Cango (CANG) 20-F 26 Apr 23 2022 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	Cango Inc.
Entity Central Index Key	0001725123
Current Fiscal Year End Date	--12-31
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Emerging Growth Company	true
Document Annual Report	true
Entity Address, Country	CN
Entity Ex Transition Period	false
Document Shell Company Report	false
Document Registration Statement	false
Document Transition Report	false
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	false
Entity Address, Address Line One	8F, New Bund Oriental Plaza II
Entity Address, Address Line Two	556 West Haiyang Road
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200124
Entity Incorporation, State or Country Code	E9
Entity File Number	001-38590
Auditor Name	Ernst & Young Hua Ming LLP
Auditor Location	Shanghai, the People’s Republic of China
Auditor Firm ID	1408
Business Contact [Member]
Document Information [Line Items]
Entity Address, Country	CN
Entity Address, Address Line One	8F, New Bund Oriental Plaza II
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	200124
City Area Code	86 21
Local Phone Number	3183 5087
Contact Personnel Name	Yongyi Zhang
Contact Personnel Email Address	ir@cangoonline.com
Class A ordinary shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	196,605,493
Security Exchange Name	NYSE
Title of 12(b) Security	Class A Ordinary Shares, par value US$0.0001 per share
No Trading Symbol Flag	true
Class B ordinary shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	72,978,677
American Depositary Shares [Member]
Document Information [Line Items]
Trading Symbol	CANG
Security Exchange Name	NYSE
Title of 12(b) Security	American Depositary Shares, each representing two Class A ordinary shares

Consolidated Balance Sheets

Consolidated Balance Sheets	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Current assets
Current assets	¥ 378,917,318	$ 54,937,847	¥ 1,434,806,922
Restricted cash – current	152,688,510	22,137,753	61,293,114
Short-term investments	1,941,432,848	281,481,304	2,598,935,704
Accounts receivable, net of allowance of RMB nil and RMB nil (US$ nil) as of December 31, 2021 and 2022, respectively	266,836,951	38,687,721	223,544,396
Finance lease receivables - current, net of allowance of RMB25,274,933 and RMB15,461,529 (US$2,241,711) as of December 31, 2021 and 2022, respectively	799,438,656	115,907,710	1,414,164,625
Financing receivables, net of allowance of RMB50,492,700 and RMB60,673,961 (US$8,796,897) as of December 31, 2021 and 2022, respectively	73,818,025	10,702,608	62,296,261
Short-term contract asset	500,389,654	72,549,680	829,940,692
Prepayments and other current assets	1,356,822,028	196,720,702	982,948,637
Total current assets	5,470,343,990	793,125,325	7,607,930,351
Non-current assets:
Restricted cash - non-current	750,877,306	108,866,976	1,114,180,729
Goodwill	148,657,971	21,553,380	148,657,971
Property and equipment, net	14,689,988	2,129,848	19,545,933
Intangible assets	48,317,878	7,005,434	45,931,544
Long-term contract asset	173,457,178	25,148,927	495,456,805
Deferred tax assets	62,497,781	9,061,326	474,570,361
Finance lease receivables - non-current, net of allowance of RMB6,941,826 and RMB6,709,737 (US$972,820) as of December 31, 2021 and 2022, respectively	260,049,967	37,703,701	1,029,262,174
Operating lease right-of-use assets	80,726,757	11,704,280	0
Other non-current assets	6,633,517	961,770	11,568,164
Total non-current assets	1,545,908,343	224,135,642	3,339,173,681
Total assets	7,016,252,333	1,017,260,967	10,947,104,032
Current assets (including current assets of the consolidated VIEs pledged or collateralized for the VIEs' obligations of RMB728,780,079 and RMB372,874,938 (US$54,061,784) as of December 31, 2021 and December 31, 2022, respectively):
Short-term debts (including short-term debts of the consolidated VIEs without recourse to the Company of RMB579,776,131 and RMB349,299,134 (US$50,643,614) as of December 31, 2021 and December 31, 2022, respectively)	349,299,134	50,643,614	579,776,131
Long-term debts – current (including long-term debts – current of the consolidated VIEs without recourse to the Company of RMB938,014,362 and RMB565,143,340 (US$81,938,082) as of December 31, 2021 and December 31, 2022, respectively)	565,143,340	81,938,082	938,014,362
Short-term lease liabilities (including short-term lease liabilities of the consolidated VIEs without recourse to the Company of RMB nil and RMB9,913,073 (US$1,437,260) as of December 31, 2021 and December 31, 2022, respectively)	9,913,073	1,437,260	0
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to the Company of RMB714,521,503 and RMB881,977,535 (US$127,874,723) as of December 31, 2021 and December 31, 2022, respectively)	890,836,699	129,159,184	719,035,377
Risk assurance liabilities (including risk assurance liabilities of the consolidated VIEs without recourse to the Company of RMB699,022,914 and RMB402,303,421 (US$58,328,513) as of December 31, 2021 and December 31, 2022, respectively)	402,303,421	58,328,513	699,022,914
Income tax payable (including income tax payable of the consolidated VIEs without recourse to the Company of RMB209,977,036 and RMB2,471,080 (US$358,273) as of December 31, 2021 and December 31, 2022, respectively)	313,406,680	45,439,697	481,854,105
Total current liabilities	2,530,902,347	366,946,350	3,417,702,889
Non-current liabilities (including non-current liabilities of the consolidated VIEs without recourse to the Company of RMB498,087,408 and RMB162,007,505 (US$23,488,880) as of December 31, 2021 and December 31, 2022, respectively):
Long-term debts (including long-term debts of the consolidated VIEs without recourse to the Company of RMB486,371,672 and RMB75,869,353 (US$11,000,022) as of December 31, 2021 and December 31, 2022, respectively)	75,869,353	11,000,022	486,371,672
Deferred tax liability (including deferred tax liability of the consolidated VIEs without recourse to the Company of RMB10,724,126 and RMB10,724,126 (US$1,554,852) as of December 31, 2021 and December 31, 2022, respectively)	10,724,133	1,554,853	51,471,040
Long-term lease liabilities (including long-term lease liabilities of the consolidated VIEs without recourse to the Company of RMB nil and RMB75,099,739 (US$10,888,439) as of December 31, 2021 and December 31, 2022, respectively)	76,533,208	11,096,272	0
Other non-current liabilities (including other non-current liabilities of the consolidated VIEs without recourse to the Company of RMB991,610 and RMB314,287 (US$45,567) as of December 31, 2021 and December 31, 2022, respectively)	314,287	45,567	991,610
Total non-current liabilities	163,440,981	23,696,714	538,834,322
Total liabilities	2,694,343,328	390,643,064	3,956,537,211
Commitments and contingencies
Shareholders' equity
Treasury shares	(559,005,216)	(81,048,138)	(485,263,213)
Additional paid-in capital	4,805,240,472	696,694,379	4,671,769,821
Accumulated other comprehensive (loss) income	66,359,902	9,621,281	(187,517,110)
Retained earnings	9,109,587	1,320,766	2,991,373,063
Total Cango Inc.'s equity	4,321,909,005	626,617,903	6,990,566,821
Total shareholders' equity	4,321,909,005	626,617,903	6,990,566,821
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	7,016,252,333	1,017,260,967	10,947,104,032
Common Class A [Member]
Shareholders' equity
Ordinary shares	154,483	22,398	154,483
Common Class B [Member]
Shareholders' equity
Ordinary shares	¥ 49,777	$ 7,217	¥ 49,777

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical)	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) shares
Current assets	¥ 5,470,343,990	$ 793,125,325	¥ 7,607,930,351
Accounts receivable, allowance	0	0	0
Finance lease receivables-current, allowance	15,461,529	2,241,711	25,274,933
Financing receivables, allowance	60,673,961	8,796,897	50,492,700
Non-current assets	1,545,908,343	224,135,642	3,339,173,681
Finance lease receivables - non-current, allowance	6,709,737	972,820	6,941,826
Current liabilities	2,530,902,347	366,946,350	3,417,702,889
Short-term debts	349,299,134	50,643,614	579,776,131
Long-term debts—current	565,143,340	81,938,082	938,014,362
Short-term lease liabilities	9,913,073	1,437,260	0
Accrued expenses and other current liabilities	890,836,699	129,159,184	719,035,377
Risk assurance liabilities	402,303,421	58,328,513	699,022,914
Income tax payable	313,406,680	45,439,697	481,854,105
Non-current liabilities	163,440,981	23,696,714	538,834,322
Long-term debts—Non-current	75,869,353	11,000,022	486,371,672
Deferred tax liability	10,724,133	1,554,853	51,471,040
Long-term lease liabilities	76,533,208	11,096,272	0
Restricted cash – current	152,688,510	22,137,753	61,293,114
Short-term investments	1,941,432,848	281,481,304	2,598,935,704
Finance lease receivables—current	799,438,656	115,907,710	1,414,164,625
Finance lease receivables—non-current	260,049,967	37,703,701	1,029,262,174
Consolidated VIE [Member]
Current assets	3,986,520,369	577,991,122	4,430,825,462
Non-current assets	1,506,866,116	218,475,050	3,301,555,221
Current liabilities	2,211,107,583	320,580,465	3,141,311,946
Short-term debts	349,299,134	50,643,614	579,776,131
Long-term debts—current	565,143,340	81,938,082	938,014,362
Short-term lease liabilities	913,073	1,437,260	0
Accrued expenses and other current liabilities	881,977,535	127,874,723	714,521,503
Risk assurance liabilities	402,303,421	58,328,513	699,022,914
Income tax payable	2,471,080	358,273	209,977,036
Non-current liabilities	162,007,505	23,488,880	498,087,408
Long-term debts—Non-current	75,869,353	11,000,022	486,371,672
Deferred tax liability	10,724,126	1,554,852	10,724,126
Long-term lease liabilities	75,099,739	10,888,439	0
Other non-current liabilities	314,287	45,567	991,610
Short-term investments	0	0	114,706,800
Finance lease receivables—current	236,202,968	34,246,211	562,279,649
Finance lease receivables—non-current	260,049,967	37,703,701	1,029,262,174
VIEs pledged or collateralized
Current assets	372,874,938	54,061,784	728,780,079
Non-current assets	124,522,680	18,054,092	383,124,119
Restricted cash – current	136,671,970	19,815,573	51,793,630
Short-term investments	0	0	114,706,800
Finance lease receivables—non-current	¥ 124,522,680	$ 18,054,092	¥ 383,124,119
Common Class A [Member]
Ordinary shares, par value | $ / shares		$ 0.0001
Ordinary shares, shares authorized	420,647,280	420,647,280	420,647,280
Ordinary shares, shares issued	229,831,213	229,831,213	206,506,455
Ordinary shares, shares outstanding	196,605,493	196,605,493	196,605,493
Common Class B [Member]
Ordinary shares, par value | $ / shares		$ 0.0001
Ordinary shares, shares authorized	79,325,720	79,325,720	79,325,720
Ordinary shares, shares issued	72,978,677	72,978,677
Ordinary shares, shares outstanding	72,978,677	72,978,677	72,978,677

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Revenues
Revenue	¥ 1,980,453,461	$ 287,138,761	¥ 3,921,716,406	¥ 2,052,431,752
Operating cost and expenses
Cost of revenue	1,830,089,773	265,338,075	2,958,009,872	1,098,120,749
Sales and marketing	132,779,488	19,251,216	239,333,085	195,893,662
General and administrative	299,545,363	43,429,995	276,179,441	265,691,411
Research and development	45,958,842	6,663,406	70,278,081	62,596,195
Net loss on risk assurance liabilities	299,863,403	43,476,107	197,750,449	2,268,180
Provision for credit losses and other assets	319,359,716	46,302,806	203,415,094	109,564,631
Total operating cost and expense	2,927,596,585	424,461,605	3,944,966,022	1,734,134,828
Income (loss) from operations	(947,143,124)	(137,322,844)	(23,249,616)	318,296,924
Interest income	43,732,652	6,340,639	26,373,471	34,901,335
Net gain (loss) on equity securities	(9,810,585)	(1,422,402)	(12,991,522)	3,353,381,213
Interest expense	(16,809,263)	(2,437,113)	(14,481,195)	(2,758,629)
Foreign exchange gain (loss), net	5,918,231	858,063	1,351,400	(8,848,354)
Other income, net	52,066,718	7,548,965	41,911,589	49,139,337
Other expenses	(2,465,972)	(357,532)	(6,605,833)	(838,115)
Net income (loss) before income taxes	(874,511,343)	(126,792,224)	12,308,294	3,743,273,711
Income tax expenses	(236,696,540)	(34,317,772)	(20,852,646)	(369,853,650)
Net income (loss)	(1,111,207,883)	(161,109,996)	(8,544,352)	3,373,420,061
Less: Net income attributable to non-controlling interests	0	0	0	3,902,214
Net income (loss) attributable to Cango Inc.'s shareholders	¥ (1,111,207,883)	$ (161,109,996)	¥ (8,544,352)	¥ 3,369,517,847
Earnings (Losses) per ADS (2 ordinary shares equal 1 ADS):
Basic | (per share)	¥ (8.11)	$ (1.18)	¥ (0.06)	¥ 22.43
Diluted | (per share)	¥ (8.11)	$ (1.18)	¥ (0.06)	¥ 22.18
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustment	¥ 253,877,012	$ 36,808,707	¥ (72,130,683)	¥ (234,817,165)
Total comprehensive income (loss), net of tax	(857,330,871)	(124,301,289)	(80,675,035)	3,138,602,896
Total comprehensive income attributable to non-controlling interests	0	0	0	3,902,214
Total comprehensive income (loss) attributable to Cango Inc.'s shareholders	¥ (857,330,871)	$ (124,301,289)	¥ (80,675,035)	¥ 3,134,700,682
Class A and Class B Ordinary Shares [Member]
Earnings (Losses) per Class A and Class B ordinary share:
Basic | (per share)	¥ (4.05)	$ (0.59)	¥ (0.03)	¥ 11.21
Diluted | (per share)	¥ (4.05)	$ (0.59)	¥ (0.03)	¥ 11.09
Weighted average shares used to compute earnings (losses) per Class A and Class B share:
Basic	274,084,890	274,084,890	289,892,905	300,484,860
Diluted	274,084,890	274,084,890	289,892,905	303,900,645
Automobile trading income [Member]
Revenues
Revenue	¥ 1,596,306,698	$ 231,442,716	¥ 2,227,171,554	¥ 624,773,721
Loan facilitation income and other related income [Member]
Revenues
Revenue	146,428,758	21,230,174	1,233,556,212	891,836,601
Leasing income [Member]
Revenues
Revenue	155,522,046	22,548,577	251,295,105	286,079,245
After-market services income [Member]
Revenues
Revenue	71,456,769	10,360,258	193,786,856	241,193,243
Others [Member]
Revenues
Revenue	¥ 10,739,190	$ 1,557,036	¥ 15,906,679	¥ 8,548,942

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity	CNY (¥) shares	USD ($) shares	Ordinary Shares [Member] CNY (¥) shares	Ordinary Shares [Member] USD ($) shares	Treasury shares [Member] CNY (¥) shares	Additional paid-in capital [Member] CNY (¥)	Additional paid-in capital [Member] USD ($)	Accumulated other comprehensive income (loss) [Member] CNY (¥)	Accumulated other comprehensive income (loss) [Member] USD ($)	(Accumulated deficit) Retained earnings [Member] CNY (¥)	(Accumulated deficit) Retained earnings [Member] USD ($)	Total Cango Inc.'s (Deficit) Equity [Member] CNY (¥)	Total Cango Inc.'s (Deficit) Equity [Member] USD ($)	Non-controlling interest [Member] CNY (¥)
Balance, Beginning at Dec. 31, 2019	¥ 5,491,660,291		¥ 204,260			¥ 4,526,344,454		¥ 119,430,738		¥ 852,508,968		¥ 5,477,849,539		¥ 13,810,752
Balance, Share Beginning at Dec. 31, 2019 | shares			301,946,779	301,946,779	(20,638,881)
Purchase of subsidiaries' equity from non-controlling interest holders	(24,144,000)					(6,898,467)						(6,898,467)		(17,245,533)
Repurchase of ordinary shares	(49,219,318)											(49,219,318)
Repurchase of ordinary shares, shares | shares			(2,797,032)	(2,797,032)	(49,219,318)
Exercise of share options	¥ 6,693,716					(6,745,258)						6,693,716
Exercise of share options, shares | shares	600,014	600,014	600,014	600,014	13,438,974
Retirement of ordinary shares | shares	0	0	(1)	(1)
Liquidation of subsidiaries' equity from non-controlling interest holders	¥ (467,433)													(467,433)
Share-based compensation (note 19)	78,754,828					78,754,828						78,754,828
Net income (loss)	3,373,420,061									3,369,517,847		3,369,517,847		3,902,214
Other comprehensive income (loss)	(234,817,165)							(234,817,165)				(234,817,165)
Dividends to Shareholders	(266,671,843)									(266,671,843)		(266,671,843)
Balance, Ending at Dec. 31, 2020	8,375,209,137		¥ 204,260			4,591,455,557		(115,386,427)		3,955,354,972		8,375,209,137		0
Balance, Share Ending at Dec. 31, 2020 | shares			299,749,760	299,749,760	(56,419,225)
Repurchase of ordinary shares	(444,401,172)											(444,401,172)
Repurchase of ordinary shares, shares | shares			(21,001,856)	(21,001,856)	(444,401,172)
Exercise of share options	¥ 8,236,613					(7,320,571)						8,236,613
Exercise of share options, shares | shares	737,228	737,228	737,228	737,228	15,557,184
Share-based compensation (note 19)	¥ 87,634,835					87,634,835						87,634,835
Net income (loss)	(8,544,352)									(8,544,352)		(8,544,352)		¥ 0
Other comprehensive income (loss)	(72,130,683)							(72,130,683)				(72,130,683)
Dividends to Shareholders	(955,437,557)									(955,437,557)		(955,437,557)
Balance, Ending at Dec. 31, 2021	6,990,566,821		¥ 204,260			4,671,769,821		(187,517,110)		2,991,373,063		6,990,566,821
Balance, Share Ending at Dec. 31, 2021 | shares			279,485,132	279,485,132	(485,263,213)
Repurchase of ordinary shares	(105,835,309)											(105,835,309)
Repurchase of ordinary shares, shares | shares			(11,718,250)	(11,718,250)	(105,835,309)
Exercise of share options	¥ 7,041,437					(25,051,869)						7,041,437
Exercise of share options, shares | shares	1,817,288	1,817,288	1,817,288	1,817,288	32,093,306
Share-based compensation (note 19)	¥ 158,522,520					158,522,520						158,522,520
Net income (loss)	(1,111,207,883)	$ (161,109,996)								(1,111,207,883)		(1,111,207,883)
Other comprehensive income (loss)	253,877,012							253,877,012				253,877,012
Dividends to Shareholders	(1,871,055,593)									(1,871,055,593)		(1,871,055,593)
Balance, Ending at Dec. 31, 2022	¥ 4,321,909,005	$ 626,617,903	¥ 204,260	$ 29,615	¥ (559,005,216)	¥ 4,805,240,472	$ 696,694,379	¥ 66,359,902	$ 9,621,281	¥ 9,109,587	$ 1,320,766	¥ 4,321,909,005	$ 626,617,903
Balance, Share Ending at Dec. 31, 2022 | shares			269,584,170	269,584,170	(81,048,138)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash flows from operating activities:
Net income (loss)	¥ (1,111,207,883)	$ (161,109,996)	¥ (8,544,352)	¥ 3,373,420,061
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,740,027	977,212	8,514,969	9,544,137
Amortization of lease right-of-use assets	10,750,177	1,558,629	0	0
Share-based compensation expense	158,522,520	22,983,605	87,634,835	78,754,828
Loss on risk assurance liabilities	299,863,403	43,476,107	197,750,449	2,268,180
Provision for credit losses and other assets	319,359,716	46,302,806	203,415,094	109,564,631
Net (gain) loss on derivative instruments	1,162,556	168,555	5,346,389	(3,289,676)
Net (gain) loss on equity securities	15,331,464	2,222,853	27,278,116	(3,315,475,734)
Loss on disposal of property and equipment	228,463	33,124	78,221	79,756
Unrealized foreign exchange loss (gain), net	(5,918,231)	(858,063)	(1,351,400)	8,848,354
Deferred income tax expense (benefit)	371,325,673	53,837,162	(582,913,268)	248,151,964
Changes in operating assets and liabilities:
Accounts receivable	(43,292,555)	(6,276,830)	(78,030,840)	6,968,776
Financing receivables	(277,894,354)	(40,290,894)	(217,252,025)	(83,186,886)
Contract assets	651,550,665	94,465,967	(679,404,752)	(613,648,965)
Operating lease right-of-use assets	(91,476,934)	(13,262,909)	0	0
Other current and non-current assets	(370,316,107)	(53,690,789)	(180,898,244)	(694,994,714)
Risk assurance liabilities	(596,582,896)	(86,496,389)	40,443,166	198,608,646
Short-term and long-term operating lease liabilities	86,446,281	12,533,533	0	0
Other current and non-current liabilities	8,022,963	1,163,218	773,542,811	52,774,440
Net cash used in operating activities	(567,385,052)	(82,263,099)	(404,390,831)	(621,612,202)
Cash flows from investing activities:
Repayments of finance lease receivables	1,408,147,460	204,162,190	2,112,046,802	1,839,778,206
Origination of finance lease receivables	(75,819,047)	(10,992,728)	(1,091,415,329)	(2,256,358,577)
Proceeds from collection of short-term consumer financing receivables	0	0	0	12,248,145
Purchase of held-to-maturity investment	(3,934,700,190)	(570,477,903)	(2,342,226,408)	(1,115,661,108)
Maturities of held-to-maturity investment	4,353,760,611	631,235,952	1,158,122,796	658,209,985
Proceeds from sale or redemption of other short-term investments, net	212,638,848	30,829,735	2,841,860,867	361,366,081
Proceeds from available for sale financial assets	0	0	0	12,182,947
Disposal of property and equipment and intangible assets	123,354	17,885	51,241	31,840
Purchases of property and equipment and intangible assets	(4,622,233)	(670,161)	(18,922,066)	(5,360,566)
Payment for acquiring subsidiary, net of cash acquired	0	0	1,705,083	0
Net cash (used in) provided by investing activities	1,959,528,803	284,104,970	2,661,222,986	(493,563,047)
Cash flows from financing activities:
Payment to repurchase treasury shares	(105,835,309)	(15,344,677)	(444,401,172)	(49,219,318)
Liquidation of subsidiaries	0	0	0	(467,433)
Proceeds from borrowings	684,819,308	99,289,466	1,546,736,325	3,369,740,855
Proceeds from exercise of share options	7,041,437	1,020,912	8,236,613	6,693,716
Purchase of subsidiary's equity from non-controlling interest holder	0	0	0	(24,144,000)
Repayment of borrowings	(1,705,178,591)	(247,227,656)	(2,101,568,517)	(3,416,211,500)
Distribution to shareholders	(1,871,055,593)	(271,277,561)	(955,437,557)	(267,214,749)
Net cash used in financing activities	(2,990,208,748)	(433,539,516)	(1,946,434,308)	(380,822,429)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	270,267,366	39,185,085	(15,008,806)	(36,093,321)
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,327,797,631)	(192,512,560)	295,389,041	(1,532,090,999)
Cash, cash equivalents and restricted cash at beginning of the year	2,610,280,765	378,455,136	2,314,891,724	3,846,982,723
Cash, cash equivalents and restricted cash at the end of the year	1,282,483,134	185,942,576	2,610,280,765	2,314,891,724
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents	378,917,318	54,937,847	1,434,806,922	1,426,899,576
Restricted cash – current	152,688,510	22,137,753	61,293,114	9,693,008
Restricted cash – non-current	750,877,306	108,866,976	1,114,180,729	878,299,140
Cash, cash equivalents and restricted cash at the end of the year	1,282,483,134	185,942,576	2,610,280,765	2,314,891,724
Supplemental disclosures of cash flow information:
Cash paid for income taxes	33,818,292	4,903,191	209,044,264	101,878,045
Cash paid for interest	¥ 83,133,433	$ 12,053,215	¥ 134,173,921	¥ 139,952,105

