Cango Inc. Transitions to Direct NYSE Listing of Shares

Cango Inc. Transitions to Direct NYSE Listing of Shares

Cango Inc. (NYSE: CANG) has made a significant decision regarding its stock trading. The company's board of directors has approved the termination of its American Deposit Receipt (ADR) program. This strategic move means that as of November 14, 2025, the ADR program will no longer be active, and investors will see a direct transition. Each holder of an American Depositary Share (ADS) is set to receive two Class A ordinary shares, enhancing their direct ownership and engagement with the company.

The direct listing on the New York Stock Exchange represents a pivotal change for Cango Inc. The management believes that moving away from the ADR program simplifies the shareholder experience. U.S. investors will no longer transact indirectly through a Depositary, allowing them to exercise their rights as direct shareholders more efficiently. Additionally, this transition removes the depositary fees previously incurred by ADS holders, making it a more appealing option for investors.

Following the termination, Cango Inc.'s shares are expected to be traded on the NYSE under the existing symbol 'CANG' starting November 17, 2025. This aligns with the company’s aim of boosting visibility among institutional investors and expanding its U.S. investor base. By being more accessible in the U.S. market, Cango is taking steps to ensure its long-term sustainability and growth in a competitive landscape.

To ensure that all stakeholders are informed, the company will be sending out a termination notice to ADS holders that details the upcoming changes concerning the ADR program. This notice is set to be distributed on the announcement date, reinforcing Cango’s commitment to transparent communication with its investors.

About Cango Inc.

Cango Inc. (NYSE: CANG) is engaged in the dynamic Bitcoin mining sector. With operations strategically established across diverse regions, including North America and the Middle East, the company has carved a niche in the cryptographic landscape. Cango's entry into the crypto asset domain in late 2024 was driven by a commitment to innovation. It focuses not only on the burgeoning potential of blockchain technology but also on enhancing its diverse business portfolio.

Besides its crypto ventures, Cango runs AutoCango.com, which is integral to its online international used car export business. This platform facilitates global customers' access to quality vehicles sourced from China. As the trends in digital assets evolve, Cango remains dedicated to optimizing its services and providing significant value to its clients.

Investor Relations Contact

For any inquiries regarding this announcement or the company’s transition, interested parties can reach out to Juliet Ye, Head of Communications at Cango Inc. It is important for stakeholders to remain updated as the company progresses through this transition. Cango is committed to supporting its shareholders by ensuring they are well-informed about these impactful changes.

With its focus on technological advancement and strategic positioning within the market, Cango Inc. is poised to adapt and thrive in an evolving landscape that increasingly embraces digital innovations.

Frequently Asked Questions

What does the termination of the ADR program mean for shareholders?

The termination of the ADR program allows shareholders to hold Class A ordinary shares directly, eliminating depositary fees and enhancing their shareholder rights.

When will Cango Inc.'s shares start trading directly on the NYSE?

Cango Inc.'s Class A ordinary shares are expected to begin trading directly on the NYSE under the symbol 'CANG' on November 17, 2025.

Why is Cango Inc. making this transition?

The transition aims to simplify the ownership experience for U.S. investors, increase institutional visibility, and broaden the company's investor base.

How many Class A ordinary shares will ADS holders receive?

Each holder of one ADS will receive two Class A ordinary shares as part of the transition from the ADR program.

What businesses does Cango Inc. operate?

Cango Inc. is primarily engaged in Bitcoin mining while also running an online platform for used car exports, enhancing its portfolio in diverse sectors.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

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