The Company will effect the consolidation of its authorized, issued and outstanding Class A ordinary shares and Class B ordinary shares on a 10-for-1 ratio, whereby every ten shares will be consolidated into one share of the same class. The share consolidation will take effect at 5:00 P.M. Eastern Time on July 20, 2026.

The Company expects its Class A ordinary shares to begin trading on the New York Stock Exchange on a post-share consolidation basis at the opening of trading on July 21, 2026, under the Company's existing ticker symbol "CANG" and a new CUSIP number of G1820C 110.

Upon effectiveness of the share consolidation, the Company's authorized share capital will remain US$100,000 and will be divided into 100,000,000 ordinary shares with a par value of US$0.001 each, comprising (i) 92,067,428 Class A ordinary shares with a par value of US$0.001 each, and (ii) 7,932,572 Class B ordinary shares with a par value of US$0.001 each.

No fractional shares will be issued in connection with the share consolidation. In the event that a shareholder would otherwise be entitled to receive a fractional share upon the share consolidation, the total number of shares to be received by that shareholder will be rounded down to the next whole share. Any fraction of a share resulting from the share consolidation will be cancelled and returned to the pool of authorized but unissued shares in the capital of the Company without the payment of any consideration to the holder thereof.