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

• Completes Acquisition and Launches Goldshell Stake Proof-of-Stake Platform to Advance Cryptocurrency Staking Enterprise
• 2026 Enterprise Technique Targeted on: Sale of Altcoin Mining Machines, Investing in New Merchandise, Enhance Profitability by Leveraging Price Saving Initiatives, and Proceed ETH Accumulation and Twin-Platform ETH Staking
• Built-in Web3 Ecosystem and Expertise Stack Platform, Properly Positions Intchains to Seize Lengthy-Time period Crypto Development Regardless of Brief-Time period Market Volatility
  

SINGAPORE, Feb. 26, 2026 (GLOBE NEWSWIRE) — Intchains Group Restricted (Nasdaq: ICG) (“we,” or the “Firm”), an organization focuses on the event of altcoin mining merchandise, the strategic acquisition, holding, and staking of Ethereum-based cryptocurrencies, and the supply of Web3 infrastructure providers by the operation of a Proof-of-Stake cryptocurrency staking platform, right this moment introduced its unaudited monetary outcomes for the fourth quarter (“This fall 2025”) and full 12 months (“FY 2025”) ended December 31, 2025.

This fall 2025 FINANCIAL HIGHLIGHTS

• Income: Income was RMB36.1 million (US$5.2 million), in comparison with RMB74.2 million for a similar interval of 2024.
• Loss from Operations: Loss from operations was RMB83.7 million (US$12.0 million), in comparison with RMB36.8 million for a similar interval of 2024.
• Change in honest worth of cryptocurrencies: The change in honest worth of cryptocurrencies was a lack of RMB74.4 million (US$10.6 million) throughout This fall 2025, in comparison with a acquire of RMB29.2 million for a similar interval in 2024.
• Internet Revenue/(Loss): Internet loss was RMB130.7 million (US$18.7 million), in comparison with web earnings of RMB12.8 million for a similar interval in 2024.
• Non-GAAP Adjusted Internet Revenue/(Loss): Non-GAAP adjusted web loss was RMB128.5 million (US$18.4 million) for This fall 2025 as in comparison with non-GAAP adjusted web earnings of RMB14.8 million for a similar interval of 2024.
• Money place: As of December 31, 2025, the Firm had money and money equivalents, deposits and authorities securities listed in short-term and long-term investments, in an combination quantity of RMB473.8 million (US$67.8 million), in comparison with RMB541.4 million as of December 31, 2024.

FY 2025 FINANCIAL HIGHLIGHTS

• Income: Income was RMB220.9 million (US$31.6 million), in comparison with RMB281.8 million for a similar interval of 2024.
• Revenue/(Loss) from Operations: Loss from operations was RMB104.7 million (US$15.0 million), in comparison with earnings from operations of RMB2.9 million for a similar interval of 2024.
• Change in honest worth of cryptocurrencies: The change in honest worth of cryptocurrencies was a acquire of RMB4.8 million (US$0.7 million) for FY 2025, in comparison with a acquire of RMB21.3 million for a similar interval in 2024.
• Internet Revenue/(Loss): Internet loss was RMB52.0 million (US$7.4 million), in comparison with web earnings of RMB51.5 million for a similar interval in 2024.
• Non-GAAP Adjusted Internet Revenue/(Loss): Non-GAAP adjusted web loss was RMB43.4 million (US$6.2 million), in comparison with earnings of RMB60.5 million for a similar interval in 2024.

