Cango will consolidate its Class A and Class B ordinary shares on a 10-for-1 basis, effective July 20, 2026, at 5:00 P.M. Eastern Time. This reverse stock split will combine every ten shares into one share of the same class, reducing the total number of outstanding shares while maintaining the company's authorized share capital at US$100,000. The move aims to adjust the share structure without altering the overall capital base.

Following the consolidation, Cango's authorized share capital will be divided into 100,000,000 ordinary shares with a par value of US$0.001 each. This will comprise 92,067,428 Class A ordinary shares and 7,932,572 Class B ordinary shares, both carrying the same par value. The restructuring does not impact the total monetary value of the authorized capital.

Trading of Cango's Class A ordinary shares on the New York Stock Exchange will resume on a post-consolidation basis at the opening of trading on July 21, 2026. The shares will continue to trade under the existing ticker symbol 'CANG' but will be assigned a new CUSIP number, G1820C 110, to reflect the change in share structure.

No fractional shares will be issued as part of the consolidation. Shareholders entitled to fractional shares will see their holdings rounded down to the nearest whole share. Any fractional shares resulting from the process will be cancelled and returned to the pool of authorized but unissued shares without any consideration paid to the holders.

Share Structure Post-Consolidation

Cango Inc. shareholders approved a share consolidation ratio of up to 10:1 at an extraordinary general meeting held on June 24, 2026. The approval grants the Board of Directors the discretion to consolidate authorized share capital, comprising both issued and unissued Class A and Class B ordinary shares, within a range of no consolidation to a maximum ratio of 10:1. The Board must execute any consolidation within 15 days of the EGM.

The resolutions passed include an ordinary resolution for the share consolidation and a special resolution to adopt the fifth amended and restated memorandum and articles of association. The amended documents, attached as Annex A to the Proxy Statement furnished to the Securities and Exchange Commission (SEC) in a current report on Form 6-K on May 22, 2026, will reflect the share consolidation effective from the determined date.

The Board of Directors has not yet decided whether to proceed with the share consolidation, the final consolidation ratio, or the effective date. Cango Inc. stated that it will make a further announcement once the Board has made these determinations. No fractional shares will be issued; any fractional entitlement will be rounded down to the next whole share, with canceled fractions returned to the authorized but unissued share capital pool without consideration.

Cango Inc. is a Bitcoin mining company with operations spanning North America, the Middle East, South America, and East Africa. Since entering the digital asset space in November 2024, the company has activated pilot projects in integrated energy solutions and distributed AI computing. Cango also operates an online international used car export business through AutoCango.com.

The full text of each resolution is available on the company's website at ir.cangoonline.com and was included in the notice of the EGM and proxy statement furnished to the SEC on May 22, 2026.