 SHANGHAI, Aug. 19, 2021 PRNewswire -- Cango Inc. NYSE: CANG Cango or the Company, a leading automotive transaction service platform in China, today announced that its board of directors has authorized a new share repurchase program the New Share Repurchase Program under which the Company may repurchase up to US50 million worth of its outstanding i American depositary shares ADSs, each representing two Class A ordinary shares, andor ii Class A ordinary shares over the next 12 months starting from August 26, 2021. On March 2, 2021, the Company announced a share repurchase program the Existing Share Repurchase Program under which the Company may repurchase up to US50 million worth of its outstanding ADSs andor Class A ordinary shares. 