<p>/PRNewswire/ -- Greenridge Capital 已对 Cango Inc. (NYSE: CANG)（&#34;Cango&#34; 或 &#34;公司&#34;）启动了覆盖，给予买入评级和 4.00 美元的目标价，指出 Cango 似乎 &#34;被市场低估和忽视，因为其在比特币挖矿领域的市场领先地位和轻资产模式进入高性能计算（HPC）市场。&#34;</p>
<p><img src="https://imageproxy.pbkrs.com/https://mma.prnewswire.com/media/2675436/CANG_LOGO_Logo.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="400" height="116" original-src="https://imageproxy.pbkrs.com/https://mma.prnewswire.com/media/2675436/CANG_LOGO_Logo.jpg"/></p>
<p>根据 Greenridge Capital 的报告，Cango 的交易价格低于其资产价值，这些资产包括现金流动持有和超过 6 亿美元的比特币，采用严格的 HODL 策略，全球分布的 50 EH/s 挖矿组合，以及位于美国乔治亚州的 50MW 数据中心（于 2025 年第三季度收购）。报告还指出了持续的成本降低措施，表明了运营纪律，以及 Cango 在强大的财务状况下抓住未来机会的能力。</p>
<p>展望未来，Cango 的战略是多元化收入和提升盈利能力，重点是确保对自身电力供应的控制，这是未来 AI 数据中心或比特币挖矿运营的关键战略步骤。报告强调了 Cango 的 &#34;能源 + HPC&#34; 计划，旨在扩展到灵活的能源和数据基础设施项目，提供更高的利润机会和现金生成潜力。支持这一扩展的有两个正在进行的试点项目：在阿曼的试点太阳能发电和储存项目，以及在印尼与合作伙伴共同开发的 150MW 发电设施，未来可能扩展到 300MW。预计管理层将在未来几个月内提供进一步更新。</p>
<p>Greenridge Capital 的 4.00 美元目标价基于两种方法的混合估值方法：（1）将 2026 年调整后 EBITDA 估计为 3.354 亿美元的 EV/调整后 EBITDA 倍数为 7 倍，和（2）将 2026 年稀释每股收益估计为 0.34 美元的市盈率倍数为 15 倍。这两个倍数相对于行业同行而言都是保守的。值得注意的是，这一估值尚未对 Cango 正在开发的能源基础设施项目赋予价值，随着项目里程碑的实现，这些项目可能会释放出可观的价值。</p>
<p><strong>关于 Cango Inc.</strong></p>
<p>Cango Inc. (NYSE: CANG) 主要从事比特币挖矿业务，业务战略性地分布在北美、中东、南美和东非。公司于 2024 年 11 月进入加密资产领域，受到区块链技术进步、数字资产日益普及以及其致力于多元化业务组合的推动。同时，Cango 继续通过 AutoCango.com 运营在线国际二手车出口业务，使全球客户更容易获取来自中国的高质量车辆库存。有关更多信息，请访问：www.cangoonline.com。</p>
<p><strong>安全港声明</strong></p>
<p>本公告包含前瞻性声明。这些声明是在 1995 年美国私人证券诉讼改革法案的 &#34;安全港&#34; 条款下作出的。这些前瞻性声明可以通过诸如 &#34;将会&#34;、&#34;期望&#34;、&#34;预期&#34;、&#34;未来&#34;、&#34;打算&#34;、&#34;计划&#34;、&#34;相信&#34;、&#34;估计&#34; 和类似声明的术语来识别。除了其他事项外，本公告中的 &#34;前进路线图&#34; 部分和管理层的引用包含前瞻性声明。Cango 还可能在其定期向 SEC 提交的报告、年度股东报告、新闻稿和其他书面材料中，以及其高管、董事或员工向第三方作出的口头声明中作出书面或口头的前瞻性声明。非历史事实的声明，包括关于 Cango 的信念和期望的声明，都是前瞻性声明。前瞻性声明涉及固有的风险和不确定性。一些因素可能导致实际结果与任何前瞻性声明中包含的结果存在重大差异，包括但不限于以下因素：Cango 计划终止其 ADR 计划并直接在 NYSE 上上市其 A 类普通股的潜在好处；Cango 的目标和战略；Cango 的扩展计划；Cango 的未来业务发展、财务状况和运营结果；Cango 对其解决方案和服务的需求及市场接受度的期望；一般经济和商业条件；以及与上述任何内容相关的假设。有关这些和其他风险的进一步信息包含在 Cango 向 SEC 提交的文件中。本新闻稿及附件中提供的所有信息均为本新闻稿日期的信息，Cango 不承担更新任何前瞻性声明的义务，除非法律要求。</p>
<p><strong>投资者关系联系</strong></p>
<p>Juliet Ye，传播负责人</p>
<p>Cango Inc.</p>
<p>电子邮件：ir@cangoonline.com</p>
<p>Christensen Advisory</p>
<p>电话：+852 2117 0861</p>
<p>电子邮件：cango@christensencomms.com</p>
<p>来源：Cango Inc.</p>

灿谷

<p>Greenridge Capital 已对 Cango Inc.（纽约证券交易所代码：CANG）启动了覆盖，给予买入评级，目标价为 4.00 美元。报告强调了 Cango 在比特币挖矿领域的市场领先地位、轻资产模式和强劲的财务状况。Cango 的战略包括多元化收入、提升盈利能力以及扩展到能源和数据基础设施项目。当前的估值尚未考虑开发能源项目的潜在价值。Cango 还参与了在线国际二手车出口业务</p>

<p>, /PRNewswire/ -- Greenridge Capital has initiated coverage on Cango Inc. (NYSE: CANG) (&#34;Cango&#34; or the &#34;Company&#34;) with a buy rating and US$4.00 target price, noting that Cango appears to be &#34;mispriced and overlooked by the market given its market leading Bitcoin mining status and asset-light model for entry into the high-performance computing (HPC) market.&#34;</p>
