Cango’s ownership, board take shape as bitcoin mining transformation nears completion
The company will be controlled by two asset managers tied to Singapore’s Antalpha Ventures, while Cango’s co-founders’ voting rights will drop to 12.07% Key Takeaways: Enduring Wealth, a company tied…
Cango takes ‘Mine and Hold’ strategy in its young bitcoin business
The auto trader-turned-bitcoin miner has minted 2,944.8 bitcoins since entering the business last November, but has yet to sell any of those despite recent market volatility Key Takeaways: Cango owned…
Uxin gets new cash injection as its used car superstores gain speed
The company said it closed a deal first announced last September to sell new stock to shared ride operator Dida for $7.5 million Key Takeaways: Uxin has received $7.5 million…
BRIEF: BMW partner Brilliance Auto’s profit tumbles 60%
Automaker Brilliance China Automotive Holdings Ltd. (1114.HK) said on Sunday its profit last year fell 60%, mainly due to weak performance of its joint venture with German auto giant BMW…
BRIEF: Merger rumors swirl around automakers Dongfeng, Changan
Concurrent restructuring plans announced by car-making listed units of Dongfeng Motor Corp. and China South Industries Group have led to speculation that the two large state-owned automakers may be preparing…
BRIEF: Guangzhou Auto’s sales, output plunge in October
Guangzhou Automobile Group Co. Ltd. (2238.HK; 601238.SH) said on Thursday it sold 185,800 vehicles in October, down 17.23% year-on-year, with sedan sales plummeting 23.65%. Its production volume for the month…
Cango builds up global capabilities in search of new direction
The car trader’s export-oriented AutoCango.com site is rapidly building up traffic, logging 370,000 page views since its launch in March Key Takeaways: Cango is aggressively building up a customer base…
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