Cango Inc. Announces Key Executive Changes in Leadership Team

Cango Inc. Announces New Key Appointments

On April 22, 2026, Cango Inc. (NYSE: CANG) revealed significant changes within its executive leadership team, appointing Mr. Simon Ming Yeung Tang as the new Chief Financial Officer (CFO) and director, effective immediately. This strategic move comes as the company continues to evolve in the competitive Bitcoin mining sector.

Mr. Tang, who previously served as the Chief Investment Officer at Cango, is now tasked with guiding the company's financial strategies and operations. His appointment marks a pivotal moment as the company endeavors to strengthen its financial governance and drive growth initiatives following the resignation of Mr. Chang-Wei Chiu and Mr. Yongyi Zhang from their respective positions on the board and as CFO. Both executives stepped down for personal reasons, and Cango has expressed its gratitude for their dedicated service and contributions during their tenures.

Paul Yu, the Chief Executive Officer (CEO) of Cango, voiced appreciation for Mr. Zhang's and Mr. Chiu's efforts, stating, "We are grateful for Mr. Yongyi Zhang's commitment and leadership during his tenure, and we extend our best wishes to him and Mr. Chiu in their future pursuits."

Mr. Tang brings a wealth of experience in finance and investment, aligning with Cango’s strategic priorities as the company aims to reinforce its position in the market. With his extensive background, the board of directors anticipates that Mr. Tang's leadership will bolster Cango's ambitions as it continues to explore new horizons in the digital asset domain.

About Cango Inc.

Cango Inc. operates as a leading Bitcoin mining company with a bold vision of constructing a globally integrated infrastructure platform to support the burgeoning digital economy. Its mining operations reach across various regions, including North America, the Middle East, South America, and East Africa.

Since entering the digital asset realm in November 2024, Cango has initiated pilot projects that focus on integrated energy solutions and distributed artificial intelligence (AI) computing. The company also maintains an online international used car export business through its platform, AutoCango.com.

Cango's commitment to innovation is reflected in its ongoing efforts to enhance its service offerings while ensuring that its leadership team remains dynamic and responsive to market demands. The company is poised to capitalize on growth opportunities and navigate challenges within the rapidly evolving landscape of cryptocurrency and related technologies.

For further details about Cango Inc. and its latest developments, stakeholders are encouraged to visit www.cangoonline.com and engage with the company through its social media platforms on X and LinkedIn. Cango remains steadfast in its mission to advance the future of digital economies through innovative solutions and robust infrastructure.

This announcement includes forward-looking statements, which are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements are subject to uncertainties and may not reflect actual results due to various factors, including market conditions and company strategies. Further information can be found in Cango's filings with the SEC.

For investor relations inquiries, contact:
Juliet Ye, Head of Communications
Cango Inc.
Email: [email protected]

Christensen Advisory
Tel: +852 2117 0861
Email: [email protected]

Stay tuned for more updates as Cango Inc. continues to shape its path forward in the digital economy.