Cango Inc. Announces Completion of Secondary Acquisition and Appointment of New Leadership Team
Main Idea
Cango Inc. announced the completion of a secondary acquisition and the appointment of new leadership to strengthen governance and drive the company's next phase of growth.
Key Points
1. Cango Inc. appointed new leadership including Mr. Xin Jin as Chairman, Mr. Peng Yu as CEO, and others to key positions.
2. The Board also strengthened governance by appointing members to the Audit Committee and Nominating and Corporate Governance Committee.
3. Mr. Xiaojun Zhang and Mr. Jiayuan Lin resigned as co-founders and sold 10 million Class B shares to Enduring Wealth Capital Limited for US$70 million.
4. Post-transaction, Mr. Zhang and Mr. Lin hold 18.54% of total outstanding shares and 12.07% of voting power, while Enduring Wealth Capital Limited holds 2.82% of shares and 36.73% of voting power.
5. The leadership changes and secondary acquisition are effective immediately, aimed at maximizing shareholder value and driving growth.
Description
BitcoinWorld Cango Inc. Announces Completion of Secondary Acquisition and Appointment of New Leadership Team HONG KONG , July 23, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) today announced its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the “Board”) and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments. On July 23, 2025 , the Board appointed (i) Mr. Xin Jin as Chairman of the Board and Non...
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