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MARKETS / NYSE / CANG
NYSE · FINANCE SERVICES · MID CAP

Cango Inc. CANG

10 fiscal years on record · CNY · FY2025 reported · SEC filings only
$688.1M
▲ 665.3% YoY
$-622.0M
▼ 1593.2% YoY
CNY -119.2M
In brief

What this company does

Its mining operations span over 40 sites across Asia, North America, Africa and others. As of December 31, 2025, its deployed hash rate was 50 EH. It also continues to operate an online international automobile trading business through AutoCango.com. As of December 31, 2025, substantially all of its Bitcoin mining income was derived through a single third-party mining pool operator, Antpool. Its corporate headquarters are located in Dallas, Texas, where it leases approximately 27,952 square meters of office space. It began operations in August 2010 through Shanghai Cango in China.

Written from the business description in Cango Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 10 April 2026. Every sentence was checked against that document before publication.

Growth
USD 688.1M
Revenue, FY2025 · full 10-year series below
Revenue CNY B Net income CNY B
FY2022 · Revenue 2.0 · Net income -1.1
2.0B-0.4B-0.8B2016201720182019202020212022202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−90 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -63.5% · Net -90.4%
50%100%150%-50%2016201720182019202020212022202320242025
ROE
FY2025 · ROE -130.8%
20%40%-50%-100%2016201720182019202020212022202320242025

Each CNY of equity lost 131 cents this year.

Cash & shareholders
CNY 753,872.00
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF -119.2
200.0M400.0M-250.0M-500.0M2016201720182019202020212022202320242025
Net buybacks CNY B Dividends CNY B
FY2025 · Dividends — · Net buybacks 0.0
0.8B1.6BDividendsNet buybacks201620182019202020212022202320242025

CNY 753,872.00 in buybacks went back to shareholders in a year without profit.

Total assetsUSD 1.1B
EquityUSD 397.0M
CashUSD 41.2M
Gross debtUSD 557.6M
Net debtUSD 516.3M
Current ratio0.71×

Net debt stands at 130% of equity.

The 10-year record
10 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016
Revenue CNY B··1.72.03.92.11.41.11.10.4
Operating income CNY B···−0.9−0.00.30.30.30.50.2
EBITDA CNY B−0.30.0−0.0−0.9−0.00.30.30.30.50.2
Income tax CNY B·0.00.10.20.00.40.10.10.10.1
Net income CNY B···−1.1−0.03.40.40.30.30.1
Free cash flow CNY B−0.1−0.0·−0.6−0.4−0.60.40.20.60.1
EPS, diluted CNY ·····11.091.291.081.350.51
Dividend / sh CNY ··········
Payout %···−168−111828669·1
ROE %−130.87.7−0.9·−0.148.67.323.8··
Shares out B·······0.220.12·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 4 failures in 28 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 57 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente4 failures
ActivityFinance Services
Listed onNYSE
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2016

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