Cango Inc. (CANG) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.218 Good morning and evening, everyone. Welcome to Cango Inc.' 's first 00:00:05.218 -- 00:00:10.606 quarter 2025 earnings conference call. At this time, all participants 00:00:10.606 -- 00:00:16.234 are in a listen-only mode. This call is also being broadcast live on the company's 00:00:16.234 -- 00:00:21.662 IR website. Joining us today are Mr. Ji-Ran Lin, 00:00:21.662 -- 00:00:26.769 Chief Executive Officer, and Mr. Yong-Yi Zhang, Chief Financial Officer 00:00:26.769 -- 00:00:31.829 of the company. Following management's prepared remarks, we will conduct the Q&A 00:00:31.829 -- 00:00:36.955 session. Before we begin, I refer you to the safe 00:00:36.955 -- 00:00:42.042 harbor statement in the company's earnings release, which also applies to 00:00:42.042 -- 00:00:46.968 the conference call today, as management will make forward-looking statements. 00:00:46.968 -- 00:00:51.314 With that said, I am now turning the call over to Mr. 00:00:51.314 -- 00:00:56.558 Jairon Lin, CEO of Tango. Please go ahead, sir. 00:00:58.300 -- 00:01:03.369 Hi everyone, and welcome to Canggu's first 00:01:03.369 -- 00:01:05.529 quarter 2025 00:01:05.632 -- 00:01:10.778 earnings call. In the first quarter of 2025, despite significant 00:01:12.785 -- 00:01:18.074 changes in the currency market, Bitcoin's leading position has 00:01:18.074 -- 00:01:20.337 been further strengthened. 00:01:20.337 -- 00:01:26.047 In times of global economic instability, Bitcoin has shown its stability 00:01:26.047 -- 00:01:29.733 and strong anti-fraud capability as a currency asset. 00:01:29.733 -- 00:01:34.200 In terms of policy, the Trump administration's support for the encrypted currency market 00:01:34.200 -- 00:01:38.888 has undoubtedly created a more favorable monitoring env...