<div class="lb-trans"><p>/PRNewswire/ -- Greenridge Capital 已对 Cango Inc. (NYSE: CANG)（&#34;Cango&#34; 或 &#34;公司&#34;）启动了覆盖，给予买入评级和 4.00 美元的目标价，指出 Cango 似乎 &#34;被市场低估和忽视，因为其在比特币挖矿领域的市场领先地位和轻资产模式进入高性能计算（HPC）市场。&#34;</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://mma.prnewswire.com/media/2675436/CANG_LOGO_Logo.jpg" alt="" original-src="https://mma.prnewswire.com/media/2675436/CANG_LOGO_Logo.jpg"/></p>
<p>According to the Greenridge Capital report, Cango is trading below the value of its assets, which include liquid holdings in cash and over US$600 million in BTC held under a strict HODL strategy, a 50 EH/s globally distributed mining portfolio, and a 50MW data center in the U.S. state of Georgia (acquired in Q3 of 2025). The report also points out ongoing cost reduction measures, suggesting operational discipline, and Cango's ability to capitalize on future opportunities with its strong financial position.</p>
<div class="lb-trans"><p>根据 Greenridge Capital 的报告，Cango 的交易价格低于其资产价值，这些资产包括现金流动持有和超过 6 亿美元的比特币，采用严格的 HODL 策略，全球分布的 50 EH/s 挖矿组合，以及位于美国乔治亚州的 50MW 数据中心（于 2025 年第三季度收购）。报告还指出了持续的成本降低措施，表明了运营纪律，以及 Cango 在强大的财务状况下抓住未来机会的能力。</p>
</div><p>Looking ahead, Cango's strategy to diversify revenue and enhance profitability focuses on securing control over its own power supply, a key strategic step for future AI data center or Bitcoin mining operations. The report highlights Cango's &#34;Energy + HPC&#34; plan, which targets expansion into flexible energy and data infrastructure projects with higher margin opportunities and cash generation potential. Supporting this expansion are two pilot projects already underway: a pilot solar generation and storage project in Oman and a 150MW power generation facility in Indonesia, which it is developing with a partner and could potentially be expanded to 300MW in future. Further updates from management are expected in coming months.</p>
<div class="lb-trans"><p>展望未来，Cango 的战略是多元化收入和提升盈利能力，重点是确保对自身电力供应的控制，这是未来 AI 数据中心或比特币挖矿运营的关键战略步骤。报告强调了 Cango 的 &#34;能源 + HPC&#34; 计划，旨在扩展到灵活的能源和数据基础设施项目，提供更高的利润机会和现金生成潜力。支持这一扩展的有两个正在进行的试点项目：在阿曼的试点太阳能发电和储存项目，以及在印尼与合作伙伴共同开发的 150MW 发电设施，未来可能扩展到 300MW。预计管理层将在未来几个月内提供进一步更新。</p>
</div><p>Greenridge Capital's US$4.00 price target is based on a blended valuation approach using two methodologies: (1) an EV/Adjusted EBITDA multiple of 7x applied to a 2026 adjusted EBITDA estimate of US$335.4 million, and (2) a P/E multiple of 15x applied to a 2026 diluted EPS estimate of US$0.34. Both multiples are conservative relative to industry peers. Notably, this valuation does not yet assign value to Cango's developing energy infrastructure projects, which could unlock substantial value in the future as project milestones are achieved.</p>
<div class="lb-trans"><p>Greenridge Capital 的 4.00 美元目标价基于两种方法的混合估值方法：（1）将 2026 年调整后 EBITDA 估计为 3.354 亿美元的 EV/调整后 EBITDA 倍数为 7 倍，和（2）将 2026 年稀释每股收益估计为 0.34 美元的市盈率倍数为 15 倍。这两个倍数相对于行业同行而言都是保守的。值得注意的是，这一估值尚未对 Cango 正在开发的能源基础设施项目赋予价值，随着项目里程碑的实现，这些项目可能会释放出可观的价值。</p>
</div><p><strong>About Cango Inc.</strong></p>
<div class="lb-trans"><p><strong>关于 Cango Inc.</strong></p>
