Cango Inc. receives new equity investment from EWCL

Foresight News reported that Cango Inc. announced its sole Class B ordinary shareholder, Enduring Wealth Capital Limited (EWCL), has decided to increase its investment in the company through a cash subscription. According to the investment agreement signed on December 29, 2025, Cango will issue 7,000,000 Class B ordinary shares to EWCL, each carrying 20 votes. EWCL will subscribe to these shares for a total price of $10.5 million, meaning each share is priced at $1.5. Upon completion of this investment, EWCL's shareholding in the company will increase from approximately 2.81% to 4.69%, and its voting rights will correspondingly rise from about 36.68% to 49.61%. The final completion of this investment is subject to customary conditions, including relevant approvals from the New York Stock Exchange, and is expected to be completed in January 2026. There is no assurance that all conditions for the completion of the investment will be satisfied.