Cango Inc. announced that the Company launched its Cango Haoche mobile application (the "APP") on June 20, 2022. Built on the success of its Cango Haoche WeChat mini-program, which was introduced last year, the APP marks an important milestone for Cango in transforming its business into a one-stop automotive transaction services platform empowering the whole automotive chain. With this new APP, Cango aims to meet dealers' evolving and diverse demands more promptly and accurately with a stabler and more robust system, as well as smoother and richer functionality.

The APP provides end-to-end services to dealers, especially small- and medium-sized dealers in lower-tier markets, ranging from steady vehicle sources and nationwide warehousing and logistics services to support for financial and insurance services. In addition to the WeChat mini-program's original services such as online car search, vehicle source listing and model search, the new APP supports real-time inventory inquiries for proprietary vehicles, enabling registered dealers to access inventory status and make decisions accordingly. Furthermore, Cango optimized the APP's online payment feature, providing dealers with greater convenience and security for their online transactions.

Going forward, the Cango Haoche APP and WeChat mini program will run in parallel. Dealers can easily conduct car searches, check vehicle sources and review trending recommendations of proprietary car models on the mini-program, while accessing increasingly efficient empowerment services and functions on the APP, strengthening user stickiness. To provide a more interactive experience and further increase user loyalty, the Company will periodically launch discounts, coupons, gifts and other special offers through the APP.