Organization

Organization	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. ORGANIZATION Cango Inc. (the “Company”, and where appropriate, the term “Company” also refers to its subsidiaries, variable interest entities, and subsidiaries of the variable interest entities as a whole) is an exempt company incorporated in the Cayman Islands with limited liability under the laws of the Cayman Islands on October 9, 2017. The Company, through its subsidiaries, variable interest entities (“VIEs”), and subsidiaries of the VIEs, are principally engaged in the provision of automobile trading transaction, automotive financing facilitation, and aftermarket service facilitation in the People’s Republic of China (the “PRC”). The Company conducts its primary business operations through its VIEs and the subsidiaries of the VIEs. As of December 31, 2022, the Company’s subsidiaries and VIEs are as follows: Entity Date of incorporation Place of Percentage of Principal activities Subsidiaries Cango Group Limited (“Cango HK”) October 31, 2017 Hong Kong (“HK”) 100 % Investment holding Express Group Development Limited (“Express Limited”) June 30, 2016 HK 100 % Investment holding Can Gu Long (Shanghai) Information Technology Consultation Service Co., Ltd. (“Cangulong” or Wholly Foreign Owned Enterprise “WFOE”) January 25, 2018 PR 100 % Investment holding VIEs Shanghai Cango Investment and Management Consultation Service Co., Ltd. (“Shanghai Cango”) August 30, 2010 PR Nil Provision of automotive financing facilitation, automobile trading transaction and aftermarket service facilitation. Shanghai Yunguhaoche Electronic Technology Co., Ltd. (“Shanghai Yungu”) March 15, 2022 PR Nil Provision of automobile trading transaction. On October 31, 2017, the Company incorporated a wholly-owned subsidiary, Cango HK, in Hong Kong. On January 25, 2018, the Company incorporated another wholly-owned subsidiary, Cangulong, in the PRC. On March 23, 2018, Shanghai Cango signed a series of contractual agreements with Cangulong and its nominee shareholders (the “VIE Agreements”). On September 30, 2022, Shanghai Yungu signed a series of contractual agreements with Cangulong and its nominee shareholders. As of December 31, 2022 and during the year of 2022, business operation performed through Shanghai Yungu was not material. The summary of VIE agreements related to Shanghai Cango (the “VIE”) is listed below. The Company operates its business primarily through the VIE and the subsidiaries of the VIE. The Company, through the WFOE, entered into power of attorney and an exclusive option agreement with the nominee shareholders of the VIE, that gave the WFOE the power to direct the activities that most significantly affect the economic performance of the VIE and to acquire the equity interests in the VIE when permitted by the PRC laws, respectively. Certain exclusive agreements have been entered into with the VIE through the Company or its wholly-owned subsidiaries in mainland China, which obligate the Company to absorb a majority of the risk of loss from the VIE’s activities and entitles the Company to receive a majority of their residual returns. In addition, the Company entered into a share pledge agreement for equity interests in the VIE held by the nominee shareholders of the VIE. On March 22, 2018, Cango Inc. agreed to provide unlimited financial support to the VIE for its operations. Therefore, Cango Inc. is determined to be most closely associated with the VIE within the group of related parties and was considered to be the Primary Beneficiary of the VIE. The shareholders of the VIEs effectively assigned all of their voting rights underlying their equity interest in the VIEs to the primary beneficiary. In addition, through the other exclusive agreements, which consist of exclusive option agreements, exclusive business operation agreements and financial support undertaking letter, the primary beneficiary, by itself or its wholly-owned subsidiaries in mainland China, demonstrate its ability and intention to continue to exercise the ability to absorb losses or receive economic benefits that could potentially be significant to the VIEs. The VIEs are subject to operating risks, which determine the variability of the Company’s interest in those entities. Based on these contractual arrangements, the Company consolidates the VIEs as required by Accounting Standards Codification (“ASC”) Topic 810, Consolidation (1) Power of Attorney Agreements: Pursuant to the power of attorney signed between Shanghai Cango’s nominee shareholders and the WFOE, each nominee shareholder irrevocably appointed the WFOE as its attorney-in-fact (2) Exclusive Option Agreement: Pursuant to the exclusive option agreement entered into between Shanghai Cango’s nominee shareholders and the WFOE, the nominee shareholders irrevocably granted the WFOE a call option to request the nominee shareholders to transfer or sell any part or all of its equity interests in the VIE, or any or all of the assets of the VIE, to the WFOE, or their designees. The purchase price of the equity interests in the VIE is equal to the minimum price required by PRC law. Without the WFOE’s prior written consent, the VIE and its nominee shareholders cannot amend its articles of association, increase or decrease the registered capital, sell or otherwise dispose of its assets or beneficial interest, create or allow any encumbrance on its assets or other beneficial interests and provide any loans or guarantees. The nominee shareholders cannot request any dividends or other form of assets. If dividends or other form of assets were distributed, the nominee shareholders are required to transfer all received distribution to the WFOE or their designees. This agreement is not terminated until all of the equity interest of the VIE is transferred to the WFOE or the person(s) designated by the WFOE. None of the nominee shareholders have the right to terminate or revoke the agreement under any circumstance unless otherwise regulated by law. (3) Exclusive Business Cooperation Agreement: Pursuant to the exclusive business cooperation agreement entered into by the WFOE and Shanghai Cango and its subsidiaries, the WFOE provides exclusive technical support and consulting services in return for fees based on 100% of Shanghai Cango’s profit before tax, which is adjustable at the sole discretion of the WFOE. Without the WFOE’s consent, the VIE and its subsidiaries cannot procure services from any third-party or enter into similar service arrangements with any other third-party, other than the WFOE. In addition, the consolidated VIE granted the WFOE an exclusive right to purchase any or all of the business or assets of each of the profitable consolidated VIE and its subsidiaries at the lowest price permitted under PRC law. This agreement is irrevocable or can only be unilaterally revoked/amended by the WFOE. (4) Equity Pledge Agreement Pursuant to the equity pledge agreements, the nominee shareholders representing over 90% of the VIE’s equity interest have pledged all of their respective equity interests in the VIE to the WFOE as continuing first priority security interest to guarantee the nominee shareholders’ and the VIE’s obligations under the power of attorney agreement, the exclusive option agreement and the exclusive business cooperation agreement. The WFOE is entitled to collect dividends during the effective period of the share pledge unless it agrees otherwise in writing. If Shanghai Cango or any of the nominee shareholder breaches its contractual obligations, the WFOE will be entitled to certain rights regarding the pledged equity interests, including receiving proceeds from the auction or sale of all or part of the pledged equity interests of Shanghai Cango in accordance with PRC law. None of the nominee shareholders may assign or transfer to any third-party, distribute dividends and create or cause any security interest and any liability in whatsoever form to be created on, all or any part of the equity interests it holds in the VIE without the written consent of the WFOE. This agreement is not terminated until all of the technical support and consulting and service fees are fully paid under the exclusive business cooperation agreement and all of Shanghai Cango’s obligations have been terminated under the other controlling agreements. In addition, the following supplementary agreements were entered into: 1) Financial support undertaking letter Pursuant to the financial support undertaking letter, the Company is obligated to provide unlimited financial support to the VIE, to the extent permissible under the applicable PRC laws and regulations. The Company will not request repayment of the loans or borrowings if the VIE Entity or its shareholders do not have sufficient funds or are unable to repay. 2) Resolutions of the sole director of Cango Inc. (the “Resolutions”) The sole director resolved that each of Mr. Xiaojun Zhang, Mr. Jiayuan Lin and Mr. Yongyi Zhang (each, an “Authorized Officer”) shall cause the WFOE to exercise its rights under the power of attorney agreements and the exclusive option agreement when the Authorized Officer determines that such exercise is in the best interests of the Company and the WFOE to do so. In the opinion of the Company’s legal counsel, (i) the ownership structure of the PRC subsidiaries and the VIE, does not violate applicable PRC laws and regulations; (ii) each of the VIE Agreements is valid, binding and enforceable in accordance with its terms and applicable PRC laws or regulations and will not violate applicable PRC laws or regulations; (iii) the financial support letter issued by the Company to the VIE and the resolutions contained in the Resolutions are valid in accordance with the articles of association of the Company and Cayman Islands Law. However, uncertainties in the PRC legal system could cause the Company’s current ownership structure to be found in violation of existing and/or future PRC laws or regulations and could limit the Company’s ability to enforce its rights under these contractual arrangements. Furthermore, the nominee shareholders of the VIE may have interests that are different than those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the contractual agreements with the VIE. On January 1, 2020, the Foreign Investment Law came into effect and became the principal laws and regulations governing foreign investment in mainland China. The Foreign Investment Law does not explicitly classify contractual arrangements as a form of foreign investment, but it contains a catch-all In addition, if the current structure or any of the contractual arrangements is found to be in violation of any existing or future PRC laws or regulations, the Company could be subject to penalties, which could include, but not be limited to, revocation of business and operating licenses, discontinuing or restricting business operations, restricting the Company’s right to collect revenues, temporary or permanent blocking of the Company’s internet platforms, restructuring of the Company’s operations, imposition of additional conditions or requirements with which the Company may not be able to comply, or other regulatory or enforcement actions against the Company that could be harmful to its business. The imposition of any of these or other penalties could have a material adverse effect on the Company’s ability to conduct its business. As of December 31, 2021 and 2022, RMB51,793,630 and RMB136,671,970 (US$19,815,573) of restricted cash, RMB114,706,800 and RMB nil (US$nil) of short-term investment, and RMB945,403,768 and RMB360,725,648 (US$52,300,303) of finance lease receivables, respectively, are pledged or collateralized for the VIEs’ obligations. Creditors of the VIEs have no recourse to the general credit of the Company, who is the primary beneficiary of the VIEs, through their 100% controlled subsidiary Cangulong. The Company has not provided any financial or other support that it was not previously contractually required to provide to the VIEs during the periods presented. The table sets forth the assets and liabilities of the VIEs’ included in the Company’s consolidated balance sheets: As of December 31, 2021 2022 RMB RMB US$ Cash and cash equivalents 531,317,393 268,621,701 38,946,486 Other current assets 3,899,508,069 3,717,898,668 539,044,636 Total current assets 4,430,825,462 3,986,520,369 577,991,122 Finance lease receivables—non-current 1,029,262,174 260,049,967 37,703,701 Other non-current 2,272,293,047 1,246,816,149 180,771,349 Total non-current 3,301,555,221 1,506,866,116 218,475,050 Total assets 7,732,380,683 5,493,386,485 796,466,172 Short-term debts 579,776,131 349,299,134 50,643,614 Other current liabilities 2,561,535,815 1,861,808,449 269,936,851 Total current liabilities 3,141,311,946 2,211,107,583 320,580,465 Long-term debts 486,371,672 75,869,353 11,000,022 Other non-current 11,715,736 86,138,152 12,488,858 Total non-current 498,087,408 162,007,505 23,488,880 Total liabilities 3,639,399,354 2,373,115,088 344,069,345 The VIEs’ net asset balance was RMB4,092,981,329 and RMB3,120,271,397 (US$452,396,827) as of December 31, 2021 and 2022. The table sets forth the results of operations of the VIEs included in the Company’s consolidated statements of comprehensive income (loss): For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Revenues 2,052,431,752 3,921,688,104 1,980,415,725 287,133,290 Net income (loss) 399,366,632 37,717,411 (1,131,232,450 ) (164,013,288 ) The table sets forth the cash flows of the VIEs included in the Company’s consolidated statements of cash flows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Net cash used in operating activities (626,884,394 ) (374,886,851 ) (599,053,407 ) (86,854,580 ) Net cash (used in) provided by investing activities (81,038,760 ) 744,832,757 1,084,633,210 157,257,033 Net cash used in financing activities (71,082,260 ) (554,832,190 ) (1,020,359,284 ) (147,938,190 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — (55,087 ) 175,763 25,483

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles of the United States (“U.S. GAAP”). Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs, and the subsidiaries of the VIEs. All inter-company transactions and balances have been eliminated. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates reflected in the Company’s consolidated financial statements include, but are not limited to allowance for accounts receivable, allowance for financing receivables, allowance for finance lease receivables, allowance for contract assets, fair value of risk assurance liabilities, intangible assets with indefinite lives, valuation allowance for deferred tax assets and goodwill impairment. Management bases these estimates on its historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. Revenue recognition The Company’s revenues are derived principally from 1) automobile trading income, 2) loan facilitation services and post-origination administrative services, 3) finance lease services, 4) after-market services facilitation services, and 5) other income. Under ASC 606, Revenue from Contracts with Customers • Identify the contract(s) with a customer; • Identify the performance obligations in the contract; • Determine the transaction price; • Allocate the transaction price to the performance obligations in the contract; and • Recognize revenue when (or as) the entity satisfies a performance obligation. Automobile trading transaction When providing car trading services, the Company evaluates if it is a principal or an agent in a transaction to determine whether revenues should be recorded on a gross or net basis. The Company acts as a principal in which the Company purchases vehicles from suppliers which are vehicle manufacturers or their first-tier car dealerships and sells the vehicles to customers which are other car dealerships and records revenue on a gross basis if it obtains control over the specified goods and services before they are transferred to the customers. When the Company acts as an agent, revenue is recorded on a net basis when the Company does not obtain control over the specified goods and services before they are transferred to the customers. The revenue generated from sale of vehicles is recognized at a point in time when the control of the vehicles is transferred from the Company to the customers when the vehicles are delivered and their titles are passed on to the customers. Loan facilitation services and PAS The Company entered into non-risk The Company determines its customers to be both the financial institutions and borrowers. The Company considers the loan facilitation service, PAS and risk assurance services as separate services, of which the risk assurance service is accounted for in accordance ASC 460, Guarantees The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised services to the customer, net of value-added tax. The transaction price includes variable service fees which are contingent on the borrower making timely repayments. Variable consideration is estimated using the expected value method based on historical default rate, current and forecasted borrower repayment trends and is limited to the amount of variable consideration that is probable not to be reversed in future periods. As a result, the estimation of variable consideration involves significant judgement. The Company makes the assessment of whether the estimate of variable consideration is constrained. Any subsequent changes in the transaction price will be allocated to the performance obligations on the same basis as at contract inception. The Company first allocates the transaction price to the risk assurance liabilities at fair value in accordance with ASC 460. The remaining transaction price is then allocated to the loan facilitation services and PAS on a relative standalone selling price basis. The Company does not have observable price for the loan facilitation services and PAS because the services are not provided separately. As a result, the estimation of standalone selling price involves significant judgement. The Company estimates the standalone selling price of the loan facilitation and PAS using the expected cost plus a margin approach. The fee allocated to loan facilitation is recognized as revenue upon each successful loan facilitation, while the fee allocated to PAS are deferred and amortized over the period of the loan on a straight-line method as the PAS services are performed. PAS revenue recognized in the years ended December 31, 2020, 2021 and 2022 is RMB73,775,464, RMB41,561,564 and RMB23,411,975 (US$3,394,417), respectively. The loan facilitation services and PAS are recorded as Loan facilitation income and other related income in the consolidated statements of comprehensive income (loss). Finance lease services The Company provides automobile finance lease services to individual borrowers. Financing lease income is recognized using the effective interest method. Initial direct cost received and direct origination costs are generally deferred and amortized over the term of the related finance lease receivables using the effective interest method and are removed from the consolidated balance sheets when the related finance lease receivables are sold, charged off or paid in full. After-market services income The Company provides after-market services to car buyers which mainly include two types of separate contracts, 1) insurance facilitation service and 2) car recovery and disposal services. For 1) after-market insurance facilitation service, it mainly includes two types of contracts, one is facilitating personal accident insurance and automobile insurance, and the other is offering anti-theft package services. After-market insurance facilitation service income for personal accident insurance and automobile insurance is recognized at the point of time when facilitation services are completed. For anti-theft package services, the Company first allocates the fair value of indemnification service under ASC 460 and then allocates the remaining consideration to the after-market service of anti-theft telematic devises installment. For 2) after-market car recovery and disposal services income, it mainly refers to delinquent asset management income for car recovery and disposal services, which is recognized at the point of time when the company delivers the relevant service. Business combinations The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”) non-controlling non-controlling The determination and allocation of fair values to the identifiable assets acquired, liabilities assumed and non-controlling Leases Operating Leases – Lessee under ASC 842 The Company has operating leases for certain office rentals as a lessee. At inception of a contract, the Company determines whether that contract is, or contains a lease. For each lease arrangement identified, the Company determines its classification as an operating or finance lease. As of January 1, 2022, the Company records a lease liability and corresponding operating lease right-of-use non-cancellable right-of-use If there is a lease modification, the Company considers whether the lease modification results in a separate contract. If so, the Company accounts for the separate contract the same manner as any other new lease, in addition to the original unmodified contract. Otherwise, the Company remeasures and reallocates the remaining consideration in the contract, reassesses the classification of the lease at the effective date of the modification and accounts for any initial direct costs, lease incentives and other payments made to or by the lessee. If the modification fully or partially terminates the existing lease, the Company remeasures the lease liability and decreases the carrying amount of the right-of-use right-of-use Besides, operating lease expense is recognized as a single lease cost on a straight-line basis over the lease term and is included in general and administrative expenses, on the consolidated statements of comprehensive income (loss). Lease liabilities that become due within one year of the balance sheet date are classified as current liabilities. Operating leases under ASC 840 Before January 1, 2022, leases where the Company is the lessee, and substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Rentals applicable to such operating leases are recognized on a straight-line basis over the lease term. Certain of the operating lease agreements contain rent holidays. Rent holidays are considered in determining the straight-line rent expense to be recorded over the lease term. Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business. The Company’s goodwill on December 31, 2022 was primarily related to the acquisition of Shanghai Chejia in 2018. In accordance with ASC 350, Intangibles – Goodwill and Other The Company applied Accounting Standards Update (“ASU”) No. 2017-04, Simplifying the Test for Goodwill Impairment 2017-04”), Pursuant to ASC 350, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit of Cango Inc. is greater than its carrying value. If a qualitative assessment is not performed, or if as a result of a qualitative assessment it is not more likely than not that the fair value of a reporting unit exceeds its carrying value, then the reporting unit’s fair value is compared to its carrying value. As of December 31, 2021 and 2022, the Company completed its annual impairment test for goodwill under a quantitative impairment test of goodwill in which the Company performs an assessment that consists of a comparison of the carrying value of a reporting unit with its fair value. The fair values of the reporting unit are determined using income valuation approaches through the application of discounted cash flow method. Estimating fair values of the reporting unit involves significant assumptions, including future revenue growth rates, gross margin, terminal growth rates and discount rates. No impairment losses on goodwill and intangible assets were recognized during the years ended December 31, 2021 and 2022. Cost of revenues Cost of revenues consist primarily of cost of vehicles, commissions paid to car dealers who refer borrowers to the Company, employee compensation costs, leasing interest expense, cost of telematics devices installed in automobiles and third-party outsourcing fees for vehicle repossession services. Cost of revenues are expensed as incurred when the corresponding services have been provided. Foreign currency translation and transactions The functional currency of the Company, Cango HK and Express Limited is the US$. The Company’s subsidiaries, VIEs, and subsidiaries of the VIEs with operations in the PRC adopted RMB as their functional currencies. The determination of the respective functional currency is based on the criteria stated in ASC 830, Foreign Currency Matters Transactions in currencies other than the functional currency are measured and recorded in the functional currency at the exchange rate prevailing on the transaction date. Monetary assets and liabilities denominated in currencies other than the functional currency are re-measured Cash and cash equivalents Cash and cash equivalents primarily consist of cash, investments in interest bearing demand deposit accounts, time deposits, and highly liquid investments with original maturities within three months from the date of purchase and are stated at cost which approximates their fair value. All cash and cash equivalents are unrestricted as to withdrawal and use. As of December 31, 2022, majority of the Group’s cash and cash equivalents, restricted cash and short-term investments were held by financial institutions located in mainland China and Hong Kong. Deposits held in mainland China are subject to restrictions on foreign exchange and the ability to transfer cash outside of mainland China. In May 2015, a new Deposit Insurance System (“DIS”) managed by the People’s Bank of China (‘‘PBOC’’) was implemented by the Chinese government. Deposits in the licensed banks in mainland China are protected by DIS, up to a limit of RMB500 thousands. Hong Kong has an official Deposit Protection Scheme (“DPS”). Deposits in the licensed banks in Hong Kong are protected by DPS, up to a limit of HK$500 thousands. The Group selected reputable financial institutions to place its cash and cash equivalents, restricted cash and short-term investments. The Group regularly monitors the rating of the financial institutions to avoid any potential defaults. There has been no recent history of default in relation to these financial institutions. Restricted cash Restricted cash represents cash deposited with the respective financial institution customers as (i) collaboration and guarantee deposits in relation to facilitation transaction with financial institutions, and (ii) collateral for notes payable for automobile trading business. Financial institutions make corresponding deductions from the collaboration and guarantee deposits in relation to facilitation transaction with financial institutions, when borrowers are delinquent in their installment repayments and/or when loans are required to be purchased by the Company after a specified delinquency period. Such restricted cash is not available to fund the general liquidity needs of the Company. The balance of restricted cash deposited as collaboration and guarantee deposits in relation to facilitation transaction with financial institutions was RMB1,123,680,213 and RMB766,893,846 (US$111,189,156) as of December 31, 2021 and 2022, respectively. The balance of restricted cash deposited as collateral for notes payable for automobile trading business was RMB51,793,630 and RMB136,671,970 (US$19,815,573) as of December 31, 2021 and 2022, respectively. Accounts receivable and allowance for doubtful accounts Accounts receivable are recognized and carried at the original contract amount which will be invoiced, net of allowances for doubtful accounts. An allowance for doubtful accounts is recorded in the period when loss is probable based on many factors, including the age of the balance, the customer’s payment history and current economic trends. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. Bad debts are written off after all collection efforts have been exhausted. Contract assets and liabilities Contract assets represents the Company’s right to consideration in exchange for loan facilitation services that the Company has transferred to the customer before payment is due. The Company assesses contract assets for impairment in accordance with ASC 310, Receivables Contract assets as of December 31, 2021 and 2022 was RMB1,325,397,497 and RMB673,846,832 (US$97,698,607), respectively. The remaining unsatisfied performance obligations as of December 31, 2021 and 2022, pertaining to post-origination services amounted to RMB5,461,882 and RMB1,001,890 (US$145,260), respectively. Contract liabilities represents the Company’s obligation to transfer goods or services to a customer for which the entity has received consideration (or an amount of consideration is due) from the customer and mainly consist of cash payment received in advance from customers of automobile trading transactions and PAS, which is included in “Accrued expenses and other current liabilities” and “Other non-current Short-term investments All highly liquid investments such as time deposits and structured deposits with original maturities of three months or more but less than one year, are classified as short-term investments The Company accounts for short-term debt investments in accordance with ASC 320, Investments – Debt Securities Investments – Equity Securities “held-to-maturity”, “available-for-sale”, Debt securities that the Company has the positive intent and the ability to hold to maturity are classified as held-to-maturity Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities. Unrealized holding gains and losses for trading debt securities are included in earnings. Debt investments not classified as trading or as held-to-maturity available-for-sale Available-for-sale Equity investments measured at fair value with changes in fair value are recorded in earnings. The Company does not assess whether those securities are impaired. Such equity securities include wealth management products in financial institutions. Any realized gains or losses on the sale of the short-term investments are determined on a specific identification method and are reflected in earnings during the period in which gains or losses are realized. Interest income, realized and unrealized gains and losses from the short-term investments are recorded in “Interest income” and “Net gain (loss) on equity securities” respectively in the consolidated statements of comprehensive income (loss). Derivative instruments In 2019, the Company entered into cross-currency interest rate swap contracts that allow the Company to buy US Dollars at a pre-determined pre-determined The Company accounts for the cross-currency interest rate swap contracts in accordance with ASC 815, Derivatives and Hedging The cross-currency interest rate swap contracts may expose the Company to credit risk to the extent that the counterparty may be unable to meet the terms of the arrangement. The Company mitigates this credit risk by transacting with major financial institutions with high credit ratings. The Company did not pledge cash collateral for its cross-currency interest rate swap contracts as of December 31, 2021 and 2022. Risk assurance liabilities The Company provides risk assurance to various financial institution customers. The risk assurance liability requires the Company to either make delinquent installment repayments or purchase the loans after a specified period on an individual loan basis. The risk assurance liability is exempted from being accounted for as a derivative in accordance with ASC 815-10-15-58. The risk assurance liability consists of two components. The Company’s obligation to stand ready to make delinquent payments or to purchase the loan over the term of the arrangement (the non-contingent Contingencies non-contingent Subsequent to the initial recognition, the non-contingent loan-by-loan Financing receivables The Company records financing receivables in accordance with ASC 310-30 , Loan and Debt Securities Acquired with Deteriorated Credit Quality 310-30”) million million million million million million The Company derecognizes financing receivables upon physical possession of the repossessed asset, which includes the transfer of title through the completion of regulatory proceedings. The Company derecognizes the financing receivables which is first adjusted to its estimated fair value of the repossessed asset and records the repossessed asset at its estimated fair value, less cost to sell, as other non-current Repossessed assets are initially recognized at the fair value of the asset less estimated costs to sell. Any gain or loss from the disposal of the repossessed assets are recognized in the consolidated statements of comprehensive income (loss). Finance lease receivables Finance lease receivables are carried at amortized cost comprising of original financing lease and direct costs, net of unearned income and allowance for finance lease receivables. An account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. Finance lease receivables are collateralized by vehicle titles and, subject to local laws, the Company generally has the right to repossess the vehicle in the event the borrower defaults on the payment terms of the contract. Finance lease receivables are divided among pools based on common risk characteristics, such as products (i.e. new cars and used cars) and delinquent status. As of December 31, 2021 and 2022, the finance lease receivables balances of new cars were RMB2,161,848,785 and RMB895,319,860 (US$129,809,178), respectively, and finance lease receivables balances of used-cars were RMB281,578,014 and RMB164,168,763 (US$23,802,233), respectively. These pools are collectively evaluated for impairment by management judgment. The allowance is aggregated for each of the pools. Provisions for finance lease receivables are charged to operations in amounts sufficient to maintain the allowance for finance lease receivables at levels considered adequate to cover probable losses inherent in our finance lease receivables. Impaired finance lease receivables A finance lease receivable is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the terms of the contract. Factors such as payment history, compliance with terms and conditions of the underlying financing lease agreement and other subjective factors related to the financial stability of the borrower are considered when determining whether finance lease receivables are impaired. Nonaccrual policy The Company does not accrue lease income or interest income on finance lease principals and financing receivables that are considered impaired or are more than 65 to 85 days past due depending on different funding partners. A corresponding allowance is determined under ASC 450-20, Loss Contingencies 450-20”) non-accrual non-delinquent. Allowance for finance lease receivables and allowance for financing receivables The allowance for finance lease receivables and allowance for financing receivables are calculated by multiplying the PD and LGD model based on pools of finance lease receivables or financing receivables with similar risk characteristics, including product types, i.e. new cars and used cars to arrive at an estimate of incurred losses in the portfolio. The PD and LGD model take into consideration factors of historical delinquency migration to loss and loss given default. The Company adjusts the allowance for finance lease receivables that is determined by the PD and LGD model for various macroeconomic factors i.e. gross-domestic product rates, per capita disposable income, interest rates and consumer price indexes and other considerations. Finance lease receivables and financing receivables are charged off when a settlement is reached for an amount that is less than the outstanding balance or when the Company has determined the balance is uncollectable. In general, the Company considers finance fee receivables meeting any of the following conditions as uncollectable and charged-off: Treasury shares The Company accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury shares account on the consolidated balance sheets. Property and equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided using the straight-line method with the residual value based on the estimated useful lives of the class of asset, which range as follows: Category Estimated Useful Life Estimated Residual Value Office and electronic equipment 3-5 5% Motor vehicles 4 years 5% Leasehold improvements Over the shorter of the expected leasehold improvements or the lease term Nil Depreciation expense, for the years ended December 31, 2020, 2021 and 2022, was RMB9,150,590, RMB7,926,513 and RMB5,483,032 (US$794,965), respectively. Accumulated depreciation as of December 31, 2021 and 2022 was RMB26,923,641 and RMB27,518,577 (US$3,989,819 ) Intangible assets Intangible assets that have definite useful life primarily include purchased computer software. These intangible assets are amortized on a straight-line basis over their estimated useful lives of the respective assets, which vary from 6-10 As of December 31, 2022, intangible assets that have indefinite useful life primarily include an insurance brokerage license purchased in February 2019. The Company evaluates indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset is tested for impairment immediately prior to the change in classification. Research and development Research and development expenses are primarily incurred in the development of new services and new features of the Company’s technology infrastructure to support its business operations. Research and development costs are expensed as incurred unless such costs qualify for capitalization as software development costs. In order to qualify for capitalization, (i) the preliminary project should be completed, (ii) management has committed to funding the project and it is probable that the project will be completed and the software will be used to perform the function intended, and (iii) it will result in significant additional functionality in the Company’s services. No research and development costs were capitalized during any year presented as the Company has not met all of the necessary capitalization requirements. Impairment of long-lived assets and intangible assets Long-lived assets including intangible assets with definite lives, are assessed for impairment, whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC 360, Property, Plant and Equipment Intangible assets with indefinite lives, are assessed annually for impairment and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired in accordance with ASC 350. Impairment exists when the fair value is less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. No impairment loss was recognized for the years ended December 31, 2020, 2021 and 2022, respectively. Employee defined contribution plan Full time employees of the Company in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund, and other welfare benefits are provided to employees. Chinese labor regulations require that the Company make contributions to the government for these benefits based on a certain percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount that was expensed as incurred was RMB35,451,168, RMB87,227,402 and RMB60,124,007 (US$8,717,162) for the years ended December 31, 2020, 2021 and 2022, respectively. Value added taxes (“VAT”) Since its inception, Shanghai Cango was certified as a general VAT taxpayer whose applicable tax rate was 6%. The subsidiaries of the VIEs are all general VAT taxpayers which are subject to tax rate of 6% or 13%, except for Shanghai Wangtian Investment Co., Ltd., and Haikou Cango Technology Co., Ltd., which is certified as small-scale VAT taxpayers with an applicable tax rate of 3%. VAT is reported as a deduction to revenue when incurred and amounted to RMB207,266,214, RMB478,981,515 and RMB262,656,515 (US$38,081,615) for the years ended December 31, 2020, 2021 and 2022, respectively. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in accrued expenses and other current liabilities on the consolidated balance sheets. Income taxes The Company recognizes income taxes under the liability method. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted tax rates in effect for the years in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not more-likely-than-not The Company applies the provisions of ASC 740, Income Taxes Segment information In accordance with ASC 280-10, Segment Reporting: Overall 280-10”), Comprehensive income (loss) Comprehensive income (loss) is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. For each of the periods presented, the Company’s comprehensive income (loss) includes net income, foreign currency translation adjustments and unrealized (losses) gains on available-for-sale Fair value measurements Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value: Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 Include other inputs that are directly or indirectly observable in the marketplace. Level 3 Unobservable inputs which are supported by little or no market activity. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial assets and liabilities of the Company primarily consist of cash and cash equivalents, restricted cash, short-term investment, finance lease receivables, financing receivables, other current assets, short-term and long-term debts, derivative financial liability, accrued expenses and other liabilities. The carrying amounts of these financial instruments, except for short-term equity securities, financing receivables, derivative financial liability, non-current non-current non-current non-current Share-based compensation The Company accounts for share-based compensation in accordance with ASC 718, Compensation – Stock Compensation The Company r

Short-Term Investments

Short-Term Investments	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Short-Term Investments	3. SHORT-TERM INVESTMENTS As of December 31, 2022, short-term investments include as follows: (a) wealth management products mainly issued by China CITIC Bank Co., Ltd., Industrial Bank Co., Ltd., and Industrial and Commercial Bank of China Limited, which are redeemable by the Company at any time; (b) time deposit mainly placed in Bank of Shanghai (Hong Kong) Limited and Citibank, N.A., Hong Kong Branch ranging from three months to one year. As of December 31, 2021 2022 RMB RMB US$ Debt securities: Held-to-maturity 1,803,362,875 1,373,910,523 199,198,301 Equity securities: Marketable wealth management products 330,857,592 567,522,325 82,283,003 Marketable investment in Li Auto* 464,715,237 — — Total short-term investments 2,598,935,704 1,941,432,848 281,481,304 * The Company classified the investment in Li Auto as equity investments with readily determinable fair value. The security was valued using the market approach based on the quoted prices in active markets at the reporting date. The Company classified the valuation techniques that use these inputs as Level 1 of fair value measurements. In the first quarter of 2022, the company disposed all the remaining equity securities in Li Auto. The gross unrecognized gain or loss on the held-to-maturity Changes in fair value due to the fluctuation of the share price are recognized in net gain (loss) on equity securities while changes in fair value due to the fluctuation of the foreign exchange rate are recognized in other comprehensive income (loss).

