SHANGHAI, Aug. 4, 2020 /PRNewswire/ -- Cango Inc.
("Cango" or the "Company") (NYSE: CANG), a leading automotive
transaction service platform in China, today announced that the Company
received the "Best Auto Finance Risk Management Innovation Award"
at the 5th Annual China Auto Finance International
Summit, which took place in Shanghai,
China on July 30, 2020.
As a leading company in China's
auto finance market, Cango has served the industry for a decade
while continuing to grow and explore new markets and new
technologies. Based on machine algorithms, artificial intelligence
and big data, Cango has independently developed its core risk
control system, aiming to manage dealers' decision-making process,
anti-fraud, credit risk, GPS early warning and asset disposal.
Through this multi-dimensional and comprehensive risk control
mechanism, Cango uses advanced technologies to support post-loan
management, and explore innovative post-loan management methods,
including the use of social media, all in an effort to help
Cango-facilitated auto loans continue to perform well.
Over the past year, the entire auto finance industry has
undergone structural adjustments, with the COVID-19 pandemic making
the already sluggish automotive market a more difficult environment
to navigate. Facing these multiple challenges, the auto finance
industry is working diligently to continue serving and supporting
the market and help players along the industry value chain weather
the storm. The acceleration of transformation from offline to
online remains a top priority for the auto finance industry. All
parties involved need to explore more advanced business models, as
well as seek cooperation in capital, technology and sales channels,
to gain a firm foothold in the fiercely competitive arena and seek
breakthroughs.
Mr. Jiayuan Lin, Chief Executive
Officer of Cango, commented, "We are honored that this award has
recognized our outstanding performance and highlighted our
relentless efforts in risk management. Since our inception, Cango
has emphasized the importance of risk control and regarded it as
the cornerstone of our business development. We endeavor to create
value for all parties along the auto transaction value chain by
strictly managing risks, actively exploring innovative risk
management methods, and offering safe and professional one-stop
auto financing services. Looking forward, we remain committed to
supporting all industry participants as they continually evolve, as
well as making further contributions to drive innovation in the
industry."
The 5th Annual China Auto Finance International
Summit was hosted by Shine Consultant International and supported
by China Auto Finance Association. Over 150 industry leaders
attended the summit, more than 20 experts from the governments,
industry associations, global leading institutions delivered
speeches. Nearly 200 distinguished guests gathered together,
sharing new ideas, interpreting the industry's latest policies,
reviewing the key issues for the industry's sustainable development
and exploring ideas and solutions for the industry development.
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.5579
Email: ir@cangoonline.com
Emilie Wu
The Piacente Group, Inc.
Tel: +86 21 6039 8363
Email: ir@cangoonline.com
View original
content:http://www.prnewswire.com/news-releases/cango-inc-wins-best-auto-finance-risk-management-innovation-award-at-the-5th-annual-china-auto-finance-international-summit-301105374.html
SOURCE Cango Inc.