Cango Participates in 2021 China Automobile Dealers Industry Convention & Expo

SHANGHAI,Dec. 7,2021 -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"),a leading automotive transaction service platform in China,today announced its participation in the 2021 China Automobile Dealers Industry Convention & Expo in Haikou,Hainan province,China from December 2-4,2021.

Hosted by the China Automobile Dealers Association,the convention brought Cango and other important industry participants together to analyze the current state of the auto industry and share their market insights and wisdom. This year's theme was "Opportunities and Challenges under the New Pattern," which centered on the main drivers and headwinds facing players in the auto industry in China and across the world,as innovative technologies,formats and models usher in a new era of development.

As a leading automobile transaction service platform offering a cost-effective,all-inclusive car buying experience,Cango is committed to forging a path to progress and high-quality development while maintaining stability in the face of these fundamental industry changes. Headquartered in Shanghai,Cango serves as the largest dealership network in China's lower-tier cities. The Company's services cover the entire automotive transaction chain from pre-sale to post-sale,including automotive financing facilitation,car trading transactions,and after-market services facilitation. Furthermore,Cango connects car dealers,OEMs,financial institutions,and other auto industry participants to help them satisfy their customers' individual requirements. By offering a wide range of services to all auto industry participants,Cango has become an invaluable industry player.

Balancing customer needs with industry development can be tricky. Cango's cutting-edge technology and cloud-based infrastructure seamlessly connect platform participants,making automobile transactions infinitely easier. Cango connects OEMs,car buyers and the car dealers,and provides value to the three through its transaction service platform,which makes it simpler and more efficient to "match people with goods" and "match goods with people" in the field of automobile dealing. In the meantime,it helps car buyers complete the car purchase procedures and offers automotive financing solutions,but also provides financial institutions with end-to-end services from customer acquisition to pre-,mid- and post-loan periods,supporting the entire life cycle of the auto financing transaction.

Cango's unique platform will create even greater value for its users and business partners as China's transportation market evolves. Transportation and mobility are critical components of societal advancement. When people have access to a vehicle or other means of transportation,their employment and education options expand dramatically. In China's lower-tier cities,transportation accessibility and mobility are huge societal problems given inadequate personal transportation alternatives. This is where Cango comes in.

Cango's goal is to make buying a car easier and more enjoyable. This simple yet effective vision could start a mobility revolution in China's lower-tier cities. Without mobility,citizens cannot take advantage of opportunities and industries miss out on exceptional talent and innovative ideas. Mobility creates possibilities. Streamlining the automobile purchase process drastically improves transportation accessibility and mobility. In turn,greater mobility brings employers and workers together,engendering productive industries and mending gaps in the fabric of society. As our society evolves,Cango will expand the boundaries of mobility for all of China's citizens.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers,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,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.

Media Contact:

Juliet Ye

Cango Inc.

Tel: +86 21 3183 5088 ext.5581

Email: pr@cangoonline.com

Twitter: https://twitter.com/Cango_Group

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