Cango Inc. (CANG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and good evening, everyone. Welcome to Cango, Inc.' 's second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. This call is also being broadcast live on the company's IR website and is being recorded. Joining us today are Mr. Paul Yu, Chief Executive Officer, and Mr. Michael Zong, Chief Financial Officer of the company. Following management's prepared remarks, we will conduct a question and answer session. Before we begin, I refer you to the safe harbor statement and the company's earnings release, which also applies to the conference call today, as management will make forward-looking statements. With that said, I will now turn the call over to Mr. Paul Yu, CEO of Kango. Please go ahead, sir. Thank you. Good afternoon, and thank you for joining Kango's second quarter. 2025 earnings call. Today marks an important milestone as we report our first quarter following Congo's strategic transformation. This isn't just another quarterly update. It showcases our complete transformation into a leading Bitcoin mining company. In just nine months, we've scaled to 50x of computing power, placing us firmly among the world top miners. As part of this transformation, we recently completed a governance and leadership restructuring, onboarding a senior management team with deep expertise across digital asset infrastructure, finance, and energy investments. This leadership team gave us the right mix of skills to hit the ground running and execute our next phase of growth. I'm optimistic about what we can achieve together as we enter a new chapter in the journey. Today, I will walk you through how our strategic execution has fundamentally repositioned us to lead the industry over the long term. Let me start with our financials, where we g...