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts Receivable, Net	4. ACCOUNTS RECEIVABLE, NET Accounts receivable and the related allowance for doubtful accounts are summarized as follows: As of December 31, 2021 2022 RMB RMB US$ Accounts receivable 223,544,396 266,836,951 38,687,721 Less: Allowance for doubtful accounts — — — Accounts receivable, net 223,544,396 266,836,951 38,687,721 No amounts have been written off during the years ended December 31, 2021 and 2022, respectively.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	5. GOODWILL The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2022 were as follows: As of December 31, RMB US$ Balance at December 31, 2020 145,063,857 22,232,009 Goodwill acquired 3,594,114 563,995 Balance at December 31, 2021 148,657,971 23,327,680 Balance at December 31, 2022 148,657,971 21,553,380

Finance Lease Receivables, Net

Finance Lease Receivables, Net	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Finance Lease Receivables, Net	6. FINANCE LEASE RECEIVABLES, NET 6.1 Finance lease receivables consists of the following: As of December 31, 2021 2022 RMB RMB US$ Finance lease receivables 2,716,511,586 1,161,811,131 168,446,780 Add: 388,585 380,815 55,213 Less: (241,256,613 ) (80,532,057 ) (11,676,051 ) Less: (32,216,759 ) (22,171,266 ) (3,214,531 ) Total finance lease receivables, net 2,443,426,799 1,059,488,623 153,611,411 Finance lease receivables—current 1,414,164,625 799,438,656 115,907,710 Finance lease receivables—non-current 1,029,262,174 260,049,967 37,703,701 6.2 The following table presents the future minimum lease payments to be received: 2023 2024 2025 2026 2027 Total RMB RMB RMB RMB RMB RMB Finance lease receivables 848,241,938 252,549,195 40,854,903 17,453,736 2,711,359 1,161,811,131 US$ US$ US$ US$ US$ US$ Finance lease receivables 122,983,521 36,616,191 5,923,404 2,530,554 393,110 168,446,780 6.3 The following table presents the aging of finance lease receivables principal as of December 31, 2021 and 2022: As of December 31, 2021 2022 RMB RMB US$ Aging of finance lease receivables principal: Current 2,366,189,534 1,018,749,298 147,704,764 1-30 90,969,086 38,193,025 5,537,468 31-60 6,290,856 9,008,588 1,306,122 61-90 3,656,847 4,917,323 712,945 91-120 3,868,995 3,545,621 514,067 121-150 2,201,790 2,951,294 427,897 151-180 2,466,450 4,294,740 622,679 2,475,643,558 1,081,659,889 156,825,942 6.4 Movement of allowance for finance lease receivables is as follows: As of December 31, 2021 2022 RMB RMB US$ Balance at the beginning of the year 23,726,420 32,216,759 4,670,991 Additions 25,839,117 51,609,763 7,482,712 Charge-offs (17,348,778 ) (61,655,256 ) (8,939,172 ) Balance at the end of the year 32,216,759 22,171,266 3,214,531

Prepayments And Other Current A

Prepayments And Other Current Assets	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Prepayments And Other Current Assets	7. PREPAYMENTS AND OTHER CURRENT ASSETS Prepayments and other current assets consist of the following: Notes As of December 31, 2021 2022 RMB RMB US$ Prepayments for vehicles i 712,544,814 962,460,729 139,543,687 Other receivables from third parties ii 33,092,696 204,582,786 29,661,716 Deposits held by third parties 48,176,225 77,096,144 11,177,890 Vehicles iii 131,722,840 53,570,863 7,767,045 Accrued input value-added tax 22,922,301 23,456,305 3,400,845 Prepaid expenses 9,977,021 8,638,899 1,252,523 Interest receivables 5,655,031 4,960,332 719,181 Others 18,857,709 22,055,970 3,197,815 982,948,637 1,356,822,028 196,720,702 (i) Prepayments for vehicles represents the prepayments to the automobile suppliers when the Company acts as a principal. (ii) Other receivables from third parties mainly represents the prepayments on behalf of the car dealer buyers when the Company acts as an agent in the automobile trading business. (iii) Inventory of the vehicles is stated at the lower of cost or net realizable value. Inventory cost is determined by specific identification. Net realizable value is the estimated selling price less costs to complete, dispose and transport the vehicles. There were no write-downs or any substantial and unusual losses of vehicles recorded for the years ended December 31, 2020, 2021 and 2022.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Intangible Assets	8. INTANGIBLE ASSETS Intangible assets consist of the following: As of December 31, 2021 2022 RMB RMB US$ Finite-lived intangible asset: Software 5,796,893 9,440,222 1,368,704 Less: Accumulated amortization (2,956,852 ) (4,213,847 ) (610,950 ) Total finite-lived intangible asset 2,840,041 5,226,375 757,754 Indefinite-lived intangible asset: License* 43,091,503 43,091,503 6,247,680 Total infinite-lived intangible asset 43,091,503 43,091,503 6,247,680 45,931,544 48,317,878 7,005,434 Amortization expenses of finite-lived intangible asset for the years ended December 31, 2020, 2021 and 2022 were RMB393,547, RMB588,456 and RMB1,256,995 (US$182,247), respectively. The estimated useful life of the intangible assets are 6-10 As of December 31, 2023 2024 2025 2026 2027 RMB RMB RMB RMB RMB Software 1,257,606 1,010,211 996,352 937,541 904,884 US$ US$ US$ US$ US$ Software 182,336 146,467 144,457 135,931 131,196 * The Company acquired Fushun Insurance Brokerage Co., Ltd in 2019. The acquisition met the “substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets” criteria and is not considered a business combination in accordance with ASC 805.

Short-Term and Long-Term Debts

Short-Term and Long-Term Debts	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Short-Term and Long-Term Debts	9. SHORT-TERM AND LONG-TERM DEBTS Short-term debts consist of the following: Name Fixed annual rate (%) Term As of December 31, 2021 RMB Short-term borrowings 3.75%-6.50 % 1-12 months 579,776,131 Name Fixed annual rate (%) Term As of December 31, 2022 RMB US$ Short-term borrowings 1.45%-5.25 % 1-12 months 349,299,134 50,643,614 Long-term debts consist of the following: Name Fixed annual rate (%) Term As of December 31, 2021 RMB Co-financing 5.50%-6.60 % 24-36 months 954,444,171 Long-term 4.45%-6.00 % 15-36 469,941,863 1,424,386,034 Name Fixed annual rate (%) Term As of December 31, 2022 RMB US$ Co-financing 5.50%-6.60 % 24-36 361,120,106 52,357,493 Long-term 4.45%-6.50 % 20-36 months 279,892,587 40,580,611 641,012,693 92,938,104 (i) The Company provides consumer loans to borrowers through commercial banks. The Company is required to make scheduled payments to the commercial banks regardless of borrower repayments. Financing lease receivables amounting to RMB945,403,768 were collateralized for a majority of short-term borrowings and long-term borrowings as of December 31, 2021, and RMB360,725,648 (US$52,300,303) were collateralized for a majority of short-term borrowings and long-term borrowings as of December 31, 2022. The weighted average interest rate for the outstanding debts was approximately 5.72% and 4.47% as of December 31, 2021 and 2022. The aggregate amounts of unused lines of credit for short-term borrowings were RMB615 million and RMB620 million (US$90 million), and for long-term borrowings were RMB1,012 million and RMB1,244 million (US$180 million) as of December 31, 2021 and 2022, respectively. The following table sets forth the contractual obligations of long-term debts—non-current Payment due by period Less than 1 year 1 - 2 years 2 -3 Total As of December 31, 2021 (RMB) Long-term debts – non-current 29,956,101 490,167,979 24,730,673 544,854,753 As of December 31, 2022 (RMB) Long-term debts – non-current 4,086,053 76,963,214 681,629 81,730,896 As of December 31, 2022 (US$) Long-term debts – non-current 592,422 11,158,617 98,827 11,849,866

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: As of December 31, 2021 2022 Notes RMB RMB US$ Short-term contract liability (net of tax) 292,386,075 422,429,761 61,246,558 Accrued output value-added tax 33,471,335 35,757,905 5,184,409 Customer advances i 77,811,758 145,841,630 21,145,049 Notes Payable ii 123,803,438 123,436,000 17,896,538 Deposit due to third-parties 18,891,289 45,333,662 6,572,763 Payable to dealers 50,680,407 14,080,249 2,041,444 Payable to employees 34,285,667 9,627,567 1,395,866 Other tax payables 16,494,783 9,575,306 1,388,289 Accrued professional service fees 8,697,657 5,198,272 753,679 Payable to suppliers 4,003,912 2,119,516 307,301 Interest payable 2,667,405 1,040,927 150,920 Derivative financial liability 5,346,389 — — Others 50,495,262 76,395,904 11,076,368 719,035,377 890,836,699 129,159,184 (i) Customer advances relate to automobile customer’s deposit balances that are paid to secure the automobiles before a purchase contract is executed. (ii) In the ordinary course of business, the Company uses non-interest

Risk Assurance Liabilities

Risk Assurance Liabilities	12 Months Ended
	Dec. 31, 2022
Guarantees and Product Warranties [Abstract]
Risk Assurance Liabilities	11. RISK AS SUR The movement of risk assurance liabilities during the years ended December 31, 2021 and 2022 are as follows: As of December 31, 2021 2022 RMB RMB US$ Balance at the beginning of the year 460,829,299 699,022,914 101,348,795 Fair value of risk assurance liabilities upon the inception of new loans 443,831,604 45,521,150 6,599,946 Performed risk assurance liabilities (403,388,438 ) (642,104,046 ) (93,096,335 ) Net loss on risk assurance liabilities 197,750,449 299,863,403 43,476,107 Balance at the end of the year 699,022,914 402,303,421 58,328,513 The maximum potential undiscounted future payment which the Company would be required to make under its risk assurance obligation is RMB31,335,737,264 and RMB16,506,729,778 (US$2,393,250,852) as of December 31, 2021 and 2022, respectively. The Company changed terms of risk assurance with a financial institution in 2021. The term of the risk assurance obligation ranges from 12 months

Lease

Lease	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease	12. LEASE Operating lease arrangements The Company leases facilities in the PRC under non-cancelable Operating lease costs were RMB15,945,782 (US$2,311,921) for the year ended December 31, 2022, which excluded short-term lease costs. Short-term lease costs were RMB3,686,856 (US$534,544) for the year ended December 31, 2022. The rental expenses for the year ended December 31, 2021 were RMB24,733,825. For the years ended December 31, 2021 and 2022, no lease costs for operating leases were capitalized. As of December 31, 2022, the weighted average remaining lease term was 6.3 years and the weighted average discount rate as of December 31, 2022 is 6.15% for the Company’s operating leases. Supplemental cash flow information related to operating leases was as follows: 2022 RMB US$ Cash payments for operating leases 15,480,126 2,244,407 Operating ROU assets obtained in exchange for new operating lease liabilities 5,068,377 734,846 Operating ROU assets released in exchange for operating lease liabilities 2,023,201 293,337 Maturities of lease liabilities as of December 31, 2022 were as follows: RMB US$ Year ending December 31, 2023 15,419,265 2,235,583 2024 15,275,454 2,214,733 2025 14,077,075 2,040,984 2026 13,859,582 2,009,451 2027 14,583,165 2,114,360 2028 and thereafter 32,700,933 4,741,189 Total lease payment 105,915,474 15,356,300 Less: imputed interest (19,469,193 ) (2,822,768 ) Present value of lease liabilities 86,446,281 12,533,532 The undiscounted future minimum payments under non-cancelable RMB Year ending December 31, 2022 15,710,485 2023 14,124,342 2024 13,873,588 2025 13,459,582 2026 13,459,582 2027 and thereafter 48,629,836 Total 119,257,415

Cost of Revenue

Cost of Revenue	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Cost of Revenue	13. COST OF REVENUE Cost of revenue consists of the following: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cost of vehicle 619,227,148 2,210,715,054 1,580,778,797 229,191,382 Staff cost 73,975,397 105,771,335 105,613,337 15,312,494 Leasing interest expense* 132,322,922 119,692,726 61,128,565 8,862,809 Commission to car dealerships 117,985,878 375,702,902 26,756,550 3,879,335 Staff incentive 84,046,881 61,894,967 — — Others 70,562,523 84,232,888 55,812,524 8,092,055 1,098,120,749 2,958,009,872 1,830,089,773 265,338,075 * Leasing interest expense refers to interest expense on borrowings by the Company that are directly used to fund finance lease receivables.

Net Gain (Loss) On Equity Secur

Net Gain (Loss) On Equity Securities, Net	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Net Gain (Loss) On Equity Securities, Net	14. NET GAIN (LOSS) ON EQUITY SECURITIES, NET Net gain (loss) on equity securities consists of the following: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Unrealized gain on equity securities still held at the reporting date 3,315,475,734 45,804,034 — — Net realized gain (loss) on equity securities during the period 37,905,479 (58,795,556 ) (9,810,585 ) (1,422,402 ) 3,353,381,213 (12,991,522 ) (9,810,585 ) (1,422,402 )

Other Income, Net

Other Income, Net	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Other Income, Net	15. OTHER INCOME, NET Other income consists of the following: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Government subsidy 35,888,591 35,384,908 15,321,092 2,221,350 Others 13,250,746 6,526,681 36,745,626 5,327,615 49,139,337 41,911,589 52,066,718 7,548,965

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	16. INCOME TAXES Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. Additionally, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed. Hong Kong Under the Hong Kong tax laws, subsidiaries in Hong Kong are subject to the Hong Kong profits tax rate at 16.5% and they may be exempted from income tax on their foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. China The Enterprise Income Tax Law (the “EIT Law”) of the PRC includes a provision specifying that legal entities organized outside PRC will be considered residents for Chinese income tax purposes if their place of effective management or control is within PRC. If legal entities organized outside PRC were considered residents for Chinese income tax purpose, they would become subject to the EIT Law on their worldwide income. This would cause any income from legal entities organized outside PRC earned to be subject to PRC’s 25% EIT. The Implementation Rules to the EIT Law provides that non-resident The VIEs’ subsidiaries domiciled in the PRC are subject to 25% statutory income tax rate in the periods presented. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Company does not believe that the legal entities organized outside PRC should be characterized as PRC residents for EIT Law purposes. In accordance with EIT Law, a qualified “High and New Technology Enterprise” (“HNTE”) is eligible for a preferential tax rate of 15%. An entity must file required supporting documents with the tax authority and ensure fulfillment of the relevant criteria before being granted the preferential rate. Upon expiration of the certificate, an entity can further re-apply Under the current EIT Law, capital gains derived from PRC are subject to a 10% PRC withholding tax. Under the current EIT Law, dividends for earnings paid by PRC entities to any of their foreign non-resident The Company’s net income (loss) before income taxes consists of: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cayman Islands 3,309,525,351 (37,599,025 ) 28,219,345 4,091,420 Hong Kong (14,414,430 ) (14,883,394 ) (16,096,157 ) (2,333,723 ) China 448,162,790 64,790,713 (886,634,531 ) (128,549,921 ) Net income (loss) before income taxes 3,743,273,711 12,308,294 (874,511,343 ) (126,792,224 ) The current and deferred component of income tax expenses which were substantially attributable to the Company’s PRC subsidiaries, VIEs and subsidiaries of the VIEs, are as follows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Current income tax expense 121,701,686 603,765,914 (134,629,133 ) (19,519,390 ) Deferred income tax expense (benefit) 248,151,964 (582,913,268 ) 371,325,673 53,837,162 Total income tax expense 369,853,650 20,852,646 236,696,540 34,317,772 The principal components of the deferred tax assets and liabilities are as follows: For the years ended December 31, 2021 2022 RMB RMB US$ Non-current Risk assurance liabilities 276,221,432 361,992,619 52,483,996 Provision for credit losses 194,973,439 255,231,296 37,005,059 Contract assets 7,495,619 — — Short-term and long-term lease liabilities — 20,181,689 2,926,070 Customer advances 5,552,404 5,136,587 744,735 Fair value change on derivative instruments 1,336,597 — — Net operating loss carry-forward 16,959,870 67,815,707 9,832,353 Less: valuation allowance (16,959,870 ) (447,965,176 ) (64,948,845 ) Non-current 485,579,491 262,392,722 38,043,368 Non-current Acquisition of insurance brokerage license (10,724,126 ) (10,724,126 ) (1,554,852 ) Unrealized gain on long-term investment (11,009,130 ) (11,009,130 ) (1,596,174 ) Contract assets — (168,704,122 ) (24,459,798 ) Operating lease right-of-use — (20,181,689 ) (2,926,070 ) Withholding tax (40,746,914 ) — — Others — (7 ) (1 ) Non-current (62,480,170 ) (210,619,074 ) (30,536,895 ) CANGO INC. The Company had deferred tax assets related to net operating loss carry forwards of RMB271,262,828 (US$39,329,413) from its subsidiaries in China, which can be carried forward to offset taxable income. The net operating loss of these subsidiaries will expire in years 2023 to 2032 if not utilized, respectively. The Company operates through its WFOE and VIEs and evaluates the potential realization of deferred tax assets on an entity basis. The Company recorded valuation allowance against deferred tax assets of those entities that were in cumulative financial loss and are not forecasting profits in the near future as of December 31, 2021 and 2022. In making such determination, the Company also evaluated a variety of factors including the Company’s operating history, accumulated deficit, existence of taxable temporary differences and reversal periods. Reconciliation between the income tax expense computed by applying the PRC tax rate to income before the provision of income taxes and the actual provision for income taxes is as follows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Income (loss) before provision of income tax 3,743,273,711 12,308,294 (874,511,343 ) (126,792,224 ) PRC statutory income tax rate 25 % 25 % 25 % 25 % Income tax at statutory tax rate 935,818,428 3,077,074 (218,627,836 ) (31,698,057 ) Tax rate differential (852,831,321 ) 5,070,813 (6,593,155 ) (955,918 ) Over-accrued EIT for previous years — — (2,025,370 ) (293,651 ) Impact of tax rate change (35,511,678 ) — (878,656 ) (127,393 ) Non-deductible 19,219,052 19,443,641 41,193,294 5,972,465 Research and development super-deduction (10,970,775 ) (10,177,551 ) (7,943,499 ) (1,151,699 ) Non-taxable (982,266 ) — (382,978 ) (55,527 ) Change in valuation allowance (2,412,144 ) 9,894,006 433,465,580 62,846,603 Withholding tax 317,524,354 (6,455,337 ) (1,510,840 ) (219,051 ) Income tax expenses 369,853,650 20,852,646 236,696,540 34,317,772 The Company did not record any outside basis tax differences related to its investments in the subsidiaries in the PRC because management asserted to indefinitely reinvest the undistributed earnings of the subsidiaries in the PRC. As of December 31, 2021 and 2022, the cumulative amount of the temporary differences in respect of investments in foreign subsidiaries is RMB1,951 million and RMB1,848 million (US$268 million). Upon repatriation of the foreign subsidiaries and the VIEs’ earnings, in the form of dividends or otherwise, the Company would be subject to withholding income tax. Unrecognized Tax Benefit As of December 31, 2021 and 2022, the Company concluded that there was no significant impacts from tax uncertainty in its consolidated financial results. The Company does not expect the amount of unrecognized tax benefits would increase significantly in the next 12 months. In general, the PRC tax authorities have up to five years to conduct examinations of the tax filings of the Company’s PRC subsidiaries. Accordingly, the PRC subsidiaries’ tax years of 2017 through 2022 remain open to examination by the respective tax authorities. The Company may also be subject to the examinations of the tax filings in other jurisdictions, which are not material to the consolidated financial statements.

Earnings (Loss) Per Share ("EPS

Earnings (Loss) Per Share ("EPS")	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share ("EPS")	17. EARNINGS (LOSSES) PER SHARE (“EPS”) Basic earnings (losses) per share is computed using the weighted average number of the ordinary shares outstanding during the period. Diluted earnings (losses) per share is computed using the weighted average number of ordinary shares and potential ordinary shares outstanding during the period under the treasury stock method. Upon completion of the Company’s IPO on July 26, 2018, all redeemable convertible preferred shares were converted into 169,239,905 Class A ordinary shares. Basic and diluted EPS are the same for each class of ordinary share because they are entitled to the same liquidation and dividend rights. The following table sets forth the computation of basic and diluted net income per share for the years ended December 31, 2020, 2021 and 2022: For the years ended December 31, Basic EPS: 2020 2021 2022 Class A Ordinary Class B Class A Class B Class A Ordinary Shares Class B Ordinary Shares RMB RMB RMB RMB RMB US$ RMB US$ Numerator: Net income (loss) attributable to Cango Inc’s shareholders 2,513,009,017 856,508,830 (6,374,737 ) (2,169,615 ) (815,323,647 ) (118,210,814 ) (295,884,236 ) (42,899,182 ) Denominator: Number of shares used for Basic EPS computation (millions of shares) 224.10 76.38 216.28 73.61 201.10 201.10 72.98 72.98 Basic EPS 11.21 11.21 (0.03 ) (0.03 ) (4.05 ) (0.59 ) (4.05 ) (0.59 ) For the years ended December 31, Diluted EPS: 2020 2021 2022 Class A Class B Class A Class B Class A Ordinary Shares Class B Ordinary Shares RMB RMB RMB RMB RMB US$ RMB US$ Numerator: Net income (loss) attributable to ordinary shareholders 2,522,647,912 846,869,935 (6,374,737 ) (2,169,615 ) (815,323,647 ) (118,210,814 ) (295,884,236 ) (42,899,182 ) Reallocation of net income as a result of conversion of Class B to Class A shares 846,869,935 — (2,169,615 ) — (295,884,236 ) (42,899,182 ) — — Net income (loss) attributable to ordinary shareholders for diluted EPS 3,369,517,847 846,869,935 (8,544,352 ) (2,169,615 ) (1,111,207,883 ) (161,109,996 ) (295,884,236 ) (42,899,182 ) Denominator: (millions of shares) Number of shares used for basic EPS computation 224.10 76.38 216.28 73.61 201.10 201.10 72.98 72.98 Weighted average effect of dilutive securities: Conversion of Class B to Class A ordinary shares 76.38 — 73.61 — 72.98 72.98 — — Adjustments for dilutive share options 3.42 — — — — — — — Number of shares used for diluted EPS computation 303.90 76.38 289.89 73.61 274.08 274.08 72.98 72.98 Diluted EPS 11.09 11.09 (0.03 ) (0.03 ) (4.05 ) (0.59 ) (4.05 ) (0.59 ) Earnings (losses) per share – ADS: Denominator used for earnings (losses) per ADS – basic 112.05 108.14 100.55 100.55 Denominator used for earnings (losses) per ADS – diluted 151.95 144.95 137.04 137.04 Earnings (losses) per ADS – basic 22.43 (0.06 ) (8.11 ) (1.18 ) Earnings (losses) per ADS – diluted 22.18 (0.06 ) (8.11 ) (1.18 )

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	18. FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurement Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Include observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 – Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Assets and Liabilities Measured or Disclosed at Fair Value on a recurring basis In accordance with ASC 820, the Company measures short-term investment, equity investments with readily determinable fair value and derivatives instruments on a recurring basis. The fair value of time deposits is determined based on the prevailing interest rates in the market. The fair value of wealth management products is measured based on observable market prices, when available. If observable market prices are not available, the Company determines fair value based using a market-based discount rate and considers recent market transactions, experience with similar securities, and current business conditions. The fair value of derivative financial liability is measured base on inputs derived from or corroborated by observable market data. In 2020, upon the completion of Li Auto IPO, the fair value of the Company’s investment in the equity security of publicly listed company is measured using quoted market prices. The Company did not transfer any assets in or out of level 3 during the years ended December 31, 2021 and 2022. The following table summarizes the Company’s financial assets and financial liabilities measured and recorded at fair value on recurring basis as of December 31, 2021: As of December 31, 2021 Active market Observable input Non-observable input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Asset: Short-term investment 464,715,237 2,134,220,467 — 2,598,935,704 Liability: Derivative financial liability — 5,346,389 — 5,346,389 The following table summarizes the Company’s financial assets and financial liabilities measured and recorded at fair value on recurring basis as of December 31, 2022: As of December 31, 2022 Active market Observable input Non-observable input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Asset: Short-term investment — 1,941,432,848 — 1,941,432,848 As of December 31, 2022 Active market Observable input Non-observable input (Level 1) (Level 2) (Level 3) Total US$ US$ US$ US$ Assets: Short-term investment — 281,481,304 — 281,481,304

