According to online reports, Cango, a company listed on the New York Stock Exchange, disclosed that it had received a preliminary non-binding letter of intent from Endurance Wealth Capital Limited (EWCL) to acquire 10 million Class B common shares from the company's co-founders at a purchase price to be agreed upon by both parties. In addition, the letter of intent also required the founders of Cango to voluntarily convert all remaining Class B common shares they hold into Class A common shares and resign from their board of directors and senior management positions. EWCL also recommended that Cango sell existing domestic businesses and be happy to bring in potential buyers to promote growth in overseas businesses, especially its newly launched cryptocurrency mining business.