DALLAS, Texas, Dec. 24, 2025 /PRNewswire/ -- Greenridge Capital has initiated coverage on Cango Inc. (NYSE: CANG) ("Cango" or the "Company") with a buy rating and US$4.00 target price, noting that Cango appears to be "mispriced and overlooked by the market given its market leading Bitcoin mining status and asset-light model for entry into the high-performance computing (HPC) market." According to the Greenridge Capital report, Cango is trading below the value of its assets, which include liquid holdings in ...

12月22日，格隆汇在线上举办"科技赋能·资本破局"分享会。本次分享会，备受瞩目的卓越公司评选榜 单将隆重揭晓，其中格隆汇"金格奖"年度卓越公司评选中，灿谷(CANG.US)、华兴资本控股 (01911.HK)、华赢集团(AXG.US)、汇通达网络(09878.HK)、晋景新能(01783.HK)、智云健康 (09955.HK) 6家企业荣获"年度转型先锋奖"奖项。（排名不分先后，按公司首部字母顺序排列） 格隆汇以"全球视野，下注中国"为初衷，本次评选旨在打造出投资圈中最具参考价值的上市公司及独角 兽公司排行榜。此次"金格奖"上市公司评选覆盖港交所、上交所、深交所、纽交所、美国证券交易所、 纳斯达克证券交易所挂牌上市的全部上市公司及独角兽公司。 "年度转型先锋奖"着重关注企业对动态环境变化的适应力，以及实现长期可持续、高质量发展的能力， 真正通过转型创造价值、保持创新活力，并对产业升级产生积极影响的领先企业。该奖项体现对拥有卓 越的财务表现、善于创新、充满韧性，社会效益和经济效益并重公司的肯定。本次评选通过定量数据分 析和专家评审团等方式得出最终结果。 | 11 | 2025年度卓越公司评选榜单 D | | ...

Core Viewpoint - Greenridge Capital initiated coverage on Cango Inc. with a Buy rating and a $4.00 price target, highlighting the company's undervaluation and overlooked potential in Bitcoin mining and high-performance computing [1] Group 1: Company Position and Assets - Cango holds a market-leading position in Bitcoin mining, owning mining equipment that ranks it among the largest global miners [2] - The company possesses over $600 million in Bitcoin and has recently acquired its first infrastructure facility, along with two ongoing energy generation projects [2] - Cango has sufficient cash and equity resources to pursue further strategic expansion [2] Group 2: Future Expectations and Valuation - Greenridge Capital anticipates that management will provide additional details on expansion initiatives in the coming months, which could act as a catalyst for a valuation re-rating [3] - The $4.00 price target is based on a 7x EV-to-adjusted EBITDA multiple applied to a 2026 adjusted EBITDA estimate of $335.4 million and a 15x price-to-earnings multiple applied to a projected 2026 diluted EPS of $0.34, both of which are below industry peer multiples [3]

"年度转型先锋奖"着重关注企业对动态环境变化的适应力，以及实现长期可持续、高质量发展的能力， 真正通过转型创造价值、保持创新活力，并对产业升级产生积极影响的领先企业。该奖项体现对拥有卓 越的财务表现、善于创新、充满韧性，社会效益和经济效益并重公司的肯定。本次评选通过定量数据分 析和专家评审团等方式得出最终结果。 格隆汇以"全球视野，下注中国"为初衷，本次评选旨在打造出投资圈中最具参考价值的上市公司及独角 兽公司排行榜。此次"金格奖"上市公司评选覆盖港交所、上交所、深交所、纽交所、美国证券交易所、 纳斯达克证券交易所挂牌上市的全部上市公司及独角兽公司。 12月22日，格隆汇在线上举办"科技赋能·资本破局"分享会。本次分享会，备受瞩目的卓越公司评选榜 单将隆重揭晓，其中格隆汇"金格奖"年度卓越公司评选中，灿谷(CANG.US)、华兴资本控股 (01911.HK)、华赢集团(AXG.US)、汇通达网络(09878.HK)、晋景新能(01783.HK)、智云健康 (09955.HK)6家企业荣获"年度转型先锋奖"奖项。（排名不分先后，按公司首部字母顺序排列） | 2025年度卓越公司评选榜单 | | | --- | ...