Share-based Compensation

Share-based Compensation	12 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-based Compensation	19. SHARE-BASED COMPENSATION On May 25, 2018, the Board of Directors of Cango Inc. approved the Employee Stock Ownership Plan (the “ESOP”) for the purpose of providing incentives and rewards to employees and executives who contribute to the success of the Company’s operations, and approved 27,845,526 options under the ESOP. The exercise price for such options is US$1.7951 per share. Options under the Company’s plan vest over a total period of 4 years from the grant date, pursuant which 50% of the options will vest upon the second anniversary of the grant date and 25% of the options will vest upon the third anniversary and fourth anniversary of the grant date, respectively. Any unvested options will be forfeited upon termination of a grantee’s employment with the Company, unless otherwise determined by the plan’s administrator. In May 2018, the Company granted 5,569,105 options (Batch 1) to certain eligible employees. In February 2019, the Company granted another 5,569,105 options (Batch 2). In October 2020, the Company granted another 8,353,658 options (Batch 3). In May 2021, the Company granted another 8,454,422 options (Batch 4). On August 1, 2022, the Company granted another 28,000 options (Batch 5-1) 5-2). 5-1, 5-2 On April 22, 2022, the Company’s Board of Directors authorized the grant of an option to purchase 6,000,000 Class A Ordinary Shares to Mr. Xiaojun Zhang and an option to purchase 6,000,000 Class A Ordinary Shares to Mr. Jiayuan Lin. Such Share Options are granted in consideration of Mr. Zhang and Mr. Lin’s roles in guiding the Company’s profitable investment in Li Auto Inc., and shall vest immediately upon grant, and have an exercise price of US $1.2951 per Class A Ordinary Share. The option was granted on June 16, 2022. According to the terms of the ESOP, in the event of the Company distributing cash dividend other than normal cash dividends to its shareholders which affects the price of ordinary shares, an adjustment is required for all outstanding options under the ESOP to reflect such change with respect to exercise price per share. On March 11, 2021, the Company’s Board of Directors approved a special cash dividend of US$0.50 per ordinary share based on the Company’s outstanding ordinary shares. This special cash dividend, aggregating approximately RMB955.4 million (US$147.1 million) was paid to shareholders of record as of the close of trading on March 22, 2021 (Eastern Time). The exercise price of all unexercised options of the ESOP was adjusted from US$1.7951 per share to US$1.2951 per share from March 22, 2021. On April 22, 2022, the Company’s Board of Directors approved a special cash dividend of US$0.50 per ordinary share based on the Company’s outstanding ordinary shares. This special cash dividend, aggregating approximately RMB913.3 million (US$136.6 million) was paid to shareholders (netted with dividend received related with treasury shares) of record as of the close of trading on May 25, 2022 (Eastern Time). The exercise price of all unexercised options of the ESOP was adjusted from US$1.2951 per share to US$0.7951 per share from June 16, 2022. On October 11, 2022, the Company’s Board of Directors approved a special cash dividend of US$0.50 per ordinary share based on the Company’s outstanding ordinary shares. This special cash dividend, aggregating approximately RMB957.7 million (US$134.8 million) was paid to shareholders of record as of the close of trading on October 24, 2022 (Eastern Time). The exercise price of all unexercised options of the ESOP was adjusted from US$0.7951 per share to US$0.2951 per share from November 24, 2022. Prior to the Company’s IPO, the estimated fair value of the Company’s ordinary shares at their respective grant dates, was determined with the assistance of an independent third-party valuation firm. Upon the completion of IPO, the estimated fair value of the Company’s ordinary shares was based on the Company’s share price. The risk-free interest rate for periods within the contractual life of the options is based on the U.S. treasury yield curve in effect at the time of grant for a term consistent with the contractual term of the awards. Expected volatility is estimated based on the historical volatility ordinary shares of several comparable companies in the same industry. The dividend yield is estimated based on the Company’s expected dividend policy over the expected term of the options. The expected exercise multiple is estimated by management based on changes in intrinsic value of the option and likelihood of early exercises by employees, which the Company believes is representative of the future. The Company uses the binomial tree option pricing model to estimate the fair value of share options with the assistance of an independent third-party valuation firm. The assumptions used to value the share options granted to employees were as follows: As of May 25, 2018, As of February 15, 2019, (date of inception) As of October 15, 2020, (date of inception) As of May 1, 2021, (date of As of June 16, 2022, (date of As of August (date of As of August (date of Batch 1 Batch 2 Batch 3 Batch 4 Batch 5-1 Batch5-2 Risk-free interest rate (%) 2.93 2.66 0.74 0.74 3.20 2.59 2.59 Volatility (%) 38.70 38.70 37.60 38.00 47.80 48.10 48.10 Expected exercise multiple 2.80 2.30 2.30 2.30 2.80 2.80 2.20 Dividend yield Nil Nil Nil Nil Nil Nil Nil Expected life (in years) 10.00 10.00 10.00 10.00 10.00 10.00 10.00 Exercise price (US$) 1.7951 1.7951 1.7951 1.2951 0.7951 0.7951 0.7951 Fair value of ordinary shares (RMB) 37.82 26.80 19.03 21.72 10.52 8.66 8.66 The Company recognized compensation cost for the share options on a graded vesting basis. The total share-based compensation expenses recognized by the Company for the share option granted were RMB78,754,828, RMB87,634,835 and RMB158,522,520 (US$22,983,605) for the years ended December 31, 2020, 2021 and 2022, respectively. The total fair value of options vested during the years ended December 31, 2020, 2021 and 2022 were RMB70,486,300, RMB80,710,465 and RMB95,854,700 (US$13,897,625), respectively. A summary of option activity under the ESOP is as follows: Number of Weighted average Weighted average Aggregate RMB RMB RMB Balance, December 31, 2019 10,826,997 12 32 Granted 8,353,658 12 19 Exercised (600,014 ) 12 38 8,104,920 Forfeited (69,914 ) 12 24 Balance, December 31, 2020 18,510,727 12 26 Granted 8,454,422 8 22 Exercised (737,228 ) 11 30 13,715,140 Forfeited (281,151 ) 9 22 Balance, December 31, 2021 25,946,770 8 25 Granted 13,613,000 5 10 Exercised (1,817,288 ) 4 25 5,086,872 Forfeited (1,687,224 ) 6 20 Balance, December 31, 2022 36,055,258 2 20 Vested or expected to vest at December 31, 2022 35,974,369 2 89,299,258 Exercisable at December 31, 2022 21,567,181 2 53,536,263 As of December 31, 2022, total unrecognized compensation expense relating to unvested options of Batch 1, Batch 2, Batch 3 , Batch 4, Batch 5-1 5-2 5-1and 5-2 5-1and 5-2 For the years ended December 31, 2020, 2021 and 2022, the Company allocated share-based compensation expense as follows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cost of revenue 3,075,317 4,927,484 4,160,056 603,152 Sales and marketing 16,003,486 15,311,101 14,691,410 2,130,054 General and administrative 55,590,630 63,035,444 135,888,877 19,702,035 Research and development 4,085,395 4,360,806 3,782,177 548,364 78,754,828 87,634,835 158,522,520 22,983,605

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	20. COMMITMENTS AND CONTINGENCIES Capital commitments The Company’s capital commitments primarily relate to commitments in connection with the expansion and improvement of its network infrastructure. Total capital commitments contracted but not yet reflected in the financial statements amounted to RMB770,000 (US$111,640) as of December 31, 2022. Almost all of the commitments relating to the network infrastructure are to be fulfilled within one year. Legal contingencies The Company is not currently involved in any legal proceedings which could result in material loss contingencies. Risk assurance contingencies The Company estimated and accrued for the contingent loss related to the risk assurance liability as disclosed in Note 11.

Ordinary Shares

Ordinary Shares	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Ordinary Shares	21. ORDINARY SHARES On October 9, 2017 and November 29, 2017, the Company issued 124,969,987 ordinary shares in total with par value of US$0.0001 to its shareholders in connection with the incorporation of the Company (Note 1). As of December 31, 2017, 372,138,271 ordinary shares were authorized and 124,969,987 ordinary shares were issued and outstanding, respectively. Upon completion of the Company’s IPO on July 26, 2018, 169,239,905 Class A ordinary shares were issued upon conversion of all redeemable convertible preferred shares. The rights of the holders of Class A and Class B ordinary shares are identical, except with respect to voting and conversion rights. Each share of Class A ordinary shares is entitled to one vote per share and is not convertible into Class B ordinary shares under any circumstances. Each share of Class B ordinary shares is entitled to twenty votes per share and is convertible into one Class A ordinary share at any time by the holder thereof. Upon any transfer of Class B ordinary shares by the holder thereof to any person or entity that is not an affiliate of such holder, such Class B ordinary shares would be automatically converted into an equal number of Class A ordinary shares. Upon completion of the Company’s IPO, 8,000,000 Class A ordinary shares (4,000,000 ADS equivalent) were issued on July 30, 2018, and 600,000 Class A ordinary shares (300,000 ADS equivalent) were issued on August 6, 2018 pursuant to the underwriters’ partial exercise of their option to purchase additional ADSs. On June 17, 2019, one Class A ordinary share was cancelled. On June 26, 2019, 609,805 shares Class B ordinary shares were converted to equivalent number of Class A ordinary shares. On August 14, 2019, 1,737,238 shares Class B ordinary shares were converted to equivalent number of Class A ordinary shares. On May 27, 2020, one Class A ordinary share was cancelled. On September 14, 2020, 2,000,000 shares Class B ordinary shares were converted to equivalent number of Class A ordinary shares. On April 27, 2021, 2,000,000 shares Class B ordinary shares were converted to equivalent number of Class A ordinary shares. As of December 31, 2022, there were 229,831,213 and 72,978,677 Class A and Class B ordinary shares issued, 196,605,493 and 72,978,677 Class A and Class B ordinary shares outstanding respectively.

Treasury shares

Treasury shares	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Treasury shares	22. TREASURY SHARES On June 5, 2019, the Board of Directors of the Company authorized a share repurchase program (“Share Repurchase Program 2019”), pursuant to which the Company was authorized to repurchase its own issued and outstanding American depositary shares (“ADSs”) up to an aggregate value of US$10 million from the open market, in negotiated transactions off the market, or through other legally permissible means in accordance with applicable securities laws from time to time. On July 19, 2019, the Company repurchased an aggregate of 431,556 ADSs, representing 863,112 Class A ordinary shares under the Share Repurchase Program 2019, at an average price of $6.95 per ADS, for US$2,999,314 (RMB20,638,881). On May 29, 2020, the Company entered ADS Repurchase Agreements with Minghuai L.P., Xiehuai L.P. and Haitong International Investment Holding Limited which repurchased an aggregate of 1,398,516 ADSs, under Share Repurchase Program 2019, representing 2,797,032 Class A ordinary shares, at an average price of $5.00 per ADS, for US$6,992,580 (RMB49,219,318) in 2020. On March 2, 2021 and August 19, 2021, the Board of Directors of the Company authorized two share repurchase program (“Share Repurchase Programs 2021”), respectively, pursuant to which the Company may repurchase up to total US$100 million worth of its outstanding (i) American depositary shares (“ADSs”), each representing two Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from the effective date (the “Effective Date”) of the Share Repurchase Programs 2021. On March 15, 2021, the Company entered ADS Repurchase Agreements with Xiehuai L.P. which repurchased an aggregate of 3,000,000 ADSs, under Share Repurchases Programs 2021, representing 6,000,000 Class A ordinary shares, at an average price of $9.45 per ADS, for US$28,350,000 (RMB184,728,600). On April 22, 2022, the Board of Directors of the Company authorized a new share repurchase program (the “New Share Repurchase Program”) under which the Company may repurchase up to US$50 million worth of its outstanding (i) American depositary shares (“ADSs”), each representing two Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from April 25, 2022. On September 28, 2022, the Company entered ADS Repurchase Agreements with Xiehuai L P. which repurchased an aggregate of 1,735,027 ADSs under the New Share Repurchase Program, representing 3,470,054 Class A ordinary shares, at an average price of $2.30 per ADS, for US$3,991,729 (RMB28,791,942). Under Share Repurchase Programs 2021 and New Share Repurchase Program, the Company may repurchase its ADSs from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof. In 2022, the Company repurchased another aggregate of 4,124,098 ADSs, representing 8,248,196 Class A ordinary shares under the Share Repurchase Programs 2021 and New Share Repurchase Program. As of December 31, 2022, the Company repurchased an aggregate of 18,190,125 ADSs, representing 36,380,250 Class A ordinary shares under the Share Repurchase Program 2019, Share Repurchase Programs 2021 and New Share Repurchase Program, at an average price of $5.16 per ADS, for US$93,776,334 (RMB620,094,680). As of December 31, 2022, 3,154,530 Class A ordinary

Restricted Net Assets

Restricted Net Assets	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Restricted Net Assets	23. RESTRICTED NET ASSETS The Company is a holding company with no material operations of its own and conducts the operations primarily through its PRC subsidiaries and the VIEs. As an offshore holding company, the Company is permitted under PRC laws and regulations to provide funding from the proceeds of its offshore fundraising activities to its PRC subsidiaries only through loans or capital contributions, and to its VIEs only through loans, in each case subject to the satisfaction of the applicable government registration and approval requirements. The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the VIEs and subsidiaries of the VIEs incorporated in PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The consolidated results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries. Under PRC law, the Company’s subsidiaries, VIEs and the subsidiaries of the VIEs located in the PRC (collectively referred as the “PRC entities”) are required to provide for certain statutory reserves, namely a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. The PRC entities are required to allocate at least 10% of their after tax profits on an individual company basis as determined under PRC accounting standards to the statutory reserve and has the right to discontinue allocations to the statutory reserve if such reserve has reached 50% of registered capital on an individual company basis. In addition, the registered capital of the PRC entities is also restricted. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the Board of Directors of the subsidiary. The PRC entities are also subject to similar statutory reserve requirements. These reserves can only be used for specific purposes and are not transferable to the Company in the form of loans, advances or cash dividends. For the years ended December 31, 2020, 2021 and 2022, there were no other material assets transferred, and there were no dividends or distributions between the Company, the Company’s subsidiaries and the VIEs for the periods presented. In addition, the Company’s subsidiaries do not intend to pay dividends or fully settle amounts due to the Company. Amounts restricted that include paid in capital and statutory reserve funds, as determined pursuant to PRC GAAP, are RMB6,301 million and RMB5,621million (US$815 million) as of December 31, 2021 and 2022, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	24. SUBSEQUENT EVENTS Pursuant to the New Share Repurchase Program authorized on April 22, 2022, the Company had repurchased 350,812 ADSs from the open market with cash in the aggregate amount of approximately US$410,482 during the period from January 1, 2023 to April 17, 2023 . On April 21, 2023, the Company announced that its board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$50 million worth of its outstanding (i) American depositary shares (“ADSs”), each representing two Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from April 25, 2023.

