CANG
$4.33
Cango Inc ADR
($.17)
(3.78%)
Earnings Details
2nd Quarter June 2021
Thursday, August 19, 2021 5:30:00 PM
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Summary

Cango Provides Revenue Guidance

Cango Inc ADR (CANG) reported 2nd Quarter June 2021 earnings of $0.58 per share on revenue of $146.6 million. The consensus earnings estimate was $0.25 per share. Revenue grew 278.0% on a year-over-year basis.

The company said it expects third quarter revenue of $108.0 million to $115.7 million. There currently are no revenue estimates for the quarter ending September 30, 2021.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. Founded in 2010 by a group of pioneers in China's automotive finance industry, the Company is headquartered in Shanghai and engages car buyers through a nationwide dealer network. The Company's services primarily consist of automotive financing facilitation, automotive transaction facilitation, and after-market services facilitation. By utilizing its competitive advantages in technology, data insights, and cloud-based infrastructure, Cango is able to connect its platform participants while bringing them a premium user experience. Cango's platform model puts it in a unique position to add value for its platform participants and business partners as the automotive and mobility markets in China continue to grow and evolve.

Results
Reported Earnings
$0.58
Earnings Whisper
-
Consensus Estimate
$0.25
Reported Revenue
$146.6 Mil
Revenue Estimate
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Cango Inc. Reports Second Quarter 2021 Unaudited Financial Results

SHANGHAI, Aug. 19, 2021 /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 second quarter of 2021.

Second Quarter 2021 Financial and Operational Highlights

  • Total revenues were RMB946.7 million (US$146.6 million), a 245.5% increase from RMB274.1 million in the same period of 2020, meeting the Company's previous guidance range. The increase was mainly driven by the increased amounts of both financing transactions the Company facilitated and car trading transactions in the second quarter of 2021.
  • Car trading transactions revenues were RMB522.5 million (US$80.9 million), or 55.2% of total revenues in the second quarter of 2021.
  • Automotive financing facilitation revenues were RMB303.3 million (US$47.0 million), a 111.2% increase from RMB143.6 million in the same period of 2020.
  • After-market services facilitation revenues were RMB51.9 million (US$8.0 million), compared to RMB52.5 million in the same period of 2020.
  • The amount of financing transactions the Company facilitated in the second quarter of 2021 was RMB7,789.7 million (US$1,206.5 million). The total outstanding balance of financing transactions the Company facilitated was RMB48,637.8 million (US$7,533.0 million) as of June 30, 2021.
  • M1+ and M3+ overdue ratios for all financing transactions that remained outstanding and were facilitated by the Company were 1.35% and 0.69 %, respectively, as of June 30, 2021, compared to 1.23% and 0.54%, respectively, as of March 31, 2021.
  • The number of dealers covered by the Company was 47,740 as of June 30, 2021, compared to 47,017 as of March 31, 2021.

Mr. Jiayuan Lin, Chief Executive Officer of Cango, commented, "We entered the second quarter with a focus on navigating major challenges primarily associated with the global chip shortage. We are pleased with our second quarter performance, and thanks to solid progress in our car trading transactions business, we delivered a 245.5% year-over-year growth in total revenues, meeting our previous guidance range. The ongoing chip supply shortage, which has slowed down production and consumption in the entire auto industry, impacted our business to a certain extent and we expect the impact to linger in the second half of 2021. However, we remain dedicated to advancing key elements of our strategy and believe our solid business fundamentals give us considerable flexibility to navigate uncertain and stressful times. In late May, we launched our B2B service platform 'Cango Haoche' integrating car information with transactions, logistics, finance and insurance to directly address pain points for car dealers in the lower-tier markets. In addition, we introduced an updated service account of 'Cango Cheshenghuo' on WeChat also in the second quarter, offering consumers a one-stop service covering purchases, usage and maintenance of cars. With 'Cango Haoche' and 'Cango Cheshenghuo,' we have empowered B-end car dealers and served C-end car owners, further enhancing the bond between dealers, users and us."

"Looking ahead, we expect the impact of the supply chain-related challenges in the auto market to remain unresolved in the near term. However, we will closely monitor the situation and adapt accordingly, while staying true to our original goals and upholding our commitment to facilitating easy and enjoyable car purchase experiences for our consumers," Mr. Lin concluded.

