Cango Inc. Announces Effective Date and Ratio for Share Consolidation

Rhea-AI Summary

Cango (NYSE: CANG) will implement a 10-for-1 consolidation of its authorized, issued and outstanding Class A and Class B ordinary shares, effective 5:00 P.M. ET on July 20, 2026. Post-consolidation trading of Class A shares on the NYSE will start July 21, 2026 under ticker CANG with new CUSIP G1820C 110.

Authorized share capital will remain at US$100,000, divided into 100,000,000 ordinary shares at par value US$0.001 each, comprising 92,067,428 Class A and 7,932,572 Class B ordinary shares. Fractional shares will be rounded down and cancelled without consideration.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• 10-for-1 share consolidation effective July 20, 2026
• Post-consolidation Class A shares: 92,067,428 at par value US$0.001
• Authorized share capital unchanged at US$100,000 and 100,000,000 ordinary shares

Negative

• Fractional shares rounded down; fractions cancelled without any consideration
• Shareholders with non-multiples of ten shares will receive fewer whole shares post-consolidation

Market reaction: CANG -4.33% on 10-for-1 share consolidation

-4.33% $0.22

15m delay

-4.33% Since News

$0.22 Last Price

$0.20 $0.23 Day Range

-$4M Valuation Impact

$93.90M Market Cap

1.19K Volume

Following this news, CANG has declined 4.33%, reflecting a moderate negative market reaction. The stock is currently trading at $0.22. This price movement has removed approximately $4M from the company's valuation.

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What This Means

The company fixed a 10-for-1 share consolidation effective July 20, 2026, with post-split trading fr...

Analysis

The company fixed a 10-for-1 share consolidation effective July 20, 2026, with post-split trading from July 21 and defined Class A and B capital. With a sizable US$500,000,000 shelf and low short interest, investors may watch how structure shifts affect future financing choices.

Key Figures

Share consolidation ratio: 10-for-1 Effective time: 5:00 P.M. Eastern Time Trading start date: July 21, 2026 +5 more

8 metrics

Share consolidation ratio 10-for-1 Authorized, issued and outstanding Class A and Class B ordinary shares

Effective time 5:00 P.M. Eastern Time Share consolidation effective on July 20, 2026

Trading start date July 21, 2026 Post-consolidation trading of Class A ordinary shares on NYSE

Authorized share capital US$100,000 Post-consolidation authorized capital structure

Authorized ordinary shares 100,000,000 shares Post-consolidation, par value US$0.001 each

Authorized Class A shares 92,067,428 shares Post-consolidation Class A ordinary shares, par value US$0.001

Authorized Class B shares 7,932,572 shares Post-consolidation Class B ordinary shares, par value US$0.001

New CUSIP G1820C 110 Post-consolidation Class A ordinary shares on NYSE

Historical Context

5 past events · Latest: Jun 24 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 24	Shareholder meeting	Neutral	-2.8%	Shareholders authorized board to implement potential share consolidation up to 10:1.
Jun 10	Operational update	Positive	-4.3%	May 2026 Bitcoin mining metrics and fleet optimization statistics released.
May 31	Quarterly earnings	Negative	-4.7%	Q1 2026 loss driven by impairments and Bitcoin fair value changes reported.
May 28	Earnings date notice	Neutral	+0.3%	Company scheduled release and call for Q1 2026 financial results.
May 08	Operational update	Positive	+25.6%	April 2026 hashrate, BTC production, costs and fleet modernization update.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news reactions mostly tracked the tone of fundamentals and updates, with only one notable divergence on an operational update.

Regulatory & Risk Context

Active S-3 Shelf · US$500,000,000 · Short Interest: 1.41%

Shelf Active

Short Interest

1.41% of float

0% 15% 30%+

low as of 2026-06-15 Days to cover: 4.97

Reported short positioning appears relatively low, suggesting limited short-squeeze risk and a more muted impact of short covering on volatility compared with heavily shorted stocks.

Active S-3 Shelf Registration 2025-12-17

US$500,000,000 registered capacity

An effective F-3 shelf would allow the company to issue various securities up to the registered amount over time, creating potential dilution if significant capacity is used.

