SHANGHAI, June 21,
2022 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango"
or the "Company"), a leading automotive transaction service
platform in China, today announced
that the Company launched its Cango Haoche mobile application (the
"APP") on June 20, 2022. Built on the
success of its Cango Haoche WeChat mini-program, which was
introduced last year, the APP marks an important milestone for
Cango in transforming its business into a one-stop automotive
transaction services platform empowering the whole automotive
chain.
With this new APP, Cango aims to meet dealers' evolving and
diverse demands more promptly and accurately with a stabler and
more robust system, as well as smoother and richer functionality.
The APP provides end-to-end services to dealers, especially small-
and medium-sized dealers in lower-tier markets, ranging from steady
vehicle sources and nationwide warehousing and logistics services
to support for financial and insurance services. In addition to the
WeChat mini-program's original services such as online car search,
vehicle source listing and model search, the new APP supports
real-time inventory inquiries for proprietary vehicles, enabling
registered dealers to access inventory status and make decisions
accordingly. Furthermore, Cango optimized the APP's online payment
feature, providing dealers with greater convenience and security
for their online transactions.
Gu Min, Vice President of Cango
Group, commented, "Despite the multitude of players in our
industry, as yet there is no comprehensive platform providing
integrated car trading transactions, financial, insurance and
implementation services, especially in lower-tier markets. Our
Cango Haoche APP represents a tremendous step forward in our
efforts to fill that void. Cango has been cultivating its presence
in lower-tier markets for over a decade and boasts deep market
insights as well as a broad understanding of dealers' needs. Our
platform and tools directly address dealers' pain points by
providing one-stop, end-to-end services and serving as a trusted
partner on their journey, supporting them as they grow."
Going forward, the Cango Haoche APP and WeChat mini program will
run in parallel. Dealers can easily conduct car searches, check
vehicle sources and review trending recommendations of proprietary
car models on the mini-program, while accessing increasingly
efficient empowerment services and functions on the APP,
strengthening user stickiness. To provide a more interactive
experience and further increase user loyalty, the Company will
periodically launch discounts, coupons, gifts and other special
offers through the APP.
Recently, favorable policies such as the reduction of the
passenger vehicle purchase tax and promotion of new energy vehicles
(NEVs) in rural areas have stimulated demand for automotive
consumption, particularly in lower-tier cities. This policy
support, along with largely unmet consumer demand in lower-tier
markets, bodes well for Cango given the Company's extensive
knowledge of and experience with a wide dealer network in those
markets. Cango will leverage these opportunities to continue
building its end-to-end closed service loop, empowering dealers and
connecting the upstream and the downstream of the industry through
platform services covering vehicle sources, finance, insurance,
warehousing, logistics, and supply chain finance.
About Cango Inc.
Cango Inc. (NYSE: CANG) is a leading automotive transaction
service platform in China
connecting car buyers, dealers, financial institutions, and other
industry participants. Founded in 2010 by a group of pioneers in
China's automotive finance
industry, the Company is headquartered in Shanghai and has a nationwide network.
Leveraging its competitive advantages in technological innovation
and big data, Cango has established an automotive supply chain
ecosystem, and developed a matrix of products centering on customer
needs for auto transaction, auto financing and after-market
services. By working with platform participants, Cango endeavors to
makes car purchase simple and enjoyable, and make itself customers'
car purchase service platform of choice. For more information,
please visit: www.cangoonline.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the "Business Outlook" section and quotations from
management in this announcement, contain forward-looking
statements. Cango may also make written or oral forward-looking
statements in its periodic reports to the SEC, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Cango's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Cango's goal and strategies; Cango's expansion plans;
Cango's future business development, financial condition and
results of operations; Cango's expectations regarding demand for,
and market acceptance of, its solutions and services; Cango's
expectations regarding keeping and strengthening its relationships
with dealers, financial institutions, car buyers and other platform
participants; general economic and business conditions; and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included in Cango's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and Cango does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
Media Contact:
Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: pr@cangoonline.com
Twitter: https://twitter.com/Cango_Group
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SOURCE Cango Inc.