Cango Inc. to Report First Quarter 2020 Financial Results on May 27, 2020 Eastern Time

SHANGHAI,May 22,2020 -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"),a leading automotive transaction service platform in China,today announced that it plans to release its first quarter 2020 financial results after the market closes on Wednesday,May 27,2020. The earnings release will be available on the Company's investor relations website at http://ir.cangoonline.com/.

Cango's management will hold a conference call on Wednesday,2020,at 9:00 P.M. Eastern Time or Thursday,May 28,at 9:00 A.M. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:+1-412-902-4272

United States Toll Free:+1-888-346-8982

Mainland China Toll Free:4001-201-203

Hong Kong,China Toll Free: 800-905-945

Conference ID:Cango Inc.

The replay will be accessible through June 3,by dialing the following numbers:

International:+1-412-317-0088

United States Toll Free: +1-877-344-7529

Access Code:10144582

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.cangoonline.com/.

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.

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

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