Key Terms

share consolidation, class a ordinary shares, class b ordinary shares, cusip, +1 more

5 terms

share consolidation financial

"its board of directors has determined the effective date and share consolidation ratio"

Share consolidation is a process where a company reduces the total number of its shares by combining multiple existing shares into a smaller number of higher-value shares. This can make each share more expensive and potentially improve the company’s image. For investors, it often means their ownership remains the same, but the value of each share increases, which can influence how the stock is perceived and traded.

class a ordinary shares financial

"consolidation of its authorized, issued and outstanding Class A ordinary shares"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

class b ordinary shares financial

"and Class B ordinary shares on a 10-for-1 ratio"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

cusip financial

"under the Company's existing ticker symbol "CANG" and a new CUSIP number of G1820C 110"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

authorized share capital financial

"the Company's authorized share capital will remain US$100,000"

The maximum number of shares a company is legally allowed to issue according to its governing documents. Think of it as the size of the blank checkbook a company keeps for selling ownership stakes: it sets an upper limit but does not mean all shares are in circulation. Investors care because a larger authorized amount makes it easier for the company to raise money or grant stock-based pay, which can dilute existing holdings and affect control and value per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DALLAS, July 10, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that, pursuant to the authorization granted by the Company's shareholders at the extraordinary general meeting held on June 24, 2026, its board of directors has determined the effective date and share consolidation ratio for its previously approved share consolidation.

The Company will effect the consolidation of its authorized, issued and outstanding Class A ordinary shares and Class B ordinary shares on a 10-for-1 ratio, whereby every ten shares will be consolidated into one share of the same class. The share consolidation will take effect at 5:00 P.M. Eastern Time on July 20, 2026.

The Company expects its Class A ordinary shares to begin trading on the New York Stock Exchange on a post-share consolidation basis at the opening of trading on July 21, 2026, under the Company's existing ticker symbol "CANG" and a new CUSIP number of G1820C 110.

Upon effectiveness of the share consolidation, the Company's authorized share capital will remain US$100,000 and will be divided into 100,000,000 ordinary shares with a par value of US$0.001 each, comprising (i) 92,067,428 Class A ordinary shares with a par value of US$0.001 each, and (ii) 7,932,572 Class B ordinary shares with a par value of US$0.001 each.

No fractional shares will be issued in connection with the share consolidation. In the event that a shareholder would otherwise be entitled to receive a fractional share upon the share consolidation, the total number of shares to be received by that shareholder will be rounded down to the next whole share. Any fraction of a share resulting from the share consolidation will be cancelled and returned to the pool of authorized but unissued shares in the capital of the Company without the payment of any consideration to the holder thereof.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a Bitcoin mining company with a vision to establish an integrated, global infrastructure platform capable of powering the future digital economy. The Company's mining operations span across North America, the Middle East, South America, and East Africa.

Since entering the digital asset space in November 2024, Cango has activated pilot projects in both integrated energy solutions and distributed AI computing. In parallel, Cango continues to operate an online international used car export business through AutoCango.com.

For more information, please visit: www.cangoonline.com and follow us on: X and LinkedIn.

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. 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; 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.

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SOURCE Cango Inc.

FAQ

What is Cango (NYSE: CANG) announcing about its share consolidation?

Cango is implementing a 10-for-1 consolidation of all Class A and Class B ordinary shares. According to Cango, every ten existing shares will be merged into one share of the same class, reducing the number of issued shares while keeping authorized capital unchanged.

What is the effective date of Cango’s 10-for-1 share consolidation for CANG stock?

The share consolidation becomes effective at 5:00 P.M. Eastern Time on July 20, 2026. According to Cango, its Class A ordinary shares will begin trading on a post-consolidation basis on July 21, 2026 on the New York Stock Exchange.

How will Cango’s share consolidation affect CANG trading and CUSIP?

Cango’s Class A ordinary shares will continue trading on the NYSE under ticker CANG after consolidation. According to Cango, trading on a post-consolidation basis starts July 21, 2026, and the shares will have a new CUSIP number, G1820C 110.

What will Cango’s share capital structure be after the CANG share consolidation?

After consolidation, authorized share capital remains US$100,000 divided into 100,000,000 ordinary shares. According to Cango, this comprises 92,067,428 Class A ordinary shares and 7,932,572 Class B ordinary shares, each with a par value of US$0.001 per share.

How will Cango handle fractional shares from the 10-for-1 CANG share consolidation?

Cango will not issue fractional shares in the consolidation. According to Cango, entitlements will be rounded down to the nearest whole share, and any resulting fractional shares will be cancelled and returned to authorized but unissued share capital without compensation.

Will Cango’s authorized share capital or par value change after the CANG consolidation?

Cango’s authorized share capital and par value will remain the same after consolidation. According to Cango, total authorized capital stays at US$100,000, divided into 100,000,000 ordinary shares, each with an unchanged par value of US$0.001 per share.