{"id":28410,"date":"2025-07-23T19:58:29","date_gmt":"2025-07-23T19:58:29","guid":{"rendered":"https:\/\/www.hotelsalepage.com\/feed\/cision-pr-newswire\/cango-inc-announces-completion-of-secondary-acquisition-and-appointment-of-new-leadership-team\/"},"modified":"2025-07-23T19:58:29","modified_gmt":"2025-07-23T19:58:29","slug":"cango-inc-announces-completion-of-secondary-acquisition-and-appointment-of-new-leadership-team","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=28410","title":{"rendered":"Cango Inc. Announces Completion of Secondary Acquisition and Appointment of New Leadership Team"},"content":{"rendered":"\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

HONG KONG<\/span><\/span>, July 23, 2025<\/span><\/span> \/PRNewswire\/ — Cango Inc. (NYSE: CANG) today announced its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the “Board”) and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments.<\/p>\n

\n<\/div>\n

On July 23, 2025<\/span>, the Board appointed (i) Mr. Xin Jin<\/span> as Chairman of the Board and Non-Executive Director, (ii) Mr. Peng Yu<\/span> as CEO and Director, (iii) Mr. Chang-Wei Chiu<\/span> as Director, (iv) Mr. Yongyi Zhang<\/span> as CFO and (v) Mr. Simon Ming Yeung Tang<\/span> as CIO To strengthen governance, the Board also appointed (i) Mr. Chi Ming Lee<\/span>, Independent Director, as a member of the Compensation Committee and Nominating and Corporate Governance Committee, (ii) Mr. Yanjun Lin<\/span>, Independent Director, as Chairman of the Compensation Committee and member of the Nominating and Corporate Governance Committee, and (iii) Mr. Haitian Lu as Chairman of the Nominating and Corporate Governance Committee and member of the Compensation Committee. The Board also accepted the resignations of Mr. Xiaojun Zhang<\/span> as Director and Chairman, and Mr. Jiayuan Lin<\/span> as CEO, Interim CFO, and Director. All changes are effective immediately.<\/p>\n

Mr. Peng Yu<\/span>, CEO and Director, commented, “This leadership team gives\u00a0Cango the right mix of skills to execute our next phase of growth. Having successfully transformed into a Bitcoin miner, we have already made remarkable progress in the past 7 months by becoming one of the largest Bitcoin miners in the world. With a strong balance sheet and clear long-term vision, our collective experience will help us scale beyond the 50 EH\/s already deployed, not only safeguarding but strategically growing our treasury of more than 4,000 Bitcoins to maximize shareholder value. We will begin developing sustainable, high-performance computing opportunities while strategically expanding upstream into dedicated power resources especially green energy that will create lasting value for shareholders and drive further growth.”<\/p>\n

Mr. Xiaojun Zhang<\/span> and Mr. Jiayuan Lin<\/span> resigned as co-founders coinciding with a secondary sale of 10 million Class B shares to Enduring Wealth Capital Limited for US$70 million<\/span>. They converted their remaining Class B shares into Class A shares, now holding 18.54% of total outstanding shares and 12.07% of voting power. Enduring Wealth Capital Limited now holds about 2.82% of outstanding shares and 36.73% of voting power..<\/p>\n

Full article: https:\/\/ir-image.cangoonline.com\/ir-documents\/2025-07-23_Cango%20Inc.%20Announces%20Completion%20of%20Secondary%20Acquisition%20and%20Appointment%20of%20New%20Leadership%20Team.pdf<\/a><\/p>\n

Investor Relations Contact<\/b><\/p>\n

Juliet YE, Head of Communications
Cango Inc.
Email: ir@cangoonline.com<\/a>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

HONG KONG<\/span><\/span>, July 23, 2025<\/span><\/span> \/PRNewswire\/ — Cango Inc. (NYSE: CANG) today announced its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the “Board”) and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments.<\/p>\n

\n<\/div>\n

On July 23, 2025<\/span>, the Board appointed (i) Mr. Xin Jin<\/span> as Chairman of the Board and Non-Executive Director, (ii) Mr. Peng Yu<\/span> as CEO and Director, (iii) Mr. Chang-Wei Chiu<\/span> as Director, (iv) Mr. Yongyi Zhang<\/span> as CFO and (v) Mr. Simon Ming Yeung Tang<\/span> as CIO To strengthen governance, the Board also appointed (i) Mr. Chi Ming Lee<\/span>, Independent Director, as a member of the Compensation Committee and Nominating and Corporate Governance Committee, (ii) Mr. Yanjun Lin<\/span>, Independent Director, as Chairman of the Compensation Committee and member of the Nominating and Corporate Governance Committee, and (iii) Mr. Haitian Lu as Chairman of the Nominating and Corporate Governance Committee and member of the Compensation Committee. The Board also accepted the resignations of Mr. Xiaojun Zhang<\/span> as Director and Chairman, and Mr. Jiayuan Lin<\/span> as CEO, Interim CFO, and Director. All changes are effective immediately.<\/p>\n

Mr. Peng Yu<\/span>, CEO and Director, commented, “This leadership team gives\u00a0Cango the right mix of skills to execute our next phase of growth. Having successfully transformed into a Bitcoin miner, we have already made remarkable progress in the past 7 months by becoming one of the largest Bitcoin miners in the world. With a strong balance sheet and clear long-term vision, our collective experience will help us scale beyond the 50 EH\/s already deployed, not only safeguarding but strategically growing our treasury of more than 4,000 Bitcoins to maximize shareholder value. We will begin developing sustainable, high-performance computing opportunities while strategically expanding upstream into dedicated power resources especially green energy that will create lasting value for shareholders and drive further growth.”<\/p>\n

Mr. Xiaojun Zhang<\/span> and Mr. Jiayuan Lin<\/span> resigned as co-founders coinciding with a secondary sale of 10 million Class B shares to Enduring Wealth Capital Limited for US$70 million<\/span>. They converted their remaining Class B shares into Class A shares, now holding 18.54% of total outstanding shares and 12.07% of voting power. Enduring Wealth Capital Limited now holds about 2.82% of outstanding shares and 36.73% of voting power..<\/p>\n

Full article: https:\/\/ir-image.cangoonline.com\/ir-documents\/2025-07-23_Cango%20Inc.%20Announces%20Completion%20of%20Secondary%20Acquisition%20and%20Appointment%20of%20New%20Leadership%20Team.pdf<\/a><\/p>\n

Investor Relations Contact<\/b><\/p>\n

Juliet YE, Head of Communications
Cango Inc.
Email: ir@cangoonline.com<\/a>\u00a0<\/p>\n

<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-28410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/28410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28410"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/28410\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}