Cango Inc. Named in EqualOcean's Rankings for Top 20 Most Innovative Automotive Fintech and Service Providers Worldwide in 2019

BEIJING,Dec. 11,2019 --Cango,Inc. (NYSE: CANG) ("Cango" or the "Company"),a leading automotive transaction service platform in China,has been named to the list for the Top 20 Most Innovative Automotive Fintech and Service Providers Worldwide in 2019. Conducted by EqualOcean and the Auto Industry & Financial Services Committee of the Shanghai Services Federation on November 29,2019,the ranking aims to cultivate innovation and win-win relationships throughout the global auto financing industry.

These results also serve as a benchmark to guide the development of consumer financing services in the global auto industry. The committee based its analysis on each company's industry influence,technology application,innovation performance,competitive strengths,market recognition,brand reputation,and future potential to select those auto financing technology service providers that best represent the industry for their top 20 list. Notably,this group of world-class service providers included the likes of CarMax Inc.,Carvana Co.,and Dealertrack Technologies,Inc. in 2019.

The committee stated that Cango has reshaped auto financing services and achieved outstanding performance as a channel service provider through its combination of auto financing with big data technology and other innovations. Cango's innovative efforts as a technology-driven auto financing service platform have effectively led the way for this traditional industry.

About Cango,Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers,financial institutions,car buyers,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 engages car buyers through a nationwide dealer network. The Company's services primarily consist of automotive financing facilitation,automotive transaction facilitation,and after-market services facilitation. By utilizing its competitive advantages in technology,data insights,and cloud-based infrastructure,Cango is able to connect its platform participants while bringing them a premium user experience. Cango's platform model puts it in a unique position to add value for its platform participants and business partners as the automotive and mobility markets in China continue to grow and evolve. 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,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.

Investor Relations Contact

Caesar Cao

Cango Inc.

Tel: +86 21 3183 5088 ext.5521

Email: ir@cangoonline.com

Jack Wang

ICR Inc.

Tel: +1 (646) 405-5056

Email: ir@cangoonline.com

View original content:/news-releases/cango-inc-named-in-equaloceans-rankings-for-top-20-most-innovative-automotive-fintech-and-service-providers-worldwide-in-2019-300973012.html