ICG vs NA
Intchains Group Ltd. and Nano Labs Ltd., side by side — 6 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | ICG | NA |
|---|---|---|
| Revenue | CNY 220.9M | CNY 27.0M |
| Net income | CNY -47.5M | CNY 135.5M |
| Gross margin | 7.2% | −147.3% |
| Net margin | −21.5% | 466.4% |
| Return on equity | −4.8% | 27.7% |
| Diluted EPS | −CNY 0.39 | CNY 6.82 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY -97.6M | CNY -108.3M |
| Equity | CNY 976.6M | CNY 748.3M |
| Net debt / equity | · | 0.23× |
| Current ratio | 14.10× | 2.09× |
| Revenue CAGR 5y | 32.2% | 66.2% |
| Profit CAGR 5y | · | · |
ICG bills 8.2× the revenue of NA, and ICG closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | ICG | NA |
|---|---|---|
| FY2025 | CNY 220.9M | CNY 27.0M |
| FY2024 | CNY 281.8M | CNY 40.6M |
| FY2023 | CNY 82.2M | CNY 78.3M |
| FY2022 | CNY 473.7M | CNY 983.2M |
| FY2021 | CNY 631.8M | CNY 39.4M |
| FY2020 | CNY 54.6M | CNY 2.1M |
Bottom line
| Fiscal year | ICG | NA |
|---|---|---|
| FY2025 | CNY -47.5M | CNY 135.5M |
| FY2024 | CNY 51.5M | CNY -113.2M |
| FY2023 | CNY -26.8M | CNY -252.8M |
| FY2022 | CNY 355.2M | CNY 31.1M |
| FY2021 | CNY 450.1M | CNY -174.9M |
| FY2020 | CNY 8.2M | CNY -37.7M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 193,857,256 | ICG |
| FY2024 | +CNY 241,171,084 | ICG |
| FY2023 | +CNY 3,889,624 | ICG |
| FY2022 | −CNY 509,428,898 | NA |
| FY2021 | +CNY 592,397,103 | ICG |
| FY2020 | +CNY 52,476,324 | ICG |
The higher-revenue side has changed between ICG and NA over this period. The gap has widened since the earliest year compared.
6 of 6 comparable fiscal years — a year missing data on either side is not counted.
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −487.9 pp | NA |
| FY2024 | +312.7 pp | ICG |
| FY2023 | +292.1 pp | ICG |
| FY2022 | +71.8 pp | ICG |
| FY2021 | +514.8 pp | ICG |
The higher net margin has changed hands between ICG and NA over this period.
5 of 6 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NA's net margin has been more volatile than ICG's over the 5 comparable fiscal years — 327.4 percentage points of standard deviation against 45.0.
5 of 6 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between ICG and NA over these 5 fiscal years — ICG led in 4 and NA in 1.
5 of 6 comparable fiscal years — a year missing data on either side is not counted.