HONG KONG, June 4, 2025 - Cango Inc. $(CANG)$ has announced a significant update to its shareholder structure with the third amendment to its On-Rack Sales and Purchase Agreement, originally signed on November 6, 2024. The amendment pertains to the acquisition of cryptomining machines, settled through the issuance of Class A ordinary shares. Upon completion, Enduring Wealth Capital Limited will hold approximately 2.82% of Cango's total outstanding shares and 36.74% of the total voting power. Meanwhile, the company's co-founders, Mr. Xiaojun Zhang and Mr. Jiayuan Lin, will collectively hold 18.54% of the shares and 12.07% of the voting power. Additionally, GT will hold 18.79% of shares and 12.23% of voting power. The amendment also involves the issuance of 146,670,925 Class A shares and potentially 97,780,616 bonus shares depending on certain conditions. Following a change in GT's ownership, Mr. Ning Wang will now exercise director nomination and appointment rights.
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