Cango also uses online automotive advertising platforms to attract a larger user base. Its in-house sales team is responsible for expanding and managing its dealer network.
Management intends to use some of the proceeds from the IPO to bolster its financing offerings to consumers. Cango As the graphic above Cango financial, Cango facilitates new car and, to a lesser extent, used car buying and selling; it also connects financial institutions with buyers so they can afford to purchase a new car; and it provides connections to auto maintenance after the sale.
CANG is growing quickly but may have a less efficient business model than competitors. Customer Acquisition Cango targets its services to financial institutions and car buyers using its dealer network.
The firm provides an online new automobile marketplace platform for residents of China. The main factors driving market growth are tax cuts on the sales of small engine vehicles and the loosening of regulations that banned pickups from circulating in main cities.
This indicates that the firm is becoming less efficient at generating new sales as it scales its operations: With regard to its financial services, Cango provides access to 3rd party financial institutions who bear credit risk and it will also bear credit risk through Shanghai Autohome which provides lease financing.
Sales and marketing costs as a percentage of total revenue have increased, as the figures indicate below. As of the end ofCango counted 37, registered dealers, 11 3rd-party financial institutions and had facilitated transactions fornew car buyers.
To the company, the dealer network is vital to acquiring more customers. IPO, according to an F-1 registration statement. Major competitive vendors that sell new or used cars via an online marketplace include: Cango has developed a marketplace for automobiles by connecting car dealers, car buyers, financial institutions and other industry participants on a single online platform.
The company operates an online marketplace connecting buyers and sellers of new and used cars.As of March 31,our platform connected 37, registered dealers, 11 third-party financial institutions and 29 other industry participants, including OEMs, online advertising platforms and insurance brokers and companies, and had servedcar buyers cumulatively since inception.
is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. Founded in by a group of pioneers in China’s auto finance industry, the Company is headquartered in Shanghai and has a.
Financial Analysis CanGo is off to a good start financially. CanGo has done a great job of not taking on more debt than they can handle.
CanGo also has very good current and quick ratios, with a current ratio of and a quick ratio of it is pretty clear that CanGo could easily pay of their debt if need be and still be able to keep running.
CanGo Financial Analysis Vera Cooper 3 snapshot of the company’s performance and future prospects. Financial analysis is a useful technique that forms a basis for taking key decisions about company operations (Russel, P.
R., )%(28). Cango Financial Words | 5 Pages. CanGo Financial Analysis Report The success of a business depends on its ability to remain profitable over the long term, while being able to pay all its financial obligations and earning above average returns for its shareholders.
(Source: Cango) As the graphic above shows, Cango facilitates new car and, to a lesser extent, used car buying and selling; it also connects financial institutions with buyers so they can afford to purchase a new car; and it provides connections to auto maintenance after the sale.Download