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Mr. Jiayuan Lin, Chief Executive Officer of Cango, commented, "Within a complex external operating environment, COVID-19 resurgences continued to affect China's automotive industry. Despite these challenges, we delivered a solid performance in the third quarter with total revenues reaching RMB416.4 million, of which revenues from car trading transactions accounted for over 83.4%

Cango Inc. Reports Third Quarter 2022 Unaudited Financial Results

Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the third quarter of 2022

By AP News
Published - Nov 29, 2022, 07:17 PM ET
Last Updated - Mar 29, 2024, 03:22 PM EDT

SHANGHAI, Nov. 29, 2022 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the third quarter of 2022.

Third Quarter 2022 Financial and Operational Highlights

  • Total revenues were RMB416.4 million (US$58.5 million), compared with RMB800.6 million in the same period of 2021. Car trading transactions revenues were RMB347.2 million (US$48.8 million), or 83.4% of total revenues in the third quarter of 2022, compared with RMB429.2 million in the same period of 2021.
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