Emerson Zhao

Michael Donovan

Emerson

Emerson Zou

Jiang

- Cango Inc. announced the **termination of its American Depository Receipt (ADR) program**, which is expected to conclude after market closes on **Friday, November 14, 2025**.  **[1725123_0001104659-25-099511_tm2528612d1_ex99-1.htm:0]** 
- Following the termination, the Company's Class A ordinary shares are expected to be **directly listed and commence trading on the New York Stock Exchange (NYSE)** under the existing symbol **"CANG"** when the market opens on **Monday, November 17, 2025**.  **[1725123_0001104659-25-099511_tm2528612d1_ex99-1.htm:0]** 
- Upon the mandatory cancellation of ADSs, each holder of one ADS will receive **two Class A ordinary shares** of the Company.  **[1725123_0001104659-25-099511_tm2528612d1_ex99-1.htm:0]** 
- The board of directors determined this move is in the best interest of the Company and its shareholders, aiming to allow U.S. investors to exercise rights directly, eliminate depositary fees, and enhance institutional visibility.  **[1725123_0001104659-25-099511_tm2528612d1_ex99-1.htm:0]**

Cango Inc. to Terminate ADR Program and Directly List Class A Ordinary Shares on NYSE

- Cango Inc. announced the **termination of its American Depository Receipt (ADR) program**, effective after market close on **November 14, 2025**.  **[1725123_20251015CN98391:0]** 
- Upon termination, ADSs will be mandatorily cancelled, and holders will receive **two Class A ordinary shares** for each ADS, with the Class A shares expected to commence trading directly on the NYSE under the existing symbol "CANG" on **November 17, 2025**.  **[1725123_20251015CN98391:0]** 
- The company's board determined this move is in the best interest of shareholders, aiming to allow U.S. investors to exercise rights directly, eliminate depositary fees, and potentially **broaden its investor base**.  **[1725123_20251015CN98391:0]**

Cango Inc. to Terminate ADR Program and List Class A Ordinary Shares Directly on NYSE

- **Cango Inc.** produced **616.6 Bitcoin** in September 2025, a decrease from **663.7 Bitcoin** in August 2025.  **[1725123_20251003CN89883:0]** 
- As of September 2025 month-end, the company held a total of **5,810.0 Bitcoin**, an increase from **5,193.4 Bitcoin** at the end of August 2025.  **[1725123_20251003CN89883:0]** 
- The deployed hashrate remained constant at **50 EH/s** for both September and August 2025, while the average operating hashrate increased to **44.85 EH/s** in September 2025 from **43.74 EH/s** in August 2025.  **[1725123_20251003CN89883:0]** 
- CEO Paul Yu noted the growth in operational hashrate to **89.7%** and the increase in Bitcoin treasury, confirming the company is on track to utilize its full **50 EH/s** potential and plans to expand into high-performance computing (HPC).  **[1725123_20251003CN89883:0]**

Cango announces September 2025 Bitcoin production and mining operations update

- Cango Inc. announced its Bitcoin production and mining operations update for **August 2025**, reporting **663.7 Bitcoins produced** and a total of **5,193.4 Bitcoins held** as of month-end.  **[1725123_20250902CN63192:0]** 
- The company's deployed hashrate remained at **50 EH/s**, with the average operating hashrate increasing by **6.9% month-over-month** to **43.74 EH/s** in August 2025.  **[1725123_20250902CN63192:0]** 
- CEO Paul Yu noted that the Bitcoin treasury surpassed the **5,000 milestone** and highlighted ongoing efforts to optimize operations, including the recent acquisition of a **50 MW Bitcoin mining facility** in Georgia.  **[1725123_20250902CN63192:0]** 
- Cango Inc. primarily engages in the Bitcoin mining business, having entered the crypto asset space in **November 2024**, and also operates an **online international used car export business**.  **[1725123_20250902CN63192:0]**

Cango (CANG)