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NASDAQ · SEMICONDUCTORS & RELATED DEVICES · SMALL CAP

Intchains Group Ltd. ICG

6 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 220.9M
▼ 21.6% YoY
CNY -47.5M
▼ 192.3% YoY
CNY -97.6M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Intchains Group Limited primarily engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the development of Web3 applications. As of December 31, 2025, it had 127 full-time employees, substantially all of whom were in mainland China. For the year ended December 31, 2025, it had three customers each contributing more than 10% of its revenue, accounting for 35.1%, 27.0% and 22.4%, respectively. By June 2024, it had fully discontinued the sale of standalone ASIC chips, with revenue generated entirely from altcoin mining machines that integrate its ASIC chips. It launched Goldshell-branded altcoin mining machines targeting overseas markets in early March 2024. As of the date of the annual report, it held approximately 9,070 ETH, acquired at an aggregate purchase price of approximately RMB166.4 million. Operating as a core business segment under the Goldshell brand, Goldshell Stake provides cryptocurrency staking services for individual and institutional crypto investors, covering four blockchains: Ethereum, Avalanche, Manta, and Conflux. Intchains Group Limited began its operations in December 2017 when Shanghai Intchains Technology Co., Ltd. was founded in Shanghai, China.

Written from the business description in Intchains Group Ltd's annual report to the U.S. Securities and Exchange Commission, filed 13 April 2026. Every sentence was checked against that document before publication.

Growth

CNY 220.9M
Revenue, FY2025 · full 6-year series below
Revenue CNY M Net income CNY M
FY2025 · Revenue 220.9 · Net income -47.5
250.0M500.0M
202020232025
Compound annual growth
−22.5%
+32.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +32.2% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−22 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -47.4% · Net -21.5%
20%40%60%-20%-40%-60%
202020222025
ROE
FY2025 · ROE -4.8%
50%100%
202020222025
Three returns, three denominators.

Each CNY of equity lost 5 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF -97.6
150M300M-100M-200M
202020222025

Total assetsCNY 1.0B
EquityCNY 976.6M
CashCNY 221.7M
Current ratio14.10×

Equity funds 96% of total assets.

The 6-year record

6 fiscal years
Every figure from documents filed with the SEC · CNY
row low → row highnegative—not applicable◌not available in our data
ICG, 6-year financial record
Metric 202520242023202220212020
Revenue CNY B0.20.30.10.50.60.1
Operating income CNY B−0.10.0−0.10.30.40.0
EBITDA CNY B−0.10.0−0.10.30.40.0
Income tax CNY B−0.0−0.0−0.00.00.00.0
Net income CNY B−0.00.1−0.00.40.50.0
Free cash flow CNY B−0.1−0.1−0.10.30.40.0
EPS, diluted CNY −0.390.43−0.223.024.460.08
Dividend / sh CNY ◌◌◌◌◌◌
Payout % — not applicable: no dividend——————
ROE %−4.85.2−2.847.0147.024.1
Shares out B0.120.120.120.120.12◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 28 reconciliationsAUDITED

Reconciled in 6 of the 6 fiscal years we could check. 28 checks were skipped: the balance sheet is not tagged before 2021. 13 checks were skipped: EPS is not tagged before 2020. 13 checks were skipped: revenue is not tagged before 2020.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivitySemiconductors & Related Devices
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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