PR Newswire
HONG KONG, June 2, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that the Company's co-founders, Mr. Xiaojun Zhang and Mr. Jiayuan Lin (collectively, the "Founders") and their holding companies (the "Sellers") have entered into a securities purchase agreement (the "Agreement") with Enduring Wealth Capital Limited, a company established in the British Virgin Islands ("EWCL"), pursuant to which the Sellers will sell an aggregate of 10,000,000 Class B ordinary shares of the Company to EWCL for a total purchase price of US$70 million (of which US$15 million will be payable only upon the satisfaction of certain conditions) (the "Resale Transaction"). The Company is a party to the Agreement and agreed to undertake certain corporate actions in connection with the Resale Transaction.
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