Press Release: Cango Inc. Secures US$10.5 Million Investment from EWCL to Accelerate Growth

Dow Jones2025-12-30

DALLAS, Dec. 30, 2025 /PRNewswire/ -- Cango Inc. $(CANG)$ ("Cango" or the "Company"), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, announced that Enduring Wealth Capital Limited ("EWCL") increased its investment in the Company with a US$10.5 million commitment. EWCL will subscribe for additional Class B ordinary shares in cash at US$1.50 per share. This transaction underscores a strong, aligned vision for Cango's future and provides substantial capital to accelerate its core growth initiatives.

Under the terms of this agreement: 

   -- Pursuant to an Investment Agreement dated December 29, 2025, between the 
      Company and EWCL, the Company will issue and deliver to EWCL 7 million 
      Class B ordinary shares, each carrying 20 votes per share. 
 
   -- Upon closing of the Proposed Investment, EWCL's shareholding in the 
      Company is expected to increase from approximately 2.81% to approximately 
      4.69% of the total outstanding shares. 
 
   -- Correspondingly, EWCL's voting power is expected to rise from 
      approximately 36.68% to approximately 49.61% of the total voting power of 
      the Company's outstanding shares.

Paul Yu, CEO and Director of Cango, commented, "The increased investment from EWCL is a powerful vote of confidence in our strategic roadmap. The strengthened alignment with a major shareholder who thoroughly understands our vision enables us to execute with greater certainty and ambition. In 2026, we will continue to strengthen our Bitcoin mining operational capabilities, with a focus on improving hashrate efficiency, upgrading our mining fleet, and selectively acquiring strategic mining assets. Beyond our core mining business, this capital also supports the parallel development of our strategic pillars in energy and AI compute. We are actively exploring and investing in synergistic opportunities in these areas as we build toward our long-term goal: establishing an integrated, global infrastructure platform capable of powering the future digital economy."

Closing of the Proposed Investment is subject to certain customary closing conditions, including the requisite approval by the New York Stock Exchange. The Company expects to close the transaction in January 2026. This step is expected to support the Company's progress on its strategic priorities and provide capital to implement key initiatives in the year ahead.

Investor Relations Contact

Juliet Ye, Head of Communications

Cango Inc.

Email: ir@cangoonline.com

Christensen Advisory

Tel: +852 2117 0861

Email: cango@christensencomms.com

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SOURCE Cango Inc.

(END) Dow Jones Newswires

December 30, 2025 06:00 ET (11:00 GMT)

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