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Asian Equities Traded in the US as American Depositary Receipts Drop Sharply in Wednesday Trading
Late night surge! The renminbi and A50 rose, and China concept stocks rose across the board, while gold and silver soared.
Tonight, the U.S. June CPI data was released, showing that inflation in the United States has cooled across the board.
June Orders for Big Trucks Slow Down -- Market Talk
Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Tuesday Trading
Cango rose more than 3.5% in the US stock market, with operating profit increasing by 43.1% year-on-year in the first quarter.
On June 17, Gelunhui reported that Cango (CANG.US) rose by 3.59% to $1.73. Cango recently released its financial report for the first quarter of 2024, with total revenue of 64.4 million yuan and operating profit of 74.2 million yuan, a year-on-year increase of 43.1%; net income was 90 million yuan, a year-on-year increase of 14.3%. As of March 31, 2024, the company had cash and cash equivalents of 1.2 billion yuan. Yongyi Zhang, the company's CFO, stated that our strategic efforts to reduce new car inventory and improve operational efficiency have begun to show results.
Cango First Quarter 2024 Earnings: EPS: CN¥1.71 (Vs CN¥0.58 in 1Q 2023)
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