Cango financials

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Cango financials

We plan to use the net proceeds of this offering as follows: The foregoing represents our intentions as of the date of this prospectus with Cango financials of the use and allocation of the net proceeds of this offering based upon our present plans and business conditions, but our management will have significant flexibility and discretion in applying the net proceeds of the offering.

CANG : Summary for Cango Inc. American Depositary - Yahoo Finance

The occurrence of unforeseen events or changed business conditions may result in application of the proceeds of this offering in a manner other than as described in this prospectus. To the extent that the net proceeds we receive from this offering are not immediately applied for the above purposes, we intend to invest our net proceeds in short-term, interest bearing, debt instruments or bank deposits.

In utilizing the proceeds of this offering, we, as an offshore holding company, are permitted under PRC laws and regulations to provide funding to our PRC subsidiary only through loans or capital contributions and to our consolidated VIE only through loans. Subject to satisfaction of applicable government registration and approval requirements, we may extend inter-company loans to our PRC subsidiary or make additional capital contributions to our PRC subsidiary to fund its capital expenditures or working capital.

We cannot assure you that we will be able to obtain these government registrations or approvals on a timely basis, if at all. The automotive transaction industry in China is large yet competitive. We compete against automotive transaction platforms that connect various players across the automotive transaction value chain in automotive and automotive-related transaction facilitation.

Within automotive financing as a subset of this, we compete against players such as Yixin Group and Uxin Group. We may also in the Cango financials face competition from new entrants that will increase the level of competition. We anticipate that more established companies, including technology companies that possess large, existing user bases, substantial financial resources, sophisticated technological capabilities and established distribution channels may also enter the market in the future.

As a leading automotive transaction service platform in China, we believe that our self-reinforcing platform, end-to-end service model, large and powerful dealer network and visionary and experienced management team make our platform more attractive and efficient to each type of participants we collaborate with, providing us with a competitive advantage over existing and potential competitors.

Company Description Transform automotive and mobility markets with data and technology.

Cango financials

We are a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers and other industry participants. According to the Oliver Wyman Report, we cover the largest number of new car dealers in China, and the outstanding balance of financing transactions we facilitated was the largest among automotive transaction service platforms in China as of December 31, As of March 31,our platform connected 37, registered dealers, 11 third-party financial institutions and 29 other industry participants, including OEMs, online advertising platforms and insurance brokers and companies, and had servedcar buyers cumulatively since inception.

Our platform model puts us in a unique position to add value for our platform participants and business partners as the mobility market in China continues to grow and evolve. We have extensive, technology-enabled service offerings along the automotive value chain, which enable us to attract more participants to our platform and enhance engagement of existing participants.

Our services primarily consist of: We generate substantially all of our revenue from service fees for providing automotive financing facilitation, and to a lesser degree from service fees and other income from providing automotive transaction facilitation and after-market services facilitation.

The diagram below illustrates the various services that our platform provides to the platform participants. For financial institutions, we offer integrated solutions that support the full life cycle of automotive financing transactions, including credit origination, credit assessment, credit servicing and delinquent asset management services.

We have established in-depth collaboration with a number of third-party financial institutions, and we do not bear credit risk under our arrangement with two of such financial institutions, Jincheng Bank, which was our related party until Septemberand Jiangnan Rural Commercial Bank.

On July 6,we entered into a strategic cooperation agreement with the head office of ICBC, the largest bank in the PRC by total assets, to provide OEM-subsidized and non-subsidized automotive financing solutions primarily in tier-one and tier-two cities.

We believe our cooperation with ICBC will enable us to further penetrate such cities and consolidate our position as a leading automotive transaction service platform. Funding for such financing solutions is provided by either third-party financial institutions or Shanghai Autohome, a provider of financing leases which will become our wholly-owned consolidated subsidiary upon the completion of the Acquisition.

We also provide car buyers with value-added services, such as assistance with administrative procedures associated with car purchasing and financing. We facilitated the financing of 97, new and used car purchases with a total amount of financing transactions of RMB5.

In the three months ended March 31, andthe amount of financing transactions funded by Jincheng Bank was RMB5. In the three months ended March 31, andrevenues attributable to our collaboration with Jincheng Bank, including fees received from car buyers in the relevant transactions, was RMB We provide automotive transaction facilitation services primarily to dealers and car buyers.

We operate a digital automobile trading platform, which enables our registered dealers to access additional car sourcing channels while enjoying our value-added services including logistics and warehousing support, and we collaborate with online automotive advertising platforms to help prospective car buyers find suitable cars in our dealer network while providing them with our financing solutions.

Cango financials

We also provide after-market services facilitation services to car buyers, which currently mainly involve facilitating the sale of insurance policies. We continue to explore opportunities to facilitate other after-market services on our platform, including additional types of insurance, extended warranties, car customization, maintenance and repair, and personal wealth management products.

Our strong dealership network is a critical component of our service platform.Cango, Inc. (Cayman island) is a holding company, which engages in the development and operation of automotive transaction service platform for connecting dealers, financial institutions, and car. Cango Financials Words | 13 Pages CanGo Analysis Final Report Lucrative Strategies Consulting Executive Summary This consulting report concerns CanGo’s attempt to establish new business ventures to enhance the vitality of the organization through entering the enormous electronic gaming industry that is rapidly expanding.

First Look At Cango's $ Million IPO - Cango, Inc. Cl A ADS (NYSE:CANG) | Seeking Alpha

View the basic CANG stock chart on Yahoo Finance. Change the date range, chart type and compare Cango Inc. American Depositary against other companies. CanGo Financial Analysis Report The success of a business depends on its ability to remain profitable over the long term, while being able to pay all its financial obligations and earning above average returns for its shareholders.

This is made possible if the business is able to maximize on available opportunities and very efficiently and effectively use the resources it has to create maximum value for all involved .

Cango Financials; Cango Financials. Words Mar 8th, 13 Pages. CanGo Analysis Final Report Lucrative Strategies Consulting Executive Summary This consulting report concerns CanGo’s attempt to establish new business ventures to enhance the vitality of the organization through entering the enormous electronic gaming industry that is.

Financial analysis of CanGo CanGo has been growing rapidly ever since its formation. It experienced a greater than expected growth in revenues. However, the company is faced with some financial difficulties and so there is a need to take certain financial decisions. Also, it faces problems of controlling logistics related to growth.

CANG Stock Price & News - Cango Inc. ADR - Wall Street Journal