Condensed Financial Information

Condensed Financial Information of the Parent Company	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of the Parent Company	25. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The following is the condensed financial information of the Company on a parent company only basis. Condensed balance sheets As of December 31, 2021 2022 RMB RMB US$ ASSETS Current assets Cash and cash equivalents 857,888,496 85,823,048 12,443,172 Short-term investments 1,679,107,862 1,149,961,626 166,728,763 Short-term amounts due from subsidiaries (other than WFOE) 738,960,885 402,663,708 58,380,750 Other current assets 1,964,886 4,395,552 637,295 Total Current assets 3,277,922,129 1,642,843,934 238,189,980 Non-current Investments in subsidiaries 64,698,500 54,820,009 7,948,154 Contractual interest in the VIEs and VIEs’ subsidiaries* 3,965,065,845 2,978,731,315 431,875,444 Total non-current 4,029,764,345 3,033,551,324 439,823,598 Total assets 7,307,686,474 4,676,395,258 678,013,578 LIABILITIES Current liabilities Short-term amounts due to subsidiaries (other than WFOE) — 34,502,715 5,002,423 Other current liabilities 276,372,739 319,983,531 46,393,251 Total current liabilities 276,372,739 354,486,246 51,395,674 Other non-current liabilities 40,746,914 7 1 Total non-current liabilities 40,746,914 7 1 Total liabilities 317,119,653 354,486,253 51,395,675 Shareholders’ equity Class A Ordinary shares (par value of US$0.0001 per share; 420,674,280 shares authorized as of December 31, 2021 and 2022, respectively; 229,831,213 shares issued and 206,506,455 shares outstanding as of December 31, 2021; 229,831,213 shares issued and 196,605,493 shares outstanding as of December 31, 2022) 154,483 154,483 22,398 Class B Ordinary shares (par value of US$0.0001 per share; 79,325,720 shares authorized as of December 31, 2021 and 2022, respectively; 72,978,677 shares issued and outstanding as of December 31, 2021; 72,978,677 shares issued and outstanding as of December 31, 2022) 49,777 49,777 7,217 Treasury shares (485,263,213 ) (559,005,216 ) (81,048,138 ) Additional paid-in 4,671,769,821 4,805,240,472 696,694,379 Accumulated other comprehensive (loss) income (187,517,110 ) 66,359,902 9,621,281 Retained earnings 2,991,373,063 9,109,587 1,320,766 Total shareholders’ equity 6,990,566,821 4,321,909,005 626,617,903 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 7,307,686,474 4,676,395,258 678,013,578 Condensed statements of comprehensive income (loss) For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ General and administrative (11,854,536 ) (10,079,685 ) (7,443,140 ) (1,079,154 ) Interest income 1,889,711 4,440,117 26,502,229 3,842,462 Foreign exchange loss (706,543 ) (390,858 ) (411,971 ) (59,730 ) Net gain (loss) on equity securities 3,315,475,734 (27,278,116 ) (14,671,470 ) (2,127,163 ) Share of income (loss) of subsidiaries (17,947,567 ) (15,118,076 ) (9,705,617 ) (1,407,182 ) Contractual interests in the VIEs and VIEs’ subsidiaries* 395,464,418 37,717,412 (1,131,232,451 ) (164,013,288 ) Other income 4,725,168 1,928,027 24,251,883 3,516,195 Other expense (4,184 ) (6,218,510 ) (8,186 ) (1,187 ) Net income (loss) before income taxes 3,687,042,201 (14,999,689 ) (1,112,718,723 ) (161,329,047 ) Income tax expense (317,524,354 ) 6,455,337 1,510,840 219,051 Net income (loss) 3,369,517,847 (8,544,352 ) (1,111,207,883 ) (161,109,996 ) Other comprehensive income (loss), net of tax (234,817,165 ) (72,130,683 ) 253,877,012 36,808,707 Total comprehensive income (loss), net of tax 3,134,700,682 (80,675,035 ) (857,330,871 ) (124,301,289 ) Condensed statements of cash flows For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Net income (loss) 3,369,517,847 (8,544,352 ) (1,111,207,883 ) (161,109,996 ) Net gain (loss) on equity securities (3,315,475,734 ) 27,278,116 14,671,470 2,127,163 Share of income (loss) of subsidiaries 17,947,567 15,118,076 9,705,617 1,407,182 Contractual interests in the VIEs and VIEs’ subsidiaries* (395,464,418 ) (37,717,412 ) 1,131,232,451 164,013,288 Changes in operating assets and liabilities 310,474,194 (6,320,138 ) (182,850 ) (26,513 ) Net cash (used in) provided by operating activities (13,000,544 ) (10,185,710 ) 44,218,805 6,411,124 Net cash provided by investing activities 456,658,680 2,150,227,042 1,028,108,135 149,061,668 Net cash used in financing activities (310,709,163 ) (1,391,602,116 ) (1,969,849,465 ) (285,601,326 ) Effect of exchange rate changes on cash and cash equivalents and restricted cash (19,238,574 ) (5,443,535 ) 125,457,077 18,189,566 Net increase (decrease) in cash and cash equivalents and restricted cash 113,710,399 742,995,681 (772,065,448 ) (111,938,968 ) Cash and cash equivalents and restricted cash at beginning of the year 1,182,416 114,892,815 857,888,496 124,382,140 Cash and cash equivalents and restricted cash at end of the year 114,892,815 857,888,496 85,823,048 12,443,172 * It represents the primary beneficiary’s share of income or loss generated from the VIEs and their subsidiaries. Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and VIEs. The parent company records its investment in its subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323, Investments – Equity Method and Joint Ventures The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with the generally accepted accounting principles of the United States (“U.S. GAAP”).
Principles of consolidation	Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs, and the subsidiaries of the VIEs. All inter-company transactions and balances have been eliminated.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates reflected in the Company’s consolidated financial statements include, but are not limited to allowance for accounts receivable, allowance for financing receivables, allowance for finance lease receivables, allowance for contract assets, fair value of risk assurance liabilities, intangible assets with indefinite lives, valuation allowance for deferred tax assets and goodwill impairment. Management bases these estimates on its historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.
Revenue recognition	Revenue recognition The Company’s revenues are derived principally from 1) automobile trading income, 2) loan facilitation services and post-origination administrative services, 3) finance lease services, 4) after-market services facilitation services, and 5) other income. Under ASC 606, Revenue from Contracts with Customers • Identify the contract(s) with a customer; • Identify the performance obligations in the contract; • Determine the transaction price; • Allocate the transaction price to the performance obligations in the contract; and • Recognize revenue when (or as) the entity satisfies a performance obligation. Automobile trading transaction When providing car trading services, the Company evaluates if it is a principal or an agent in a transaction to determine whether revenues should be recorded on a gross or net basis. The Company acts as a principal in which the Company purchases vehicles from suppliers which are vehicle manufacturers or their first-tier car dealerships and sells the vehicles to customers which are other car dealerships and records revenue on a gross basis if it obtains control over the specified goods and services before they are transferred to the customers. When the Company acts as an agent, revenue is recorded on a net basis when the Company does not obtain control over the specified goods and services before they are transferred to the customers. The revenue generated from sale of vehicles is recognized at a point in time when the control of the vehicles is transferred from the Company to the customers when the vehicles are delivered and their titles are passed on to the customers. Loan facilitation services and PAS The Company entered into non-risk The Company determines its customers to be both the financial institutions and borrowers. The Company considers the loan facilitation service, PAS and risk assurance services as separate services, of which the risk assurance service is accounted for in accordance ASC 460, Guarantees The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised services to the customer, net of value-added tax. The transaction price includes variable service fees which are contingent on the borrower making timely repayments. Variable consideration is estimated using the expected value method based on historical default rate, current and forecasted borrower repayment trends and is limited to the amount of variable consideration that is probable not to be reversed in future periods. As a result, the estimation of variable consideration involves significant judgement. The Company makes the assessment of whether the estimate of variable consideration is constrained. Any subsequent changes in the transaction price will be allocated to the performance obligations on the same basis as at contract inception. The Company first allocates the transaction price to the risk assurance liabilities at fair value in accordance with ASC 460. The remaining transaction price is then allocated to the loan facilitation services and PAS on a relative standalone selling price basis. The Company does not have observable price for the loan facilitation services and PAS because the services are not provided separately. As a result, the estimation of standalone selling price involves significant judgement. The Company estimates the standalone selling price of the loan facilitation and PAS using the expected cost plus a margin approach. The fee allocated to loan facilitation is recognized as revenue upon each successful loan facilitation, while the fee allocated to PAS are deferred and amortized over the period of the loan on a straight-line method as the PAS services are performed. PAS revenue recognized in the years ended December 31, 2020, 2021 and 2022 is RMB73,775,464, RMB41,561,564 and RMB23,411,975 (US$3,394,417), respectively. The loan facilitation services and PAS are recorded as Loan facilitation income and other related income in the consolidated statements of comprehensive income (loss). Finance lease services The Company provides automobile finance lease services to individual borrowers. Financing lease income is recognized using the effective interest method. Initial direct cost received and direct origination costs are generally deferred and amortized over the term of the related finance lease receivables using the effective interest method and are removed from the consolidated balance sheets when the related finance lease receivables are sold, charged off or paid in full. After-market services income The Company provides after-market services to car buyers which mainly include two types of separate contracts, 1) insurance facilitation service and 2) car recovery and disposal services. For 1) after-market insurance facilitation service, it mainly includes two types of contracts, one is facilitating personal accident insurance and automobile insurance, and the other is offering anti-theft package services. After-market insurance facilitation service income for personal accident insurance and automobile insurance is recognized at the point of time when facilitation services are completed. For anti-theft package services, the Company first allocates the fair value of indemnification service under ASC 460 and then allocates the remaining consideration to the after-market service of anti-theft telematic devises installment. For 2) after-market car recovery and disposal services income, it mainly refers to delinquent asset management income for car recovery and disposal services, which is recognized at the point of time when the company delivers the relevant service.
Business Combinations	Business combinations The Company accounts for its business combinations using the purchase method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”) non-controlling non-controlling The determination and allocation of fair values to the identifiable assets acquired, liabilities assumed and non-controlling
Leases	Leases Operating Leases – Lessee under ASC 842 The Company has operating leases for certain office rentals as a lessee. At inception of a contract, the Company determines whether that contract is, or contains a lease. For each lease arrangement identified, the Company determines its classification as an operating or finance lease. As of January 1, 2022, the Company records a lease liability and corresponding operating lease right-of-use non-cancellable right-of-use If there is a lease modification, the Company considers whether the lease modification results in a separate contract. If so, the Company accounts for the separate contract the same manner as any other new lease, in addition to the original unmodified contract. Otherwise, the Company remeasures and reallocates the remaining consideration in the contract, reassesses the classification of the lease at the effective date of the modification and accounts for any initial direct costs, lease incentives and other payments made to or by the lessee. If the modification fully or partially terminates the existing lease, the Company remeasures the lease liability and decreases the carrying amount of the right-of-use right-of-use Besides, operating lease expense is recognized as a single lease cost on a straight-line basis over the lease term and is included in general and administrative expenses, on the consolidated statements of comprehensive income (loss). Lease liabilities that become due within one year of the balance sheet date are classified as current liabilities. Operating leases under ASC 840 Before January 1, 2022, leases where the Company is the lessee, and substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Rentals applicable to such operating leases are recognized on a straight-line basis over the lease term. Certain of the operating lease agreements contain rent holidays. Rent holidays are considered in determining the straight-line rent expense to be recorded over the lease term.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business. The Company’s goodwill on December 31, 2022 was primarily related to the acquisition of Shanghai Chejia in 2018. In accordance with ASC 350, Intangibles – Goodwill and Other The Company applied Accounting Standards Update (“ASU”) No. 2017-04, Simplifying the Test for Goodwill Impairment 2017-04”), Pursuant to ASC 350, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit of Cango Inc. is greater than its carrying value. If a qualitative assessment is not performed, or if as a result of a qualitative assessment it is not more likely than not that the fair value of a reporting unit exceeds its carrying value, then the reporting unit’s fair value is compared to its carrying value. As of December 31, 2021 and 2022, the Company completed its annual impairment test for goodwill under a quantitative impairment test of goodwill in which the Company performs an assessment that consists of a comparison of the carrying value of a reporting unit with its fair value. The fair values of the reporting unit are determined using income valuation approaches through the application of discounted cash flow method. Estimating fair values of the reporting unit involves significant assumptions, including future revenue growth rates, gross margin, terminal growth rates and discount rates. No impairment losses on goodwill and intangible assets were recognized during the years ended December 31, 2021 and 2022.
Cost of revenues	Cost of revenues Cost of revenues consist primarily of cost of vehicles, commissions paid to car dealers who refer borrowers to the Company, employee compensation costs, leasing interest expense, cost of telematics devices installed in automobiles and third-party outsourcing fees for vehicle repossession services. Cost of revenues are expensed as incurred when the corresponding services have been provided.
Foreign currency translation and transactions	Foreign currency translation and transactions The functional currency of the Company, Cango HK and Express Limited is the US$. The Company’s subsidiaries, VIEs, and subsidiaries of the VIEs with operations in the PRC adopted RMB as their functional currencies. The determination of the respective functional currency is based on the criteria stated in ASC 830, Foreign Currency Matters Transactions in currencies other than the functional currency are measured and recorded in the functional currency at the exchange rate prevailing on the transaction date. Monetary assets and liabilities denominated in currencies other than the functional currency are re-measured
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents primarily consist of cash, investments in interest bearing demand deposit accounts, time deposits, and highly liquid investments with original maturities within three months from the date of purchase and are stated at cost which approximates their fair value. All cash and cash equivalents are unrestricted as to withdrawal and use. As of December 31, 2022, majority of the Group’s cash and cash equivalents, restricted cash and short-term investments were held by financial institutions located in mainland China and Hong Kong. Deposits held in mainland China are subject to restrictions on foreign exchange and the ability to transfer cash outside of mainland China. In May 2015, a new Deposit Insurance System (“DIS”) managed by the People’s Bank of China (‘‘PBOC’’) was implemented by the Chinese government. Deposits in the licensed banks in mainland China are protected by DIS, up to a limit of RMB500 thousands. Hong Kong has an official Deposit Protection Scheme (“DPS”). Deposits in the licensed banks in Hong Kong are protected by DPS, up to a limit of HK$500 thousands. The Group selected reputable financial institutions to place its cash and cash equivalents, restricted cash and short-term investments. The Group regularly monitors the rating of the financial institutions to avoid any potential defaults. There has been no recent history of default in relation to these financial institutions.
Restricted cash	Restricted cash Restricted cash represents cash deposited with the respective financial institution customers as (i) collaboration and guarantee deposits in relation to facilitation transaction with financial institutions, and (ii) collateral for notes payable for automobile trading business. Financial institutions make corresponding deductions from the collaboration and guarantee deposits in relation to facilitation transaction with financial institutions, when borrowers are delinquent in their installment repayments and/or when loans are required to be purchased by the Company after a specified delinquency period. Such restricted cash is not available to fund the general liquidity needs of the Company. The balance of restricted cash deposited as collaboration and guarantee deposits in relation to facilitation transaction with financial institutions was RMB1,123,680,213 and RMB766,893,846 (US$111,189,156) as of December 31, 2021 and 2022, respectively. The balance of restricted cash deposited as collateral for notes payable for automobile trading business was RMB51,793,630 and RMB136,671,970 (US$19,815,573) as of December 31, 2021 and 2022, respectively.
Accounts receivable and allowance for doubtful accounts	Accounts receivable and allowance for doubtful accounts Accounts receivable are recognized and carried at the original contract amount which will be invoiced, net of allowances for doubtful accounts. An allowance for doubtful accounts is recorded in the period when loss is probable based on many factors, including the age of the balance, the customer’s payment history and current economic trends. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. Bad debts are written off after all collection efforts have been exhausted.
Contract assets and liabilities	Contract assets and liabilities Contract assets represents the Company’s right to consideration in exchange for loan facilitation services that the Company has transferred to the customer before payment is due. The Company assesses contract assets for impairment in accordance with ASC 310, Receivables Contract assets as of December 31, 2021 and 2022 was RMB1,325,397,497 and RMB673,846,832 (US$97,698,607), respectively. The remaining unsatisfied performance obligations as of December 31, 2021 and 2022, pertaining to post-origination services amounted to RMB5,461,882 and RMB1,001,890 (US$145,260), respectively. Contract liabilities represents the Company’s obligation to transfer goods or services to a customer for which the entity has received consideration (or an amount of consideration is due) from the customer and mainly consist of cash payment received in advance from customers of automobile trading transactions and PAS, which is included in “Accrued expenses and other current liabilities” and “Other non-current
Short-term investments	Short-term investments All highly liquid investments such as time deposits and structured deposits with original maturities of three months or more but less than one year, are classified as short-term investments The Company accounts for short-term debt investments in accordance with ASC 320, Investments – Debt Securities Investments – Equity Securities “held-to-maturity”, “available-for-sale”, Debt securities that the Company has the positive intent and the ability to hold to maturity are classified as held-to-maturity Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities. Unrealized holding gains and losses for trading debt securities are included in earnings. Debt investments not classified as trading or as held-to-maturity available-for-sale Available-for-sale Equity investments measured at fair value with changes in fair value are recorded in earnings. The Company does not assess whether those securities are impaired. Such equity securities include wealth management products in financial institutions. Any realized gains or losses on the sale of the short-term investments are determined on a specific identification method and are reflected in earnings during the period in which gains or losses are realized. Interest income, realized and unrealized gains and losses from the short-term investments are recorded in “Interest income” and “Net gain (loss) on equity securities” respectively in the consolidated statements of comprehensive income (loss).
Derivative Instruments	Derivative instruments In 2019, the Company entered into cross-currency interest rate swap contracts that allow the Company to buy US Dollars at a pre-determined pre-determined The Company accounts for the cross-currency interest rate swap contracts in accordance with ASC 815, Derivatives and Hedging The cross-currency interest rate swap contracts may expose the Company to credit risk to the extent that the counterparty may be unable to meet the terms of the arrangement. The Company mitigates this credit risk by transacting with major financial institutions with high credit ratings. The Company did not pledge cash collateral for its cross-currency interest rate swap contracts as of December 31, 2021 and 2022.
Risk assurance liabilities	Risk assurance liabilities The Company provides risk assurance to various financial institution customers. The risk assurance liability requires the Company to either make delinquent installment repayments or purchase the loans after a specified period on an individual loan basis. The risk assurance liability is exempted from being accounted for as a derivative in accordance with ASC 815-10-15-58. The risk assurance liability consists of two components. The Company’s obligation to stand ready to make delinquent payments or to purchase the loan over the term of the arrangement (the non-contingent Contingencies non-contingent Subsequent to the initial recognition, the non-contingent loan-by-loan
Financing receivables	Financing receivables The Company records financing receivables in accordance with ASC 310-30 , Loan and Debt Securities Acquired with Deteriorated Credit Quality 310-30”) million million million million million million The Company derecognizes financing receivables upon physical possession of the repossessed asset, which includes the transfer of title through the completion of regulatory proceedings. The Company derecognizes the financing receivables which is first adjusted to its estimated fair value of the repossessed asset and records the repossessed asset at its estimated fair value, less cost to sell, as other non-current Repossessed assets are initially recognized at the fair value of the asset less estimated costs to sell. Any gain or loss from the disposal of the repossessed assets are recognized in the consolidated statements of comprehensive income (loss).
Finance lease receivables	Finance lease receivables Finance lease receivables are carried at amortized cost comprising of original financing lease and direct costs, net of unearned income and allowance for finance lease receivables. An account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. Finance lease receivables are collateralized by vehicle titles and, subject to local laws, the Company generally has the right to repossess the vehicle in the event the borrower defaults on the payment terms of the contract. Finance lease receivables are divided among pools based on common risk characteristics, such as products (i.e. new cars and used cars) and delinquent status. As of December 31, 2021 and 2022, the finance lease receivables balances of new cars were RMB2,161,848,785 and RMB895,319,860 (US$129,809,178), respectively, and finance lease receivables balances of used-cars were RMB281,578,014 and RMB164,168,763 (US$23,802,233), respectively. These pools are collectively evaluated for impairment by management judgment. The allowance is aggregated for each of the pools. Provisions for finance lease receivables are charged to operations in amounts sufficient to maintain the allowance for finance lease receivables at levels considered adequate to cover probable losses inherent in our finance lease receivables.
Impaired finance lease receivables	Impaired finance lease receivables A finance lease receivable is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the terms of the contract. Factors such as payment history, compliance with terms and conditions of the underlying financing lease agreement and other subjective factors related to the financial stability of the borrower are considered when determining whether finance lease receivables are impaired.
Nonaccrual policy	Nonaccrual policy The Company does not accrue lease income or interest income on finance lease principals and financing receivables that are considered impaired or are more than 65 to 85 days past due depending on different funding partners. A corresponding allowance is determined under ASC 450-20, Loss Contingencies 450-20”) non-accrual non-delinquent.
Allowance for finance lease receivables and allowance for financing receivables	Allowance for finance lease receivables and allowance for financing receivables The allowance for finance lease receivables and allowance for financing receivables are calculated by multiplying the PD and LGD model based on pools of finance lease receivables or financing receivables with similar risk characteristics, including product types, i.e. new cars and used cars to arrive at an estimate of incurred losses in the portfolio. The PD and LGD model take into consideration factors of historical delinquency migration to loss and loss given default. The Company adjusts the allowance for finance lease receivables that is determined by the PD and LGD model for various macroeconomic factors i.e. gross-domestic product rates, per capita disposable income, interest rates and consumer price indexes and other considerations. Finance lease receivables and financing receivables are charged off when a settlement is reached for an amount that is less than the outstanding balance or when the Company has determined the balance is uncollectable. In general, the Company considers finance fee receivables meeting any of the following conditions as uncollectable and charged-off:
Treasury shares	Treasury shares The Company accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury shares account on the consolidated balance sheets.
Property and equipment, net	Property and equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided using the straight-line method with the residual value based on the estimated useful lives of the class of asset, which range as follows: Category Estimated Useful Life Estimated Residual Value Office and electronic equipment 3-5 5% Motor vehicles 4 years 5% Leasehold improvements Over the shorter of the expected leasehold improvements or the lease term Nil Depreciation expense, for the years ended December 31, 2020, 2021 and 2022, was RMB9,150,590, RMB7,926,513 and RMB5,483,032 (US$794,965), respectively. Accumulated depreciation as of December 31, 2021 and 2022 was RMB26,923,641 and RMB27,518,577 (US$3,989,819 )
Intangible assets	Intangible assets Intangible assets that have definite useful life primarily include purchased computer software. These intangible assets are amortized on a straight-line basis over their estimated useful lives of the respective assets, which vary from 6-10 As of December 31, 2022, intangible assets that have indefinite useful life primarily include an insurance brokerage license purchased in February 2019. The Company evaluates indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, the asset is tested for impairment immediately prior to the change in classification.
Research and development	Research and development Research and development expenses are primarily incurred in the development of new services and new features of the Company’s technology infrastructure to support its business operations. Research and development costs are expensed as incurred unless such costs qualify for capitalization as software development costs. In order to qualify for capitalization, (i) the preliminary project should be completed, (ii) management has committed to funding the project and it is probable that the project will be completed and the software will be used to perform the function intended, and (iii) it will result in significant additional functionality in the Company’s services. No research and development costs were capitalized during any year presented as the Company has not met all of the necessary capitalization requirements.
Impairment of long-lived assets and intangible assets	Impairment of long-lived assets and intangible assets Long-lived assets including intangible assets with definite lives, are assessed for impairment, whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC 360, Property, Plant and Equipment Intangible assets with indefinite lives, are assessed annually for impairment and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired in accordance with ASC 350. Impairment exists when the fair value is less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. No impairment loss was recognized for the years ended December 31, 2020, 2021 and 2022, respectively.
Employee defined contribution plan	Employee defined contribution plan Full time employees of the Company in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund, and other welfare benefits are provided to employees. Chinese labor regulations require that the Company make contributions to the government for these benefits based on a certain percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount that was expensed as incurred was RMB35,451,168, RMB87,227,402 and RMB60,124,007 (US$8,717,162) for the years ended December 31, 2020, 2021 and 2022, respectively.
Value added taxes ("VAT")	Value added taxes (“VAT”) Since its inception, Shanghai Cango was certified as a general VAT taxpayer whose applicable tax rate was 6%. The subsidiaries of the VIEs are all general VAT taxpayers which are subject to tax rate of 6% or 13%, except for Shanghai Wangtian Investment Co., Ltd., and Haikou Cango Technology Co., Ltd., which is certified as small-scale VAT taxpayers with an applicable tax rate of 3%. VAT is reported as a deduction to revenue when incurred and amounted to RMB207,266,214, RMB478,981,515 and RMB262,656,515 (US$38,081,615) for the years ended December 31, 2020, 2021 and 2022, respectively. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in accrued expenses and other current liabilities on the consolidated balance sheets.
Income taxes	Income taxes The Company recognizes income taxes under the liability method. Deferred income taxes are recognized for differences between the financial reporting and tax bases of assets and liabilities at enacted tax rates in effect for the years in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not more-likely-than-not The Company applies the provisions of ASC 740, Income Taxes
Segment information	Segment information In accordance with ASC 280-10, Segment Reporting: Overall 280-10”),
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. For each of the periods presented, the Company’s comprehensive income (loss) includes net income, foreign currency translation adjustments and unrealized (losses) gains on available-for-sale
Fair value measurements	Fair value measurements Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value: Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 Include other inputs that are directly or indirectly observable in the marketplace. Level 3 Unobservable inputs which are supported by little or no market activity. Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial assets and liabilities of the Company primarily consist of cash and cash equivalents, restricted cash, short-term investment, finance lease receivables, financing receivables, other current assets, short-term and long-term debts, derivative financial liability, accrued expenses and other liabilities. The carrying amounts of these financial instruments, except for short-term equity securities, financing receivables, derivative financial liability, non-current non-current non-current non-current
Share-based compensation	Share-based compensation The Company accounts for share-based compensation in accordance with ASC 718, Compensation – Stock Compensation The Company recognizes the compensation costs net of estimated forfeitures using the straight-line method, over the applicable vesting period for each separately vesting portion of the award. In addition, the Company recognizes one-off compensation costs for the award which could be vested immediately upon grant on the grant date. The estimate of forfeitures is adjusted over the requisite service period to the extent that actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures is recognized through a cumulative catch-up The Company, with the assistance of an independent third-party valuation firm, determined the fair value of share-based options granted to employees.
Earnings (losses) per share	Earnings (losses) per share The Company computes earnings (losses) per Class A and Class B ordinary shares in accordance with ASC 260, Earnings Per Share two-class Diluted earnings (losses) per share is computed using the weighted average number of ordinary shares and, if dilutive, potential ordinary shares outstanding during the period. Potentially dilutive securities have been excluded from the computation of diluted net income per share if their inclusion is anti-dilutive. Potential ordinary shares consist of the incremental ordinary shares issuable upon the exercise of stock options and restricted shares subject to forfeiture. The dilutive effect of outstanding stock options and restricted shares is reflected in diluted earnings (losses) per share by application of the treasury stock method. The computation of the diluted earnings (losses) per Class A ordinary share assumes the conversion of Class B ordinary shares to Class A ordinary shares, while diluted earnings (losses) per Class B ordinary share does not assume the conversion of such shares. The liquidation and dividend rights of the holders of the Company’s Class A and Class B ordinary shares are identical, except with respect to voting rights. As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B ordinary shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Further, as the conversion of Class B ordinary shares is assumed in the computation of the diluted earnings (losses) per Class A ordinary share, the undistributed earnings are equal to net income for that computation. For the purposes of calculating the Company’s basic and diluted earnings (losses) per Class A and Class B ordinary shares, the ordinary shares relating to the options that were exercised are assumed to have been outstanding from the date of exercise of such options.
Government grants	Government grants Government subsidies generally consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. The eligibility to receive such benefits and amount of financial subsidy to be granted are determined at the discretion of the relevant government authorities. Such grants have no condition attached and allow the Company full discretion in utilizing the funds and are used by the Company for general corporate purposes. The Company recognize government grants as other income when cash is received from the government. For the amount recognized in other income, please refer to note 15.
Convenience translation for financial statements presentation	Convenience translation for financial statements presentation Translations of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate of RMB6.8972 per
Impact of COVID-19	Impact of COVID-19 Since January 2020 to June 2022, the COVID-19 COVID-19, COVID-19 COVID-19 China began to modify its zero-COVID COVID-19 COVID-19,
Significant risks and uncertainties	Significant risks and uncertainties Currency convertibility risk Substantially all of the Company’s businesses are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China (“PBOC”) or other authorized financial institution at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. Concentration of credit risk Financial assets that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments, financing receivables, finance lease receivables and accounts receivable. The Company places its cash and cash equivalents and short-term investments, with reputable financial institutions which have high-credit ratings. There has been no recent history of default related to these financial institutions. The Company manages credit risk of accounts receivable, financing receivables and finance lease receivables through ongoing monitoring of the outstanding balances. As of December 31, 2021 and 2022, the Company had no single customer with a balance exceeding 10% of the total accounts receivable, financing receivables, and finance lease receivables. Concentration of customers Approximately provision of services to two financial institutions which individually contributed to over 10% revenue derive 36.5% in total (22.3% and 14.2%, respectively) for the years ended December 31, 2020, to only one financial institution contributed to over 10% derives 16.8% of revenue for the year ended December 31, 2021 and to two automobile trading customers contributed to over 10% derives 27.2% in total (14.2% and 13.0%, respectively) of revenue for the year ended December 31, 2022, respectively. Interest rate risk The Company is exposed to interest rate risk on its interest-bearing assets and liabilities. As part of its asset and liability risk management, the Company reviews and takes appropriate steps, including using derivative financial instruments to economically manage its interest rate exposures on its interest-bearing assets and liabilities. The Company has not been exposed to material risks due to changes in market interest rates. Borrower default risk The Company entered into certain risk assured facilitation arrangements whereby it is obligated to purchase delinquent loans from financial institutions. The Company’s operating results could be adversely affected by a significant increase in the overall borrower default rate for loans facilitated under such arrangements. The Company manages its borrowers’ default risk by performing credit checks on each prospective borrower and ongoing monitoring of the Company overall loan portfolio facilitated through the risk assured facilitation arrangement. Business and economic risk The Company believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations or cash flows; changes in the overall demand for services; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in certain strategic relationships; regulatory considerations and risks associated with asset quality and credit assessment; the Company’s ability to expand or maintain or effectively manage relationships with existing network of dealers and online automotive advertising platforms and to attract prospective car buyers and risks related to the COVID-19 Comparative Information Certain items in the consolidated financial statements have been adjusted to conform with the current year’s presentation to facilitate comparison.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (Topic 842) 2016-02”). 2016-02 2016-02 right-of-use 2016-02 The Company elected the package of practical expedients for lessees as permitted under the transition guidance within the new standard. Accordingly, the Company has adopted these practical expedients and did not reassess: (i) whether any expired or existing contracts are or contains leases; (ii) lease classification for any expired or existing leases; (iii) initial direct costs for any existing leases. As a lessee, the Company also elected the practical expedient to account for non-lease The cumulative effect of the changes made to the Company’s consolidated balance sheet as of January 1, 2022 for the adoption of ASC 842, Leases Balance as of December 31, 2021 Adjustments due to the adoption of ASC 842 Balance as of January 1, 2022 RMB RMB RMB Assets Operating lease right-of-use — 88,431,758 88,431,758 Liabilities: Accrued expenses and other current liabilities 719,035,377 (5,181,785 ) 713,853,592 Short-term lease liabilities — 10,403,216 10,403,216 Long-term lease liabilities — 83,210,327 83,210,327 The impact of adopting ASC 842 on the Company’s consolidated balance sheet as of December 31, 2022 is as follows: As reported Balance without the adoption of ASC 842 Effect of change Higher/(lower) RMB RMB RMB Assets: Operating lease right-of-use 80,726,757 — 80,726,757 Liabilities: Accrued expenses and other current liabilities 890,836,699 896,634,483 (5,797,784 ) Short-term lease liabilities 9,913,073 — 9,913,073 Long-term lease liabilities 76,533,208 — 76,533,208 The adoption of the standard did not have significant impact on the Company’s net loss or cash flows for the year ended December 31, 2022. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes-Income Taxes (Topic 740) 2019-12”). In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance 2021-10”), 2021-10 Recent accounting pronouncements As a company with less than US$1.07 billion in revenue for the last fiscal year, the Company qualifies as an “emerging growth company”, or EGC, pursuant to the Jumpstart Our Business Startups Act of 2012, as amended, or the JOBS Act. An EGC may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public companies. These provisions include a provision that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. The Company will take advantage of the extended transition period. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments and respective amendments 2016-13”). 2016-13 No. 2018-19, Codification Improvements to Topic 326, Financial Instruments —Credit Losses 2018-19”), 2016-13 326-20, 2016-13 2018-19 2020-02, Financial Instruments—Credit Losses and Leases (Topic 842)—Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, (Topic 842 ) 2020-02”). non-current In September 2022, the FASB issued ASC 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) 2022-04”). 2022-04

Organization (Tables)

Organization (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Company's Subsidiaries and VIE	As of December 31, 2022, the Company’s subsidiaries and VIEs are as follows: Entity Date of incorporation Place of Percentage of Principal activities Subsidiaries Cango Group Limited (“Cango HK”) October 31, 2017 Hong Kong (“HK”) 100 % Investment holding Express Group Development Limited (“Express Limited”) June 30, 2016 HK 100 % Investment holding Can Gu Long (Shanghai) Information Technology Consultation Service Co., Ltd. (“Cangulong” or Wholly Foreign Owned Enterprise “WFOE”) January 25, 2018 PR 100 % Investment holding VIEs Shanghai Cango Investment and Management Consultation Service Co., Ltd. (“Shanghai Cango”) August 30, 2010 PR Nil Provision of automotive financing facilitation, automobile trading transaction and aftermarket service facilitation. Shanghai Yunguhaoche Electronic Technology Co., Ltd. (“Shanghai Yungu”) March 15, 2022 PR Nil Provision of automobile trading transaction.
Condensed Balance Sheets	The table sets forth the assets and liabilities of the VIEs’ included in the Company’s consolidated balance sheets: As of December 31, 2021 2022 RMB RMB US$ Cash and cash equivalents 531,317,393 268,621,701 38,946,486 Other current assets 3,899,508,069 3,717,898,668 539,044,636 Total current assets 4,430,825,462 3,986,520,369 577,991,122 Finance lease receivables—non-current 1,029,262,174 260,049,967 37,703,701 Other non-current 2,272,293,047 1,246,816,149 180,771,349 Total non-current 3,301,555,221 1,506,866,116 218,475,050 Total assets 7,732,380,683 5,493,386,485 796,466,172 Short-term debts 579,776,131 349,299,134 50,643,614 Other current liabilities 2,561,535,815 1,861,808,449 269,936,851 Total current liabilities 3,141,311,946 2,211,107,583 320,580,465 Long-term debts 486,371,672 75,869,353 11,000,022 Other non-current 11,715,736 86,138,152 12,488,858 Total non-current 498,087,408 162,007,505 23,488,880 Total liabilities 3,639,399,354 2,373,115,088 344,069,345
Condensed Statements of Comprehensive Income	The table sets forth the results of operations of the VIEs included in the Company’s consolidated statements of comprehensive income (loss): For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Revenues 2,052,431,752 3,921,688,104 1,980,415,725 287,133,290 Net income (loss) 399,366,632 37,717,411 (1,131,232,450 ) (164,013,288 )
Condensed Statements of Cash Flows	The table sets forth the cash flows of the VIEs included in the Company’s consolidated statements of cash flows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Net cash used in operating activities (626,884,394 ) (374,886,851 ) (599,053,407 ) (86,854,580 ) Net cash (used in) provided by investing activities (81,038,760 ) 744,832,757 1,084,633,210 157,257,033 Net cash used in financing activities (71,082,260 ) (554,832,190 ) (1,020,359,284 ) (147,938,190 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — (55,087 ) 175,763 25,483

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Estimated Useful Lives of Class of Asset	Category Estimated Useful Life Estimated Residual Value Office and electronic equipment 3-5 5% Motor vehicles 4 years 5% Leasehold improvements Over the shorter of the expected leasehold improvements or the lease term Nil
Summary of Cumulative Effect of Changes in Balance Sheet for Adoption of ASC 842	The cumulative effect of the changes made to the Company’s consolidated balance sheet as of January 1, 2022 for the adoption of ASC 842, Leases Balance as of December 31, 2021 Adjustments due to the adoption of ASC 842 Balance as of January 1, 2022 RMB RMB RMB Assets Operating lease right-of-use — 88,431,758 88,431,758 Liabilities: Accrued expenses and other current liabilities 719,035,377 (5,181,785 ) 713,853,592 Short-term lease liabilities — 10,403,216 10,403,216 Long-term lease liabilities — 83,210,327 83,210,327
Summary of Impact of Adopting ASC 842 on Balance Sheet	The impact of adopting ASC 842 on the Company’s consolidated balance sheet as of December 31, 2022 is as follows: As reported Balance without the adoption of ASC 842 Effect of change Higher/(lower) RMB RMB RMB Assets: Operating lease right-of-use 80,726,757 — 80,726,757 Liabilities: Accrued expenses and other current liabilities 890,836,699 896,634,483 (5,797,784 ) Short-term lease liabilities 9,913,073 — 9,913,073 Long-term lease liabilities 76,533,208 — 76,533,208

Short-Term Investments (Tables)

Short-Term Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Short-term Investments [Abstract]
Summary of Short Term Available For sale Products	As of December 31, 2021 2022 RMB RMB US$ Debt securities: Held-to-maturity 1,803,362,875 1,373,910,523 199,198,301 Equity securities: Marketable wealth management products 330,857,592 567,522,325 82,283,003 Marketable investment in Li Auto* 464,715,237 — — Total short-term investments 2,598,935,704 1,941,432,848 281,481,304 * The Company classified the investment in Li Auto as equity investments with readily determinable fair value. The security was valued using the market approach based on the quoted prices in active markets at the reporting date. The Company classified the valuation techniques that use these inputs as Level 1 of fair value measurements. In the first quarter of 2022, the company disposed all the remaining equity securities in Li Auto.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Summary of Accounts Receivables And Related Allowance For Doubtful Accounts	Accounts receivable and the related allowance for doubtful accounts are summarized as follows: As of December 31, 2021 2022 RMB RMB US$ Accounts receivable 223,544,396 266,836,951 38,687,721 Less: Allowance for doubtful accounts — — — Accounts receivable, net 223,544,396 266,836,951 38,687,721

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2022 were as follows: As of December 31, RMB US$ Balance at December 31, 2020 145,063,857 22,232,009 Goodwill acquired 3,594,114 563,995 Balance at December 31, 2021 148,657,971 23,327,680 Balance at December 31, 2022 148,657,971 21,553,380

Finance Lease Receivables, Net

Finance Lease Receivables, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of Finance Lease Receivables	6.1 Finance lease receivables consists of the following: As of December 31, 2021 2022 RMB RMB US$ Finance lease receivables 2,716,511,586 1,161,811,131 168,446,780 Add: 388,585 380,815 55,213 Less: (241,256,613 ) (80,532,057 ) (11,676,051 ) Less: (32,216,759 ) (22,171,266 ) (3,214,531 ) Total finance lease receivables, net 2,443,426,799 1,059,488,623 153,611,411 Finance lease receivables—current 1,414,164,625 799,438,656 115,907,710 Finance lease receivables—non-current 1,029,262,174 260,049,967 37,703,701
Summary of Future Minimum Lease Payments Receivable	6.2 The following table presents the future minimum lease payments to be received: 2023 2024 2025 2026 2027 Total RMB RMB RMB RMB RMB RMB Finance lease receivables 848,241,938 252,549,195 40,854,903 17,453,736 2,711,359 1,161,811,131 US$ US$ US$ US$ US$ US$ Finance lease receivables 122,983,521 36,616,191 5,923,404 2,530,554 393,110 168,446,780
Summary of Analysis of Aging Finance Lease Receivables Principal	6.3 The following table presents the aging of finance lease receivables principal as of December 31, 2021 and 2022: As of December 31, 2021 2022 RMB RMB US$ Aging of finance lease receivables principal: Current 2,366,189,534 1,018,749,298 147,704,764 1-30 90,969,086 38,193,025 5,537,468 31-60 6,290,856 9,008,588 1,306,122 61-90 3,656,847 4,917,323 712,945 91-120 3,868,995 3,545,621 514,067 121-150 2,201,790 2,951,294 427,897 151-180 2,466,450 4,294,740 622,679 2,475,643,558 1,081,659,889 156,825,942
Summary of Movement of Allowance for Finance Lease Receivables	6.4 Movement of allowance for finance lease receivables is as follows: As of December 31, 2021 2022 RMB RMB US$ Balance at the beginning of the year 23,726,420 32,216,759 4,670,991 Additions 25,839,117 51,609,763 7,482,712 Charge-offs (17,348,778 ) (61,655,256 ) (8,939,172 ) Balance at the end of the year 32,216,759 22,171,266 3,214,531

Prepayments And Other Current_2

Prepayments And Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Summary of Prepayments and Other Current Assets	Prepayments and other current assets consist of the following: Notes As of December 31, 2021 2022 RMB RMB US$ Prepayments for vehicles i 712,544,814 962,460,729 139,543,687 Other receivables from third parties ii 33,092,696 204,582,786 29,661,716 Deposits held by third parties 48,176,225 77,096,144 11,177,890 Vehicles iii 131,722,840 53,570,863 7,767,045 Accrued input value-added tax 22,922,301 23,456,305 3,400,845 Prepaid expenses 9,977,021 8,638,899 1,252,523 Interest receivables 5,655,031 4,960,332 719,181 Others 18,857,709 22,055,970 3,197,815 982,948,637 1,356,822,028 196,720,702 (i) Prepayments for vehicles represents the prepayments to the automobile suppliers when the Company acts as a principal. (ii) Other receivables from third parties mainly represents the prepayments on behalf of the car dealer buyers when the Company acts as an agent in the automobile trading business. (iii) Inventory of the vehicles is stated at the lower of cost or net realizable value. Inventory cost is determined by specific identification. Net realizable value is the estimated selling price less costs to complete, dispose and transport the vehicles. There were no write-downs or any substantial and unusual losses of vehicles recorded for the years ended December 31, 2020, 2021 and 2022.

