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Earnings Per Share ("EPS") | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share ("EPS") |
16. | EARNINGS PER SHARE (“EPS”)
Basic earnings per share is computed using the weighted average number of the ordinary shares outstanding during the period. Diluted earnings 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, 2019, 2020 and 2021:
|  | For the years ended December 31, |
Basic EPS: |  | 2019 |  |  | 2020 |  |  | 2021 |
|  | Class A Ordinary |  |  | Class B Ordinary |  |  | Class A |  |  | Class B |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Shares |  |  | Shares |  |  | Ordinary Shares |  |  | Ordinary Shares |  |  | 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 |  |  | 289,646,757 |  |  |  | 101,267,135 |  |  |  | 2,513,009,017 |  |  |  | 856,508,830 |  |  |  | (6,374,737 | ) |  |  | (1,000,334 | ) |  |  | (2,169,615 | ) |  |  | (340,460 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of shares used for Basic EPS computation (millions of shares) |  |  | 224.07 |  |  |  | 78.34 |  |  |  | 224.10 |  |  |  | 76.38 |  |  |  | 216.28 |  |  |  | 216.28 |  |  |  | 73.61 |  |  |  | 73.61 |
Basic EPS |  |  | 1.29 |  |  |  | 1.29 |  |  |  | 11.21 |  |  |  | 11.21 |  |  |  | (0.03 | ) |  |  | (0.00 | ) |  |  | (0.03 | ) |  |  | (0.00 | )
|  | For the years ended December 31, |
Diluted EPS: |  | 2019 |  |  | 2020 |  |  | 2021 |
|  | Class A |  |  | Class B |  |  | Class A |  |  | Class B |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Ordinary Shares |  |  | Ordinary Shares |  |  | Ordinary Shares |  |  | Ordinary Shares |  |  | Class A Ordinary Shares |  |  | Class B Ordinary Shares |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |  |  | RMB |  |  | US$ |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to ordinary shareholders |  |  | 289,937,256 |  |  |  | 100,976,636 |  |  |  | 2,522,647,912 |  |  |  | 846,869,935 |  |  |  | (6,374,737 | ) |  |  | (1,000,334 | ) |  |  | (2,169,615 | ) |  |  | (340,460 | )
Reallocation of net income as a result of conversion of Class B to Class A shares |  |  | 100,976,636 |  |  |  | — |  |  |  | 846,869,935 |  |  |  | — |  |  |  | (2,169,615 | ) |  |  | (340,460 | ) |  |  | — |  |  |  | — |
Net income (loss) attributable to ordinary shareholders for diluted EPS |  |  | 390,913,892 |  |  |  | 100,976,636 |  |  |  | 3,369,517,847 |  |  |  | 846,869,935 |  |  |  | (8,544,352 | ) |  |  | (1,340,794 | ) |  |  | (2,169,615 | ) |  |  | (340,460 | )
Denominator: (millions of shares) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of shares used for basic EPS computation |  |  | 224.07 |  |  |  | 78.34 |  |  |  | 224.10 |  |  |  | 76.38 |  |  |  | 216.28 |  |  |  | 216.28 |  |  |  | 73.61 |  |  |  | 73.61 |
Weighted average effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Conversion of Class B to Class A ordinary shares |  |  | 78.34 |  |  |  | — |  |  |  | 76.38 |  |  |  | — |  |  |  | 73.61 |  |  |  | 73.61 |  |  |  | — |  |  |  | — |
Adjustments for dilutive share options |  |  | 0.87 |  |  |  | — |  |  |  | 3.42 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Number of shares used for diluted EPS computation |  |  | 303.28 |  |  |  | 78.34 |  |  |  | 303.90 |  |  |  | 76.38 |  |  |  | 289.89 |  |  |  | 289.89 |  |  |  | 73.61 |  |  |  | 73.61 |
Diluted EPS |  |  | 1.29 |  |  |  | 1.29 |  |  |  | 11.09 |  |  |  | 11.09 |  |  |  | (0.03 | ) |  |  | (0.00 | ) |  |  | (0.03 | ) |  |  | (0.00 | )
Earnings per share – ADS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator used for earnings per ADS – basic |  |  | 112.04 |  |  |  |  |  |  |  | 112.05 |  |  |  |  |  |  |  | 108.14 |  |  |  | 108.14 |  |  |  |  |  |  |  |  |
Denominator used for earnings per ADS – diluted |  |  | 151.64 |  |  |  |  |  |  |  | 151.95 |  |  |  |  |  |  |  | 144.95 |  |  |  | 144.95 |  |  |  |  |  |  |  |  |
Earnings per ADS – basic |  |  | 2.59 |  |  |  |  |  |  |  | 22.43 |  |  |  |  |  |  |  | (0.06 | ) |  |  | (0.01 | ) |  |  |  |  |  |  |  |
Earnings per ADS – diluted |  |  | 2.58 |  |  |  |  |  |  |  | 22.18 |  |  |  |  |  |  |  | (0.06 | ) |  |  | (0.01 | ) |  |  |  |  |  |  |  |

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