Odaily Planet Daily News: Today, Cango Inc. announced that its board of directors has approved the termination of the American Depositary Receipt (ADR) program, at which time the ADS will be cancelled and the Class A common stock will be directly listed on the New York Stock Exchange (NYSE).

According to the announcement, the ADR program will terminate after the close of trading on November 14, 2025. At that time, each ADS holder will receive two Class A common shares. The Class A common shares are expected to be listed and traded on the NYSE at the opening of trading on November 17, continuing under the symbol "CANG."

Cango stated in the announcement that the structural adjustment is aimed at allowing U.S. investors to directly exercise their shareholder rights, eliminating the custody fees borne by ADS holders, and enhancing the company's attractiveness to institutional investors, further strengthening its positioning in the U.S. market.