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Schedule of Intangible assets	Intangible assets consist of the following: As of December 31, 2021 2022 RMB RMB US$ Finite-lived intangible asset: Software 5,796,893 9,440,222 1,368,704 Less: Accumulated amortization (2,956,852 ) (4,213,847 ) (610,950 ) Total finite-lived intangible asset 2,840,041 5,226,375 757,754 Indefinite-lived intangible asset: License* 43,091,503 43,091,503 6,247,680 Total infinite-lived intangible asset 43,091,503 43,091,503 6,247,680 45,931,544 48,317,878 7,005,434
Schedule of finite-lived intangible assets, future amortization expense	The estimated useful life of the intangible assets are 6-10 As of December 31, 2023 2024 2025 2026 2027 RMB RMB RMB RMB RMB Software 1,257,606 1,010,211 996,352 937,541 904,884 US$ US$ US$ US$ US$ Software 182,336 146,467 144,457 135,931 131,196

Short-Term and Long-Term Debts

Short-Term and Long-Term Debts (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of Short-Term Debts	Short-term debts consist of the following: Name Fixed annual rate (%) Term As of December 31, 2021 RMB Short-term borrowings 3.75%-6.50 % 1-12 months 579,776,131 Name Fixed annual rate (%) Term As of December 31, 2022 RMB US$ Short-term borrowings 1.45%-5.25 % 1-12 months 349,299,134 50,643,614
Summary of Long-Term Debts	Long-term debts consist of the following: Name Fixed annual rate (%) Term As of December 31, 2021 RMB Co-financing 5.50%-6.60 % 24-36 months 954,444,171 Long-term 4.45%-6.00 % 15-36 469,941,863 1,424,386,034 Name Fixed annual rate (%) Term As of December 31, 2022 RMB US$ Co-financing 5.50%-6.60 % 24-36 361,120,106 52,357,493 Long-term 4.45%-6.50 % 20-36 months 279,892,587 40,580,611 641,012,693 92,938,104
Summary of Contractual Obligations Which Excludes the Impact of Discount of Time Value	The following table sets forth the contractual obligations of long-term debts—non-current Payment due by period Less than 1 year 1 - 2 years 2 -3 Total As of December 31, 2021 (RMB) Long-term debts – non-current 29,956,101 490,167,979 24,730,673 544,854,753 As of December 31, 2022 (RMB) Long-term debts – non-current 4,086,053 76,963,214 681,629 81,730,896 As of December 31, 2022 (US$) Long-term debts – non-current 592,422 11,158,617 98,827 11,849,866

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: As of December 31, 2021 2022 Notes RMB RMB US$ Short-term contract liability (net of tax) 292,386,075 422,429,761 61,246,558 Accrued output value-added tax 33,471,335 35,757,905 5,184,409 Customer advances i 77,811,758 145,841,630 21,145,049 Notes Payable ii 123,803,438 123,436,000 17,896,538 Deposit due to third-parties 18,891,289 45,333,662 6,572,763 Payable to dealers 50,680,407 14,080,249 2,041,444 Payable to employees 34,285,667 9,627,567 1,395,866 Other tax payables 16,494,783 9,575,306 1,388,289 Accrued professional service fees 8,697,657 5,198,272 753,679 Payable to suppliers 4,003,912 2,119,516 307,301 Interest payable 2,667,405 1,040,927 150,920 Derivative financial liability 5,346,389 — — Others 50,495,262 76,395,904 11,076,368 719,035,377 890,836,699 129,159,184

Risk Assurance Liabilities (Tab

Risk Assurance Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Guarantees and Product Warranties [Abstract]
Summary of Movement of Risk Assurance Liabilities	The movement of risk assurance liabilities during the years ended December 31, 2021 and 2022 are as follows: As of December 31, 2021 2022 RMB RMB US$ Balance at the beginning of the year 460,829,299 699,022,914 101,348,795 Fair value of risk assurance liabilities upon the inception of new loans 443,831,604 45,521,150 6,599,946 Performed risk assurance liabilities (403,388,438 ) (642,104,046 ) (93,096,335 ) Net loss on risk assurance liabilities 197,750,449 299,863,403 43,476,107 Balance at the end of the year 699,022,914 402,303,421 58,328,513

Lease (Tables)

Lease (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of Supplemental cash flow information related to operating leases	Supplemental cash flow information related to operating leases was as follows: 2022 RMB US$ Cash payments for operating leases 15,480,126 2,244,407 Operating ROU assets obtained in exchange for new operating lease liabilities 5,068,377 734,846 Operating ROU assets released in exchange for operating lease liabilities 2,023,201 293,337
Summary of Future minimum lease payments under non-cancelable operating leases agreements	Maturities of lease liabilities as of December 31, 2022 were as follows: RMB US$ Year ending December 31, 2023 15,419,265 2,235,583 2024 15,275,454 2,214,733 2025 14,077,075 2,040,984 2026 13,859,582 2,009,451 2027 14,583,165 2,114,360 2028 and thereafter 32,700,933 4,741,189 Total lease payment 105,915,474 15,356,300 Less: imputed interest (19,469,193 ) (2,822,768 ) Present value of lease liabilities 86,446,281 12,533,532 The undiscounted future minimum payments under non-cancelable RMB Year ending December 31, 2022 15,710,485 2023 14,124,342 2024 13,873,588 2025 13,459,582 2026 13,459,582 2027 and thereafter 48,629,836 Total 119,257,415

Cost of Revenue (Tables)

Cost of Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Text Block [Abstract]
Summary of Cost of Revenue	Cost of revenue consists of the following: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cost of vehicle 619,227,148 2,210,715,054 1,580,778,797 229,191,382 Staff cost 73,975,397 105,771,335 105,613,337 15,312,494 Leasing interest expense* 132,322,922 119,692,726 61,128,565 8,862,809 Commission to car dealerships 117,985,878 375,702,902 26,756,550 3,879,335 Staff incentive 84,046,881 61,894,967 — — Others 70,562,523 84,232,888 55,812,524 8,092,055 1,098,120,749 2,958,009,872 1,830,089,773 265,338,075

Net Gain (Loss) On Equity Sec_2

Net Gain (Loss) On Equity Securities, Net - (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary Of Gain Loss On Investments	Net gain (loss) on equity securities consists of the following: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Unrealized gain on equity securities still held at the reporting date 3,315,475,734 45,804,034 — — Net realized gain (loss) on equity securities during the period 37,905,479 (58,795,556 ) (9,810,585 ) (1,422,402 ) 3,353,381,213 (12,991,522 ) (9,810,585 ) (1,422,402 )

Other Income, Net (Tables)

Other Income, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Other Income	Other income consists of the following: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Government subsidy 35,888,591 35,384,908 15,321,092 2,221,350 Others 13,250,746 6,526,681 36,745,626 5,327,615 49,139,337 41,911,589 52,066,718 7,548,965

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Profit Before Income Taxes	The Company’s net income (loss) before income taxes consists of: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cayman Islands 3,309,525,351 (37,599,025 ) 28,219,345 4,091,420 Hong Kong (14,414,430 ) (14,883,394 ) (16,096,157 ) (2,333,723 ) China 448,162,790 64,790,713 (886,634,531 ) (128,549,921 ) Net income (loss) before income taxes 3,743,273,711 12,308,294 (874,511,343 ) (126,792,224 )
Summary of Current and Deferred Component of Income Tax Expenses	The current and deferred component of income tax expenses which were substantially attributable to the Company’s PRC subsidiaries, VIEs and subsidiaries of the VIEs, are as follows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Current income tax expense 121,701,686 603,765,914 (134,629,133 ) (19,519,390 ) Deferred income tax expense (benefit) 248,151,964 (582,913,268 ) 371,325,673 53,837,162 Total income tax expense 369,853,650 20,852,646 236,696,540 34,317,772
Summary of Principal Components of Deferred Tax Assets and Liabilities	The principal components of the deferred tax assets and liabilities are as follows: For the years ended December 31, 2021 2022 RMB RMB US$ Non-current Risk assurance liabilities 276,221,432 361,992,619 52,483,996 Provision for credit losses 194,973,439 255,231,296 37,005,059 Contract assets 7,495,619 — — Short-term and long-term lease liabilities — 20,181,689 2,926,070 Customer advances 5,552,404 5,136,587 744,735 Fair value change on derivative instruments 1,336,597 — — Net operating loss carry-forward 16,959,870 67,815,707 9,832,353 Less: valuation allowance (16,959,870 ) (447,965,176 ) (64,948,845 ) Non-current 485,579,491 262,392,722 38,043,368 Non-current Acquisition of insurance brokerage license (10,724,126 ) (10,724,126 ) (1,554,852 ) Unrealized gain on long-term investment (11,009,130 ) (11,009,130 ) (1,596,174 ) Contract assets — (168,704,122 ) (24,459,798 ) Operating lease right-of-use — (20,181,689 ) (2,926,070 ) Withholding tax (40,746,914 ) — — Others — (7 ) (1 ) Non-current (62,480,170 ) (210,619,074 ) (30,536,895 )
Summary of Reconciliation of Income Before the Provision of Income Taxes and Actual Provision for Income Taxes	Reconciliation between the income tax expense computed by applying the PRC tax rate to income before the provision of income taxes and the actual provision for income taxes is as follows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Income (loss) before provision of income tax 3,743,273,711 12,308,294 (874,511,343 ) (126,792,224 ) PRC statutory income tax rate 25 % 25 % 25 % 25 % Income tax at statutory tax rate 935,818,428 3,077,074 (218,627,836 ) (31,698,057 ) Tax rate differential (852,831,321 ) 5,070,813 (6,593,155 ) (955,918 ) Over-accrued EIT for previous years — — (2,025,370 ) (293,651 ) Impact of tax rate change (35,511,678 ) — (878,656 ) (127,393 ) Non-deductible 19,219,052 19,443,641 41,193,294 5,972,465 Research and development super-deduction (10,970,775 ) (10,177,551 ) (7,943,499 ) (1,151,699 ) Non-taxable (982,266 ) — (382,978 ) (55,527 ) Change in valuation allowance (2,412,144 ) 9,894,006 433,465,580 62,846,603 Withholding tax 317,524,354 (6,455,337 ) (1,510,840 ) (219,051 ) Income tax expenses 369,853,650 20,852,646 236,696,540 34,317,772

Earnings (Loss) Per Share ("E_2

Earnings (Loss) Per Share ("EPS") (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share for the years ended December 31, 2020, 2021 and 2022: For the years ended December 31, Basic EPS: 2020 2021 2022 Class A Ordinary Class B Class A Class B Class A Ordinary Shares Class B Ordinary Shares RMB RMB RMB RMB RMB US$ RMB US$ Numerator: Net income (loss) attributable to Cango Inc’s shareholders 2,513,009,017 856,508,830 (6,374,737 ) (2,169,615 ) (815,323,647 ) (118,210,814 ) (295,884,236 ) (42,899,182 ) Denominator: Number of shares used for Basic EPS computation (millions of shares) 224.10 76.38 216.28 73.61 201.10 201.10 72.98 72.98 Basic EPS 11.21 11.21 (0.03 ) (0.03 ) (4.05 ) (0.59 ) (4.05 ) (0.59 ) For the years ended December 31, Diluted EPS: 2020 2021 2022 Class A Class B Class A Class B Class A Ordinary Shares Class B Ordinary Shares RMB RMB RMB RMB RMB US$ RMB US$ Numerator: Net income (loss) attributable to ordinary shareholders 2,522,647,912 846,869,935 (6,374,737 ) (2,169,615 ) (815,323,647 ) (118,210,814 ) (295,884,236 ) (42,899,182 ) Reallocation of net income as a result of conversion of Class B to Class A shares 846,869,935 — (2,169,615 ) — (295,884,236 ) (42,899,182 ) — — Net income (loss) attributable to ordinary shareholders for diluted EPS 3,369,517,847 846,869,935 (8,544,352 ) (2,169,615 ) (1,111,207,883 ) (161,109,996 ) (295,884,236 ) (42,899,182 ) Denominator: (millions of shares) Number of shares used for basic EPS computation 224.10 76.38 216.28 73.61 201.10 201.10 72.98 72.98 Weighted average effect of dilutive securities: Conversion of Class B to Class A ordinary shares 76.38 — 73.61 — 72.98 72.98 — — Adjustments for dilutive share options 3.42 — — — — — — — Number of shares used for diluted EPS computation 303.90 76.38 289.89 73.61 274.08 274.08 72.98 72.98 Diluted EPS 11.09 11.09 (0.03 ) (0.03 ) (4.05 ) (0.59 ) (4.05 ) (0.59 ) Earnings (losses) per share – ADS: Denominator used for earnings (losses) per ADS – basic 112.05 108.14 100.55 100.55 Denominator used for earnings (losses) per ADS – diluted 151.95 144.95 137.04 137.04 Earnings (losses) per ADS – basic 22.43 (0.06 ) (8.11 ) (1.18 ) Earnings (losses) per ADS – diluted 22.18 (0.06 ) (8.11 ) (1.18 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis	The following table summarizes the Company’s financial assets and financial liabilities measured and recorded at fair value on recurring basis as of December 31, 2021: As of December 31, 2021 Active market Observable input Non-observable input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Asset: Short-term investment 464,715,237 2,134,220,467 — 2,598,935,704 Liability: Derivative financial liability — 5,346,389 — 5,346,389 The following table summarizes the Company’s financial assets and financial liabilities measured and recorded at fair value on recurring basis as of December 31, 2022: As of December 31, 2022 Active market Observable input Non-observable input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Asset: Short-term investment — 1,941,432,848 — 1,941,432,848 As of December 31, 2022 Active market Observable input Non-observable input (Level 1) (Level 2) (Level 3) Total US$ US$ US$ US$ Assets: Short-term investment — 281,481,304 — 281,481,304

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Assumptions Used to Value the Share Options Granted to Employees	The Company uses the binomial tree option pricing model to estimate the fair value of share options with the assistance of an independent third-party valuation firm. The assumptions used to value the share options granted to employees were as follows: As of May 25, 2018, As of February 15, 2019, (date of inception) As of October 15, 2020, (date of inception) As of May 1, 2021, (date of As of June 16, 2022, (date of As of August (date of As of August (date of Batch 1 Batch 2 Batch 3 Batch 4 Batch 5-1 Batch5-2 Risk-free interest rate (%) 2.93 2.66 0.74 0.74 3.20 2.59 2.59 Volatility (%) 38.70 38.70 37.60 38.00 47.80 48.10 48.10 Expected exercise multiple 2.80 2.30 2.30 2.30 2.80 2.80 2.20 Dividend yield Nil Nil Nil Nil Nil Nil Nil Expected life (in years) 10.00 10.00 10.00 10.00 10.00 10.00 10.00 Exercise price (US$) 1.7951 1.7951 1.7951 1.2951 0.7951 0.7951 0.7951 Fair value of ordinary shares (RMB) 37.82 26.80 19.03 21.72 10.52 8.66 8.66
Summary of Option Activity under ESOP	A summary of option activity under the ESOP is as follows: Number of Weighted average Weighted average Aggregate RMB RMB RMB Balance, December 31, 2019 10,826,997 12 32 Granted 8,353,658 12 19 Exercised (600,014 ) 12 38 8,104,920 Forfeited (69,914 ) 12 24 Balance, December 31, 2020 18,510,727 12 26 Granted 8,454,422 8 22 Exercised (737,228 ) 11 30 13,715,140 Forfeited (281,151 ) 9 22 Balance, December 31, 2021 25,946,770 8 25 Granted 13,613,000 5 10 Exercised (1,817,288 ) 4 25 5,086,872 Forfeited (1,687,224 ) 6 20 Balance, December 31, 2022 36,055,258 2 20 Vested or expected to vest at December 31, 2022 35,974,369 2 89,299,258 Exercisable at December 31, 2022 21,567,181 2 53,536,263
Summary of Allocated Share-based Compensation Expense	For the years ended December 31, 2020, 2021 and 2022, the Company allocated share-based compensation expense as follows: For the years ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cost of revenue 3,075,317 4,927,484 4,160,056 603,152 Sales and marketing 16,003,486 15,311,101 14,691,410 2,130,054 General and administrative 55,590,630 63,035,444 135,888,877 19,702,035 Research and development 4,085,395 4,360,806 3,782,177 548,364 78,754,828 87,634,835 158,522,520 22,983,605

Organization - Summary of Compa

Organization - Summary of Company's Subsidiaries and VIE (Detail)	12 Months Ended
	Dec. 31, 2022
Organization [Line Items]
Place of incorporation	E9
Cango Group Limited [Member]
Organization [Line Items]
Date of incorporation	Oct. 31, 2017
Place of incorporation	K3
Percentage of legal ownership by the Company	100%
Principal activities	Investment holding
Express Group Development Limited [Member]
Organization [Line Items]
Date of incorporation	Jun. 30, 2016
Place of incorporation	K3
Percentage of legal ownership by the Company	100%
Principal activities	Investment holding
Can Gu Long (Shanghai) Information Technology Consultation Service Co., Ltd. [Member]
Organization [Line Items]
Date of incorporation	Jan. 25, 2018
Place of incorporation	F4
Percentage of legal ownership by the Company	100%
Principal activities	Investment holding
Shanghai Cango Investment and Management Consultation Service Co., Ltd. [Member]
Organization [Line Items]
Date of incorporation	Aug. 30, 2010
Place of incorporation	F4
Percentage of legal ownership by the Company	0%
Principal activities	Provision of automotive financing facilitation, automobile trading transaction and aftermarket service facilitation.
Shanghai Yunguhaoche Electronic Technology Co Ltd [Member]
Organization [Line Items]
Date of incorporation	Mar. 15, 2022
Place of incorporation	F4
Percentage of legal ownership by the Company	0%
Principal activities	Provision of automobile trading transaction.

Organization - Summary of Asset

Organization - Summary of Assets and Liabilities of VIE's in Consolidated Balance Sheets (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 378,917,318	$ 54,937,847	¥ 1,434,806,922	¥ 1,426,899,576
Other current assets	22,055,970	3,197,815	18,857,709
Total current assets	5,470,343,990	793,125,325	7,607,930,351
Finance lease receivables—non-current	260,049,967	37,703,701	1,029,262,174
Other non-current assets	6,633,517	961,770	11,568,164
Total non-current assets	1,545,908,343	224,135,642	3,339,173,681
Total assets	7,016,252,333	1,017,260,967	10,947,104,032
Short-term debts	349,299,134	50,643,614	579,776,131
Other current liabilities	76,395,904	11,076,368	50,495,262
Total current liabilities	2,530,902,347	366,946,350	3,417,702,889
Long-term debts	75,869,353	11,000,022	486,371,672
Other non-current liabilities	314,287	45,567	991,610
Total non-current liabilities	163,440,981	23,696,714	538,834,322
Total liabilities	2,694,343,328	390,643,064	3,956,537,211
Consolidated VIE [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents	268,621,701	38,946,486	531,317,393
Other current assets	3,717,898,668	539,044,636	3,899,508,069
Total current assets	3,986,520,369	577,991,122	4,430,825,462
Finance lease receivables—non-current	260,049,967	37,703,701	1,029,262,174
Other non-current assets	1,246,816,149	180,771,349	2,272,293,047
Total non-current assets	1,506,866,116	218,475,050	3,301,555,221
Total assets	5,493,386,485	796,466,172	7,732,380,683
Short-term debts	349,299,134	50,643,614	579,776,131
Other current liabilities	1,861,808,449	269,936,851	2,561,535,815
Total current liabilities	2,211,107,583	320,580,465	3,141,311,946
Long-term debts	75,869,353	11,000,022	486,371,672
Other non-current liabilities	86,138,152	12,488,858	11,715,736
Total non-current liabilities	162,007,505	23,488,880	498,087,408
Total liabilities	¥ 2,373,115,088	$ 344,069,345	¥ 3,639,399,354

Organization - Additional Infor

Organization - Additional Information (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Organization [Line Items]
VIE's net asset balance	¥ 3,120,271,397	$ 452,396,827	¥ 4,092,981,329
Restricted cash	136,671,970	19,815,573	51,793,630
Short term investment	1,941,432,848	281,481,304	2,598,935,704
Finance lease receivables	1,059,488,623	153,611,411	2,443,426,799
Variable Interest Entity, Primary Beneficiary [Member]
Organization [Line Items]
Short term investment	0	0	114,706,800
Finance lease receivables	¥ 360,725,648	$ 52,300,303	¥ 945,403,768

Organization - Summary of Opera

Organization - Summary of Operations of VIE Included in Consolidated Statements of Comprehensive Income (loss) (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Variable Interest Entity [Line Items]
Revenues	¥ 1,980,453,461	$ 287,138,761	¥ 3,921,716,406	¥ 2,052,431,752
Net income (loss)	(1,111,207,883)	(161,109,996)	(8,544,352)	3,373,420,061
Consolidated VIE [Member]
Variable Interest Entity [Line Items]
Revenues	1,980,415,725	287,133,290	3,921,688,104	2,052,431,752
Net income (loss)	¥ (1,131,232,450)	$ (164,013,288)	¥ 37,717,411	¥ 399,366,632

Organization - Summary of Cash

Organization - Summary of Cash Flows of VIE Included in Consolidated Statements of Cash Flows (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Variable Interest Entity [Line Items]
Net cash used in operating activities	¥ (567,385,052)	$ (82,263,099)	¥ (404,390,831)	¥ (621,612,202)
Net cash (used in) provided by investing activities	1,959,528,803	284,104,970	2,661,222,986	(493,563,047)
Net cash used in financing activities	(2,990,208,748)	(433,539,516)	(1,946,434,308)	(380,822,429)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	270,267,366	39,185,085	(15,008,806)	(36,093,321)
Consolidated VIE [Member]
Variable Interest Entity [Line Items]
Net cash used in operating activities	(599,053,407)	(86,854,580)	(374,886,851)	(626,884,394)
Net cash (used in) provided by investing activities	1,084,633,210	157,257,033	744,832,757	(81,038,760)
Net cash used in financing activities	(1,020,359,284)	(147,938,190)	(554,832,190)	¥ (71,082,260)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	¥ 175,763	$ 25,483	¥ (55,087)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)			12 Months Ended
	Jan. 01, 2023 CNY (¥)	Jan. 01, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Restricted cash			¥ 152,688,510		¥ 61,293,114	¥ 9,693,008	$ 22,137,753
Impairment loss			0		0	0
Employee defined contribution plan expensed			60,124,007	$ 8,717,162	87,227,402	35,451,168
VAT incurred			262,656,515		478,981,515	207,266,214	38,081,615
Exchange rate			6.8972	1
Contract assets			673,846,832		1,325,397,497		97,698,607
Unsatisfied performance obligations			1,001,890		5,461,882		$ 145,260
Financing receivables written off			256,191,329	37,144,251	140,834,287
Post Origination Administrative Services Revenue			23,411,975	3,394,417	41,561,564	73,775,464
Contract with Customer, Liability, Revenue Recognized			¥ 267,339,943	38,760,649	89,289,191
Lessee, Operating Lease, Term of Contract			12 months				12 months
Impairment losses on goodwil			¥ 0		0
Increase to risk assurance liabilities			(596,582,896)	(86,496,389)	40,443,166	198,608,646
Purchased price of the financing receivables			1,190,000,000	173,000,000	778,000,000
Fair value of financing receivables			548,000,000	80,000,000	375,000,000
Finance lease receivables—current			799,438,656		1,414,164,625		$ 115,907,710
Depreciation expense			5,483,032	794,965	7,926,513	9,150,590
Accumulated Depreciation			27,518,577		26,923,641		3,989,819
Provision of financing receivables with credit deterioration			266,372,590	38,620,395	175,061,657
New Cars [Member]
Summary Of Significant Accounting Policies [Line Items]
Finance lease receivables—current			895,319,860		2,161,848,785		129,809,178
Financing receivables			55,693,049		50,908,474		8,074,734
Used Cars [Member]
Summary Of Significant Accounting Policies [Line Items]
Finance lease receivables—current			164,168,763		281,578,014		23,802,233
Financing receivables			18,124,976		11,387,787		2,627,874
Deposit Protection Scheme [Member] | CHINA
Summary Of Significant Accounting Policies [Line Items]
Cash deposited in financial institutions insured by the Deposit Protection Scheme			500
Deposit Protection Scheme [Member] | HONG KONG
Summary Of Significant Accounting Policies [Line Items]
Cash deposited in financial institutions insured by the Deposit Protection Scheme			500
Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase to risk assurance liabilities	¥ 302,000,000	$ 44,000,000
Decrease in deferred taxes	307,000,000	44,000,000
Increase in finance lease receivables	15,000,000	2,000,000
Increase in the allowance for financing receivables	14,000,000	2,000,000
Increase in the allowance of other current and non current assets	¥ 3,000,000	$ 400,000
Cross Currency Interest Rate Contract [Member]
Summary Of Significant Accounting Policies [Line Items]
Outstanding notional amount of interest rate swap contracts			0		103,600,000		0
Unrealized gains (losses) on interest rate swap contracts			0	0	5,300,000	0
Realized gains (losses) on interest rate swap contracts			¥ 1,200,000	$ 200,000	0	¥ 500,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Financial Institutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers						14.20%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Financial Institutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers						22.30%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Automobile Trading Customers [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers			13%	13%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Automobile Trading Customer One [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers			14.20%	14.20%
Customer Concentration Risk [Member] | Credit Risk [Member] | Zero Customer [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers			10%	10%
General VAT [Member]
Summary Of Significant Accounting Policies [Line Items]
Applicable tax rate			6%	6%
Small Scale VAT [Member]
Summary Of Significant Accounting Policies [Line Items]
Applicable tax rate			3%	3%
Collateral for Short-term Borrowings [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash			¥ 136,671,970		51,793,630		19,815,573
Collaboration And Guarantee Deposits [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash			¥ 766,893,846		¥ 1,123,680,213		$ 111,189,156
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets			6 years	6 years
Minimum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Financial Institutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers						10%
Minimum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Financial Institutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers					10%
Minimum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Automobile Trading Customers [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers			10%	10%
Minimum [Member] | General VAT [Member]
Summary Of Significant Accounting Policies [Line Items]
Applicable tax rate			6%	6%
Minimum [Member] | Computer Software [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets			6 years	6 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets			10 years	10 years
Maximum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Financial Institutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers						36.50%
Maximum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Financial Institutions [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers					16.80%
Maximum [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Automobile Trading Customers [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of revenue generated from customers			27.20%	27.20%
Maximum [Member] | General VAT [Member]
Summary Of Significant Accounting Policies [Line Items]
Applicable tax rate			13%	13%
Maximum [Member] | Computer Software [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets			10 years	10 years
Weighted Average [Member] | Computer Software, Intangible Asset [Member]
Summary Of Significant Accounting Policies [Line Items]
Weighted average amortization period			8 years 4 months 20 days	8 years 4 months 20 days	9 years 1 month 9 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of Class of Asset (Detail)	12 Months Ended
	Dec. 31, 2022
Office and Electronic Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Residual Value	5%
Office and Electronic Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Office and Electronic Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Motor Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	4 years
Estimated Residual Value	5%
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	Over the shorter of the expected life of leasehold improvements or the lease term
Estimated Residual Value	0%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Cumulative Effect of Changes in Balance Sheet for Adoption of ASC 842 (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jan. 01, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Assets:
Operating lease right-of-use assets	¥ 80,726,757	$ 11,704,280		¥ 0
Liabilities:
Accrued expenses and other current liabilities	890,836,699	129,159,184		719,035,377
Short-term lease liabilities	9,913,073	1,437,260		0
Long-term lease liabilities	¥ 76,533,208	$ 11,096,272		¥ 0
Previously Reported [Member]
Liabilities:
Accrued expenses and other current liabilities			¥ 719,035,377
Restatement Adjustment [Member]
Assets:
Operating lease right-of-use assets			88,431,758
Liabilities:
Accrued expenses and other current liabilities			(5,181,785)
Short-term lease liabilities			10,403,216
Long-term lease liabilities			83,210,327
Restatement Adjusted [Member]
Assets:
Operating lease right-of-use assets			88,431,758
Liabilities:
Accrued expenses and other current liabilities			713,853,592
Short-term lease liabilities			10,403,216
Long-term lease liabilities			¥ 83,210,327