RECENT BUSINESS UPDATES & 2026 STRATEGY

• Core Enterprise Focus: Sale of Altcoin Mining Machines, Price Optimization and Funding in New Merchandise:
  • Within the first half of 2026, Intchains expects to proceed to generate revenues from the sale of its current mining machine collection launched in 2025, together with ALEO, Dogecoin, XTM, and different altcoin-focused merchandise.
  • Throughout 2025, Intchains incurred roughly RMB77.3 million in analysis and growth bills, primarily associated to the event of latest mining machine collection and the improve of current fashions. Constructing on this funding and extra ones planed for the primary half of 2026, the Firm plans to introduce new altcoin mining merchandise within the second half of 2026, with extra particulars to be introduced sooner or later.
  • In 2026, the Firm will concentrate on margin enchancment by value optimization efforts. Following the disposal of sure belongings associated to a non-core chip associated enterprise and related belongings in January 2026, the Firm has carried out a number of cost-management initiatives to reinforce general working effectivity, optimize headcount and create a leaner company construction. These measures are designed to focus assets on core R&D efforts and drive additional margin enlargement.
• ETH Accumulation and Treasury Holding:
  • In 2026, Intchains intends to proceed a prudent ETH accumulation technique to pursue selective, value-driven purchases when market circumstances are favorable, progressively growing its ETH treasury holding over time.
  • As of December 31, 2025, the honest worth of our cryptocurrency belongings aside from stablecoins similar to USDT and USDC was RMB187.6 million (US$26.8 million), which incorporates roughly 8,826 ETH-based cryptocurrencies, valued at RMB186.7 million. In 2026, Intchains continued to build up ETH and as of February 23, 2026, whole ETH held reached 9,070 models.
• ETH Staking Actions:
  • Accomplished acquisition of Proof-of-Stake (“PoS”) platform and launched Goldshell staking enterprise:
    • In December 2025, Intchains acquired a Proof-of-Stake (“PoS”) know-how platform for $1.3 million and formally launched the industrial operation of its impartial PoS platform, Goldshell Stake.
    • Working as a core enterprise phase below the Goldshell model, Goldshell Stake gives cryptocurrency staking providers for each particular person and institutional crypto buyers, masking 4 outstanding blockchains: Ethereum (ETH), Avalanche (AVAX), Manta (MANTA), and Conflux (CFX).
    • The launch of Goldshell Stake represents Intchains’ enlargement into the blockchain infrastructure service sector, positioning the corporate for progress in decentralized finance. Leveraging Intchains’ world buyer base, Goldshell Stake plans to progressively broaden into worldwide markets.
    • With the launch of our staking platform, we now have efficiently established a closed-loop ecosystem integrating {hardware} infrastructure (wallets), belongings, and software program providers. This evolution creates a secondary progress engine past mining {hardware} and builds a strong basis for long-term recurring income.
  • In 2026, Intchains expects to speed up ETH staking actions, by progressively staking the majority of its ETH treasury holdings on FalconX and Goldshell Stake, to generate incremental returns from idle belongings. Extra particularly:
    • Partnering with FalconX, to generate yield by staking ETH holdings on the FalconX platform, producing curiosity earnings by a mix of lending and derivatives-based methods.
    • Staking on Goldshell Stake platform, supplementing Intchains’ ETH staking actions with Intchains’ personal proprietary PoS platform, additional diversifying ETH holdings to maximise dual-platform staking returns.
  • As of February 23, 2026, the Firm’s whole models of ETH utilized in staking had been 2,600. Among the many whole models of ETH utilized in staking, 1,000 is staked on the FalconX platform, and 1,600 is staked on its proprietary Goldshell Stake. Moreover, a complete of 1,359 models of ETH had been staked on its proprietary Goldshell Stake by third events.
• Replace on PRC Regulatory Surroundings. On February 6, 2026, eight PRC governmental our bodies, together with the Individuals’s Financial institution of China, collectively issued the “Discover on Additional Stopping and Dealing with Dangers Associated to Digital Currencies” (the “Discover”). Amongst different provisions, the Discover stipulates that mining machine manufacturing enterprises are strictly prohibited from offering providers such because the sale of mining machines inside mainland China. In response to the Discover and to make sure full compliance, the Firm is enhancing its inside management insurance policies and enterprise rectification measures. Subsequent to the issuance of the Discover, the Firm has ceased accepting new orders from clients in mainland China. The Firm’s enterprise mannequin is designed to serve a worldwide consumer base. Traditionally, our main gross sales markets have consisted of abroad finish customers in addition to home channel companions inside mainland China whose purchases are primarily for export functions. Whereas administration acknowledges that the cessation of home orders and the transition of gross sales channels can have a sure short-term affect on our operations, the Firm plans to actively mitigate this by accelerating the enlargement of its abroad gross sales channels and advertising and marketing infrastructure along side the launch of its new mining merchandise that are scheduled to be launched within the second half of 2026. Consequently, administration doesn’t anticipate the Discover to have a cloth opposed affect on the Firm’s general enterprise, monetary situation, or outcomes of operations in the long run.