Mr. Yongyi Zhang, Chief Financial Officer of Cango, stated, "Our second quarter financial performance was in line with our expectations. Total revenues came in at RMB946.7 million, more than tripling from a year ago. We also recorded a net income of RMB557.7 million in the second quarter. While uncertainty stemming from global chip supply chain disruptions are ongoing, we remain committed to improving our operating efficiency while continually investing in the business to deliver more value to our dealers, partners and users. We fully believe that this will enable us to continue creating value for our shareholders well into the future."

Second Quarter 2021 Financial Results

REVENUES

Total revenues in the second quarter of 2021 increased by 245.5% to RMB946.7 million (US$146.6 million) from RMB274.1 million in the same period of 2020. Revenues from car trading transactions in the second quarter of 2021 were RMB522.5 million (US$80.9 million), continuing to serve as an important revenue contributor. Revenues from automotive financing facilitation and after-market services facilitation in the second quarter of 2021 were RMB303.3 million (US$47.0 million) and RMB51.9 million (US$8.0 million), respectively.

OPERATING COST AND EXPENSES

Total operating cost and expenses in the second quarter of 2021 were RMB933.5 million (US$144.6 million) compared to RMB207.4 million in the same period of 2020. This was mainly due to the related costs incurred by car trading transactions business. Primarily as a result of the increase in revenues from car trading transactions, sales and marketing expenses, general and administrative expenses and research and development expenses each decreased as a percentage of total revenues in the second quarter of 2021, compared to the same period of 2020.

  • Cost of revenue in the second quarter of 2021 increased to RMB697.8 million (US$108.1 million) from RMB102.8 million in the same period of 2020. As a percentage of total revenues, cost of revenue in the second quarter of 2021 was 73.7% compared to 37.5% in the same period of 2020, and the change was primarily due to an increase in the amount of car trading transactions. For automotive financing facilitation and after-market services facilitation, cost of revenue as a percentage of relevant revenues was around 41.6% in the second quarter of 2021.
  • Sales and marketing expenses in the second quarter of 2021 were RMB60.9 million (US$9.4 million) compared to RMB42.4 million in the same period of 2020. As a percentage of total revenues, sales and marketing expenses in the second quarter of 2021 was 6.4% compared to 15.5% in the same period of 2020.
  • General and administrative expenses in the second quarter of 2021 were RMB64.7 million (US$10.0 million) compared to RMB66.0 million in the same period of 2020. As a percentage of total revenues, general and administrative expenses in the second quarter of 2021 was 6.8% compared to 24.1% in the same period of 2020.
  • Research and development expenses in the second quarter of 2021 were RMB15.6 million (US$2.4 million) compared to RMB12.9 million in the same period of 2020. As a percentage of total revenues, research and development expenses in the second quarter of 2021 was 1.7% compared to 4.7% in the same period of 2020.
  • Net loss on risk assurance liabilities in the second quarter of 2021 was RMB35.9 million (US$5.6 million) compared to a net gain of RMB42.9 million in the same period of 2020.

INCOME FROM OPERATIONS

Income from operations in the second quarter of 2021 was RMB13.2 million (US$2.1 million), compared to RMB66.7 million in the same period of 2020.

FAIR VALUE CHANGE OF EQUITY INVESTMENT

Fair value change of equity investment in the second quarter of 2021 was a gain of RMB603.4 million (US$93.5 million) compared to nil in the same period of 2020. The gain in the second quarter of 2021 is mainly due to the investment in Li Auto. As of June 30, 2021, Cango held 8,000,000 American Depositary Shares of Li Auto. Each American Depositary Share of Li Auto represents two Class A ordinary shares of Li Auto.

NET INCOME

Primarily due to the fair value change of the Company's investment in Li Auto, net income in the second quarter of 2021 was RMB557.7 million (US$86.4 million). Non-GAAP adjusted net income in the second quarter of 2021 was RMB578.3 million (US$89.6 million). Non-GAAP adjusted net income excludes the impact of share-based compensation expenses. For further information, see "Use of Non-GAAP Financial Measure."

NET INCOME PER ADS

Basic and diluted net income per American Depositary Share (ADS) in the second quarter of 2021 were RMB3.85 (US$0.60) and RMB3.75 (US$0.58). Non-GAAP adjusted basic and diluted net income per ADS in the second quarter of 2021 were RMB3.99 (US$0.62) and RMB3.89 (US$0.60). Each ADS represents two Class A ordinary shares of the Company.

