SHANGHAI, July 26, 2019 /PRNewswire/ -- Cango, Inc. (NYSE:
CANG) ("Cango" or the "Company"), a leading automotive transaction
service platform in China, today
announced that its board of directors has appointed Mr. Rong
Liu as an independent director and a member of the Company's Audit
Committee.
Mr. Liu has decades of experience in the automotive industry. He
served as a deputy chief accountant and executive director of the
finance department of SAIC Group Co., Ltd. from December 2004 to May
2013. From March 2004 to
December 2004, he served as a deputy
chief accountant and manager of the finance department of Shanghai
Automotive Industry Corporation (Group) Corp. From April 1990 to March
2004, he served as a manager assistant and deputy manager of
Shanghai Automotive Industry Corporation (Group) Corp. He currently
serves as an independent director at Kehua Holdings Co., Ltd.,
Kuangda Technology Group Co., Ltd., Shanghai Jialeng Songzhi
Automobile Air Conditioning Co., Ltd. and Shanghai Jingzhi
Industrial Co., Ltd. He also serves as a supervisor at Yangzhou
Dongsheng Auto Parts Co., Ltd. In 1999, Mr. Liu completed a
graduate program in international economy at China Eastern Normal
University.
Commenting on the announcement, Mr. Jiayuan Lin, Chief Executive Officer of Cango,
stated, "We are delighted to welcome Mr. Rong Liu to join Cango. I
look forward to working with him and I believe he will add value to
the Company by leveraging his extensive experience in the
automobile industry and his expertise in accounting to strengthen
our internal controls and corporate governance."
In addition, Mr. Yongyi Zhang has
ceased to serve as a member on the Audit Committee since
July 2019, and therefore, the Audit
Committee will consist of three independent directors, including
Mr. Chi Ming Lee, Mr. Dongsheng Zhou and Mr. Rong Liu.
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.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the "Business Outlook" section and quotations from
management in this announcement, contain forward-looking
statements. Cango may also make written or oral forward-looking
statements in its periodic reports to the SEC, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Cango's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Cango's goal and strategies; Cango's expansion plans;
Cango's future business development, financial condition and
results of operations; Cango's expectations regarding demand for,
and market acceptance of, its solutions and services; Cango's
expectations regarding keeping and strengthening its relationships
with dealers, financial institutions, car buyers and other platform
participants; general economic and business conditions; and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included in Cango's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and Cango does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
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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SOURCE Cango Inc.