Table of Contents Title of each classTrade symbolName of each exchange on which registered American Depositary Shares, each representing two Class A ordinary shares CANG New York Stock Exchange Class A Ordinary Shares, par value US$0.0001 per share* N/A New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 ...

Core Viewpoint - Cango Inc. has announced a new share repurchase program allowing for the repurchase of up to US$50 million worth of its outstanding American depositary shares (ADSs) and/or Class A ordinary shares over the next 12 months starting from April 25, 2024 [1] Group 1: Share Repurchase Program - The new share repurchase program will allow Cango to buy back shares on the open market at prevailing prices, through privately negotiated transactions, block trades, or other legal means [2] - The timing and number of shares repurchased will depend on various factors including price, trading volume, market conditions, and Cango's working capital requirements [2] - Cango's board will periodically review the program and may adjust its terms and size, with repurchases funded from existing cash [2] Group 2: Previous Share Repurchase Program - Prior to the new program, Cango had an existing share repurchase program announced on April 21, 2023, which also allowed for the repurchase of up to US$50 million worth of ADSs and/or Class A ordinary shares [3] - Under the existing program, Cango repurchased 30,833,867 ADSs for approximately US$44.6 million up to April 16, 2024 [3] - The existing program will remain in effect until its expiration on April 25, 2024 [3] Group 3: Company Overview - Cango Inc. is a leading automotive transaction service platform in China, connecting car buyers, dealers, financial institutions, and other industry participants [4] - Founded in 2010, Cango leverages technological innovation and big data to create an automotive supply chain ecosystem and a range of products focused on customer needs in auto transactions, financing, and after-market services [4] - The company aims to simplify car purchases and establish itself as the preferred service platform for customers [4]

Financial Data and Key Metrics Changes - Total revenue for Q4 2023 was RMB130.2 million, a significant decrease from RMB487.1 million in Q4 2022 [15] - Full year revenue for 2023 was RMB1.7 billion, with a net loss of RMB37.9 million [18] - Operating costs and expenses in Q4 2023 were RMB159.1 million, down from RMB698.7 million in the same period of 2022 [15] - The company reported a net loss of RMB103.8 million in Q4 2023, compared to a net loss of RMB211.6 million in Q4 2022 [18] Business Line Data and Key Metrics Changes - Cango successfully merged its new car platform, Cango Haoche, into Cango U-Car, enhancing operational efficiency [6] - The upgraded Cango U-Car app now serves as a comprehensive online marketplace, facilitating various used car transaction scenarios [6][7] - In Q4, Cango identified 9,887 potential business leads and facilitated 530 used car transactions [8] Market Data and Key Metrics Changes - The penetration rate of new energy vehicles (NEVs) rose from 28% in 2022 to 35% in 2023, with expectations to reach 40% in 2024 [26] - The traditional vehicle market is contracting, while NEVs are experiencing robust sales growth, leading to significant competition and margin pressure [26] Company Strategy and Development Direction - Cango aims to solidify its position in the auto transaction market by leveraging digital innovation and AI to enhance user experience [14] - The company is actively pursuing opportunities in the used car export market, launching AutoCango, a cross-border information exchange platform [12][27] - Cango's vision is to become an industry leader by refining and offering top-notch services across the automotive value chain [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging market environment in 2023 but expressed optimism about the long-term potential of China's auto industry [13] - The automotive market is expected to accelerate in 2024, driven by promotional activities from car manufacturers [26] - Management highlighted the importance of maintaining a prudent approach to dividends while considering overall strategic plans and cash flow [23] Other Important Information - Cango's cash and cash equivalents as of December 31, 2023, were RMB3.33 billion, indicating a strong financial position [4] - The company implemented strict cost reduction measures, successfully lowering operating expenses [3] Q&A Session Summary Question: Details on the strategic partnership with Caocao Mobility - Management stated that the partnership aims to leverage Cango's extensive network and vehicle inventory to pursue business opportunities in lower-tier markets [23] Question: Plans for dividends distribution - Management confirmed a commitment to rewarding shareholders with dividends while maintaining a prudent approach based on strategic plans and cash flow [23] Question: Differences in Cango U-Car before and after integration - Before integration, Cango U-Car was a stand-alone platform for used car transactions; after integration, it has evolved into a comprehensive marketplace offering various services [23] Question: Insights on the 2023 automotive market and outlook for 2024 - Management noted a sluggish start in 2023 but anticipated acceleration towards the end of the year, with NEV penetration expected to rise [26] Question: Progress on the used car export business and potential partnerships - Management highlighted the launch of AutoCango, which connects domestic dealers with foreign buyers, and expressed openness to partnerships that align with profitability and long-term growth potential [27]

SHANGHAI, March 11, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the fourth quarter and full year of 2023. Fourth Quarter 2023 Financial and Operational Highlights Total revenues were RMB130.2 million (US$18.3 million), compared with RMB487.1 million in the same period of 2022. The total outstanding balance of financing transactions the Company facilitated was RMB10.0 ...

SHANGHAI, March 5, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced that it plans to release its fourth quarter and full year 2023 financial results after the market closes on Monday, March 11, 2024. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/. Cango's management will hold a conference call on Monday, March 11, 2024 at 9:00 P.M. Eastern Time ...

Cango Inc. (NYSE:CANG) Q3 2023 Results Conference Call November 27, 2023 8:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Operator Good morning and good evening, everyone. Welcome to Cango Inc's Third Quarter 2023 Earnings Conference Call. [Operator Instructions] This call is also being broadcast live on the company's IR website. Joining us today are Mr. Jiayuan Lin, Chief Executive Officer; and Mr. Yongyi Zhang, Chief Financial Officer of the company. [Operator Instructions] Before we b ...

Cango Inc. (NYSE:CANG) Q2 2023 Results Conference Call August 23, 2023 9:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Conference Call Participants Sophia Xu - Goldman Sachs Operator Good morning, and good evening, everyone. Welcome to Cango, Inc.'s Second Quarter 2023 Earnings Conference Call. [Operator Instructions] This call is also being broadcast live on the company's IR website. Joining us today are Mr. Jiayuan Lin, Chief Executive Officer; and Mr. Yongyi Zhang, Chief Financial Of ...

Cango Inc. (NYSE:CANG) Q1 2023 Earnings Conference Call June 8, 2023 9:00 PM ET Company Participants Jiayuan Lin - CEO Yongyi Zhang - CFO Conference Call Participants Shelley Wang - Morgan Stanley Operator Good morning, and good evening, everyone. Welcome to Cango, Inc.'s First Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. The call is also being broadcast live on the company's IR website. Joining us today are Mr. Jiayuan Lin, Chief Executive Officer; and Mr. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...

Cango Inc. (NYSE:CANG) Q4 2022 Results Conference Call March 9, 2023 8:00 PM ET Company Participants Jiayuan Lin - CEO Michael Zhang - CFO Conference Call Participants Shelley Wang - Morgan Stanley Operator Good morning, and good evening, everyone. Welcome to Cango, Inc.'s Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] This call is also being broadcast live on the company's IR website. Joining us today are Mr. Jiayuan Lin, Chief Executive Officer; and Mr. Michael Zhang, ...