PANews reported on December 29th that, according to an announcement by Cango Inc., its major shareholder, Enduring Wealth Capital Limited (EWCL), will subscribe for 7 million Class B ordinary shares for $10.5 million in cash, each with 20 votes. Upon completion of the transaction, EWCL's shareholding will increase from 2.81% to approximately 4.69%, and its voting rights will rise from 36.68% to 49.61%. The transaction is expected to close in January 2026, subject to approval from the NYSE.
