enhance its integrated energy and AI computing platform on a global scale.

In addition to the initial investment, Cango has secured commitments for additional equity investments amounting to $65 million from entities fully owned by Mr. Xin Jin, the company's Chairman, and Mr. Chang-Wei Chiu, a company Director. These investments demonstrate both leaders' confidence in Cango's strategic direction and future potential.

Key Details of the Transaction

On December 29, 2025, Cango entered into an investment agreement with EWCL where it sold 7 million Class B common shares to EWCL at a price of $1.50 per share, reflecting a robust interest from the investor. Following this transaction, EWCL’s economic ownership in Cango climbed from approximately 2.81% to 4.71%, and its voting rights surged from 36.68% to 49.71%, demonstrating a strong influence on company governance.

Additional Investments Secured

To reinforce their belief in the company’s strategic path, both Mr. Jin and Mr. Chiu have made plans to invest further. Under the guidance of the audit committee and board, two investment agreements have been formalized:
1. Fortune Peak Limited (FPL), wholly owned by Mr. Chiu, will purchase approximately 29,975,137 Class A common shares at a total of $39,567,181.
2. Armada Network Limited (ANL), owned entirely by Mr. Jin, will acquire about 19,267,287 Class A shares for a total of $25,432,819. The share price of $1.32 was determined based on the closing stock price of Class A shares in the prior four weeks.

As a result of these transactions, Mr. Chiu is expected to hold around 11.99% of all outstanding shares and 6.71% of voting rights. For Mr. Jin, the expected stakes will be approximately 4.70% in terms of ownership and 2.63% concerning voting power.

Future Prospects

These investment agreements are expected to close in February 2026, subject to standard conditions and regulatory approvals. The funds generated from these investments aim to propel Cango's expansion efforts in AI and computing infrastructure, while also solidifying its balance sheet, facilitating further growth in the ever-evolving tech landscape.

In summary, Cango Inc.’s recent financial maneuvers not only signify strengthened investor confidence but also align with the company’s vision of advancing smart technology infrastructures for future developments in cryptocurrency and beyond. With solid backing from influential stakeholders and a strategic roadmap laid out, Cango appears poised for significant growth in the coming years.