Cango shareholders approve possible share consolidation of up to 10:1

Cango Inc. (NYSE: CANG) shareholders approved two resolutions at an extraordinary general meeting held on June 24, 2026, including authorization for a potential share consolidation at a ratio of up to 10:1.

The first resolution authorizes the board of directors to consolidate the company's Class A and Class B ordinary shares, each with a par value of $0.0001, at a ratio ranging from no consolidation to a maximum of 10:1. The board has up to 15 days from the meeting date to determine whether to proceed and, if so, to set the final ratio and effective date. Fractional shares resulting from any consolidation would be cancelled without compensation to shareholders.

The second resolution, contingent on the consolidation taking effect, approves the adoption of a fifth amended and restated memorandum and articles of association to reflect any share consolidation changes. The resolution text was included in a proxy statement filed with the Securities and Exchange Commission on May 22, 2026.

The board has not yet decided whether to proceed with the consolidation or determined a final ratio or effective date. The company said it will issue a further announcement once those decisions are made.

Cango describes itself as a Bitcoin mining company with operations across North America, the Middle East, South America, and East Africa. The company also operates an online used car export business through AutoCango.com.

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