Cango Wins "Best Investment Value for Listed Companies" Golden Bauhinia Award

SHANGHAI,Dec. 21,2021 -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"),a leading automotive transaction service platform inChina,received a "Best Investment Value for Listed Companies" award at the 11th China Securities Golden Bauhinia Awards. This prestigious award recognizes Cango's outstanding accomplishments,diverse business services and solid,comprehensive strength.

The China Securities Golden Bauhinia Awards,organized by Hong Kong Ta Kung Wen Wei Media Group,are a trusted,large-scale,premiere selection event honoring top-performing listed companies in Mainland China and Hong Kong. The Golden Bauhinia Awards are widely recognized as the "Oscars" for listed companies and have become an important benchmark for investors at home and abroad when following the developments of China's capital markets and listed companies.The judging panel evaluates listed companies according to principles of fairness,openness and justice and formulates a comprehensive score for each candidate based on various metrics and expert opinions. This year,over 70 winners were chosen,boasting a combined market value of RMB100 trillion.

Cango management commented that it is a great honor to receive this distinguished award. It is a powerful testament to our dedication to excellence and our business model's flexibility and resilience as we grow from an automotive financing facilitator into a comprehensive car transaction services platform. Cango remains committed to its goal of becoming an auto service platform of choice by facilitating easy and enjoyable car purchase experiences. Furthermore,Cango will continuously strive to reward all its investors with better performance and more generous dividends.

Since its inception more than 10 years ago,Cango's business has evolved from its original automotive financing facilitation services model (Model 1.0) into a supply chain model,covering car trading transactions,automotive financing facilitation and after-market services facilitation (Model 2.0). Cango is now working towards Model 3.0 – building a platform to reshape the relationship between people,goods and the market through technology-empowered automotive trading and financing services and its unique closed service loop,creating value for each participant along the car trading transaction chain.

Cango has established cooperation with dozens of medium-sized and large commercial banks,such as Industrial and Commercial Bank of China,WeBank,Shanghai Bank,MYBank,as well as a dozen insurance agencies including Pacific Insurance and Zhong'an Insurance,among others. In addition,it has collaborated with major OEMs of both traditional automobile and new energy vehicle manufacturers and connected around 50,000 registered dealers across the country,providing services to more than 1.9 million car buyers.

Endorsed by multiple Internet giants and financial capital providers,Cango has completed three rounds of financing totaling USD650 million. Tencent,Didi Chuxing,Taikang Insurance,Warburg Pincus and other heavyweight institutions are among Cango's strategic shareholders.

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,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 in China continue to grow and evolve. For more information,please visit: www.cangoonline.com.

Investor Relations Contact

Yihe Liu

Cango Inc.

Tel: +86 21 3183 5088 ext.5581

Email: ir@cangoonline.com

Twitter: https://twitter.com/Cango_Group

Emilie Wu

The Piacente Group,Inc.

Tel: +86 21 6039 8363

Email: ir@cangoonline.com

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