Cango Inc. Class A Ordinary Shares Begin Trading on NYSE
Cango (NYSE:CANG) announced its Class A ordinary shares began trading on the New York Stock Exchange on November 17, 2025 following termination of its ADR program.
Holders of American depositary shares received two Class A ordinary shares per ADS (similar to a 2-for-1 split). NYSE authorized the direct listing on November 14, 2025. The direct listing lets U.S. investors hold shares directly and eliminates depositary fees. Cango said the move may enhance institutional visibility and broaden its investor base. No new shares were issued and no capital was raised, so there is no dilution. The company reported approximately 356 million Class A ordinary shares outstanding as of the announcement date.
Cango (NYSE:CANG) ha annunciato che le sue azioni ordinarie di classe A hanno iniziato a essere negoziate sulla New York Stock Exchange il 17 novembre 2025, a seguito della cessazione del programma ADR.
I detentori di ADR hanno ricevuto due azioni ordinarie di classe A per ogni ADS (corrispondente a una divisione 2 per 1). NYSE ha autorizzato la quotazione diretta il 14 novembre 2025. La quotazione diretta consente agli investitori statunitensi di detenere azioni direttamente e elimina le commissioni di deposito. Cango ha affermato che la mossa potrebbe aumentare la visibilità istituzionale e ampliare la sua base di investitori. Non sono state emesse nuove azioni né è stato mobilitato capitale, quindi non c'è diluizione. L'azienda ha riferito circa 356 milioni di azioni ordinarie di classe A in circolazione alla data dell'annuncio.
Cango (NYSE:CANG) anunció que sus acciones comunes de clase A comenzaron a cotizar en la Bolsa de Nueva York el 17 de noviembre de 2025 tras la terminación de su programa ADR.
Los titulares de ADS recibieron dos acciones ordinarias de clase A por cada ADS (similar a una división de 2 por 1). La NYSE autorizó la cotización directa el 14 de noviembre de 2025. La cotización directa permite a los inversores de EE. UU. poseer acciones directamente y elimina las tarifas de depositario. Cango dijo que el movimiento podría mejorar la visibilidad institucional y ampliar su base de inversores. No se emitieron nuevas acciones ni se recaudó capital, por lo que no hay dilución. La compañía reportó aproximadamente 356 millones de acciones ordinarias de clase A en circulación a la fecha del anuncio.
Cango (NYSE:CANG)는 ADR 프로그램 종료에 따라 2025년 11월 17일에 뉴욕증권거래소에서 Class A 보통주가 거래를 시작했다고 발표했다. ADR 보유자에게는 ADS 1주당 Class A 보통주 2주가 지급되었다(2대 1 분할과 유사). NYSE는 2025년 11월 14일에 직접 상장을 승인했다. 직접 상장은 미국 투자자들이 주식을 직접 보유할 수 있게 하며 감자 수수료를 없앤다. Cango는 이 조치가 제도적 가시성을 높이고 투자자 기반을 확대할 수 있다고 말했다. 새로운 주식은 발행되지 않았고 자본도 조달되지 않았으므로 희석은 없다. 발표일 기준으로 회사의 Class A 일반 주식은 약 3억 5600만 주가 발행되어 있다.
Cango (NYSE:CANG) a annoncé que ses actions ordinaires de classe A ont commencé à être négociées à la Bourse de New York le 17 novembre 2025 à la suite de la résiliation de son programme ADR.
Les détenteurs d'ADS ont reçu deux actions ordinaires de classe A pour chaque ADS (équivalent à un éclatement 2 pour 1). Le NYSE a autorisé la cotation directe le 14 novembre 2025. La cotation directe permet aux investisseurs américains de détenir les actions directement et supprime les frais de dépôt. Cango a déclaré que la démarche pourrait améliorer la visibilité institutionnelle et élargir sa base d'investisseurs. Aucune nouvelle action n'a été émise et aucun capital n'a été levé, il n'y a donc pas de dilution. La société a annoncé environ 356 millions d'actions ordinaires de classe A en circulation à la date de l'annonce.
Cango (NYSE:CANG) gab bekannt, dass seine Class-A-Stammaktien nach Beendigung des ADR-Programms am 17. November 2025 an der New York Stock Exchange gehandelt wurden. Besitzer von American Depositary Shares erhielten zwei Class-A-Stammaktien pro ADS (ähnlich einem 2-für-1-Split). Die NYSE hat die Direktnotierung am 14. November 2025 genehmigt. Die Direktnotierung ermöglicht es US-Investoren, Aktien direkt zu halten, und entfällt die Depotgebühr. Cango sagte, die Maßnahme könne die institutionelle Sichtbarkeit erhöhen und seine Investorenbasis verbreitern. Es wurden keine neuen Aktien ausgegeben und kein Kapital aufgenommen, daher gibt es keine Verwässerung. Das Unternehmen meldete zum Ankündigungsdatum rund 356 Millionen Class-A-Stammaktien im Umlauf.
Cango (NYSE:CANG) أعلن أن أسهمه العادية من الفئة A بدأت التداول في بورصة نيويورك في 17 نوفمبر 2025 عقب إنهاء برنامجه ADR.
وقد تلقى حاملوا الأسهم الأمريكية للأوراق المالية ADR سهمين عاديين من الفئة A مقابل كل ADS (مشابه لتقسيم 2 مقابل 1). سمحت NYSE بالطرح المباشر في 14 نوفمبر 2025. يتيح الطرح المباشر للمستثمرين الأمريكيين امتلاك الأسهم مباشرةً وإلغاء رسوم الإيداع. قالت Cango إن هذه الخطوة قد تعزز الرؤية المؤسسية وتوسع قاعدة مستثمريها. لم تُصدر أسهم جديدة ولم يتم جمع رأس مال، لذا لا يوجد التخفيف. وأفادت الشركة بأن حوالي 356 مليون سهم عادي من الفئة A مدرجة قيد التداول حتى تاريخ الإعلان.
- Direct NYSE listing authorized on November 14, 2025
- ADS conversion of 2-for-1 (two Class A shares per ADS)
- No new shares issued — transaction caused no dilution
- Depositary fees eliminated for former ADS holders
- None.
Cango's termination of the ADR Program and direct listing of its Class A ordinary shares did not involve the issuance of new shares or the raising of additional capital, ensuring no dilution to existing shareholders. As of the date hereof, Cango has approximately 356 million Class A ordinary shares outstanding.
About Cango Inc.
Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across
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. Among other things, the "Roadmap Forward" section and quotations from management in this announcement, contain forward-looking 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 plan to terminate its ADR program and list its Class A ordinary shares directly on the NYSE and potential benefits from such change; 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.
Investor Relations Contact
Juliet Ye, Head of Communications
Cango Inc.
Email: ir@cangoonline.com
Christensen Advisory
Tel: +852 2117 0861
Email: cango@christensencomms.com
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SOURCE Cango Inc.
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