</div><p>Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. The Company entered the crypto asset space in November 2024, driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through AutoCango.com, making it easier for global customers to access high-quality vehicle inventory from China. For more information, please visit: www.cangoonline.com.</p>
<div class="lb-trans"><p>Cango Inc. (NYSE: CANG) 主要从事比特币挖矿业务，业务战略性地分布在北美、中东、南美和东非。公司于 2024 年 11 月进入加密资产领域，受到区块链技术进步、数字资产日益普及以及其致力于多元化业务组合的推动。同时，Cango 继续通过 AutoCango.com 运营在线国际二手车出口业务，使全球客户更容易获取来自中国的高质量车辆库存。有关更多信息，请访问：www.cangoonline.com。</p>
</div><p><strong>Safe Harbor Statement</strong></p>
<div class="lb-trans"><p><strong>安全港声明</strong></p>
</div><p>This announcement contains forward-looking statements. These statements are made under the &#34;safe harbor&#34; provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#34;will,&#34; &#34;expects,&#34; &#34;anticipates,&#34; &#34;future,&#34; &#34;intends,&#34; &#34;plans,&#34; &#34;believes,&#34; &#34;estimates&#34; and similar statements. Among other things, the &#34;Roadmap Forward&#34; section and quotations from management in this announcement, contain forward-looking statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Cango's plan to terminate its ADR program and list its Class A ordinary shares directly on the NYSE and potential benefits from such change; Cango's goal and strategies; Cango's expansion plans; Cango's future business development, financial condition and results of operations; Cango's expectations regarding demand for, and market acceptance of, its solutions and services; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.</p>
<div class="lb-trans"><p>本公告包含前瞻性声明。这些声明是在 1995 年美国私人证券诉讼改革法案的 &#34;安全港&#34; 条款下作出的。这些前瞻性声明可以通过诸如 &#34;将会&#34;、&#34;期望&#34;、&#34;预期&#34;、&#34;未来&#34;、&#34;打算&#34;、&#34;计划&#34;、&#34;相信&#34;、&#34;估计&#34; 和类似声明的术语来识别。除了其他事项外，本公告中的 &#34;前进路线图&#34; 部分和管理层的引用包含前瞻性声明。Cango 还可能在其定期向 SEC 提交的报告、年度股东报告、新闻稿和其他书面材料中，以及其高管、董事或员工向第三方作出的口头声明中作出书面或口头的前瞻性声明。非历史事实的声明，包括关于 Cango 的信念和期望的声明，都是前瞻性声明。前瞻性声明涉及固有的风险和不确定性。一些因素可能导致实际结果与任何前瞻性声明中包含的结果存在重大差异，包括但不限于以下因素：Cango 计划终止其 ADR 计划并直接在 NYSE 上上市其 A 类普通股的潜在好处；Cango 的目标和战略；Cango 的扩展计划；Cango 的未来业务发展、财务状况和运营结果；Cango 对其解决方案和服务的需求及市场接受度的期望；一般经济和商业条件；以及与上述任何内容相关的假设。有关这些和其他风险的进一步信息包含在 Cango 向 SEC 提交的文件中。本新闻稿及附件中提供的所有信息均为本新闻稿日期的信息，Cango 不承担更新任何前瞻性声明的义务，除非法律要求。</p>
</div><p><strong>Investor Relations Contact</strong></p>
<div class="lb-trans"><p><strong>投资者关系联系</strong></p>
</div><p>Juliet Ye, Head of Communications</p>
<div class="lb-trans"><p>Juliet Ye，传播负责人</p>
</div><p>Cango Inc.</p>
<div class="lb-trans"><p>Cango Inc.</p>
</div><p>Email: ir@cangoonline.com</p>
<div class="lb-trans"><p>电子邮件：ir@cangoonline.com</p>
</div><p>Christensen Advisory</p>
<div class="lb-trans"><p>Christensen Advisory</p>
</div><p>Tel: +852 2117 0861</p>
<div class="lb-trans"><p>电话：+852 2117 0861</p>
</div><p>Email: cango@christensencomms.com</p>
<div class="lb-trans"><p>电子邮件：cango@christensencomms.com</p>
</div><p>SOURCE Cango Inc.</p>
<div class="lb-trans"><p>来源：Cango Inc.</p>
</div>

灿谷获得买入评级，市场看好其轻资产采矿模式和人工智能潜力 | CANG 股票新闻