Dear Cango associates,

On the 10^th anniversary of our company’s establishment,

I believe that like us, you are excited and highly expectant!

Ten years’ entrepreneurial endeavors have been no walk in the park.

Ten years ago, we started at Hi-Field Garden with a small team of ten associates. 

Since then, our steady development has led us to international stock exchanges,

and we have grown into a public company recognized by the market.

We have come a long way, and every time we look back on it, we are reaffirmed in our belief that

the strength born of the combination of being “down-to-earth” and “driven”

is the core element carrying us to where we are today and making us who we are.

Looking back on the past ten years, we know that we have worked hard and been rewarded with luck.

I would like to thank the starting members,

thank all of the Cango associates who have been with us all the way,

thank our strategic shareholders,

thank all of our partners,

and thank the collaborating distributors in the Cango network.

It is your companionship, trust and support

that has helped Cango weather storms and stand stronger!

As we review our past and envision our future,

we feel deeply the changing tides and pressure from the current macro environment.

It is the best of times, it is the worst of times.

Pains and struggles, baptism by market competition, upgrading of the old with the new---

all of these will energize the spawning of new trends and new opportunities!

We have always kept close tabs on industry development and changes to the trends of customers’ potential needs.

Learning and exploring as a team, we have gradually and clearly identified brand-new growth opportunities for the future,

that is, we will be metamorphosing from the auto industry’s financial service provider to builder of new auto retail models!

Cango will stay committed to providing consumers with the best services,

and by offering simple and pleasant auto purchase experience, it will become consumers’ No. 1 choice of auto purchase service platform with brand-new auto trade models.

 This is the mission, and vision, for all Congo associates for the next ten years!

At the same time, we are convinced that a strong organization must have clearly- defined principles and beliefs!

To support Cango’s brand-new mission and vision for the next ten years,

we must work together to identify core values that all Cango associates can relate to.

After months’ teamwork and soul-searching, we have made choices that will strike a chord with each and every one of us!

These choices will be the beacon correctly guiding Cango as it continues its navigation,

the reference for standing by a difficult decision made from the heart,

and more important, the spiritual source enabling the Cango corps for the next ten years’ endeavors.

As we move forward, the five core values for Cango associates are:

01 Driven by mission---that’s how we succeed!

Meaning

Self-realization after setting goals!

Self-driven and self-disciplined after committing to your job!

Extended Meaning

Do it flawlessly when doing your job!

Always provide customers with more convenience.

Be your own decision-maker. Lead by example no matter when or where!

Focus more on the success or failure of what you are doing, and less on your temporary gain or loss.

Have the courage to try and possibly fail in the right direction.

02 Embracing challenges---that’s how we pursue excellence!

Meaning

Be strict with others, and be even stricter with yourself!

The more challenging something is, the more valuable!

Extended Meaning

Have the courage to leave your comfort zone.

Excise independent thinking, sound judgment and good execution. Have the courage to say “No”.

Having the highest expectations for others equates having the lowest standards for yourself. 

Volunteer for challenging jobs, because those are valuable jobs.

The more difficult a choice is, the more reason you have to face it directly.

03 Striving for growth---that’s how we reach stability and maturity!

Meaning

Be curious and open-minded at the same time! Be good at both listening and reasoning!

Do an even better job today than yesterday!

Extended Meaning

Face the unknown with excitement.

Be an empty cup and a sponge.

Be willing to see yourself from other people’s perceptives so as to catch what you might have missed otherwise.

Always set for yourself standards exceeding other people’s expectations.

See the end as the beginning and never be satisfied with the way things are.

04 Creating value---that’s how we stay committed to our goals!

Meaning

Save the simple for your partners and customers and the challenging for yourself.

Cheer for the processes and reward the results!

Extended Meaning

Value added can be found beyond what is routine! Distinguish yourself even when you are doing the same job as others!

Be ready to share experience, because experience that can be learnt from translates into value output.

Have the courage to make mistakes and take on responsibilities, because that’s how value is explored.

Engage in collaboration with the mindset of benefiting others.

Focus on processes while envisioning results.

05 Respecting individuality---that’s how we become stronger as a team!

Meaning

Embrace differences and integrate them into the eventual complete entity.

Treat others the way you would like to be treated and see others the way they would like to be seen.

Extended Meaning

Give each individual ample room and opportunities for self-expression.

Make your goals and expectations known, and do your job with compassion and enthusiasm.

Be willing to understand others and to be understood.

Look for each individual’s strengths and utilize those strengths.

Embrace conflicts because conflicts lead to consensus. Be different but still a harmonious part of the diversified and complete organization.

Besides the five core values, all Cango associates must uphold our most basic and long-time value, which is integrity,

because it dictates whether we can survive, and thrive, in the industry!

Dear associates, ten years ago today, we set off chasing our dream, fearless. 

And as of this moment ten years later, we have embarked on a new journey, committed as ever before!

It is upon us all to bring to life Cango’s brand-new blueprint for the next ten years!

Therefore, let us set sail and brave the winds and storms in an era of infinite changes and possibilities!

Thank you!

Cango Group Founding Partners

Zhang Xiaojun, Lin Jiayuan

September 1^st, 2020