Cango Inc SEC Filings

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.

Cango Inc, a Chinese company listed on US markets, has filed a Form 6-K reporting significant corporate developments in June 2025. The filing discloses two major exhibits:

• The completion of share-settled cryptocurrency mining assets acquisitions
• A new Service Framework Agreement dated June 27, 2025

The filing was signed by Jiayuan Lin, who serves as Director and Chief Executive Officer. This strategic move into crypto mining assets represents a notable business direction for Cango, which is headquartered in Shanghai's Pudong New Area. The company continues to file its annual reports on Form 20-F as a foreign private issuer under SEC regulations.