Cango receives an additional $10.5 million in Class B shares from shareholders

PANews, December 29—According to an announcement from Cango Inc., major shareholder Enduring Wealth Capital Limited (EWCL) will subscribe for 7 million Class B ordinary shares for $10.5 million in cash, with each share carrying 20 voting rights. Upon completion of the transaction, EWCL's shareholding will increase from 2.81% to approximately 4.69%, and its voting rights will rise from 36.68% to 49.61%. The transaction is expected to be completed in January 2026, pending approval from the New York Stock Exchange.