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Summary of Impact of Adopting ASC 842 on Balance Sheet (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Assets:
Operating lease right-of-use assets	¥ 80,726,757	$ 11,704,280	¥ 0
Liabilities:
Accrued expenses and other current liabilities	890,836,699	129,159,184	719,035,377
Short-term lease liabilities (including short-term lease liabilities of the consolidated VIE without recourse to the Company of RMB nil and RMB9,913,073 (US$1,437,260) as of December 31, 2021 and December 31, 2022, respectively)	9,913,073	1,437,260	0
Long-term lease liabilities (including long-term lease liabilities of the consolidated VIE without recourse to the Company of RMB nil and RMB75,099,739 (US$10,888,439) as of December 31, 2021 and December 31, 2022, respectively)	76,533,208	$ 11,096,272	¥ 0
As reported [Member]
Assets:
Operating lease right-of-use assets	80,726,757
Liabilities:
Accrued expenses and other current liabilities	890,836,699
Short-term lease liabilities (including short-term lease liabilities of the consolidated VIE without recourse to the Company of RMB nil and RMB9,913,073 (US$1,437,260) as of December 31, 2021 and December 31, 2022, respectively)	9,913,073
Long-term lease liabilities (including long-term lease liabilities of the consolidated VIE without recourse to the Company of RMB nil and RMB75,099,739 (US$10,888,439) as of December 31, 2021 and December 31, 2022, respectively)	76,533,208
Balances without the adoption of Topic 842 [Member]
Liabilities:
Accrued expenses and other current liabilities	896,634,483
Effect of change Higher/ (lower) [Member]
Assets:
Operating lease right-of-use assets	80,726,757
Liabilities:
Accrued expenses and other current liabilities	(5,797,784)
Short-term lease liabilities (including short-term lease liabilities of the consolidated VIE without recourse to the Company of RMB nil and RMB9,913,073 (US$1,437,260) as of December 31, 2021 and December 31, 2022, respectively)	9,913,073
Long-term lease liabilities (including long-term lease liabilities of the consolidated VIE without recourse to the Company of RMB nil and RMB75,099,739 (US$10,888,439) as of December 31, 2021 and December 31, 2022, respectively)	¥ 76,533,208

Short-Term Investments (Detail)

Short-Term Investments (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Schedule of short term investment [Line Items]
gain or loss on the held-to-maturity time deposit	¥ 0		¥ 0		$ 0
interest income related to debt securities	¥ 43,732,652	$ 6,340,639	¥ 26,373,471	¥ 34,901,335

Short-Term Investments -Summary

Short-Term Investments -Summary of Short Term Available For sale Products (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Debt securities:
Held-to-maturity time deposit	¥ 1,373,910,523	$ 199,198,301	¥ 1,803,362,875
Equity securities:
Marketable wealth management products	567,522,325	82,283,003	330,857,592
Marketable investment in Li Auto	0	0	464,715,237
Total short-term investments	¥ 1,941,432,848	$ 281,481,304	¥ 2,598,935,704

Accounts Receivable, Net - Summ

Accounts Receivable, Net - Summary of Accounts Receivables And Related Allowance For Doubtful Accounts (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Receivables [Abstract]
Accounts receivable	¥ 266,836,951	$ 38,687,721	¥ 223,544,396
Less: Allowance for doubtful accounts	0	0	0
Accounts receivable, net	¥ 266,836,951	$ 38,687,721	¥ 223,544,396

Accounts Receivable, Net - Addi

Accounts Receivable, Net - Additional Information (Detail) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivables, written off	¥ 0	¥ 0

Goodwill - Summary of Goodwill

Goodwill - Summary of Goodwill (Detail)	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Balance at December 31, 2020	¥ 145,063,857		¥ 148,657,971	$ 21,553,380	¥ 148,657,971	$ 23,327,680	$ 22,232,009
Goodwill acquired	3,594,114	$ 563,995
Balance at December 31, 2021	145,063,857		148,657,971	21,553,380	148,657,971	23,327,680	22,232,009
Balance at December 31, 2022	¥ 145,063,857		¥ 148,657,971	$ 21,553,380	¥ 148,657,971	$ 23,327,680	$ 22,232,009

Finance Lease Receivables, Ne_2

Finance Lease Receivables, Net - Summary of Finance Lease Receivables (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Finance lease receivables	¥ 1,161,811,131	$ 168,446,780	¥ 2,716,511,586
Add: unamortized initial direct costs	380,815	55,213	388,585
Less: unearned income	(80,532,057)	(11,676,051)	(241,256,613)
Less: allowance for finance lease receivables—collective	(22,171,266)	(3,214,531)	(32,216,759)
Total finance lease receivables, net	1,059,488,623	153,611,411	2,443,426,799
Finance lease receivables—current	799,438,656	115,907,710	1,414,164,625
Finance lease receivables—non-current	¥ 260,049,967	$ 37,703,701	¥ 1,029,262,174

Finance Lease Receivables, Ne_3

Finance Lease Receivables, Net - Summary of Future Minimum Lease Payments Receivable (Detail) - Dec. 31, 2022	CNY (¥)	USD ($)
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
2023	¥ 848,241,938	$ 122,983,521
2024	252,549,195	36,616,191
2025	40,854,903	5,923,404
2026	17,453,736	2,530,554
2027	2,711,359	393,110
Total	¥ 1,161,811,131	$ 168,446,780

Finance Lease Receivables, Ne_4

Finance Lease Receivables, Net - Summary of Analysis of Aging Finance Lease Receivables Principal (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance lease receivables	¥ 1,018,749,298	$ 147,704,764	¥ 2,366,189,534
Aging of finance lease receivables principal	1,081,659,889	156,825,942	2,475,643,558
1 to 30 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Aging of finance lease receivables principal, past due	38,193,025	5,537,468	90,969,086
31 to 60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Aging of finance lease receivables principal, past due	9,008,588	1,306,122	6,290,856
61 to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Aging of finance lease receivables principal, past due	4,917,323	712,945	3,656,847
91 to 120 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Aging of finance lease receivables principal, past due	3,545,621	514,067	3,868,995
121 to 150 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Aging of finance lease receivables principal, past due	2,951,294	427,897	2,201,790
151 to 180 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Aging of finance lease receivables principal, past due	¥ 4,294,740	$ 622,679	¥ 2,466,450

Finance Lease Receivables, Ne_5

Finance Lease Receivables, Net - Summary of Movement of Allowance for Finance Lease Receivables (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Balance at the beginning of the year	¥ 32,216,759	$ 4,670,991	¥ 23,726,420
Additions	51,609,763	7,482,712	25,839,117
Charge-offs	(61,655,256)	(8,939,172)	(17,348,778)
Balance at the end of the year	¥ 22,171,266	$ 3,214,531	¥ 32,216,759

Prepayments And Other Current_3

Prepayments And Other Current Assets - Summary of Prepayments and Other Current Assets (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Prepaid Expense and Other Assets [Abstract]
Prepayments for vehicles	¥ 962,460,729	$ 139,543,687	¥ 712,544,814
Other receivables from third parties	204,582,786	29,661,716	33,092,696
Deposits held by third-parties	77,096,144	11,177,890	48,176,225
Vehicles	53,570,863	7,767,045	131,722,840
Accrued input value-added tax	23,456,305	3,400,845	22,922,301
Prepaid expenses	8,638,899	1,252,523	9,977,021
Interest receivables	4,960,332	719,181	5,655,031
Others	22,055,970	3,197,815	18,857,709
Total	¥ 1,356,822,028	$ 196,720,702	¥ 982,948,637

Prepayments And Other Current_4

Prepayments And Other Current Assets - Summary of Prepayments and Other Current Assets (Parenthetical) (Detail) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Vehicles [Member]
Prepaid Expense And Other Assets [Line Items]
Write down of vehicle	¥ 0	¥ 0	¥ 0

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible assets (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Finite-lived intangible asset:
Software	¥ 9,440,222	$ 1,368,704	¥ 5,796,893
Less: Accumulated amortization	(4,213,847)	(610,950)	(2,956,852)
Total finite-lived intangible asset	5,226,375	757,754	2,840,041
Indefinite-lived intangible asset:
License	43,091,503	6,247,680	43,091,503
Total infinite-lived intangible asset	43,091,503	6,247,680	43,091,503
Total	¥ 48,317,878	$ 7,005,434	¥ 45,931,544

Intangible Assets - Schedule _2

Intangible Assets - Schedule of finite-lived intangible assets, future amortization expense (Detail) - Dec. 31, 2022	CNY (¥)	USD ($)
Finite-Lived Intangible Assets, Gross [Abstract]
2023	¥ 1,257,606	$ 182,336
2024	1,010,211	146,467
2025	996,352	144,457
2026	937,541	135,931
2027	¥ 904,884	$ 131,196

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Amortization expenses of finite-lived intangible asset	¥ 1,256,995	$ 182,247	¥ 588,456	¥ 393,547
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets	6 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets	10 years

Short-Term and Long-Term Debt_2

Short-Term and Long-Term Debts - Summary of Short-Term Debts (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)
Short-term Debt [Line Items]
Short-term borrowings	¥ 349,299,134	¥ 579,776,131	$ 50,643,614
Minimum [Member]
Short-term Debt [Line Items]
Short-term borrowings, Fixed annual rate	1.45%	3.75%	1.45%
Short-term borrowings, Term	1	1
Maximum [Member]
Short-term Debt [Line Items]
Short-term borrowings, Fixed annual rate	5.25%	6.50%	5.25%
Short-term borrowings, Term	12	12

Short-Term and Long-Term Debt_3

Short-Term and Long-Term Debts - Summary of Long-Term Debts (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Debt Instrument [Line Items]
Long-term debts	¥ 641,012,693	$ 92,938,104	¥ 1,424,386,034
Long Term Borrowings [Member]
Debt Instrument [Line Items]
Long-term debts	¥ 279,892,587	$ 40,580,611	¥ 469,941,863
Long Term Borrowings [Member] | Minimum [Member]
Debt Instrument [Line Items]
Long-term debts, Fixed annual rate	4.45%	4.45%	4.45%
Long-term debts, Term	20 months	20 months	15 months
Long Term Borrowings [Member] | Maximum [Member]
Debt Instrument [Line Items]
Long-term debts, Fixed annual rate	6.50%	6.50%	6%
Long-term debts, Term	36 months	36 months	36 months
Co-financing Debt Payables [Member]
Debt Instrument [Line Items]
Long-term debts	¥ 361,120,106	$ 52,357,493	¥ 954,444,171
Co-financing Debt Payables [Member] | Minimum [Member]
Debt Instrument [Line Items]
Long-term debts, Fixed annual rate	5.50%	5.50%	5.50%
Long-term debts, Term	24 months	24 months	24 months
Co-financing Debt Payables [Member] | Maximum [Member]
Debt Instrument [Line Items]
Long-term debts, Fixed annual rate	6.60%	6.60%	6.60%
Long-term debts, Term	36 months	36 months	36 months

Short-Term and Long-Term Debt_4

Short-Term and Long-Term Debts - Additional Information (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Weighted average interest rate for outstanding debts	4.47%	4.47%	5.72%
Short-term borrowings	¥ 349,299,134	$ 50,643,614	¥ 579,776,131
Long term debt	641,012,693	92,938,104	1,424,386,034
Unused lines of Credit [Member]
Short-term borrowings	620,000,000	90,000,000	615,000,000
Long term debt	1,244,000,000	180,000,000	1,012,000,000
Lease Financing [Member]
Financing lease receivables, collateralized	¥ 360,725,648	$ 52,300,303	¥ 945,403,768

Short-Term and Long-Term Debt_5

Short-Term and Long-Term Debts - Summary of Contractual Obligations Which Excludes the Impact of Discount of Time Value (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Debt Instruments [Abstract]
Payment due by period, less than 1 year	¥ 4,086,053	$ 592,422	¥ 29,956,101
Payment due by period, 1 - 2 years	76,963,214	11,158,617	490,167,979
Payment due by period, 2 - 3 years	681,629	98,827	24,730,673
Total	¥ 81,730,896	$ 11,849,866	¥ 544,854,753

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Accounts Payable And Accrued Liabilities Current [Line Items]
Accrued Value Added Tax	¥ 35,757,905	$ 5,184,409	¥ 33,471,335
Deposit due to third-parties	45,333,662	6,572,763	18,891,289
Customer advances	145,841,630	21,145,049	77,811,758
Notes Payable	123,436,000	17,896,538	123,803,438
Payable to dealers	14,080,249	2,041,444	50,680,407
Payable to employees	9,627,567	1,395,866	34,285,667
Other tax payables	9,575,306	1,388,289	16,494,783
Accrued professional service fees	5,198,272	753,679	8,697,657
Payable to suppliers	2,119,516	307,301	4,003,912
Interest payable	1,040,927	150,920	2,667,405
Derivative financial liability	0	0	5,346,389
Others	76,395,904	11,076,368	50,495,262
Accrued expenses and other current liabilities	890,836,699	129,159,184	719,035,377
Restricted cash deposited as collateral for such notes payable	136,671,970	19,815,573	51,793,630
Short-term contract liability (net of tax)	422,429,761	61,246,558	292,386,075
Unused lines of Credit [Member]
Accounts Payable And Accrued Liabilities Current [Line Items]
Notes Payable	¥ 597,000,000	$ 87,000,000	¥ 921,000,000

Risk Assurance Liabilities - Su

Risk Assurance Liabilities - Summary of Movement of Risk Assurance Liabilities (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Guarantees [Abstract]
Balance at the beginning of the year	¥ 699,022,914	$ 101,348,795	¥ 460,829,299
Fair value of risk assurance liabilities upon the inception of new loans	45,521,150	6,599,946	443,831,604
Performed risk assurance liabilities	(642,104,046)	(93,096,335)	(403,388,438)
Net loss on risk assurance liabilities	299,863,403	43,476,107	197,750,449	¥ 2,268,180
Balance at the end of the year	¥ 402,303,421	$ 58,328,513	¥ 699,022,914	¥ 460,829,299

Risk Assurance Liabilities - Ad

Risk Assurance Liabilities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)
Guarantor Obligations [Line Items]
Maximum potential undiscounted future payment under risk assurance obligation	¥ 16,506,729,778	¥ 31,335,737,264	$ 2,393,250,852
Minimum [Member]
Guarantor Obligations [Line Items]
Term of risk assurance obligation	12 months	12 months
Maximum [Member]
Guarantor Obligations [Line Items]
Term of risk assurance obligation	60 months	60 months

Lease - Summary of Supplemental

Lease - Summary of Supplemental cash flow information related to operating leases (Detail) - 12 months ended Dec. 31, 2022	CNY (¥)	USD ($)
Leases [Abstract]
Cash payments for operating leases	¥ 15,480,126	$ 2,244,407
Operating ROU assets obtained in exchange for new operating lease liabilities	5,068,377	734,846
Operating ROU assets released in exchange for operating lease liabilities	¥ 2,023,201	$ 293,337

Lease - Summary of Future minim

Lease - Summary of Future minimum lease payments under non-cancelable operating leases agreements (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Leases [Abstract]
2022	¥ 15,419,265	$ 2,235,583	¥ 15,710,485
2023	15,275,454	2,214,733	14,124,342
2024	14,077,075	2,040,984	13,873,588
2025	13,859,582	2,009,451	13,459,582
2026	14,583,165	2,114,360	13,459,582
2027 and thereafter	32,700,933	4,741,189	48,629,836
Total lease payment	105,915,474	15,356,300	¥ 119,257,415
Less: imputed interest	(19,469,193)	(2,822,768)
Present value of lease liabilities	¥ 86,446,281	$ 12,533,532

Lease - Additional Information

Lease - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Leases [Abstract]
Operating Lease, Cost	¥ 15,945,782	$ 2,311,921
Short-Term Lease, Cost	3,686,856	$ 534,544
Operating Lease Cost Capitalized	¥ 0		¥ 0
Operating Lease, Weighted Average Remaining Lease Term	6 years 3 months 18 days	6 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	6.15%	6.15%
Rent Expense			¥ 24,733,825

Cost of Revenue - Summary of Co

Cost of Revenue - Summary of Cost of Revenue (Detail)		12 Months Ended
		Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cost of Revenue [Abstract]
Cost of vehicle		¥ 1,580,778,797	$ 229,191,382	¥ 2,210,715,054	¥ 619,227,148
Staff cost		105,613,337	15,312,494	105,771,335	73,975,397
Leasing interest expense	[1]	61,128,565	8,862,809	119,692,726	132,322,922
Commission to car dealerships		26,756,550	3,879,335	375,702,902	117,985,878
Staff incentive		0	0	61,894,967	84,046,881
Others		55,812,524	8,092,055	84,232,888	70,562,523
Cost of revenue		¥ 1,830,089,773	$ 265,338,075	¥ 2,958,009,872	¥ 1,098,120,749
[1]Leasing interest expense refers to interest expense on borrowings by the Company that are directly used to fund finance lease receivables.

Net Gain (Loss) On Equity Sec_3

Net Gain (Loss) On Equity Securities, Net - Summary Of Gain Loss On Investment (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Investments, Debt and Equity Securities [Abstract]
Unrealized gain on equity securities still held at the reporting date	¥ 0	$ 0	¥ 45,804,034	¥ 3,315,475,734
Net realized gain (loss) on equity securities during the period	(9,810,585)	(1,422,402)	(58,795,556)	37,905,479
Total	¥ (9,810,585)	$ (1,422,402)	¥ (12,991,522)	¥ 3,353,381,213

Other Income, Net - Schedule of

Other Income, Net - Schedule of Other Income (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Other Non Operating Income [Line Items]
Other income, net	¥ 52,066,718	$ 7,548,965	¥ 41,911,589	¥ 49,139,337
Government Subsidy [Member]
Other Non Operating Income [Line Items]
Other income, net	15,321,092	2,221,350	35,384,908	35,888,591
Other [Member]
Other Non Operating Income [Line Items]
Other income, net	¥ 36,745,626	$ 5,327,615	¥ 6,526,681	¥ 13,250,746

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Income Taxes [Line Items]
Deferred tax assets related to net operating loss carry forwards	¥ 271,262,828	$ 39,329,413
Deferred tax assets related to net operating loss carry forwards, beginning expire year if not utilized	2023
Deferred tax assets related to net operating loss carry forwards, ending expire year if not utilized	2032
Cumulative amount of the temporary differences in respect of investments in foreign subsidiaries	¥ 1,848,000,000	$ 268,000,000	¥ 1,951,000,000
Enterprise Income Tax Law [Member]
Income Taxes [Line Items]
Income tax rate	10%
Percentage of withholding tax applicable	10%
Hong Kong [Member]
Income Taxes [Line Items]
Withholding tax amount	¥ 0
Income tax rate	16.50%
Cayman Islands [Member]
Income Taxes [Line Items]
Withholding tax amount	¥ 0

Income Taxes - Schedule Of Prof

Income Taxes - Schedule Of Profit Before Income Taxes (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Schedule Of Income Before Income Tax [Line Items]
Profit before income taxes	¥ (874,511,343)	$ (126,792,224)	¥ 12,308,294	¥ 3,743,273,711
Cayman Islands [Member]
Schedule Of Income Before Income Tax [Line Items]
Profit before income taxes	28,219,345	4,091,420	(37,599,025)	3,309,525,351
Hong Kong [Member]
Schedule Of Income Before Income Tax [Line Items]
Profit before income taxes	(16,096,157)	(2,333,723)	(14,883,394)	(14,414,430)
China [Member]
Schedule Of Income Before Income Tax [Line Items]
Profit before income taxes	¥ (886,634,531)	$ (128,549,921)	¥ 64,790,713	¥ 448,162,790

Income Taxes - Summary of Curre

Income Taxes - Summary of Current and Deferred Component of Income Tax Expenses (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Income Tax Disclosure [Abstract]
Current income tax expense	¥ (134,629,133)	$ (19,519,390)	¥ 603,765,914	¥ 121,701,686
Deferred income tax expense (benefit)	371,325,673	53,837,162	(582,913,268)	248,151,964
Income tax expenses	¥ 236,696,540	$ 34,317,772	¥ 20,852,646	¥ 369,853,650

Income Taxes - Summary of Princ

Income Taxes - Summary of Principal Components of Deferred Tax Assets and Liabilities (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Non-current deferred tax assets
Risk assurance liabilities	¥ 361,992,619	$ 52,483,996	¥ 276,221,432
Provision for credit losses	255,231,296	37,005,059	194,973,439
Contract assets	0	0	7,495,619
Short-term and long-term lease liabilities	20,181,689	2,926,070	0
Customer advances	5,136,587	744,735	5,552,404
Fair value change on derivative instruments	0	0	1,336,597
Net operating loss carry-forward	67,815,707	9,832,353	16,959,870
Less: valuation allowance	(447,965,176)	(64,948,845)	(16,959,870)
Non-current deferred tax assets, net	262,392,722	38,043,368	485,579,491
Non-current deferred tax liabilities
Acquisition of insurance brokerage license	(10,724,126)	(1,554,852)	(10,724,126)
Unrealized gain on long-term investment	(11,009,130)	(1,596,174)	(11,009,130)
Contract assets	(168,704,122)	(24,459,798)	0
Operating lease right-of-use assets	(20,181,689)	(2,926,070)	0
Withholding tax	0	0	(40,746,914)
Others	(7)	(1)	0
Non-current deferred tax liabilities	¥ (210,619,074)	$ (30,536,895)	¥ (62,480,170)

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Income Before the Provision of Income Taxes and Actual Provision for Income Taxes (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Income Taxes [Line Items]
Income (loss) before provision of income tax	¥ (874,511,343)	$ (126,792,224)	¥ 12,308,294	¥ 3,743,273,711
Income tax at statutory tax rate	(218,627,836)	(31,698,057)	3,077,074	935,818,428
Tax rate differential	(6,593,155)	(955,918)	5,070,813	(852,831,321)
Over-accrued EIT for previous years	(2,025,370)	(293,651)	0	0
Impact of tax rate change	(878,656)	(127,393)	0	(35,511,678)
Non-deductible expenses	41,193,294	5,972,465	19,443,641	19,219,052
Research and development super-deduction	(7,943,499)	(1,151,699)	(10,177,551)	(10,970,775)
Non-taxable income	(382,978)	(55,527)	0	(982,266)
Change in valuation allowance	433,465,580	62,846,603	9,894,006	(2,412,144)
Income tax expenses	236,696,540	34,317,772	20,852,646	369,853,650
China [Member]
Income Taxes [Line Items]
Income (loss) before provision of income tax	¥ (886,634,531)	$ (128,549,921)	¥ 64,790,713	¥ 448,162,790
PRC statutory income tax rate	25%	25%	25%	25%
Withholding tax	¥ (1,510,840)		¥ (6,455,337)	¥ 317,524,354	$ (219,051)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Detail)	Jun. 26, 2018 shares
Common Class A [Member]
Earning Per Share [Line Items]
Redeemable convertible preferred shares converted, number of ordinary shares	169,239,905

Earnings (Loss) Per Share - Sum

Earnings (Loss) Per Share - Summary of Computation of Basic and Diluted Net Income Per Share (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Numerator:
Net income (loss) attributable to Cango Inc.'s shareholders	¥ (1,111,207,883)	$ (161,109,996)	¥ (8,544,352)	¥ 3,369,517,847
Class A ordinary shares [Member]
Numerator:
Net income (loss) attributable to Cango Inc.'s shareholders	¥ (815,323,647)	$ (118,210,814)	¥ (6,374,737)	¥ 2,513,009,017
Denominator:
Number of shares used for Basic EPS computation	201,100,000	201,100,000	216,280,000	224,100,000
Basic EPS | (per share)	¥ (4.05)	$ (0.59)	¥ (0.03)	¥ 11.21
Numerator:
Net income (loss) attributable to ordinary shareholders	¥ (815,323,647)	$ (118,210,814)	¥ (6,374,737)	¥ 2,522,647,912
Reallocation of net income attributable to participating securities | ¥				846,869,935
Reallocation of net income as a result of conversion of Class B to Class A shares	(295,884,236)	(42,899,182)	(2,169,615)
Net income (loss) attributable to ordinary shareholders for diluted EPS	¥ (1,111,207,883)	$ (161,109,996)	¥ (8,544,352)	¥ 3,369,517,847
Denominator: (millions of shares)
Number of shares used for Basic EPS computation	201,100,000	201,100,000	216,280,000	224,100,000
Conversion of Series A-2preferred shares to ordinary shares				76,380,000
Weighted average effect of dilutive securities:
Conversion of Class B to Class A ordinary shares	72.98	72.98	73.61
Adjustments for dilutive share options			0	3,420,000
Number of shares used for diluted EPS computation	274,080,000	274,080,000	289,890,000	303,900,000
Diluted EPS | (per share)	¥ (4.05)	$ (0.59)	¥ (0.03)	¥ 11.09
Earnings (losses) per share – ADS:
Denominator used for earnings (losses) per ADS – basic	100.55	100.55	108.14	112.05
Denominator used for earnings (losses) per ADS – diluted	137.04	137.04	144.95	151.95
Earnings (losses) per ADS – basic | (per share)	¥ (8.11)	$ (1.18)	¥ (0.06)	¥ 22.43
Earnings (losses) per ADS – diluted | (per share)	¥ (8.11)	$ (1.18)	¥ (0.06)	¥ 22.18
Class B ordinary shares [Member]
Numerator:
Net income (loss) attributable to Cango Inc.'s shareholders	¥ (295,884,236)	$ (42,899,182)	¥ (2,169,615)	¥ 856,508,830
Denominator:
Number of shares used for Basic EPS computation	72,980,000	72,980,000	73,610,000	76,380,000
Basic EPS | (per share)	¥ (4.05)	$ (0.59)	¥ (0.03)	¥ 11.21
Numerator:
Net income (loss) attributable to ordinary shareholders	¥ (295,884,236)	$ (42,899,182)	¥ (2,169,615)	¥ 846,869,935
Net income (loss) attributable to ordinary shareholders for diluted EPS	¥ (295,884,236)	$ (42,899,182)	¥ (2,169,615)	¥ 846,869,935
Denominator: (millions of shares)
Number of shares used for Basic EPS computation	72,980,000	72,980,000	73,610,000	76,380,000
Weighted average effect of dilutive securities:
Number of shares used for diluted EPS computation	72,980,000	72,980,000	73,610,000	76,380,000
Diluted EPS | (per share)	¥ (4.05)	$ (0.59)	¥ (0.03)	¥ 11.09