BALANCE SHEET

As of June 30, 2021, the Company had cash and cash equivalents of RMB1,498.9 million (US$232.2 million), compared to RMB1,631.0 million as of March 31, 2021.

As of June 30, 2021, the Company had short-term investments of RMB3,127.2 million (US$484.3 million), compared to RMB2,627.6 million as of March 31, 2021.

Business Outlook

For the third quarter of 2021, the Company expects total revenues to be between RMB700 million and RMB750 million. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

The Company's investment in Li Auto and the change in fair value of investment due to the price volatility of the stock may have a significant impact on the Company's third quarter of 2021 financial results.

Share Repurchase Program

Pursuant to the share repurchase program announced on March 2, 2021, we had repurchased 5,397,207 American depositary shares ("ADSs") with cash in the aggregate amount of approximately US$48.4 million up to July 31, 2021.

Conference Call Information

The Company's management will hold a conference call on Thursday, August 19, 2021, at 9:00 P.M. Eastern Time or Friday, August 20, 2021, at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:

+1-412-902-4272

United States Toll Free:

+1-888-346-8982

Mainland China Toll Free:

4001-201-203

Hong Kong, China Toll Free:

800-905-945

Conference ID:

Cango Inc.

The replay will be accessible through August 26, 2021, by dialing the following numbers:

International:                         

+1-412-317-0088

United States Toll Free:

+1-877-344-7529

Access Code:

10159690

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cangoonline.com/.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. Founded in 2010 by a group of pioneers in China's automotive finance industry, the Company is headquartered in Shanghai and engages car buyers through a nationwide dealer network. The Company's services primarily consist of automotive financing facilitation, car trading transactions, and after-market services facilitation. By utilizing its competitive advantages in technology, data insights, and cloud-based infrastructure, Cango is able to connect its platform participants while bringing them a premium user experience. Cango's platform model puts it in a unique position to add value for its platform participants and business partners as the automotive and mobility markets in China continue to grow and evolve. For more information, please visit: www.cangoonline.com.

Definition of Overdue Ratios

The Company defines "M1+ overdue ratio" as (i) exposure at risk relating to financing transactions for which any installment payment is 30 to 179 calendar days past due as of a specified date, divided by (ii) exposure at risk relating to all financing transactions which remain outstanding as of such date, excluding amounts of outstanding principal that are 180 calendar days or more past due.

The Company defines "M3+ overdue ratio" as (i) exposure at risk relating to financing transactions for which any installment payment is 90 to 179 calendar days past due as of a specified date, divided by (ii) exposure at risk relating to all financing transactions which remain outstanding as of such date, excluding amounts of outstanding principal that are 180 calendar days or more past due.

Use of Non-GAAP Financial Measure

In evaluating the business, the Company considers and uses Non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines Non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company's operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors' assessment of its operating performance.

Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using Non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company's operations. Share-based compensation expenses have been and may continue to be incurred in the business and are not reflected in the presentation of Non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of Cango's non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.4566 to US$1.00, the noon buying rate in effect on June 30, 2021, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the "Business Outlook" section and quotations from management in this announcement, contain forward-looking statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Cango's goal and strategies; Cango's expansion plans; Cango's future business development, financial condition and results of operations; Cango's expectations regarding demand for, and market acceptance of, its solutions and services; Cango's expectations regarding keeping and strengthening its relationships with dealers, financial institutions, car buyers and other platform participants; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 
Twitter: https://twitter.com/Cango_Group

Emilie Wu
The Piacente Group, Inc.
Tel: +86 21 6039 8363
Email: ir@cangoonline.com

 

CANGO INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET
(Amounts in Renminbi ("RMB") and US dollar ("US$"), except for number of shares and per share data)





 As of December 31,
2020 


As of June 30,
2021





 RMB 


 RMB 

 US$ 









ASSETS:








Current assets:








Cash and cash equivalents




1,426,899,576


1,498,947,545

232,157,412

Restricted cash - current




9,693,008


34,767,022

5,384,726

Short-term investments




4,342,356,612


3,127,171,118

484,337,131

Accounts receivable, net




141,594,170


157,050,941

24,324,093

Finance lease receivables - current, net




2,035,397,525


1,717,714,853

266,040,153

Short-term consumer financing receivables, net




23,168


-

-

Financing receivables, net




20,105,893


43,575,286

6,748,952

Short-term contract asset




364,618,635


714,635,512

110,682,946

Prepayments and other current assets 




558,360,959


887,766,346

137,497,498

Total current assets




8,899,049,546


8,181,628,623

1,267,172,911









Non-current assets:








