Cango Wins Tonghuashun Best IR Award

SHANGHAI,Jan. 24,2022 -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"),a leading automotive transaction service platform in China,today announced that Cango received Tonghuashun's Best IR Award for 2021,highlighting the Company's commitment to excellence and outstanding investor communications. With its premium content and active investor interactions,Cango persuasively defines its company value and brand image to maximize capital market recognition.

Mr. Jiayuan Lin,Chief Executive Officer of Cango,commented,"We are honored to receive this prestigious award and will remain dedicated to IR best practices as we provide our users with safe,professional and effective technology-driven automotive transaction services. Going forward,we will continue to strengthen our market value management and expand Cango's communication channels with the capital market to quickly and accurately share development information,boosting investors' and shareholders' confidence in the Company."

Cango was recognized along with an illustrious group of 19 other HK- or US-listed companies including China Power,ZhongAn Online,and CSPC Group. The selection is based on a comprehensive evaluation of listed companies' multi-dimensional data on the Tonghuashun platform,such as the number of official account followers,article data,individual stocks and topic popularity,day-to-day operations and the number of research/IR activities.

Currently hosting over 1,000 listed companies,institutions or media organizations and covering 500 million investors,Tonghuashun is a prominent authoritative communication platform between listed companies and investors. Since Cango established its presence on the platform,Tonghuashun has served as an effective communication bridge between Cango and investors,displaying Cango's latest updates,sharing in-depth auto industry news and helping Cango manage investor relations.

Founded in 2010,Cango Group (NYSE: CANG) is based in Shanghai,China with business presence throughout the country. Starting with automotive financing facilitation,Cango built an extensive dealer network with a nationwide coverage deeply rooted in lower-tier cities and counties,and gradually expanded both upward and downward along the value chain. Over the past decade and more,Cango has grown from the 1.0 model of auto financial services initially to the 2.0 supply chain model covering car trading,auto finance and the after-market services,and is now transforming into the 3.0 platform model. Cango seeks to reshape the relationships among people,goods and marketplaces for auto transactions through technology-empowered finance and closed-loop services and create value for all players along the auto value chain.

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.

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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