ICG vs UCAR
Intchains Group Ltd. and U Power Ltd., side by side — 6 fiscal years reported in CNY, drawn from SEC filings.
At a glance
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.
Revenue by year
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 |
Net income by year
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 |
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