Restricted cash - non-current




878,299,140


845,590,108

130,965,231

Goodwill




145,063,857


145,063,857

22,467,530

Property and equipment, net




10,311,971


21,032,036

3,257,448

Intangible assets




44,887,871


44,683,992

6,920,669

Long-term contract asset




281,374,110


474,407,237

73,476,325

Deferred tax assets




170,951,082


374,774,207

58,045,133

Finance lease receivables - non-current, net




1,454,499,864


1,186,837,807

183,817,769

Other non-current assets




261,495,158


427,327,797

66,184,648

Total non-current assets




3,246,883,053


3,519,717,041

545,134,753

TOTAL ASSETS




12,145,932,599


11,701,345,664

1,812,307,664









LIABILITIES AND SHAREHOLDERS' EQUITY








Current liabilities:








Short-term debts




355,816,940


779,104,385

120,667,903

Long-term debts—current




1,228,783,730


1,122,603,494

173,869,141

Accrued expenses and other current liabilities




324,734,202


352,398,112

54,579,517

Risk assurance liabilities 




460,829,299


642,664,973

99,536,129

Income tax payable




87,132,455


388,784,530

60,215,056

Total current liabilities




2,457,296,626


3,285,555,494

508,867,746









Non-current liabilities:








Long-term debts




977,791,191


836,810,348

129,605,419

Deferred tax liability




330,765,029


171,705,298

26,593,764

Other non-current liabilities




4,870,616


2,479,512

384,028

Total non-current liabilities




1,313,426,836


1,010,995,158

156,583,211

Total liabilities




3,770,723,462


4,296,550,652

665,450,957

















Shareholders' equity








Ordinary shares




204,260


204,260

31,636

Treasury shares




(56,419,225)


(356,910,505)

(55,278,398)

Additional paid-in capital




4,591,455,557


4,624,962,530

716,315,480

Accumulated other comprehensive income




(115,386,427)


(147,245,016)

(22,805,349)

Retained earnings




3,955,354,972


3,283,783,743

508,593,338

Total Cango Inc.'s  equity




8,375,209,137


7,404,795,012

1,146,856,707

Total shareholders' equity




8,375,209,137


7,404,795,012

1,146,856,707

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY




12,145,932,599


11,701,345,664

1,812,307,664

 

 

CANGO INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
(Amounts in Renminbi ("RMB") and US dollar ("US$"), except for number of shares and per share data)





 Three months ended June 30


 Six months ended June 30





2020


2021


2020


2021





 RMB 


 RMB 

 US$ 


 RMB 


 RMB 

 US$ 














Revenues




274,054,751


946,746,211

146,632,316


520,052,725


2,070,532,922

320,684,714

Loan facilitation income and other related income 




143,604,125


303,346,685

46,982,419


263,332,523


715,037,501

110,745,207

Leasing income




69,275,783


64,708,395

10,022,054


143,557,538


137,836,071

21,348,089

After-market services income 




52,472,658


51,866,024

8,033,024


101,528,861


114,395,515

17,717,609

Automobile trading income




6,228,508


522,544,976

80,931,911


7,601,416


1,094,109,857

169,456,038

Others




2,473,677


4,280,131

662,908


4,032,387


9,153,978

1,417,771

Operating cost and expenses:













Cost of revenue




102,817,046


697,786,112

108,073,307


193,414,759


1,466,833,661

227,183,605

Sales and marketing




42,437,952


60,885,719

9,429,997


88,212,181


118,729,278

18,388,824

General and administrative




66,040,192


64,658,358

10,014,304


123,451,858


126,048,975

19,522,500

Research and development




12,901,613


15,638,883

2,422,155


25,458,298


29,233,130

4,527,635

Net (gain) loss on risk assurance liabilities




(42,928,191)


35,903,834

5,560,796


33,957,484


57,642,765

8,927,727

Provision for credit losses




26,119,771


58,636,181

9,081,588


70,214,542


99,268,133

15,374,676

Total operation cost and expense




207,388,383


933,509,087

144,582,147


534,709,122


1,897,755,942

293,924,967














Income (Loss) from operations




66,666,368


13,237,124

2,050,169


(14,656,397)


