HONG KONG, July 17, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Firm”) at present introduced that each one resolutions introduced to shareholders at its extraordinary normal assembly held on July 17, 2025 (the “Second Extraordinary Common Assembly”) have been duly handed. Every was authorised by at least 99.3% of the full votes forged, and at least 81% of the votes forged by non-affiliate shareholders of the Firm have been in favor of every of the resolutions.
The authorised resolutions authorize vital actions, together with the execution and efficiency of a Securities Buy Settlement (SPA) dated June 2, 2025, for the secondary sale of 10 million Class B abnormal shares by co-founders Mr. Xiaojun Zhang and Mr. Jiayuan Lin to Enduring Wealth Capital Restricted for US$70 million. This consists of the repurchase of routinely transformed Class A abnormal shares and the issuance of an equal variety of Class B abnormal shares. Moreover, shareholders authorised a rise within the Firm’s licensed share capital to help future financing and company wants, in addition to the adoption of the Fourth Amended and Restated Memorandum and Articles of Affiliation to replicate the up to date share capital construction.
The Firm expects to file the Fourth Amended and Restated Memorandum and Articles of Affiliation with the Cayman Islands Registrar promptly following the Second Extraordinary Common Assembly. Closing of the Secondary Sale is predicted on or round July 22, 2025, topic to customary closing circumstances. Whereas all related events are actively coordinating on the closing of the Secondary Sale, there may be no assurance that these circumstances can be glad or that the Secondary Sale can be accomplished on or earlier than the anticipated cut-off date—or in any respect.
The complete textual content of every decision was included within the discover of the Second Extraordinary Common Assembly, which was furnished to the Securities and Alternate Fee (the “SEC”) on Kind 6-Okay on June 16, 2025. The complete textual content of every decision can be out there on the Firm’s web site: ir.cangoonline.com.
About Cango Inc.
Cango Inc. (NYSE: CANG) is primarily engaged within the Bitcoin mining enterprise, with operations strategically deployed throughout North America, the Center East, South America, and East Africa. The Firm entered the crypto asset house in November 2024, pushed by developments in blockchain expertise, the rising adoption of digital belongings, and its dedication to diversifying its enterprise portfolio. In parallel, Cango continues to function a web-based worldwide used automobile export enterprise by way of AutoCango.com, making it simpler for international clients to entry high-quality car stock from China. For extra data, please go to: www.cangoonline.com.
Protected Harbor Assertion
This announcement comprises forward-looking statements. These statements are made underneath the “secure harbor” provisions of america Personal Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology akin to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Cango can also make written or oral forward-looking statements in its periodic studies to the SEC, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic information, together with statements about Cango’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A variety of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the completion, modification or reversal of any transactions entered into, proposed or thought of by Cango; Cango’s purpose and methods; Cango’s enlargement plans; Cango’s future enterprise improvement, monetary situation and outcomes of operations; Cango’s expectations concerning demand for, and market acceptance of, its options and providers; Cango’s expectations concerning preserving and strengthening its relationships with sellers, monetary establishments, automobile consumers and different platform members; normal financial and enterprise circumstances; and assumptions underlying or associated to any of the foregoing. Additional data concerning these and different dangers is included in Cango’s filings with the SEC. All data supplied on this press launch and within the attachments is as of the date of this press launch, and Cango doesn’t undertake any obligation to replace any forward-looking assertion, besides as required underneath relevant regulation.
Investor Relations Contact
Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
E-mail: [email protected]