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Benzinga
Benzinga
World
The Bamboo Works

Cango Adds Used Cars, New Core App as Business Hits Second-Quarter Speed Bump

Cango China Covid-19 WeChat

Key Takeaways:

  • Cango’s revenue fell 69% in the second quarter due to disruptions from China’s strict Covid controls, but it forecast the figure would start to rebound in the current quarter
  • Company added two important pieces to its emerging car-trading business model with the rollout of its Haoche app and launch of a used car trading platform 
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