Cango Inc. Class A Ordinary Shares Begin Trading on NYSE

DALLAS, Nov. 17, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that its Class A ordinary shares will begin trading on Monday, November 17, 2025, on the New York Stock Exchange ("NYSE") after the termination of the Company's  American Depositary Receipt ("ADR") program. Holders of the Company's American depositary shares ("ADS") received two Class A ordinary shares for each ADS they held before termination of the ADR program, which had the similar effect of a 2-for-1 share split. NYSE authorized the direct listing of the Class A ordinary shares on November 14, 2025. The direct listing of Class A ordinary shares on NYSE allowed U.S. investors to hold shares in the Company directly, rather than indirectly through the depositary bank for the ADR program. This change eliminated depositary fees previously borne by ADS holders. The Company believes the direct listing may also enhance its institutional visibility, and align with its strategic focus, potentially broadening its investor base over time.

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