Key Takeaways:

Cango has launched a new app, AutoCango, to facilitate the export of used Chinese cars to dealers in developing markets The company's revenue plunged 73% in last year's fourth quarter, but it remains relatively well regarded by investors due to its conservative stance in China's difficult car market

By Doug Young

If you can't stand the heat in China's intensely competitive car market, then you get out of the kitchen.

Of course that's a slight exaggeration, but it's not too far from the latest approach by Cango Inc.(NYSE:CANG), a former...