Cango Inc - ADR (N:CANG)
Business Focus: Internet Services
| Sector: Technology | Industry: Internet Services |
| Company Contact | |
| Address: | 8F, New Bund Oriental Plaza Ii, 556 West Haiyang Road, Pudong SHANGHAI SHA 200127 |
| Tel: | 86-21-31835088 |
| Website: | https://www.cangoonline.com |
| IR: | See website |
| Key People | ||
| Xiaojun Zhang Chairman of the Board, Co-Founder | Jiayuan Lin Chief Executive Officer, Co-Founder, Director | Yongyi Zhang Chief Financial Officer, Director |
| Business Overview |
| Cango Inc. provides an automotive transaction service platform, which connects dealers, financial institutions, car buyers and other industry participants. The Company's services primarily consist of automotive financing facilitation, automotive transaction facilitation and after-market services facilitation. It offers integrated solutions that support the life cycle of automotive financing transactions, including credit origination, credit assessment, credit servicing and delinquent asset management services. It provides additional services, including car sourcing and logistics and warehousing support for dealers and facilitation of car purchases for car buyers. The Company's also facilitates after-market services to car buyers, which is comprised of facilitating the sale of insurance policies from insurance brokers or companies. The products offered through its platform are personal accident insurances and automotive insurances. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Cango Inc - ADR revenues decreased 14% to RMB1.7B. Net loss decreased 97% to RMB37.9M. Revenues reflect Automobile trading income decrease of 18% to RMB1.31B, Loan facilitation income and other relat decrease of 86% to RMB20M. Lower net loss reflects Automotive and mobility market segment loss decrease of 92% to RMB73.8M. |
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