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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.
Key Figures
Reported shares held:5,049,120 sharesPercent of class:8.8%Shares outstanding (base):57,431,614 shares+2 more
5 metrics
Reported shares held5,049,120 sharesheld of record by Golden Stone Capital as of March 31, 2026
Percent of class8.8%calculated using 57,431,614 Class A shares outstanding as of December 31, 2025
Shares outstanding (base)57,431,614 sharesissued and outstanding as of December 31, 2025 per the Form 20-F
CUSIP45828E104Class A ordinary shares
Filing signature date05/11/2026signed by Zhaoyang Ma
Key Terms
SCHEDULE 13G/A, Beneficially owned, Sole Dispositive Power, Held of record
4 terms
SCHEDULE 13G/Aregulatory
"Amendment No. 2 ) Intchains Group Ltd Class A ordinary shares"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Sole Dispositive Powerregulatory
"7 | Sole Dispositive Power 5,049,120.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Held of recordregulatory
"represents 5,049,120 Class A ordinary shares held of record by Golden Stone Capital Limited"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake does Golden Stone Capital report in Intchains Group (ICG)?
Golden Stone Capital reports beneficial ownership of 5,049,120 Class A ordinary shares, representing 8.8% of the Class A shares based on 57,431,614 shares outstanding as of December 31, 2025.
Who ultimately owns the shares reported by Golden Stone Capital in ICG?
The filing states Golden Stone Capital Limited is 100% owned by Zhaoyang Ma, who is identified as the beneficial owner of the 5,049,120 Class A ordinary shares reported.
What dates are relevant in the ICG Schedule 13G/A filing?
Shares are reported held of record as of March 31, 2026, the outstanding-share base is from December 31, 2025, and the amendment is signed on May 11, 2026 by Zhaoyang Ma.
What CUSIP and share class are disclosed in the ICG filing?
The filing covers Class A ordinary shares, par value US$0.000001 with CUSIP 45828E104, as stated on the cover and in Item 2(d) of the Schedule 13G/A.
Does the Schedule 13G/A disclose voting and dispositive powers for the reported shares?
Yes; the cover shows Sole Voting Power and Sole Dispositive Power of 5,049,120 shares for Golden Stone Capital Limited and for Zhaoyang Ma (through the Samoa-owned entity).
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Intchains Group Ltd
(Name of Issuer)
Class A ordinary shares, par value US$0.000001 per share
(Title of Class of Securities)
45828E104
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
45828E104
1
Names of Reporting Persons
Golden Stone Capital Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SAMOA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,049,120.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
5,049,120.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,049,120.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.8 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: (1)The value in rows 5 and 7 represents 5,049,120 Class A ordinary shares held of record by Golden Stone Capital Limited as of March 31, 2026.
(2) Percent of class represented by amount in row (9) is calculated based on an aggregate of 57,431,614 Class A ordinary shares issued and outstanding as of December 31, 2025, as reported in the Issuer's Form 20-F filed with the U.S. Securities and Exchange Commission on April 13, 2026.
SCHEDULE 13G
CUSIP Number(s):
45828E104
1
Names of Reporting Persons
Zhaoyang Ma
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CHINA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,049,120.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
5,049,120.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,049,120.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.8 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: (1)The value in rows 5 and 7 represents 5,049,120 Class A ordinary shares held of record by Golden Stone Capital Limited, a Samoa company 100% owned by Zhaoyang Ma as of March 31, 2026.
(2) Percent of class represented by amount in row (9) is calculated based on an aggregate of 57,431,614 Class A ordinary shares issued and outstanding as of December 31, 2025, as reported in the Issuer's Form 20-F filed with the U.S. Securities and Exchange Commission on April 13, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Intchains Group Ltd
(b)
Address of issuer's principal executive offices:
Building 16, Lane 999, Xinyuan South Road, Lin-gang Special Area, Pudong, Shanghai, F4, 201306
Item 2.
(a)
Name of person filing:
Golden Stone Capital Limited, a Samoa company 100% owned by Zhaoyang Ma.
Zhaoyang Ma, a citizen of the People's Republic of China.
(b)
Address or principal business office or, if none, residence:
The address of each of Golden Stone Capital Limited and Zhaoyang Ma is as follows:
c/o Offshore Chambers, P.O. 217, Apia, Samoa
(c)
Citizenship:
Golden Stone Capital Limited, a Samoa company
Zhaoyang Ma, a citizen of the People's Republic of China
(d)
Title of class of securities:
Class A ordinary shares, par value US$0.000001 per share
(e)
CUSIP No.:
45828E104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information for each reporting person contained in Items 5-11 of the cover pages is incorporated herein by reference.
(b)
Percent of class:
The information for each reporting person contained in Items 5-11 of the cover pages is incorporated herein by reference.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information for each reporting person contained in Items 5-11 of the cover pages is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information for each reporting person contained in Items 5-11 of the cover pages is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information for each reporting person contained in Items 5-11 of the cover pages is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information for each reporting person contained in Items 5-11 of the cover pages is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
