To Establish a New Retail Product for Automotive Transaction in the Decrease-Tier Marketplaces

SHANGHAI, April 20, 2021 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a top automotive transaction company system in China, nowadays announced its subsidiary Shanghai Cango Community Technological innovation Co., Ltd. (“Cango Community Engineering”) has entered into a strategic settlement with Zhengzhou Nissan Vehicle Sales Provider Co., Ltd. (“Zhengzhou Nissan”), to jointly produce a new retail product for automotive transaction in China’s lower-tier markets.

Min Gu, Basic Supervisor of Cango Community Technology, commented, “We are honored to have achieved this strategic agreement with Zhengzhou Nissan. Leveraging our successful buying and selling assistance platform, in depth community and marketplace skills in the lessen-tier marketplaces, we look forward to collaborating with Zhengzhou Nissan to develop a new retail model for automotive transaction in these marketplaces.”

Xiaoqiang Zhang, Deputy Typical Supervisor of Zhengzhou Nissan, said, “Zhengzhou Nissan has normally adhered to its dual-brand name technique and has been exploring new segments and consumer markets for many years. Considering that Cango has been effectively-proven in the decrease-tier marketplaces for additional than 10 yrs, and its functionality has been very well identified by the market, we anticipate this new cooperation will not only produce a new company product but a acquire-win situation for both get-togethers.”

As aspect of the agreement, the two get-togethers will collaborate and innovate in the parts of automotive profits and internet marketing in the reduced-tier marketplaces by way of the development of a new automotive retail design. In addition, Cango Network Technological know-how will also deliver car fiscal products and products and services to all shoppers of Zhengzhou Nissan’s qualified secondary seller outlets. In addition, Cango Network Engineering will leverage its much more than 50,000 car or truck sellers and 80 nearby warehouses as effectively as efficient logistics throughout the lessen-tier markets, serving as an efficient complement to Zhengzhou Nissan’s present product sales channels. In addition, Cango Network Know-how will do the job to address Zhengzhou Nissan’s performance trouble in the decrease-tier markets, whilst offering economical and other supporting providers. Notably, dependent on Cango’s 10 years-prolonged market expertise in automotive companies in the lower-tier markets, Cango Network Technological innovation will also enable Zhengzhou Nissan obtain and work website traffic from the lower-tier markets, together with customized precision advertising and advertising, as it faucets into rising rural and suburban markets.

The strategic cooperation with Zhengzhou Nissan marks an crucial milestone for Cango in the car trading transactions business. The move will enhance each parties’ benefits, as they jointly check out the new retail design of autos and provide better excellent auto-related products and expert services for the greater part of shoppers in the lower-tier marketplaces, building motor vehicle buys easy and enjoyable for buyers.

Cango Network Technological innovation, a subsidiary of Cango, is the principal system of Cango’s motor vehicle buying and selling transactions small business and focuses on automobile buying and selling, vehicle leasing companies, made use of car brokerage and other corporations. With its deep community in the reduce-tier markets, it features top quality vehicle merchandise and products and services to customers whilst also delivering a person-stop companies for the auto obtain procedure.

Zhengzhou Nissan is a leader in China’s pickup truck market. It has realized impressive results considering the fact that its institution 28 years in the past. With the growing common of residing in China and the enhance in intake, automobile potential buyers have put ahead higher requirements for the new ecology of “individuals, cars, mother nature and society.” Zhengzhou Nissan grasps the precise pain factors of client demand and continually enriches its pickup truck merchandise matrix to satisfy the several requirements of clients.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction assistance system in China connecting sellers, financial institutions, automobile buyers, and other market participants. Established in 2010 by a group of pioneers in China’s automotive finance market, the Corporation is headquartered in Shanghai and engages car or truck purchasers by way of a nationwide dealer network. The Company’s expert services mainly consist of automotive financing facilitation, auto trading transactions, and after-market services facilitation. By using its aggressive benefits in technologies, info insights, and cloud-centered infrastructure, Cango is ready to join its platform individuals even though bringing them a quality user expertise. Cango’s system model places it in a special posture to include worth for its system members and company partners as the automotive and mobility marketplaces in China carry on to grow and evolve. For additional details, make sure you go to: www.cangoonline.com.

Safe Harbor Assertion

This announcement consists of ahead-seeking statements. These statements are designed beneath the “safe and sound harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. These ahead-hunting statements can be discovered by terminology these as “will,” “expects,” “anticipates,” “long run,” “intends,” “strategies,” “believes,” “estimates” and very similar statements. Amid other issues, the “Small business Outlook” area and quotations from management in this announcement, consist of ahead-searching statements. Cango may perhaps also make created or oral ahead-on the lookout statements in its periodic reports to the SEC, in its annual report to shareholders, in push releases and other published resources and in oral statements made by its officers, administrators or workers to third parties. Statements that are not historical specifics, which include statements about Cango’s beliefs and expectations, are forward-seeking statements. Ahead-searching statements contain inherent pitfalls and uncertainties. A quantity of elements could induce genuine success to differ materially from people contained in any forward-hunting assertion, including but not constrained to the following: Cango’s goal and procedures Cango’s enlargement programs Cango’s foreseeable future business enhancement, fiscal condition and outcomes of operations Cango’s anticipations concerning demand from customers for, and current market acceptance of, its solutions and companies Cango’s anticipations regarding holding and strengthening its relationships with sellers, economical establishments, motor vehicle potential buyers and other system contributors general financial and business ailments and assumptions underlying or relevant to any of the foregoing. Additional info relating to these and other dangers is provided in Cango’s filings with the SEC. All data offered in this press launch and in the attachments is as of the day of this push release, and Cango does not undertake any obligation to update any ahead-seeking statement, besides as essential below applicable legislation.

Investor Relations Make contact with

Caesar Cao
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Electronic mail: [email protected]

Emilie Wu
The Piacente Team, Inc.
Tel: +86 21 6039 8363
Electronic mail: [email protected]

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