On July 17, 2025, Cango Inc. held an extraordinary shareholder meeting where important resolutions were passed with overwhelming support from the participants.
Shareholder Voting Results
At the extraordinary shareholder meeting of Cango Inc., all resolutions presented were passed with over 99.3% of votes cast, and more than 81% of non-affiliate shareholder votes also favored each resolution.
Key Resolutions and Agreements
One of the resolutions approved was the authorization for the execution of a Securities Purchase Agreement dated June 2, 2025, for the secondary sale of 10 million Class B ordinary shares by co-founders Mr. Xiaojun Zhang and Mr. Jiayuan Lin to Enduring Wealth Capital Limited for US$70 million. Shareholders also approved an increase in the Company's authorized share capital to support future financing and corporate needs.
About Cango Inc.
Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business with operations in North America, the Middle East, South America, and East Africa. The Company entered the crypto asset space in November 2024, aiming to diversify its business portfolio.
The resolutions passed at the extraordinary shareholder meeting provide a foundation for further growth of Cango Inc. and opportunities for expanding its operations in the market.
