ICG vs UCAR
Intchains Group Ltd. and U Power Ltd., side by side — 6 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | ICG | UCAR |
|---|---|---|
| Revenue | CNY 220.9M | CNY 41.1M |
| Net income | CNY -47.5M | CNY -68.7M |
| Gross margin | 7.2% | 36.3% |
| Net margin | −21.5% | −195.7% |
| Return on equity | −4.8% | −24.4% |
| Diluted EPS | −CNY 0.39 | −CNY 15.05 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY -97.6M | CNY -70.4M |
| Equity | CNY 976.6M | CNY 271.0M |
| Net debt / equity | · | −0.01× |
| Current ratio | 14.10× | 1.80× |
| Revenue CAGR 5y | 32.2% | 94.9% |
| Profit CAGR 5y | · | · |
ICG bills 5.4× the revenue of UCAR, and both 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 | UCAR |
|---|---|---|
| FY2025 | CNY 220.9M | CNY 41.1M |
| FY2024 | CNY 281.8M | CNY 44.3M |
| FY2023 | CNY 82.2M | CNY 19.8M |
| FY2022 | CNY 473.7M | CNY 7.8M |
| FY2021 | CNY 631.8M | CNY 8.0M |
| FY2020 | CNY 54.6M | CNY 1.5M |
Bottom line
| Fiscal year | ICG | UCAR |
|---|---|---|
| FY2025 | CNY -47.5M | CNY -68.7M |
| FY2024 | CNY 51.5M | CNY -47.9M |
| FY2023 | CNY -26.8M | CNY -19.3M |
| FY2022 | CNY 355.2M | CNY -45.9M |
| FY2021 | CNY 450.1M | CNY -41.4M |
| FY2020 | CNY 8.2M | CNY -5.5M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 179,739,000 | ICG |
| FY2024 | +CNY 237,477,000 | ICG |
| FY2023 | +CNY 62,461,000 | ICG |
| FY2022 | +CNY 465,944,000 | ICG |
| FY2021 | +CNY 623,828,000 | ICG |
| FY2020 | +CNY 53,139,000 | ICG |
ICG has reported the higher revenue in every one of these 6 fiscal years. 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.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +174.2 pp | ICG |
| FY2024 | +145.5 pp | ICG |
| FY2023 | +96.3 pp | ICG |
| FY2022 | +814.7 pp | ICG |
| FY2021 | +683.8 pp | ICG |
| FY2020 | +461.1 pp | ICG |
ICG has kept the higher net margin in every one of these 6 fiscal years.
6 of 6 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UCAR's net margin has been more volatile than ICG's over the 6 comparable fiscal years — 241.0 percentage points of standard deviation against 41.1.
6 of 6 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ICG led in net margin in every one of the 6 comparable fiscal years — a structural lead, not a recent swing.
6 of 6 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ICG's return on equity has been more volatile than UCAR's over the 5 comparable fiscal years — 57.5 percentage points of standard deviation against 6.0.
5 of 6 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ICG led in return on equity in every one of the 5 comparable fiscal years — a structural lead, not a recent swing.
5 of 6 comparable fiscal years — a year missing data on either side is not counted.