Cango announced it has received a new equity investment of $10.5 million from EWCL.

According to Odaily Planet Daily, Cango announced that Enduring Wealth Capital Limited (EWCL) has decided to increase its stake in Cango Class B ordinary shares. EWCL holds approximately 36.68% of the total voting rights of the company's issued shares and has decided to subscribe for additional Class B ordinary shares in cash, thereby increasing its investment in the company.

Pursuant to the investment agreement signed between the Company and EWCL on December 29, 2025, the Company will issue and deliver 7,000,000 Class B ordinary shares to EWCL, each with 20 votes. EWCL will subscribe for and purchase these shares for a total purchase price of US$10.5 million, or US$1.50 per share (the “Proposed Investment”).

Upon completion of the proposed investment, EWCL's shareholding in the company is expected to increase from approximately 2.81% to approximately 4.69% (percentage of total issued shares). Accordingly, EWCL's voting rights are expected to increase from approximately 36.68% to approximately 49.61% (percentage of total issued shares).