Cango inc. announces up to us$50 million new share repurchase program

Shanghai, aug. 19, 2021 /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 august 26, 2021. on march 2, 2021, the company announced a share repurchase program (the "existing share repurchase program") under which the company may repurchase up to us$50 million worth of its outstanding adss and/or class a ordinary shares.
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