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China Stocks: Cango Inc. (CANG), managed by Cango, an automobile trading service platform

Shanghai Cango Investment Management Consulting Service Co., Ltd. (Cango Company, Cango Company) Cango Inc. (NYSE: CANG) was founded in 2010 and is headquartered in Shanghai, China. It has 2940 full-time employees (3/31/2018). With big data and technological innovation as the core driving force, it is a company that has long been committed to providing customers with safe, professional and efficient scientific and technological auto financial services. It is a leading auto financial technology service platform in China.

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Cango Inc. (CANG):

Cangu is a leading automobile trading service platform in China, connecting dealers, financial institutions, automobile buyers and other industry participants. It is an automobile financial service platform integrating sales, landing, approval, and asset management.

According to the Oliver Wyman report, Cango covers the largest number of new car dealers in China. As of December 31, 2017, the balance of financing transactions promoted by Cango is the largest among China’s auto transaction service platforms. As of March 31, 2018, Cango Inc.’s platform connected 37,667 registered dealers, 11 third-party financial institutions and 29 other industry participants, including original equipment manufacturers, online advertising platforms and insurance brokers and companies Since its establishment, Cango has provided services to 734,336 car buyers.

Chan Valley company registered capital of 134 million yuan, set up holding subsidiaries in all major cities, businesses all over the country provinces and cities, and with the car home , large search cars, all vehicles and other domestic automotive verticals partnership. Cangu Company is a first-class domestic front-end and back-end resource integration service platform for the auto finance industry. Regional companies provide agency, self-operated and outsourcing services. The company’s management team is composed of a group of professionals with senior industry background and rich management experience. The win-win relationship with customers is the cornerstone of long-term survival and development. Through various professional automobile services, the company has been built into a high-quality financial industry in the industry. Service sales experts, establish the company’s financial service brand.

Sun Valley provides a wide range of technically supported services in the automotive value chain, enabling the company to attract more participants to join its platform and enhance the participation of existing participants. The services provided by Cango include: (1) facilitation of automobile financing, (2) facilitation of automobile transactions, and (3) improvement of after-sales service. Most of the company’s revenue comes from service fees for auto financing facilitation.

Cango Inc. (CANG) History:

  • In August 2010, Shanghai Cangu Investment Management Consulting Service Co., Ltd. was established.
  • From 2010 to 2015, the auto financial service business was established, and 18 companies were established in Fujian, Hubei, Shanxi, Shandong, Changsha, Shenyang, Hefei, Guangxi, Xi’an, Guangzhou, Kunming, Jiangxi, Nanjing, Shijiazhuang, Guizhou, Chengdu, Henan, Heilongjiang, etc. Subsidiary.
  • In 2016, the full cooperation with Jincheng Bank was started.
  • In 2016, as a major shareholder, the company established a joint venture with Autohome to establish Shanghai Youcheyoujia Financial Leasing Company with a registered capital of 300 million yuan.
  • In 2017, it obtained Series A financing from Warburg Pincus and Chunhua Capital.
  • In 2018, it received Series B and Series C financing led by Tencent, Taikang Life Insurance and Didi Travel.

Cango Inc. (CANG) investment:

Shanghai Cango Investment Management Consulting Services Co., Ltd. (Cango Company) Cango Inc. (NYSE: CANG) submitted its IPO prospectus on 6/22/2018, and listed on the NYSE on 6/22/2018 with an issue price of US$11.00. Issued 12.5 million shares, raised USD 137.5 million, and jointly underwritten by Morgan Stanley / BofA Merrill Lynch / Goldman Sachs (Asia) .

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