Cango Inc. (CANG) Q4 2024 Earnings Call

Cango Inc. (NYSE:CANG) Q4 2024 Results Earnings Conference Call March 6, 2025 8:00 PM ET

Company Participants

Jiayuan Lin - Founder and Chief Executive Officer
Yongyi Zhang - Chief Financial Officer

Conference Call Participants

Pingyue Wu - CITIC Securities
Emerson Zhao - Goldman Sachs
Ming Zi Cai - Minsheng Securities

Operator

Good morning and good evening, everyone. Welcome to Cango, Inc.'s fourth quarter and full year 2024 earnings conference call. At this time, all participants are in a listen-only mode. This call is also being broadcast live on the company's IR website.

Joining us today are Mr. Jiayuan Lin, Chief Executive Officer, and Mr. Yongyi Zhang, Chief Financial Officer of the company.

Following management's prepared remarks, we will conduct a Q&A session.

Before we begin, I refer you to the Safe Harbor Statement and the company's earnings release, which also applies to the conference call today, as management will be making forward-looking statements.

With that said, I am now turning the call over to Mr. Jiayuan Lin, CEO of Cango. Please go ahead, sir.

Jiayuan Lin

[Foreign Language]

Hello, everyone, and welcome to Cango's fourth quarter and full year 2024 earnings call.

[Foreign Language]

[Foreign Language] 2024 was a milestone year for Kango, marking another pivotal transformation and growth phase for the company while ushering in new development opportunities. Since our inception, Cango has mitigated multiple challenges, including macroeconomic downturns, the impact of COVID-19 pandemic, and profound shifts across the automotive industry. Despite the ever evolving external landscape, we have remained committed to developing team market insights and agile business strategies, ensuring our continued adaptability and resilience.

[Foreign Language] Since 2021, systematically refined our business structure, placing a strong emphasis on loan collection and post-loan management for outstanding loans, while strategically transitioning our core business from auto-financing facilitation to automotive transaction services. Through a series