Cango (CANG) has released an update.
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Cango Inc. reported a strong first quarter in 2024, with a 43.1% increase in income from operations and a 14.3% rise in net income compared to the previous year. The company’s strategic adjustments, including streamlining new car operations and launching a used car information platform, contributed to its financial growth and a third consecutive quarter of positive cash flow. Despite a challenging environment for the Chinese automotive industry, Cango’s focus on operational efficiency and cost control has positioned it for sustainable long-term development.
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