格隆汇12月20日｜美股市场加密货币概念股集体走强，其中，灿谷、嘉楠科技涨超6%，Strategy涨超 4%，聪链集团涨超4%，Circle涨超3%，第九城市涨超2%，Coinbase涨近2%。 ...

9月4日，灿谷(美东)盘后披露2025财年中报（数据来源于纳斯达克官网，预计披露日期为美国当地时 间，实际披露日期以公司公告为准）。 据交易所数据显示，12月17日，灿谷(CANG)开盘上涨3.01%，截至22:30，报1.37美元/股，成交9.4万美 元，总市值4.99亿美元。 财务数据显示，截至2025年03月31日，灿谷收入总额10.54亿人民币，同比增长1535.89%；归母净利 润-2.07亿人民币，同比减少330.33%。 大事提醒： 资料显示，灿谷公司(纽交所:CANG)是中国领先的汽车交易服务平台,连接经销商、金融机构、购车者 和其他行业参与者。该公司由中国汽车金融行业的一批先驱于2010年创立,总部设在上海,通过一个全国 性的经销商网络吸引汽车买家。公司的服务主要包括汽车融资便利化、汽车交易便利化和售后服务便利 化。通过利用其在技术、数据洞察和基于云的基础设施方面的竞争优势,灿谷能够连接其平台参与者,同 时为他们带来优质的用户体验。随着中国汽车和移动市场的不断发展和发展,灿谷的平台模式使其处于 一个独特的位置,为其平台参与者和商业伙伴增加价值。 本文源自：市场资讯 作者：行情君 ...

据交易所数据显示，12月16日，灿谷(CANG)盘中上涨8.33%，截至22:36，报1.3美元/股，成交4.73万美 元，总市值4.74亿美元。 本文源自：市场资讯 作者：行情君 大事提醒： 9月4日，灿谷(美东)盘后披露2025财年中报（数据来源于纳斯达克官网，预计披露日期为美国当地时 间，实际披露日期以公司公告为准）。 资料显示，灿谷公司(纽交所:CANG)是中国领先的汽车交易服务平台,连接经销商、金融机构、购车者 和其他行业参与者。该公司由中国汽车金融行业的一批先驱于2010年创立,总部设在上海,通过一个全国 性的经销商网络吸引汽车买家。公司的服务主要包括汽车融资便利化、汽车交易便利化和售后服务便利 化。通过利用其在技术、数据洞察和基于云的基础设施方面的竞争优势,灿谷能够连接其平台参与者,同 时为他们带来优质的用户体验。随着中国汽车和移动市场的不断发展和发展,灿谷的平台模式使其处于 一个独特的位置,为其平台参与者和商业伙伴增加价值。 财务数据显示，截至2025年03月31日，灿谷收入总额10.54亿人民币，同比增长1535.89%；归母净利 润-2.07亿人民币，同比减少330.33%。 ...

据交易所数据显示，12月15日，灿谷(CANG)开盘上涨4.92%，截至22:30，报1.28美元/股，成交138.45 万美元，总市值4.66亿美元。 财务数据显示，截至2025年03月31日，灿谷收入总额10.54亿人民币，同比增长1535.89%；归母净利 润-2.07亿人民币，同比减少330.33%。 大事提醒： 9月4日，灿谷(美东)盘后披露2025财年中报（数据来源于纳斯达克官网，预计披露日期为美国当地时 间，实际披露日期以公司公告为准）。 资料显示，灿谷公司(纽交所:CANG)是中国领先的汽车交易服务平台,连接经销商、金融机构、购车者 和其他行业参与者。该公司由中国汽车金融行业的一批先驱于2010年创立,总部设在上海,通过一个全国 性的经销商网络吸引汽车买家。公司的服务主要包括汽车融资便利化、汽车交易便利化和售后服务便利 化。通过利用其在技术、数据洞察和基于云的基础设施方面的竞争优势,灿谷能够连接其平台参与者,同 时为他们带来优质的用户体验。随着中国汽车和移动市场的不断发展和发展,灿谷的平台模式使其处于 一个独特的位置,为其平台参与者和商业伙伴增加价值。 本文源自：市场资讯 作者：行情君 ...

