Cango Inc. Filed Its Annual Report on Form 20-F

SHANGHAI,April 27,2021 -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"),a leading automotive transaction service platform in China,today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31,2020 with the Securities and Exchange Commission on April 27,2021,U.S. Eastern Time.

The annual report can be accessed on the Company's investor relations website at ir.cangoonline.comor the SEC's website at www.sec.gov. The Company will also provide a hard copy of its annual report containing its audited consolidated financial statements,free of charge,to its shareholders and American Depositary Share holders upon request.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform inChinaconnecting dealers,financial institutions,car buyers,and other industry participants. Founded in 2010 by a group of pioneers inChina'sautomotive finance industry,the Company is headquartered inShanghaiand engages car buyers through a nationwide dealer network. The Company's services primarily consist of automotive financing facilitation,car trading transactions,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 inChinacontinue 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.5581

Email:ir@cangoonline.com

Emilie Wu

The Piacente Group,Inc.

Tel: +86 21 6039 8363

E-mail: ir@cangoonline.com

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