Research analysts who have asked questions during Cango earnings calls.
EZ
Emerson Zhao
Goldman Sachs Group, Inc.
6 questions for CANG
PW
Pingyue Wu
CITIC Securities
4 questions for CANG
DM
Daniel Mullane
H.C. Wainwright
2 questions for CANG
Also covers: ANTA
Emerson
Goldman Sachs
2 questions for CANG
JC
Joey Chai
Guojin Securities
2 questions for CANG
KD
Kevin Dede
H.C. Wainwright & Co.
2 questions for CANG
Also covers: ARBK, BTBT, CAN +13 more
MD
Michael Donovan
H.C. Wainwright & Co.
2 questions for CANG
Also covers: APLD, BITF, BTCY +4 more
WG
William Gregozeski
Greenridge Global LLC
2 questions for CANG
Also covers: BRFH, CLPS, CNF +2 more
JC
Julie Chi
Guo Jing Securities
1 question for CANG
Shaojie Chi
Guosen Securities
1 question for CANG
YJ
Ya Jiang
Citic Securities
1 question for CANG
Also covers: LKNCY
Recent press releases and 8-K filings for CANG.
Cango Inc. announces December 2025 Bitcoin production and new investment
CANG
New Projects/Investments
Revenue Acceleration/Inflection
- Cango Inc. produced 569.0 Bitcoin in December 2025, bringing its total Bitcoin holdings to 7,528.3 BTC as of month-end.
- The company maintained a deployed hashrate of 50 EH/s and an average operating hashrate of 43.36 EH/s for December 2025.
- A major shareholder committed a US$10.5 million investment, expected to close in January 2026, which will drive greater Bitcoin mining efficiency and accelerate the development of Cango's energy and AI compute platform.
- Cango Inc. is a Bitcoin mining company with global operations that is also developing integrated energy solutions and distributed AI computing.
4 days ago
Cango Inc. secures US$10.5 million investment from EWCL
CANG
New Projects/Investments
- Cango Inc. announced a US$10.5 million investment from Enduring Wealth Capital Limited (EWCL) through the subscription of 7 million Class B ordinary shares at US$1.50 per share.
- Upon closing, EWCL's shareholding is projected to increase from approximately 2.81% to 4.69% of total outstanding shares, with its voting power rising from approximately 36.68% to 49.61%.
- The capital will be used to accelerate Cango's core growth initiatives, including strengthening Bitcoin mining operations and developing its strategic pillars in energy and AI compute.
- The transaction is anticipated to close in January 2026.
Dec 30, 2025, 11:00 AM
Cango Inc. Secures US$10.5 Million Investment from EWCL
CANG
New Projects/Investments
- Cango Inc. secured a US$10.5 million investment from Enduring Wealth Capital Limited (EWCL).
- EWCL will subscribe for 7 million Class B ordinary shares in cash at US$1.50 per share.
- This capital is intended to accelerate Cango's core growth initiatives, including strengthening Bitcoin mining operations and developing energy and AI compute platforms.
- Upon closing, EWCL's shareholding is expected to increase from approximately 2.81% to 4.69% of total outstanding shares, and its voting power is expected to rise from approximately 36.68% to 49.61%.
- The transaction is expected to close in January 2026.
Dec 30, 2025, 11:00 AM
Cango Inc. Announces New Equity Investment from EWCL
CANG
New Projects/Investments
- Cango Inc. announced that Enduring Wealth Capital Limited (EWCL) will make a new equity investment by subscribing for additional Class B ordinary shares.
- EWCL will purchase 7,000,000 Class B ordinary shares for an aggregate price of US$10,500,000, implying a per-share price of US$1.5.
- Upon closing, EWCL's shareholding in Cango Inc. is expected to increase from approximately 2.81% to 4.69% of total outstanding shares, and its voting power is expected to rise from approximately 36.68% to 49.61%.
- The transaction is anticipated to close in January 2026, subject to customary closing conditions, including the requisite approval by the New York Stock Exchange.
Dec 29, 2025, 11:34 AM
Cango Inc. Announces New Equity Investment from EWCL
CANG
New Projects/Investments
- Enduring Wealth Capital Limited (EWCL), the sole shareholder of Cango Inc.'s Class B ordinary shares, will increase its investment by subscribing for an additional 7,000,000 Class B ordinary shares.
- The aggregate purchase price for these shares is US$10,500,000, implying a per-share price of US$1.5.
- Upon the closing of this proposed investment, EWCL's total voting power is expected to increase from approximately 36.68% to 49.61%.