172,776,980

26,759,747

Interest and investment income




21,675,128


4,128,041

639,352


50,808,295


22,369,008

3,464,518

Fair value change of equity investment




-


603,413,645

93,456,873


-


156,488,012

24,236,907

Interest expense




(369,637)


(234,274)

(36,284)


(1,736,923)


(813,242)

(125,955)

Foreign exchange gain (loss), net




621,774


(938,526)

(145,359)


(3,439,945)


(735,132)

(113,857)

Other income




7,317,072


7,568,769

1,172,253


25,790,703


11,176,345

1,730,995

Other expenses




(527,390)


(193,817)

(30,018)


(581,495)


(6,479,822)

(1,003,597)

Net income before income taxes




95,383,315


626,980,962

97,106,986


56,184,238


354,782,149

54,948,758

Income tax expenses 




(25,152,250)


(69,243,099)

(10,724,390)


(20,639,459)


(70,915,821)

(10,983,462)

Net income 




70,231,065


557,737,863

86,382,596


35,544,779


283,866,328

43,965,296

Less: Net income attributable to non-controlling interests




-


-

-


3,646,196


-

-














Net income attributable to Cango Inc.'s shareholders




70,231,065


557,737,863

86,382,596


31,898,583


283,866,328

43,965,296

Earnings per ADS attributable to ordinary shareholders:













Basic




0.47


3.85

0.60


0.21


1.93

0.30

Diluted




0.47


3.75

0.58


0.21


1.89

0.29

Weighted average ADS used to compute earnings per ADS attributable to ordinary shareholders: 













Basic




150,605,540


144,829,122

144,829,122


150,789,465


147,012,155

147,012,155

Diluted




150,819,440


148,579,948

148,579,948


151,899,153


150,005,282

150,005,282





















































Other comprehensive (loss) income, net of tax













Foreign currency translation adjustment




(5,444,800)


(42,140,854)

(6,526,787)


23,229,550


(31,858,589)

(4,934,267)














Total comprehensive income




64,786,265


515,597,009

79,855,809


58,774,329


252,007,739

39,031,029

Total comprehensive income attributable to Cango Inc.'s shareholders




64,786,265


515,597,009

79,855,809


55,128,133


252,007,739

39,031,029

 

 

CANGO INC.
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(Amounts in Renminbi ("RMB") and US dollar ("US$"), except for number of shares and per share data)



 Three months ended June 30


 Six months ended June 30



2020


2021


2020


2021



 (Unaudited) 


 (Unaudited) 

 (Unaudited) 


 (Unaudited) 


 (Unaudited) 

 (Unaudited) 



 RMB 


 RMB 

 US$ 


 RMB 


 RMB 

 US$ 












Net income 


70,231,065


557,737,863

86,382,596


35,544,779


283,866,328

43,965,296












Add: Share-based compensation expenses


22,096,880


20,522,138

3,178,474


45,415,178


40,433,303

6,262,321

  Cost of revenue


905,973


783,983

121,424


1,862,024


1,454,657

225,298

  Sales and marketing


4,706,635


4,004,166

620,166


9,673,432


7,521,055

1,164,863

  General and administrative


15,335,232


14,987,159

2,321,215


31,518,128


29,678,982

4,596,689

  Research and development


1,149,040


746,830

115,669


2,361,594


1,778,609

275,471












Non-GAAP adjusted net income 


92,327,945


578,260,001

89,561,070


80,959,957


324,299,631

50,227,617

Less: Net income attributable to non-controlling interests


-


-

-


3,646,196


-

-

Net income attributable to Cango Inc.'s shareholders


92,327,945


578,260,001

89,561,070


77,313,761


324,299,631

50,227,617























Non-GAAP adjusted net income per ADS-basic


0.61


3.99

0.62


0.51


2.21

0.34

Non-GAAP adjusted net income per ADS-diluted


0.61


3.89

0.60


0.51


2.16

0.33












Weighted average ADS outstanding—basic


150,605,540


144,829,122

144,829,122


150,789,465


147,012,155

147,012,155

Weighted average ADS outstanding—diluted


150,819,440


148,579,948

148,579,948


151,899,153


150,005,282

150,005,282

 

 

 

Cision View original content:https://www.prnewswire.com/news-releases/cango-inc-reports-second-quarter-2021-unaudited-financial-results-301358959.html

SOURCE Cango Inc.