Cango Inc SEC Filings

Cango Inc. (CANG) has received a Form 25 notification from the New York Stock Exchange, indicating the removal of its American Depositary Shares from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934. The affected securities are American Depositary Shares, each representing two Class A ordinary shares. The NYSE certifies that it has reasonable grounds to file this notification and that applicable exchange rules and regulatory requirements for striking the securities from listing or withdrawing their registration have been satisfied.

Cango Inc. (CANG) plans a structural change to its U.S. listing. The company reported via Form 6-K that it will terminate its American Depositary Receipt (ADR) program and list its Class A ordinary shares directly on the New York Stock Exchange. This shifts trading from ADRs to the company’s ordinary shares. The update was furnished with an exhibit titled “Cango Inc. to Terminate ADR Program and List Class A Ordinary Shares Directly on NYSE.”

Form 144/A for Cango Inc. (CANG) reports a proposed sale of 800,000 American Depositary Shares (ADS)—each ADS represents two Class A ordinary shares—through Futu Securities International (Hong Kong). The filing lists an aggregate market value of $3,784,000 and shows 103,782,668 shares outstanding. The securities were acquired on 05/25/2018 under a company share incentive from Cango Inc., with 3,890,433 shares originally acquired in that grant; payment is noted as option exercise cost. The approximate sale date is 09/09/2025. The filer states there were no securities sold in the past three months and signs the required representation that no undisclosed material adverse information is known.

Form 144/A for Cango Inc. (CANG) reports a proposed sale of 800,000 American Depositary Shares (ADS)—each ADS represents two Class A ordinary shares—through Futu Securities International (Hong Kong). The filing lists an aggregate market value of $3,784,000 and shows 103,782,668 shares outstanding. The securities were acquired on 05/25/2018 under a company share incentive from Cango Inc., with 3,890,433 shares originally acquired in that grant; payment is noted as option exercise cost. The approximate sale date is 09/09/2025. The filer states there were no securities sold in the past three months and signs the required representation that no undisclosed material adverse information is known.

Form 144/A for Cango Inc. (CANG) reports a proposed sale of 800,000 American Depositary Shares (ADS)—each ADS represents two Class A ordinary shares—through Futu Securities International (Hong Kong). The filing lists an aggregate market value of $3,784,000 and shows 103,782,668 shares outstanding. The securities were acquired on 05/25/2018 under a company share incentive from Cango Inc., with 3,890,433 shares originally acquired in that grant; payment is noted as option exercise cost. The approximate sale date is 09/09/2025. The filer states there were no securities sold in the past three months and signs the required representation that no undisclosed material adverse information is known.

Cango Inc. (symbol: CANG) filing of a Form 144 notifies a proposed sale of 800,000 American Depositary Shares (ADS) on or about 09/09/2025. Each ADS represents two Class A ordinary shares. The filing lists Futu Securities International (Hong Kong) Ltd. as the broker and reports an aggregate market value of $3,784,000.00 for the ADS offered. The securities were originally acquired on 05/25/2018 under a company share incentive plan from Cango Inc., with 3,890,433 shares shown as acquired in that transaction. The form states the nature of payment as option exercise cost and indicates nothing to report for securities sold in the past three months.

Cango Inc's American depositary shares (ADSs) are the subject of a Schedule 13G/A filed jointly by Tencent Holdings Limited and its wholly owned subsidiary Tencent Mobility Limited. Together they report beneficial ownership of 13,434,808 ADSs, representing 3.9% of the Class A ordinary share class based on 344,530,449 Class A Ordinary Shares outstanding. The filing notes each ADS represents two Class A Ordinary Shares and that the CUSIP 137586103 applies to the ADSs.

The statement identifies sole voting and dispositive power over the reported ADSs and includes a joint filing agreement as an exhibit. Items reporting ownership above 5% or group control are marked not applicable, indicating this is a routine disclosure of a sub-5% stake.

Cango Inc. (CANG) – Schedule 13D/A Amendment No. 5 details a July 23 2025 transaction that materially alters the company’s voting structure.

• Traveler Enterprise Ltd. (controlled by founder Jiayuan Lin) sold 5 million Class B shares—each carrying 20 votes—to Enduring Wealth Capital Ltd. for US$35 million, of which US$7.5 million is contingent on future conditions. Fellow shareholder Xiaojun Zhang sold an identical block on the same terms.
• To facilitate the sale, Cango’s board and audit committee approved corporate actions ensuring EWCL’s shares retain Class B status. Mr. Lin voluntarily converted all remaining Class B shares into Class A shares (one vote each).
• Post-deal, Mr. Lin’s beneficial holdings equal 47,988,077 Class A shares (13.3% of class; 8.6% voting power), including 15.5 million option shares exercisable within 60 days. Traveler Enterprise/Holdings collectively own 32,439,260 Class A shares (9.4%).
• Because Lin and Zhang now hold below 50 % of total voting power, they no longer control the company; the board and management were restructured immediately after closing.
• The reporting persons state the holdings are for investment purposes and may be adjusted depending on market and strategic factors; the 2019 Lin-Zhang Voting Agreement was terminated.

Key takeaway: an outside investor gains super-voting stock while founders forfeit control, introducing governance uncertainty but potentially broadening strategic options.