Cango Inc. Reports Fourth Quarter and Full Year 2023 Unaudited Financial Results
SHANGHAI, March 11, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the fourth quarter and full year of 2023.
- SHANGHAI, March 11, 2024 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its unaudited financial results for the fourth quarter and full year of 2023.
- "With keen insight into market conditions and industry trends, Cango strategically consolidated its two platforms, 'Cango Haoche' for new cars and 'Cango U-car' for used cars, into a single integrated 'Cango U-car' APP in 2023.
- Mr. Yongyi Zhang, Chief Financial Officer of Cango, stated, "China's uneven economic recovery impacted our business throughout 2023.
- Net recovery on provision for credit losses in the fourth quarter of 2023 was RMB31.2 million (US$4.4 million).