Intchains Group Limited American Depositary Shares - ICG STOCK NEWS

Intchains Group (Nasdaq: ICG) reported strong financial results for Q2 2024:

- Revenue increased 785.1% YoY to RMB123.0 million (US$16.9 million)
- Net income of RMB50.4 million (US$6.9 million), compared to a net loss in Q2 2023
- ASIC chip sales volume decreased 26.2% YoY to 274,019 units
- Cryptocurrency holdings valued at RMB135.7 million (US$18.7 million)

Key highlights:
- Launched new Goldshell-branded computing equipment for cryptocurrency mining
- Expanded overseas, with 71.7% of Q2 revenue from international markets
- Continued focus on technological innovation and cryptocurrency acquisition strategy

Intchains Group (Nasdaq: ICG), a provider of integrated solutions for blockchain applications and a corporate holder of Ethereum-based cryptocurrencies, has announced its plans to release unaudited financial results for the second quarter of 2024. The results will be disclosed after the U.S. market closes on Thursday, August 15, 2024. Following the release, the company will host an earnings conference call at 9:00 P.M. U.S. Eastern Time on the same day (9:00 A.M. Beijing Time on August 16, 2024) to discuss the financial results. Interested participants can register for the call using the provided link and will receive dial-in numbers and a personal access PIN upon registration. A live and archived webcast of the conference call will also be available on the company's website.

Intchains Group (Nasdaq: ICG) reported its unaudited Q1 2024 financial results on May 17, 2024. ASIC chip sales remained stable at approximately 494,235 units. However, revenue decreased by 6.8% year-over-year to RMB24.3 million (US$3.4 million), primarily due to a one-off sale in Q1 2023. Net loss was RMB14.8 million (US$2.1 million), compared to a net income of RMB4.7 million the previous year.

The company saw a significant rise in operating expenses, mainly driven by a 357% increase in R&D costs. As of March 31, 2024, the fair value of their cryptocurrency assets was RMB23.6 million (US$3.3 million). Intchains has initiated a new cryptocurrency acquisition strategy aimed at strengthening its ETH-based asset reserves.

Intchains Group , a provider of high-performance computing ASIC chip products for blockchain applications, will report its unaudited financial results for the first quarter of 2024 on May 16, 2024. The earnings conference call to discuss the results will be held on the same day.

Intchains Group (ICG) filed its annual report for the fiscal year 2023, highlighting its high-performance computing ASIC chip products for blockchain applications. Shareholders can access the report online or request a hard copy for free.

Intchains Group Limited (ICG) completes acquisition of assets from GOLDSHELL PTE. LTD., enhancing its presence in the WEB3 industry. The transaction includes intellectual property, trademarks, websites, and applications for a purchase price of US$550,000.

Intchains Group Limited (ICG) announced its unaudited financial results for Q4 and full year 2023, with a decrease in ASIC chip sales volume but an increase in revenue. Despite challenges, the company remains optimistic about the future, focusing on innovation and growth opportunities.

Intchains Group Limited (ICG) will release its unaudited financial results for Q4 and full year of 2023 on February 28, 2024. The earnings conference call will be held at 8:00 P.M. U.S. Eastern Time on the same day.

Intchains Group Limited (Nasdaq: ICG) has entered into an asset acquisition agreement with GOLDSHELL PTE. LTD. to purchase certain assets used in the Seller’s operation of its Goldshell WEB3 infrastructure brand for US$550,000 in cash. The acquisition is expected to be completed by the end of the first quarter of 2024. The Chairman of the Board of Directors and CEO of Intchains, Mr. Qiang Ding, expressed excitement about the acquisition, stating that it will enable the company to enter the downstream production and sales sector across mining equipment and other WEB3 infrastructure-related hardware and software products with an effective multi-brand strategy.