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investment	¥ 1,941,432,848	$ 281,481,304	¥ 2,598,935,704
Derivative financial liability	0	0	5,346,389
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investment	1,941,432,848	281,481,304	2,598,935,704
Derivative financial liability			5,346,389
Fair Value, Measurements, Recurring [Member] | Active market (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investment	0	0	464,715,237
Derivative financial liability			0
Fair Value, Measurements, Recurring [Member] | Observable Input (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investment	1,941,432,848	281,481,304	2,134,220,467
Derivative financial liability			5,346,389
Fair Value, Measurements, Recurring [Member] | Non-observable input (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investment	¥ 0	$ 0	0
Derivative financial liability			¥ 0

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail)

1 Months Ended

12 Months Ended

Oct. 11, 2022 CNY (¥)

Oct. 11, 2022 USD ($) $ / shares

Aug. 01, 2022 $ / shares shares

Apr. 22, 2022 CNY (¥) shares

Apr. 22, 2022 USD ($) $ / shares shares

Mar. 11, 2021 CNY (¥)

Mar. 11, 2021 USD ($) $ / shares

Oct. 31, 2020 shares

May 31, 2021 shares

May 31, 2018 shares

Feb. 28, 2018 shares

Dec. 31, 2022 CNY (¥)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 CNY (¥)

Dec. 31, 2020 CNY (¥)

Dec. 31, 2022 USD ($)

Oct. 24, 2022 $ / shares

Jun. 16, 2022 $ / shares

Mar. 22, 2022 $ / shares

May 01, 2021 $ / shares

Mar. 22, 2021 $ / shares

Oct. 15, 2020 $ / shares

Feb. 15, 2019 $ / shares

May 25, 2018 $ / shares shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options granted | shares

8,353,658

8,454,422

5,569,105

Exercise price for options

$ 0.7951

$ 1.2951

$ 1.7951

$ 1.7951

$ 1.7951

Total fair value of the vested share options

¥ 158,522,520

$ 22,983,605

¥ 87,634,835

¥ 78,754,828

Cash dividend per share

$ 0.5

$ 0.5

$ 0.5

Share based compensation cash dividend

¥ 957,700,000

$ 134,800,000

¥ 913,300,000

$ 136,600,000

¥ 955,400,000

$ 147,100,000

Proceeds from exercise of share options

7,041,437

1,020,912

8,236,613

6,693,716

ESOP [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total fair value of the vested share options

95,854,700

13,897,625

80,710,465

70,486,300

Common Class A [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise price for options

$ 1.2951

Mr Jiayuan Lin [Member] | Common Class A [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | shares

6,000,000

6,000,000

Mr Xiaojun Zhang [Member] | Common Class A [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | shares

6,000,000

6,000,000

ESOP [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Proceeds from exercise of share options

¥ 7,041,437

$ 1,020,912

¥ 8,236,613

¥ 6,693,715

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise price of unexercised option

$ 0.7951

$ 1.2951

$ 1.7951

Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Exercise price of unexercised option

$ 0.2951

$ 0.7951

$ 1.2951

Share Incentive Plan 2018 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options granted | shares

5,569,105

Options under the ESOP | shares

27,845,526

Exercise price for options

$ 1.7951

Vesting period of options granted

4 years

4 years

Share-based Compensation Award, Tranche One [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation expense related to unvested options

¥ 0

$ 0

Expense is expected to recognized over weighted-average period

Expense is expected to recognized over weighted-average remaining contractual period

5 years 4 months 24 days

5 years 4 months 24 days

Share-based Compensation Award, Tranche One [Member] | Share Incentive Plan 2018 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting rights percentage

50%

50%

Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation expense related to unvested options

¥ 687,362

99,658

Expense is expected to recognized over weighted-average period

1 month 17 days

1 month 17 days

Expense is expected to recognized over weighted-average remaining contractual period

6 years 1 month 17 days

6 years 1 month 17 days

Share-based Compensation Award, Tranche Three [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation expense related to unvested options

¥ 13,786,408

1,998,841

Expense is expected to recognized over weighted-average period

1 year 5 months 1 day

1 year 5 months 1 day

Expense is expected to recognized over weighted-average remaining contractual period

7 years 9 months 14 days

7 years 9 months 14 days

Share-based Compensation Award, Tranche Three [Member] | Share Incentive Plan 2018 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting rights percentage

25%

25%

Share Based Compensation Award Tranche Four [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation expense related to unvested options

¥ 39,997,694

5,799,120

Expense is expected to recognized over weighted-average period

1 year 6 months 7 days

1 year 6 months 7 days

Expense is expected to recognized over weighted-average remaining contractual period

8 years 4 months 2 days

8 years 4 months 2 days

Share Based Compensation Award Tranche Five One [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options granted | shares

28,000

Exercise price for options

$ 0.7951

Unrecognized compensation expense related to unvested options

¥ 123,670

17,930

Expense is expected to recognized over weighted-average period

2 years 4 months 17 days

2 years 4 months 17 days

Expense is expected to recognized over weighted-average remaining contractual period

9 years 7 months 2 days

9 years 7 months 2 days

Share Based Compensation Award Tranche Five Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options granted | shares

1,585,000

Exercise price for options

$ 0.7951

Unrecognized compensation expense related to unvested options

¥ 6,666,956

$ 966,618

Expense is expected to recognized over weighted-average period

2 years 4 months 17 days

2 years 4 months 17 days

Expense is expected to recognized over weighted-average remaining contractual period

9 years 7 months 2 days

9 years 7 months 2 days

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Assumptions Used to Value the Share Options Granted to Employees (Detail)	Aug. 01, 2022 CNY (¥)	Jun. 16, 2022 CNY (¥)	May 01, 2021 CNY (¥)	Oct. 15, 2020 CNY (¥)	Feb. 15, 2019 CNY (¥)	May 25, 2018 CNY (¥)	Aug. 01, 2022 $ / shares	Jun. 16, 2022 $ / shares	May 01, 2021 $ / shares	Oct. 15, 2020 $ / shares	Feb. 15, 2019 $ / shares	May 25, 2018 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		3.20%	0.74%	0.74%	2.66%	2.93%
Volatility		47.80%	38%	37.60%	38.70%	38.70%
Expected exercise multiple		2.8	2.3	2.3	2.3	2.8
Dividend yield		0%	0%	0%	0%	0%
Expected life		10 years	10 years	10 years	10 years	10 years
Exercise price | $ / shares								$ 0.7951	$ 1.2951	$ 1.7951	$ 1.7951	$ 1.7951
Fair value of ordinary shares | ¥		¥ 10.52	¥ 21.72	¥ 19.03	¥ 26.8	¥ 37.82
Share Based Compensation Award Tranche Five One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.59%
Volatility	48.10%
Expected exercise multiple	2.8
Dividend yield	0%
Expected life	10 years
Exercise price | $ / shares							$ 0.7951
Fair value of ordinary shares | ¥	¥ 8.66
Share Based Compensation Award Tranche Five Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.59%
Volatility	48.10%
Expected exercise multiple	2.2
Dividend yield	0%
Expected life	10 years
Exercise price | $ / shares							$ 0.7951
Fair value of ordinary shares | ¥	¥ 8.66

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Option Activity under ESOP (Detail) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Number of options, Beginning balance	25,946,770	18,510,727	10,826,997
Number of options, Granted	13,613,000	8,454,422	8,353,658
Number of options, Exercised	(1,817,288)	(737,228)	(600,014)
Number of options, Forfeited	(1,687,224)	(281,151)	(69,914)
Number of options, Ending balance	36,055,258	25,946,770	18,510,727
Weighted average exercise price, Beginning balance	¥ 8	¥ 12	¥ 12
Weighted average exercise price, Granted	5	8	12
Weighted average exercise price, Exercised	4	11	12
Weighted average exercise price, Forfeited	6	9	12
Weighted average exercise price, Ending balance	2	8	12
Weighted average grant date fair value, Beginning balance	25	26	32
Weighted average grant date fair value, Granted	10	22	19
Weighted average grant date fair value, Exercised	25	30	38
Weighted average grant date fair value, Forfeited	20	22	24
Weighted average grant date fair value, Ending balance	¥ 20	¥ 25	¥ 26
Aggregate Intrinsic Value, Exercised	¥ 5,086,872	¥ 13,715,140	¥ 8,104,920
Vested or expected to vest, Number of options	35,974,369
Vested or expected to vest, Weighted average exercise price	¥ 2
Vested or expected to vest , Aggregate Intrinsic Value	¥ 89,299,258
Exercisable, Number of options	21,567,181
Exercisable, Weighted average exercise price	¥ 2
Exercisable, Aggregate Intrinsic Value	¥ 53,536,263

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Allocated Share-based Compensation Expense (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	¥ 158,522,520	$ 22,983,605	¥ 87,634,835	¥ 78,754,828
Cost of Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	4,160,056	603,152	4,927,484	3,075,317
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	14,691,410	2,130,054	15,311,101	16,003,486
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	135,888,877	19,702,035	63,035,444	55,590,630
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	¥ 3,782,177	$ 548,364	¥ 4,360,806	¥ 4,085,395

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Dec. 31, 2022	CNY (¥)	USD ($)
Commitment and Contingencies [Line Items]
Total capital commitments contracted but not yet reflected in financial statements	¥ 770,000	$ 111,640

Ordinary Shares - Additional In

Ordinary Shares - Additional Information (Detail)	Sep. 14, 2020 shares	Aug. 14, 2019 shares	Jun. 26, 2019 shares	Aug. 06, 2018 shares	Jul. 30, 2018 shares	Jul. 26, 2018 Vote shares	Nov. 29, 2017 $ / shares shares	Oct. 09, 2017 shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Apr. 27, 2021 shares	Dec. 31, 2017 shares
Common Equity [Line Items]
Shares issued							124,969,987	124,969,987
Par value | $ / shares							$ 0.0001
Shares authorized												372,138,271
Common Class A [Member]
Common Equity [Line Items]
Shares issued				600,000	8,000,000
Par value | $ / shares									$ 0.0001	$ 0.0001
Shares authorized									420,647,280	420,647,280
Shares issued	2,000,000	1,737,238	609,805			169,239,905
Ordinary shares, outstanding									196,605,493	196,605,493
Ordinary shares, shares issued									229,831,213	206,506,455
Common Class B [Member]
Common Equity [Line Items]
Par value | $ / shares									$ 0.0001	$ 0.0001
Shares authorized									79,325,720	79,325,720
Ordinary shares, vote per share | Vote						20
Ordinary shares, outstanding									72,978,677	72,978,677
Ordinary shares, shares issued									72,978,677		2,000,000
American Depositary Shares [Member]
Common Equity [Line Items]
Shares issued				300,000	4,000,000

Treasury Shares - Additional In

Treasury Shares - Additional Information (Detail)

Dec. 31, 2022 USD ($) $ / shares shares

Dec. 31, 2022 CNY (¥) shares

Sep. 28, 2022 USD ($) $ / shares shares

Sep. 28, 2022 CNY (¥) shares

Apr. 22, 2022 USD ($)

Aug. 19, 2021 USD ($)

Mar. 15, 2021 USD ($) $ / shares shares

Mar. 15, 2021 CNY (¥) shares

Mar. 02, 2021 USD ($)

May 29, 2020 USD ($) $ / shares shares

May 29, 2020 CNY (¥) shares

Jul. 19, 2019 USD ($) $ / shares shares

Jul. 19, 2019 CNY (¥) shares

Share Repurchase Program 2019, Share Repurchase Program 2021 and New Share Repurchase Programs [Member]

Temporary Equity [Line Items]

Repurchase Value

$ 93,776,334

¥ 620,094,680

American Depositary Shares [Member]

Temporary Equity [Line Items]

Average repurchase price per ADS | $ / shares

$ 5.12

American Depositary Shares [Member] | Share Repurchase Programs 2019 [Member]

Temporary Equity [Line Items]

Authorized to repurchase of shares | $

$ 10,000,000

Number of Shares repurchased

431,556

431,556

Average repurchase price per ADS | $ / shares

$ 6.95

Repurchase Value

$ 2,999,314

¥ 20,638,881

American Depositary Shares [Member] | Share Repurchase Programs 2021 [Member]

Temporary Equity [Line Items]

Repurchase Value | $

$ 100,000,000

American Depositary Shares [Member] | New Share Repurchase Program [Member]

Temporary Equity [Line Items]

Repurchase Value | $

$ 50,000,000

American Depositary Shares [Member] | Share Repurchase Program 2021 And New Share Repurchase Program [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

4,124,098

4,124,098

American Depositary Shares [Member] | Share Repurchase Program 2019, Share Repurchase Program 2021 and New Share Repurchase Programs [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

18,190,125

18,190,125

Average repurchase price per ADS | $ / shares

$ 5.16

American Depositary Shares [Member] | Minghuai LP And Xiehuai LP [Member]

Temporary Equity [Line Items]

Repurchase Value

$ 85,045,883

¥ 559,005,216

American Depositary Shares [Member] | Minghuai LP And Xiehuai LP [Member] | Share Repurchase Programs 2019 [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

1,398,516

1,398,516

Average repurchase price per ADS | $ / shares

$ 5

Repurchase Value

$ 6,992,580

¥ 49,219,318

American Depositary Shares [Member] | Minghuai LP And Xiehuai LP [Member] | Share Repurchase Programs 2021 [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

3,000,000

3,000,000

Average repurchase price per ADS | $ / shares

$ 9.45

Repurchase Value

$ 28,350,000

¥ 184,728,600

American Depositary Shares [Member] | Minghuai LP And Xiehuai LP [Member] | New Share Repurchase Program [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

1,735,027

1,735,027

Average repurchase price per ADS | $ / shares

$ 2.3

Repurchase Value

$ 3,991,729

¥ 28,791,942

Common Class A [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

33,225,720

33,225,720

Common Class A [Member] | Share Repurchase Programs 2019 [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

863,112

863,112

Common Class A [Member] | Share Repurchase Programs 2021 [Member]

Temporary Equity [Line Items]

Repurchase Value | $

$ 100,000,000

Common Class A [Member] | Share Repurchase Program 2021 And New Share Repurchase Program [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

8,248,196

8,248,196

Common Class A [Member] | Share Repurchase Program 2019, Share Repurchase Program 2021 and New Share Repurchase Programs [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

36,380,250

36,380,250

Common Class A [Member] | Minghuai LP And Xiehuai LP [Member] | Share Repurchase Programs 2019 [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

2,797,032

2,797,032

Common Class A [Member] | Minghuai LP And Xiehuai LP [Member] | Share Repurchase Programs 2021 [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

6,000,000

6,000,000

Common Class A [Member] | Minghuai LP And Xiehuai LP [Member] | New Share Repurchase Program [Member]

Temporary Equity [Line Items]

Number of Shares repurchased

3,470,054

3,470,054

Restricted Net Assets - Additio

Restricted Net Assets - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)
Restricted Net Assets [Abstract]
Percentage of net after-tax income of Group's subsidiary and VIE required to be annually appropriated to the statutory general reserve fund	10%
Limit of statutory reserve fund as a percentage of registered capital, after which allocations to statutory reserve fund are no longer required	50%
Amounts restricted including paid in capital and statutory reserve funds	¥ 6,301	¥ 5,621	$ 815

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - American Depositary Shares [Member] - USD ($) $ in Millions			4 Months Ended
	Apr. 21, 2023	Apr. 22, 2022	Apr. 17, 2023
New Share Repurchase Program [Member]
Subsequent Event [Line Items]
Repurchase Value		$ 50
Subsequent Event [Member] | Share Repurchase Program 2021 [Member]
Subsequent Event [Line Items]
Repurchase Value			$ 410,482
Number of Shares repurchased			350,812
Subsequent Event [Member] | New Share Repurchase Program [Member]
Subsequent Event [Line Items]
Repurchase Value	$ 50

Condensed Financial Informati_2

Condensed Financial Information of the Parent Company - Condensed Balance Sheets (Detail)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Current assets
Cash and cash equivalents	¥ 378,917,318	$ 54,937,847	¥ 1,434,806,922	¥ 1,426,899,576
Short-term investments	1,941,432,848	281,481,304	2,598,935,704
Other current assets	22,055,970	3,197,815	18,857,709
Total current assets	5,470,343,990	793,125,325	7,607,930,351
Non-current assets
Total non-current assets	1,545,908,343	224,135,642	3,339,173,681
Total assets	7,016,252,333	1,017,260,967	10,947,104,032
Current assets (including current assets of the consolidated VIEs pledged or collateralized for the VIEs' obligations of RMB728,780,079 and RMB372,874,938 (US$54,061,784) as of December 31, 2021 and December 31, 2022, respectively):
Other current liabilities	76,395,904	11,076,368	50,495,262
Total current liabilities	2,530,902,347	366,946,350	3,417,702,889
Other non-current liabilities	314,287	45,567	991,610
Total non-current liabilities	163,440,981	23,696,714	538,834,322
Total liabilities	2,694,343,328	390,643,064	3,956,537,211
Shareholders' equity
Treasury shares	559,005,216	81,048,138	485,263,213
Additional paid-in capital	4,805,240,472	696,694,379	4,671,769,821
Accumulated other comprehensive income	66,359,902	9,621,281	(187,517,110)
Retained earnings	9,109,587	1,320,766	2,991,373,063
Total shareholders' equity	4,321,909,005	626,617,903	6,990,566,821	¥ 8,375,209,137	¥ 5,491,660,291
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	7,016,252,333	1,017,260,967	10,947,104,032
Common Class A [Member]
Shareholders' equity
Ordinary shares	154,483	22,398	154,483
Common Class B [Member]
Shareholders' equity
Ordinary shares	49,777	7,217	49,777
Parent Company [Member]
Current assets
Cash and cash equivalents	85,823,048	12,443,172	857,888,496
Short-term investments	1,149,961,626	166,728,763	1,679,107,862
Short-term amounts due from subsidiaries (other than WFOE)	402,663,708	58,380,750	738,960,885
Other current assets	4,395,552	637,295	1,964,886
Total current assets	1,642,843,934	238,189,980	3,277,922,129
Non-current assets
Investments in subsidiaries	54,820,009	7,948,154	64,698,500
Contractual interest in the VIEs and VIEs' subsidiaries	2,978,731,315	431,875,444	3,965,065,845
Total non-current assets	3,033,551,324	439,823,598	4,029,764,345
Total assets	4,676,395,258	678,013,578	7,307,686,474
Current assets (including current assets of the consolidated VIEs pledged or collateralized for the VIEs' obligations of RMB728,780,079 and RMB372,874,938 (US$54,061,784) as of December 31, 2021 and December 31, 2022, respectively):
Short-term amounts due to subsidiaries (other than WFOE)	34,502,715	5,002,423	0
Other current liabilities	319,983,531	46,393,251	276,372,739
Total current liabilities	354,486,246	51,395,674	276,372,739
Other non-current liabilities	7	1	40,746,914
Total non-current liabilities	7	1	40,746,914
Total liabilities	354,486,253	51,395,675	317,119,653
Shareholders' equity
Treasury shares	(559,005,216)	(81,048,138)	(485,263,213)
Additional paid-in capital	4,805,240,472	696,694,379	4,671,769,821
Accumulated other comprehensive income	66,359,902	9,621,281	(187,517,110)
Retained earnings	9,109,587	1,320,766	2,991,373,063
Total shareholders' equity	4,321,909,005	626,617,903	6,990,566,821
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	4,676,395,258	678,013,578	7,307,686,474
Parent Company [Member] | Common Class A [Member]
Shareholders' equity
Ordinary shares	154,483	22,398	154,483
Parent Company [Member] | Common Class B [Member]
Shareholders' equity
Ordinary shares	¥ 49,777	$ 7,217	¥ 49,777

Condensed Financial Informati_3

Condensed Financial Information of the Parent Company - Condensed Balance Sheets (Parenthetical) (Detail) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Apr. 27, 2021	Dec. 31, 2017	Nov. 29, 2017
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value					$ 0.0001
Ordinary shares, shares authorized				372,138,271
Common Class A [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	420,647,280	420,647,280
Ordinary shares, shares issued	229,831,213	206,506,455
Ordinary shares, shares outstanding	196,605,493	196,605,493
Common Class B [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	79,325,720	79,325,720
Ordinary shares, shares issued	72,978,677		2,000,000
Ordinary shares, shares outstanding	72,978,677	72,978,677
Parent Company [Member] | Common Class A [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	420,674,280	420,674,280
Ordinary shares, shares issued	229,831,213	229,831,213
Ordinary shares, shares outstanding	196,605,493	206,506,455
Parent Company [Member] | Common Class B [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	79,325,720	79,325,720
Ordinary shares, shares issued	72,978,677	72,978,677
Ordinary shares, shares outstanding	72,978,677	72,978,677

Condensed Financial Informati_4

Condensed Financial Information of the Parent Company - Condensed Statements of Comprehensive Income (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Condensed Statement of Income Captions [Line Items]
General and administrative	¥ (299,545,363)	$ (43,429,995)	¥ (276,179,441)	¥ (265,691,411)
Foreign exchange (loss)	5,918,231	858,063	1,351,400	(8,848,354)
Net gain (loss) on equity securities	(9,810,585)	(1,422,402)	(12,991,522)	3,353,381,213
Other income, net	52,066,718	7,548,965	41,911,589	49,139,337
Other expense	2,465,972	357,532	6,605,833	838,115
Net income (loss) before income taxes	(874,511,343)	(126,792,224)	12,308,294	3,743,273,711
Income tax expense	(236,696,540)	(34,317,772)	(20,852,646)	(369,853,650)
Net income (loss)	(1,111,207,883)	(161,109,996)	(8,544,352)	3,373,420,061
Other comprehensive income (loss), net of tax	253,877,012		(72,130,683)	(234,817,165)
Total comprehensive income (loss), net of tax	(857,330,871)	(124,301,289)	(80,675,035)	3,138,602,896
Parent Company [Member]
Condensed Statement of Income Captions [Line Items]
General and administrative	(7,443,140)	(1,079,154)	(10,079,685)	(11,854,536)
Interest Income	26,502,229	3,842,462	4,440,117	1,889,711
Foreign exchange (loss)	(411,971)	(59,730)	(390,858)	(706,543)
Net gain (loss) on equity securities	(14,671,470)	(2,127,163)	(27,278,116)	3,315,475,734
Share of income (loss) of subsidiaries	(9,705,617)	(1,407,182)	(15,118,076)	(17,947,567)
Contractual interests in the VIEs and VIEs' subsidiaries	(1,131,232,451)	(164,013,288)	37,717,412	395,464,418
Other income, net	24,251,883	3,516,195	1,928,027	4,725,168
Other expense	(8,186)	(1,187)	(6,218,510)	(4,184)
Net income (loss) before income taxes	(1,112,718,723)	(161,329,047)	(14,999,689)	3,687,042,201
Income tax expense	1,510,840	219,051	6,455,337	(317,524,354)
Net income (loss)	(1,111,207,883)	(161,109,996)	(8,544,352)	3,369,517,847
Other comprehensive income (loss), net of tax	253,877,012	36,808,707	(72,130,683)	(234,817,165)
Total comprehensive income (loss), net of tax	¥ (857,330,871)	$ (124,301,289)	¥ (80,675,035)	¥ 3,134,700,682

Condensed Financial Informati_5

Condensed Financial Information of the Parent Company - Condensed Statements of Cash Flows (Detail)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Condensed Cash Flow Statements, Captions [Line Items]
Net income	¥ (1,111,207,883)	$ (161,109,996)	¥ (8,544,352)	¥ 3,373,420,061
Net gain (loss) on equity securities	(1,162,556)	(168,555)	(5,346,389)	3,289,676
Changes in operating assets and liabilities
Net cash (used in) provided by operating activities	(567,385,052)	(82,263,099)	(404,390,831)	(621,612,202)
Net cash provided by investing activities	1,959,528,803	284,104,970	2,661,222,986	(493,563,047)
Net cash provided by financing activities	(2,990,208,748)	(433,539,516)	(1,946,434,308)	(380,822,429)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	270,267,366	39,185,085	(15,008,806)	(36,093,321)
Net increase (decrease) in cash and cash equivalents and restricted cash	(1,327,797,631)	(192,512,560)	295,389,041	(1,532,090,999)
Cash, cash equivalents and restricted cash at beginning of the year	2,610,280,765	378,455,136	2,314,891,724	3,846,982,723
Cash, cash equivalents and restricted cash at the end of the year	1,282,483,134	185,942,576	2,610,280,765	2,314,891,724
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income	(1,111,207,883)	(161,109,996)	(8,544,352)	3,369,517,847
Net gain (loss) on equity securities	14,671,470	2,127,163	27,278,116	(3,315,475,734)
Share of income (loss) of subsidiaries	9,705,617	1,407,182	15,118,076	17,947,567
Contractual Interests in the VIEs and VIEs Subsidiaries	1,131,232,451	164,013,288	(37,717,412)	(395,464,418)
Changes in operating assets and liabilities	(182,850)	(26,513)	(6,320,138)	310,474,194
Changes in operating assets and liabilities
Net cash (used in) provided by operating activities	44,218,805	6,411,124	(10,185,710)	(13,000,544)
Net cash provided by investing activities	1,028,108,135	149,061,668	2,150,227,042	456,658,680
Net cash provided by financing activities	(1,969,849,465)	(285,601,326)	(1,391,602,116)	(310,709,163)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	125,457,077	18,189,566	(5,443,535)	(19,238,574)
Net increase (decrease) in cash and cash equivalents and restricted cash	(772,065,448)	(111,938,968)	742,995,681	113,710,399
Cash, cash equivalents and restricted cash at beginning of the year	857,888,496	124,382,140	114,892,815	1,182,416
Cash, cash equivalents and restricted cash at the end of the year	¥ 85,823,048	$ 12,443,172	¥ 857,888,496	¥ 114,892,815