Cango Inc (NYSE:CANG)
$ 4.92 -0.28 (-5.38%) Market Cap: 542.67 Mil Enterprise Value: 18.17 Mil PE Ratio: 19.05 PB Ratio: 1.06 GF Score: 53/100
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Q4 2018 Cango Inc Earnings Call Transcript

Mar 28, 2019 / 01:00AM GMT
Release Date Price: $7 (-2.10%)
Operator

Good day, and welcome to the Cango, Inc. Fourth Quarter and Full Year 2018 Results Conference Call and Webcast. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference call over to Lin Jiayuan. Please go ahead.

Jiayuan Lin
Cango Inc. - Co-Founder, CEO & Director

(foreign language) Hello, everyone. Welcome to our fourth quarter and full year 2018 conference call.

(foreign language) In the fourth quarter of 2018, new vehicle sales in China continued its slide due to macroeconomic uncertainties. Car sales for the full year 2018 fell by 4%, marking the first annual decrease in the last 2 decades.

(foreign language) Despite the unprecedented industry slump, we achieved a sequential quarterly revenue increase of 12.4% during the fourth quarter of 2018 to 326 -- RMB 320.6 million and annual revenue growth of 3.7% for the full year 2018 to RMB 1.09 billion. Our aftermarket services facilitation business, particularly our insurance facilitation business, remains a key growth driver and has

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