Intchains(US:ICG)2025-11-14 01:00Financial Performance (Q3 2025 vs Q3 2024) - Revenue decreased to RMB 9.1 million ($1.3 million) from RMB 60.3 million due to market cyclicality and softer demand[16] - Net income increased significantly to RMB 74.4 million ($10.5 million) from RMB 3.2 million, primarily due to gains on fair value of cryptocurrency holdings related to a ~67.5% increase in ETH price[16] Financial Performance (9M 2025 vs 9M 2024) - Revenue decreased to RMB 184.7 million ($25.9 million) from RMB 207.6 million, affected by market cyclicality in Q3, offset by strong ALEO miner sales in Q1[16] - Net income increased to RMB 78.7 million ($11.1 million) from RMB 38.7 million, driven by gains on fair value of cryptocurrency holdings related to a ~21.4% increase in ETH price and a 3,117 unit increase of ETH holdings[17, 18] Investments and Assets - R&D investments totaled RMB 64.2 million ($9.0 million), focused on developing new mining machines and upgrading existing ones[19] - Cash position as of September 30, 2025, was RMB 473.6 million ($66.5 million), including cash, equivalents, deposits, and government securities[19] - Total current assets were RMB 663.5 million ($93.2 million), and total assets were RMB 1,143.0 million ($160.6 million) as of September 30, 2025[22] ETH Accumulation and Staking - The company held 8,819 units of ETH, valued at RMB 262.8 million as of September 30, 2025[23] - 1,000 units of ETH, approximately 11.3% of total ETH holdings, were staked on the FalconX platform to generate yields[23] - Intchains plans to acquire a Proof-of-Stake (PoS) platform for $1.3 million to enhance ETH yield through diversified staking[24, 25]