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Cango Inc.
Q12024
6/13/2024
Conference Call Operator
Moderator
Good morning and good evening, everyone. Welcome to Kengo Inc.' 's first quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. This call is also being broadcast live on the company's IR website. Joining us today are Mr. Jiayuan Ling, Chief Executive Officer, and Mr. Yongli Zheng, Chief Financial Officer of the company. Following management's prepared remarks, we will conduct the Q&A session. Before we begin, I refer you to the safe harbor statement in the company's earnings release, which also applies to the conference call today, as management will be making forward-looking statements. With that said, I'm now turning the call over to Mr. Jaiwan Lin, CEO of Tango. Please go ahead, sir.
Jiayuan Ling
Chief Executive Officer
Welcome to CanGo's first quarter 2021 earnings call.
Yongli Zheng
Chief Financial Officer
In the first quarter of 2024, China's GDP increased by 5.3% and maintained a warm growth in a complex global economic environment. The data of the Chinese Motor Industry Association shows that in the first quarter, the car sales each completed 660.6 million and 672 million, respectively increasing by 6.4% and 10.6%. China's GDP maintains moderate growth in Q1 2024, increasing by 5.3% year-on-year despite a complex global economic environment. According to the China Association of Automobile Manufacturers,
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