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Globe and Mail
23-07-2025
- Business
- Globe and Mail
Cango Inc. Announces Completion of Secondary Acquisition and Appointment of New Leadership Team
HONG KONG , July 23, 2025 /CNW/ -- Cango Inc. (NYSE: CANG) today announced its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the "Board") and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments. On July 23, 2025 , the Board appointed (i) Mr. Xin Jin as Chairman of the Board and Non-Executive Director, (ii) Mr. Peng Yu as CEO and Director, (iii) Mr. Chang-Wei Chiu as Director, (iv) Mr. Yongyi Zhang as CFO and (v) Mr. Simon Ming Yeung Tang as CIO To strengthen governance, the Board also appointed (i) Mr. Chi Ming Lee , Independent Director, as a member of the Compensation Committee and Nominating and Corporate Governance Committee, (ii) Mr. Yanjun Lin , Independent Director, as Chairman of the Compensation Committee and member of the Nominating and Corporate Governance Committee, and (iii) Mr. Haitian Lu as Chairman of the Nominating and Corporate Governance Committee and member of the Compensation Committee. The Board also accepted the resignations of Mr. Xiaojun Zhang as Director and Chairman, and Mr. Jiayuan Lin as CEO, Interim CFO, and Director. All changes are effective immediately. Mr. Peng Yu , CEO and Director, commented, "This leadership team gives Cango the right mix of skills to execute our next phase of growth. Having successfully transformed into a Bitcoin miner, we have already made remarkable progress in the past 7 months by becoming one of the largest Bitcoin miners in the world. With a strong balance sheet and clear long-term vision, our collective experience will help us scale beyond the 50 EH/s already deployed, not only safeguarding but strategically growing our treasury of more than 4,000 Bitcoins to maximize shareholder value. We will begin developing sustainable, high-performance computing opportunities while strategically expanding upstream into dedicated power resources especially green energy that will create lasting value for shareholders and drive further growth." Mr. Xiaojun Zhang and Mr. Jiayuan Lin resigned as co-founders coinciding with a secondary sale of 10 million Class B shares to Enduring Wealth Capital Limited for US$70 million . They converted their remaining Class B shares into Class A shares, now holding 18.54% of total outstanding shares and 12.07% of voting power. Enduring Wealth Capital Limited now holds about 2.82% of outstanding shares and 36.73% of voting power.. Full article: Juliet YE, Head of Communications Cango Inc. Email: ir@ SOURCE Cango Inc.
Yahoo
30-04-2025
- Business
- Yahoo
Berkshire's Annual Meeting Faces Fewer Global Investors
Berkshire Hathaway (NYSE:BRK.A) will welcome a smaller crowd of international investors at its May 3 Omaha meeting as trade tensions and travel advisories prompt foreign shareholders to think twice before making the trip. Chinese investor Xin Jin told CNBC he had planned a second visit to Buffett's Woodstock for Capitalists, but unnecessary and unfounded issues with customs and a Beijing risk alert on U.S. travel held him backechoing concerns from Shanghai attendees who bought Berkshite stock at $120 in 2012 and still regard Berkshire as a portfolio cornerstone. Last year's global turnout swelled to roughly 40,000 attendees, including about 800 visitors from outside North America, but this year travel agencies report fewer International excursion packages to Nebraska. President Trump's newly ramped-up tariffs and the souring U.S.-China trade relationship have made the journey more fraught, with China's government warning tourists of deterioration in economic and trade relations and domestic security issues. David Kass of the University of Maryland notes that the meeting's demographic shifted younger and more international over the past decadeso much so that Buffett and his late partner Charlie Munger dropped their private reception after signing autographs for 800 global shareholders in 2009 alone. Those autograph lines have since vanished, but the Q&A marathonbroadcast on CNBC and live-streamed in English and Mandarinremains a global must-see for value investors. Investors should care because a drop in foreign foot traffic may signal greater geopolitical risk premium priced into Berkshire Hathaway's stock, just as Buffett and Vice Chairman Greg Abel outline plans for capital deployment from a $160 billion cash hoard. Global turnout for the question-and-answer sessions often presages shifts in cross-border capital flows into U.S. equities, and this year's subdued international presence could hint at emerging headwinds for mega-caps. As doors open at 7 a.m. Central and investors settle in for sessions at 8 a.m. and 11 a.m., markets will be watching for any subtle signals from Buffett on navigating trade policy uncertainty and whether lower foreign turnout foreshadows a quieter chapter in Berkshire's international saga. This article first appeared on GuruFocus. Sign in to access your portfolio
Zawya
10-02-2025
- Business
- Zawya
China confirms keenness to enhance cooperation with Kuwait
TOKYO - A Chinese official on Saturday underlined his country's keenness to promote cooperation with the State of Kuwait in various domains. This came during a meeting between Assistant Minister of the International Department of the Central Committee of the Communist Party of China Xin Jin and Kuwaiti Ambassador to China Jasem Al-Najem. The Chinese official confirmed his country's interest in working with Kuwait to enhance practical cooperation between both countries in the context of the Belt and Road Initiative, and strengthen strategic partnership in order to achieve long-term stable development. For his part, the Kuwaiti ambassador congratulated the Chinese official on assuming his new post, stressing the depth of firm historical relations between Kuwait and China. He underlined Kuwait's keenness on promoting cooperation with China in various fields to serve both countries' interests. He noted that bilateral relations have greatly developed at different levels, pointing out the recent high-level visits between both nations' senior officials. The Kuwaiti diplomat added that joint mega projects are expected to bear fruit in the future for the common interest of both friendly nations. Al-Najem added that he had discussed with the Chinese official Beijing's positive and firm stances on the Palestinian cause, and its opposition to acts that break international law and international humanitarian law. He also cited China's recent objection to the forced displacement of Palestinians from Gaza and its commitment to the two-state solution as the guarantor of permanent peace and stability in the region. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