Mr. Qiang Ding, Chairman of the Board of Administrators and Chief Govt Officer, commented, “Throughout 2025, we launched a number of progressive industry-leading altcoin mining merchandise, and these new ALEO, Dogecoin, XTM miners, in addition to the progressive BYTE dual-miners, have been well-received by the market and contributed to our revenues in the course of the 12 months, with ALEO miners main robust efficiency in Q1. As beforehand disclosed, our 2025 revenues had been influenced by general decrease gross sales of mining machines following the preliminary surge of ALEO miners. This additionally had an affect on gross margins as we recorded stock impairment costs because of cyclical volatility of altcoin costs and consequently, demand for mining machines.

Whereas our mining collection underwent typical {industry} price-driven fluctuations, we strategically targeted on strengthening our ETH treasury holdings. We superior our ETH technique by a dual-initiative method designed to each optimize ETH accumulation and generate incremental returns on our ETH place. Collaborating with FalconX, we began to generate staking yields. Moreover, by the launch of our Goldshell Stake platform, we entered into staking operation, diversifying our ETH holdings and additional boosting returns. With 9,070 models of ETH in treasury holding and a couple of,600 models of ETH presently staked in each platforms as of February 23, 2026, we preserve a good long-term outlook on the appreciation potential of our ETH treasury, and plan to stake the majority of our ETH holdings constantly over time to maximise staking yields.”

Mr. Ding continued to touch upon 2026 progress technique, “Our 2026 enterprise technique stays centered round altcoin mining {hardware} and ETH technique enhancements. We anticipate income within the first half of 2026 to be primarily pushed by our current product portfolio. Throughout this era, we intend to proceed investing into exploring new progressive altcoin initiatives and leverage our R&D experience to help the well timed growth and iteration of mining machines. Topic to market circumstances and growth progress, we plan to launch new altcoin mining machines within the second half of 2026. On the similar time, we’re adopting numerous cost-savings initiatives designed to enhance our general profitability. Following the divestiture of sure non-core belongings and related workforce discount, we now have restructured the group to function with a leaner company mannequin and larger working effectivity, positioning us for continued margin enlargement.”

“As a Web3 infrastructure supplier, our enterprise is anchored by a number one altcoin {hardware} platform and complemented by our complete technical capabilities throughout the blockchain ecosystem. By leveraging our deep expertise in growing proprietary know-how stacks, encompassing pockets, fee, and staking architectures, we now have cultivated the built-in platform capabilities.”

CONFERENCE CALL INFORMATION
The Firm will host a convention name to debate these monetary outcomes at 8:00 pm U.S. Jap Time on Thursday, February 26, 2026 (akin to 9:00 am Beijing Time on Friday, February 27, 2026).

Participant Dial-in Numbers:

Webcast:
A simultaneous audio webcast together with accompanying slides could also be accessed by way of the next hyperlink: https://edge.media-server.com/mmc/p/ezs9gm6i/, or by way of the investor relations part of the Firm’s web site https://ir.intchains.com. For these unable to hearken to the reside webcast, the replay will probably be out there on the Firm’s web site shortly after the conclusion of the decision.

This fall 2025 FINANCIAL RESULTS

Income
Income was RMB36.1 million (US$5.2 million) for This fall 2025, representing a lower of 51.3% from RMB74.2 million for a similar interval in 2024. The lower was primarily resulting from cyclical fluctuations available in the market and softer demand for our merchandise on this interval.

Price of Income
Price of income was RMB96.7 million (US$13.8 million) for This fall 2025, representing a rise of 76.7% from RMB54.8 million for a similar interval of 2024. Price of income for This fall 2025 was impacted by impairment costs recorded in opposition to extra stock of current altcoin mining machines. Softer market demand led to decrease promoting costs for our altcoin mining merchandise, leading to decrease gross margins for This fall 2025 in comparison with the identical interval in 2024.

