BEIJING, November 29, 2019 -- Cango, Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, has been named to the list for the Top 20 Most Innovative Automotive Fintech and Service Providers Worldwide in 2019. Conducted by EqualOcean and the Auto Industry & Financial Services Committee of the Shanghai Services Federation, the ranking aims to cultivate innovation and win-win relationships throughout the global auto financing industry. These results also serve as a benchmark to guide the development of consumer financing services in the global auto industry. The committee bases its analysis on each company’s industry influence, technology application, innovation performance, competitive strengths, market recognition, brand reputation, and future potential to select those auto financing technology service providers that best represent the industry for their top 20 list. Notably, this group of world-class service providers included the likes of CarMax Inc., Carvana Co., and Dealertrack Technologies, Inc. in 2019.

The committee stated that Cango has reshaped auto financing services and achieved outstanding performance as a channel service provider through its combination of auto financing with big data technology and other innovations. Cango’s innovative efforts as a technology-driven auto financing service platform have effectively led the way for this traditional industry.