Cango inc. announces new share repurchase program

Shanghai , april 21, 2023 /prnewswire/ -- cango inc. (nyse: cang) ("cango" or the "company"), a leading automotive transaction service platform in china, today announced that its board of directors has authorized a new share repurchase program (the "new share repurchase program") under which the company may repurchase up to us$50 million worth of its outstanding (i) american depositary shares ("adss"), each representing two class a ordinary shares, and/or (ii) class a ordinary shares over the next 12 months starting from april 25, 2023. the company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, in accordance with applicable rules and regulations.
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