- The transaction is anticipated to close in January 2026, pending customary closing conditions, including approval from the New York Stock Exchange.
Dec 29, 2025, 11:00 AM
Cango Receives Buy Rating and US$4.00 Target Price from Greenridge Capital
CANG
New Projects/Investments
Guidance Update
- Greenridge Capital initiated coverage on Cango Inc. (NYSE: CANG) with a buy rating and a US$4.00 target price, noting the company is "mispriced and overlooked" given its market-leading Bitcoin mining status and asset-light model for high-performance computing (HPC).
- Cango's significant assets include over US$600 million in BTC held under a strict HODL strategy, a 50 EH/s globally distributed mining portfolio, and a 50MW data center in Georgia acquired in Q3 2025.
- The company is strategically expanding into flexible energy and data infrastructure with an "Energy + HPC" plan to diversify revenue and enhance profitability, supported by pilot projects in Oman and Indonesia.
- The US$4.00 price target is based on a blended valuation using a 7x EV/Adjusted EBITDA multiple on a 2026 adjusted EBITDA estimate of US$335.4 million and a 15x P/E multiple on a 2026 diluted EPS estimate of US$0.34.
Dec 24, 2025, 11:00 AM
Cango Inc. Announces November 2025 Bitcoin Production and Mining Operations Update
CANG
New Projects/Investments
Delisting/Listing Issues
- Cango Inc. produced 546.7 Bitcoin in November 2025, bringing its total Bitcoin holdings to 6,959.3 BTC as of month-end.
- The company's deployed hashrate remained at 50 EH/s, with an average operating hashrate of 44.38 EH/s for November 2025.
- Cango completed its transition to the New York Stock Exchange, enabling direct share ownership.
- The CEO highlighted the one-year milestone of their strategic transformation, aiming to evolve into a global, distributed AI compute network.
Dec 5, 2025, 11:00 AM
Cango Inc. Reports Strong Third Quarter 2025 Financial Results and Operational Growth
CANG
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Cango Inc. reported total revenues of US$224.6 million for the third quarter of 2025, a 60.6% increase compared to the second quarter of 2025, with US$220.9 million generated from its bitcoin mining business.
- For Q3 2025, the company achieved operating income of US$43.5 million, net income of US$37.3 million, and Adjusted EBITDA of US$80.1 million.
- Operationally, Cango mined 1,930.8 BTC in Q3 2025, averaging 21.0 BTC per day, which represents a 37.5% increase in total output compared to the second quarter of 2025.
- Cango is advancing its long-term strategy to build a global, distributed AI compute network powered by green energy, with energy projects in Oman and Indonesia currently underway.
Dec 2, 2025, 12:00 PM
Cango Inc. Reports Q3 2025 Financial Results
CANG
Earnings
Revenue Acceleration/Inflection
Delisting/Listing Issues
- Cango Inc. reported total revenues of US$224.6 million for the third quarter of 2025, a 60.6% increase compared to the second quarter of 2025, with US$220.9 million generated from its bitcoin mining business.
- For Q3 2025, the company achieved operating income of US$43.5 million, net income of US$37.3 million, and Adjusted EBITDA of US$80.1 million.
- Cango mined 1,930.8 BTC during the third quarter, averaging 21.0 BTC per day, which represents a 37.5% increase in total output compared to the second quarter of 2025, with an all-in cost of US$99,383 per BTC.
- The company completed the termination of its ADR program and transitioned to a direct listing on the NYSE to optimize its capital structure and enhance corporate transparency.
Dec 2, 2025, 9:01 AM
CANG Announces Q3 2025 Results and Strategic Developments
CANG
Earnings
Board Change
New Projects/Investments
- Cango reported total revenue of $224.6 million and Adjusted EBITDA of $80.1 million for Q3 2025, achieving a net income of $37.3 million.
- The company's BTC mining business generated $220.9 million in revenue, mined 1,930.8 BTC during the quarter, and held a BTC treasury of 5,810.1 BTC valued at $662.3 million as of September 30, 2025.
- As of September 30, 2025, Cango operated 50 EH/s of deployed hashrate globally.
- Key achievements include a leadership restructuring in July 2025, the acquisition of a 50 MW mining facility in August 2025, and the Board's approval in October 2025 for a direct listing of shares on the NYSE, ending its ADR program.
- Cango is also strategically transitioning from BTC mining to building a global distributed AI computing infrastructure network, with pilot projects underway for its AI business and energy projects expected online within 12-24 months.
Dec 2, 2025, 1:00 AM
Quarterly earnings call transcripts for Cango.
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