Intchains Group Limited (ICG) reported a sharp deterioration in results for the six months ended June 30, 2026. Total revenue fell to RMB11.1 million from RMB175.6 million a year earlier, as third-party product revenue nearly disappeared and was largely replaced by related-party sales to a single customer.
The company swung from net income of RMB4.3 million to a net loss of RMB148.9 million, driven mainly by a RMB89.5 million loss from changes in fair value of cryptocurrencies, lower gross profit and continued R&D spending. Operating cash outflow was RMB26.8 million, but net investing inflows plus maturities of investments lifted cash and cash equivalents to RMB306.7 million.
The balance sheet remains lightly levered, with total liabilities of RMB34.0 million against shareholders’ equity of RMB829.0 million. The company disclosed extreme customer concentration, with one related party representing 97.5% of revenue. After period-end, the board approved a US$15.0 million ADS share repurchase program over two years.
Intchains Group Ltd (ICG) reported initial equity holdings for Chief Financial Officer Zhuo Yue as of September 1, 2026, with no new purchases or sales disclosed. The CFO directly holds 15,852 Class A ordinary shares, represented by American Depositary Shares, plus multiple unexpired restricted stock unit awards and stock options.
The reported RSU awards together cover underlying Class A ordinary shares in blocks of 1,638, 6,762, 14,984, and 40,240, each RSU representing a contingent right to receive two Class A ordinary shares that vest in four equal annual installments, subject to continued service and performance conditions. The CFO also holds options covering 6,250 underlying Class A ordinary shares, exercisable at US$8.00 per option for two Class A ordinary shares, vesting over four years from a June 1, 2023 commencement date and expiring on May 28, 2033.
Intchains Group Limited (ICG) reports a change in its Chief Financial Officer. The Board accepted the resignation of Mr. Chaowei Yan as CFO, effective August 31, 2026, citing personal reasons and stating there was no disagreement with the company or Board on operations, policies, or practices.
Effective September 1, 2026, the Board appointed Ms. Yue Zhuo, age 34, as the new CFO. She has worked on Intchains’ finance team since September 2022 with responsibilities for financial management and reporting, previously held financial planning and analysis roles at Alibaba Group from 2020 to 2022, and worked at Ernst & Young Hua Ming LLP from 2013 to 2020. She holds a bachelor’s degree from Shanghai University of Finance and Economics and has been a member of the Chinese Institute of Certified Public Accountants since 2016. The Board states it believes she is qualified and notes she has no family relationships with any director or executive officer.
Intchains Group Limited (ICG) reported very weak first half 2026 results amid a severe altcoin downturn and PRC mining-machine sales restrictions. Revenue for the six months ended June 30, 2026 was RMB11.1 million, down 93.7% from RMB175.6 million a year earlier, and gross margin turned negative.
The company recorded a loss from operations of RMB53.0 million versus prior-year operating income of RMB20.8 million. A large RMB89.5 million loss from change in fair value of cryptocurrencies, mainly due to lower ETH prices, drove net loss to RMB148.9 million compared with net income of RMB4.3 million in H1 2025. Non-GAAP adjusted net loss was RMB143.3 million.
Despite the downturn, Intchains ended H1 2026 with RMB461.1 million in cash, cash equivalents and short-term investments and minimal liabilities, and expects to fund its next-generation mining ASIC program from internal resources. The company completed tape-out of its new ASIC in July, targets commercial launch in Q4 2026, and announced a $15 million ADS share repurchase program running from August 21, 2026 to August 20, 2028.
Intchains Group Ltd (symbol: ICG) is the issuer of record for a Form 4/A filing submitted to the SEC.
Intchains Group Ltd (symbol: ICG) is the issuer of record for a Form 4/A filing submitted to the SEC.
Intchains Group Ltd (symbol: ICG) is the issuer of record for a Form 4/A filing submitted to the SEC.
Intchains Group Ltd Schedule 13G/A (Amendment No. 2) reports that Golden Stone Capital Limited and its sole owner Zhaoyang Ma each hold 5,049,120 Class A ordinary shares, representing 8.8% of the Class A ordinary shares outstanding based on 57,431,614 shares issued and outstanding as of December 31, 2025. The filing states these shares are held of record by Golden Stone Capital Limited as of March 31, 2026, and the cover is signed by Zhaoyang Ma on May 11, 2026.
Intchains Group Ltd amendment to a Schedule 13G/A reports beneficial ownership by entities controlled by Qiang Ding. The filing lists holdings of 25,961,500, 3,000,000, 5,912,120, and 6,318,800 Class B ordinary shares held by four reporting entities as of March 31, 2026.
The filing states an aggregate beneficial ownership of 41,192,420 Class B ordinary shares attributable to Mr. Ding, calculated on an as-converted basis at 33.92% using issuer figures of 57,431,614 Class A and 63,992,240 Class B ordinary shares outstanding as of December 31, 2025. The cover-page notes alternative percentage calculations on partially diluted and Class B-only bases.
Ma Weiping reported acquisition or exercise transactions in this Form 4 filing.
Intchains Group Ltd director Ma Weiping received a grant of 23,622 Class A Ordinary Shares as equity compensation. The award, made on May 6, 2026 under the company’s 2022 Share Incentive Plan, represents a fixed value of US$30,000. The shares are fully vested but subject to a six-month lock-up period and are treated as control securities under Rule 144. Following this grant, Ma directly holds 23,622 Class A Ordinary Shares.