#United States #Dallas #Bitcoin Mining #NYSE #Cango

Cango Inc. Class A Ordinary Shares Trading on NYSE

Cango Inc. (NYSE: CANG) is set to enhance its market presence as its Class A ordinary shares are scheduled to begin trading on the New York Stock Exchange (NYSE) on November 17, 2025. This significant milestone follows the termination of Cango's American Depositary Receipt (ADR) program, which has paved the way for a more direct investment approach for U.S. investors.

On the day the ADR program ends, holders of Cango's American depositary shares (ADS) will receive two Class A ordinary shares for each ADS owned. This action is akin to a 2-for-1 stock split, making shares more accessible and aligning better with market practices. The NYSE authorized this direct listing on November 14, enhancing transparency and ease of trading for investors.

The transition to a direct public listing signifies a strategic shift for Cango, which has energized its focus on aligning with institutional investors and broadening its shareholder base. One of the notable advantages this change offers is the elimination of depositary fees associated with the ADS, potentially increasing Cango's attractiveness among investors.

As of now, Cango boasts approximately 356 million Class A ordinary shares outstanding. This strategic maneuver does not involve any new share issuance or capital raising, ensuring that existing shareholders' stakes are preserved without any dilution.

About Cango Inc.

Cango Inc. engages primarily in Bitcoin mining activities, with operations strategically located in various regions, including North America, the Middle East, South America, and East Africa. The company ventured into the crypto asset domain in November 2024, driven by advancements in blockchain technologies and the rising acceptance of digital currencies, as well as its vision of diversifying its business portfolio.

In addition to its focus on cryptocurrency, Cango operates an international used car export business through its platform, AutoCango.com, showcasing a variety of high-quality vehicles sourced from China and catering to a global audience.

A Balance of Innovation and Strategy

This move to a direct listing reflects Cango's commitment to a transparent, investor-friendly structure while enhancing its visibility in the institutional investment community. The company's solid strategic focus is expected to cultivate a broader investor base over time, standing in alignment with the ongoing transformations shaping both the financial and crypto landscapes.

Cango's leadership considers this transition pivotal to not only retaining but actively engaging shareholders as it continues to navigate the evolving challenges and opportunities in the mining and used car export sectors.

For further insights and detailed updates, investors can explore more about Cango's operational strategies and future directives at Cango's official website.

Forward-looking Statements

Cango Inc. has issued a note regarding the importance of this strategic shift, emphasizing that the projections made in this announcement are forward-looking and are subject to various uncertainties and risks. Stakeholders are advised to consider these factors when evaluating Cango's future potential.

The company's approach embodies a blend of innovative practices while maintaining strong governance principles, aiming for a sustainable growth trajectory that benefits both the company and its investors.