On the Record · Cango
Cango acquisitions, on the record
The businesses Cango bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Shanghai ChejiaWord for word“At the end of September 2018, the Group completed the acquisition of Shanghai Chejia.” 20-F for 2023 | acquisition | At the end of September 2018 | — |
Shanghai Quanpin Automobile Sales Co., Ltd., which wholly owns Fushun Insurance Brokerage Co., Ltd.Word for word“In 2019, the Group acquired Shanghai Quanpin Automobile Sales Co., Ltd., which wholly owns Fushun Insurance Brokerage Co., Ltd., to operate the insurance brokerage business.” 20-F for 2023 | acquisition | In 2019 | — |
on-rack crypto mining machines with an aggregate hashrate of 32EHWord for word“We completed the acquisition of crypto mining machines with an aggregate hashrate of 32EH for a total purchase price of US$256 million in cash in the same month.” 20-F for 2024 | acquisition | — | US$256 million in cash |
crypto mining machines with an aggregate hashrate of 18EHWord for word“The acquisition of crypto mining machines with an aggregate hashrate of 18EH will be paid through issuance of our shares and is expected to be completed in 2025.” 20-F for 2024 | agreed acquisition | expected to be completed in 2025 | — |
PRC Business (loan facilitations, aftermarket services, financing leasing services, domestic automobile trading and related services in the PRC)Word for word“On May 27, 2025, the Company finalized the divestment of all its business related to loan facilitations, aftermarket services, financing leasing services, domestic automotible trading and related services in the PRC (the “PRC Business”), a strategic transaction valued at approximately US$ 351.94 million in cash with Ursalpha Digital Limited.” 20-F for 2025 | divestiture | May 27, 2025 | approximately US$ 351.94 million in cash |
50-megawatt (MW) mining facility in Georgia, the United StatesWord for word“To optimize our energy infrastructure, we acquired a 50-megawatt (MW) mining facility in Georgia, the United States, for a total cash consideration of US$19.5 million in August 2025.” 20-F for 2025 | acquisition | August 2025 | US$19.5 million |
on-rack crypto mining machines with an aggregate hashrate of 32 EHWord for word“We completed the acquisition of crypto mining machines with an aggregate hashrate of 32 EH for a total purchase price of US$256 million in cash in the same month.” 20-F for 2025 | acquisition | — | US$256 million in cash |
crypto mining machines with an aggregate hashrate of 18 EHWord for word“In June 2025, we completed the remaining portion of our previously announced acquisition of crypto mining machines with an aggregate hashrate of 18 EH through the issuance of 146,670,925 Class A ordinary shares.” 20-F for 2025 | acquisition | June 2025 | 146,670,925 Class A ordinary shares |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2018-12-31 | $15.8 million | $21.1 million |
| 2020-12-31 | — | $563,995 |
| 2021-12-31 | −$267,565 | $563,995 |
| 2022-12-31 | $0 | — |
Read from Cango’s annual reports (20-F for 2025, 20-F for 2024, 20-F for 2023) and the financial data it files with the SEC, as of 2026-04-10. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.