Intchains Group Limited Reports Fourth Quarter and Full Year 2025 Financial Results

Core Viewpoint - Intchains Group Limited reported significant financial losses for Q4 2025 and FY 2025, primarily due to decreased revenue from altcoin mining products and adverse market conditions affecting cryptocurrency valuations [1][4]. Q4 2025 Financial Highlights - Revenue for Q4 2025 was RMB 36.1 million (US$ 5.2 million), a decrease of 51.3% from RMB 74.2 million in Q4 2024 [9]. - Loss from operations was RMB 83.7 million (US$ 12.0 million), compared to a loss of RMB 36.8 million in Q4 2024 [12]. - The change in fair value of cryptocurrencies resulted in a loss of RMB 74.4 million (US$ 10.6 million) for Q4 2025, contrasting with a gain of RMB 29.2 million in Q4 2024 [14]. - Net loss for Q4 2025 was RMB 130.7 million (US$ 18.7 million), compared to a net income of RMB 12.8 million in Q4 2024 [16]. FY 2025 Financial Highlights - Total revenue for FY 2025 was RMB 220.9 million (US$ 31.6 million), down 21.6% from RMB 281.8 million in FY 2024 [21]. - Loss from operations for FY 2025 was RMB 104.7 million (US$ 15.0 million), compared to income from operations of RMB 2.9 million in FY 2024 [24]. - The change in fair value of cryptocurrencies for FY 2025 was a gain of RMB 4.8 million (US$ 0.7 million), significantly lower than a gain of RMB 21.3 million in FY 2024 [26]. - Net loss for FY 2025 was RMB 52.0 million (US$ 7.4 million), compared to net income of RMB 51.5 million in FY 2024 [28]. Recent Business Updates & 2026 Strategy - The company completed the acquisition of a Proof-of-Stake platform for US$ 1.3 million and launched the Goldshell Stake platform, expanding its cryptocurrency staking services [4]. - The 2026 strategy focuses on the sale of altcoin mining machines, investing in new products, and improving profitability through cost-saving initiatives [4]. - As of February 23, 2026, the company held 9,070 units of ETH, with 2,600 units currently staked across its platforms [6]. - The company plans to enhance its ETH accumulation strategy and continue to generate staking yields through partnerships with platforms like FalconX [6]. Regulatory Environment - Following a regulatory notice from PRC governmental bodies on February 6, 2026, the company ceased accepting new orders from customers in mainland China to comply with new restrictions on mining machine sales [4]. - The company aims to mitigate the impact of these regulations by accelerating the expansion of its overseas sales channels and marketing infrastructure [4].