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HONG KONG, July 23, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG), formerly known for its automotive transaction services, has officially signaled its full-throttle pivot into the world of Bitcoin mining. The company announced today the completion of its strategic transformation with the appointment of a new Board of Directors (the “Board”) and a seasoned senior management team. This new leadership boasts deep expertise in digital-asset infrastructure, global finance, and energy investments – key ingredients as Cango seeks to carve out a significant piece of the digital gold rush.
Effective today, the Board has appointed the following key executives: Xin Jin as Chairman of the Board and Non-Executive Director, Peng Yu as Chief Executive Officer and Director, Chang-Wei Chiu as Director, Yongyi Zhang as Chief Financial Officer, and Simon Ming Yeung Tang as Chief Investment Officer. Bolstering the company’s corporate governance, the Board has also appointed Chi Ming Lee, Independent Director, as a member of the Compensation Committee and Nominating and Corporate Governance Committee; Yanjun Lin, Independent Director, as Chairman of the Compensation Committee and member of the Nominating and Corporate Governance Committee; and Haitian Lu as Chairman of the Nominating and Corporate Governance Committee and member of the Compensation Committee. These appointments coincide with the resignations of Xiaojun Zhang, who stepped down as Director and Chairman of the Board, and Jiayuan Lin, who resigned as Chief Executive Officer, Interim Chief Financial Officer and Director.
Xin Jin, the newly appointed Chairman, is no stranger to the digital asset landscape. As the founder and CEO of Antalpha Platform Holding Company (NASDAQ: ANTA), Jin has grown the company into a significant player with over $1.6 billion in assets under management since 2024. His extensive experience in the crypto mining industry, providing access to mining infrastructure and low-cost energy solutions, is expected to be a valuable asset to Cango.
Peng Yu, the new CEO, brings over 18 years of cross-sector leadership experience to the table. His background spans BTC mining, energy, M&A, and asset management, boasting a proven track record in driving value creation within the Bitcoin mining ecosystem. Yu’s previous roles include Managing Director at ABC International Investment Management Limited, CEO of Zhongrong Huijin Asset Management Limited, and Senior Vice President at ORIX Asia Capital Limited. He honed his investment banking skills at China Construction Bank International Financial Limited. Yu holds a master’s degree in Corporate Media from Marietta College and a bachelor’s degree in Financial Engineering from Shandong University.
Chang-Wei Chiu previously held the position of Chief Investment Officer of Antalpha Capital (BVI) Limited and
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