Core Insights - Cango Inc. reported a decrease in Bitcoin production for November 2025 compared to October 2025, producing 546.7 BTC down from 602.6 BTC [2] - The company holds a total of 6,959.3 BTC as of the end of November, an increase from 6,412.6 BTC in October [2] - Cango's deployed hashrate remained stable at 50 EH/s, while the average operating hashrate decreased to 44.38 EH/s from 46.09 EH/s [2] Production Metrics - Number of Bitcoin produced in November 2025: 546.7 BTC, down from 602.6 BTC in October 2025 [2] - Average number of Bitcoin produced per day in November 2025: 18.22 BTC, compared to 19.44 BTC in October 2025 [2] - Total number of Bitcoin held at the end of November 2025: 6,959.3 BTC, up from 6,412.6 BTC at the end of October 2025 [2] Operational Highlights - Deployed hashrate for November 2025: 50 EH/s, unchanged from October 2025 [2] - Average operating hashrate for November 2025: 44.38 EH/s, down from 46.09 EH/s in October 2025 [2] - The company has optimized operations to achieve average operating hashrate levels of around 90% [4] Strategic Developments - November 2025 marked the one-year milestone of Cango's strategic transformation, highlighting progress and direction [4] - The company completed its transition to the New York Stock Exchange, enhancing visibility and alignment in the U.S. market [4] - Cango aims to evolve from a leading Bitcoin miner into a global, distributed AI compute network powered by green energy [4] Company Overview - Cango Inc. is primarily engaged in Bitcoin mining, with operations across North America, the Middle East, South America, and East Africa [5] - The company entered the crypto asset space in November 2024, driven by advancements in blockchain technology and the growing adoption of digital assets [5] - Cango also operates an online international used car export business through AutoCango.com [5]

Core Insights - Cango reported total revenues of $224.6 million for Q3 2025, a 60.6% increase from Q2 2025, with net income of $37.3 million and operating income of $43.5 million [1] - The majority of revenue, $220.9 million, came from Cango's bitcoin mining operations, which saw a 37.5% increase in total output, mining 1,930.8 bitcoin during the quarter [2] - Cango's Adjusted EBITDA for Q3 was $80.1 million, a significant rise from $1.2 million in the same period of 2024 [2] Bitcoin Mining Operations - Daily bitcoin production averaged 21.0 bitcoin, a 36% increase over the prior period, with a total of 5,810 bitcoin mined since entering the industry in Q4 2024 [3] - The average cost to mine a single bitcoin was $81,072, with an all-in cost of $99,383 [3] - The average operating hashrate increased from 40.91 EH/s in July to 44.85 EH/s in September, further improving to 46.09 EH/s in October due to operational enhancements and hardware upgrades [4] Strategic Vision - Cango's CEO outlined a long-term strategy to build a global, distributed AI compute network powered by green energy, viewing bitcoin mining as a pathway to energy access and AI compute deployment [5] - The company has a roadmap with three phases: immediate GPU computing power leasing, medium-term self-operated data center hubs for inference services, and a long-term global AI compute grid [6] - Cango is currently working on energy projects in Oman and Indonesia, expected to be commissioned within one to two years [6] Reporting Changes - Cango changed its reporting currency from RMB to USD effective this quarter [7]