Working Bills
Whole working bills had been RMB23.1 million (US$3.3 million) for This fall 2025, representing a lower of 59.0% from RMB56.2 million for a similar interval of 2024. The lower was primarily resulting from decrease analysis and growth bills.

• Analysis and growth bills decreased by 71.6% to RMB13.1 million (US$1.9 million) for This fall 2025 from RMB45.9 million for a similar interval of 2024. The lower was primarily resulting from decreased bills associated to preliminary analysis prices carried out for brand new altcoin mining initiatives.
• Gross sales and advertising and marketing bills decreased by 26.8% to RMB2.1 million (US$0.3 million) for This fall 2025 from RMB2.9 million for a similar interval of 2024, primarily pushed by decreased personnel-related bills.
• Normal and administrative bills elevated by 8.0% to RMB7.8 million (US$1.1 million) for This fall 2025 from RMB7.2 million for a similar interval of 2024, primarily resulting from elevated depreciation bills.

Loss from operations
Loss from operations was RMB83.7 million (US$12.0 million) for This fall 2025, in comparison with RMB36.8 million for a similar interval of 2024, primarily attributable to the lower in income and gross revenue, partially offset by decreased whole working bills.

Curiosity Revenue
Curiosity earnings decreased to RMB2.4 million (US$0.3 million) for This fall 2025 from RMB3.8 million for a similar interval of 2024, primarily resulting from web money utilized in working actions.

Change in honest worth of cryptocurrencies
Change in honest worth of cryptocurrencies resulted in a lack of RMB74.4 million (US$10.6 million) for This fall 2025, in comparison with a acquire of RMB29.2 million for a similar interval in 2024. The loss for This fall 2025 was primarily a results of a lower within the worth of ETH throughout This fall 2025.

Different Revenue, Internet
Different earnings, web was RMB5.3 million (US$0.8 million) for This fall 2025, in comparison with RMB5.4 million, for a similar interval of 2024.

Internet Revenue/(Loss)
Because of the foregoing, we recorded web lack of RMB130.7 million (US$18.7 million) for This fall 2025, in comparison with web earnings of RMB12.8 million for a similar interval of 2024.

Primary and Diluted Internet Revenue/(Loss) Per Strange Share
Primary and diluted web loss per bizarre share each had been RMB1.08 (US$0.15) for This fall 2025 as in comparison with web earnings per bizarre share of RMB0.12 for a similar interval of 2024.

Non-GAAP Adjusted Internet Revenue/(Loss)
Non-GAAP adjusted web loss was RMB128.5 million (US$18.4 million) for This fall 2025 as in comparison with non-GAAP adjusted web earnings of RMB14.8 million for a similar interval of 2024.

Non-GAAP Primary and Diluted Internet Revenue/(Loss) Per Strange Share
Non-GAAP adjusted primary and diluted web loss per bizarre share was RMB1.06 (US$0.15) for This fall 2025 as in comparison with non-GAAP adjusted primary and diluted web earnings per bizarre share RMB0.12 for a similar interval of 2024. Every ADS represents two of the Firm’s Class A bizarre shares.

FY 2025 FINANCIAL RESULTS

Income
Income was RMB220.9 million (US$31.6 million) for FY 2025, representing a lower of 21.6% from RMB281.8 million for a similar interval in 2024. The lower was primarily resulting from cyclical fluctuations available in the market, whereby Intchains’ ALEO mining machine collection contributed to elevated revenues in the course of the first six months in FY 2025, and general demand for our merchandise turned softer throughout Q3 and This fall 2025.

Price of Income
Price of income was RMB204.9 million (US$29.3 million) for FY 2025, representing a rise of 57.1% from RMB130.5 million for a similar interval of 2024. Price of revenues was impacted by impairment costs recorded in opposition to extra stock of sure altcoin mining machines. Softer market demand in Q3 and This fall 2025 led to decrease promoting costs for our altcoin mining merchandise, leading to decrease gross margins for FY 2025 in comparison with the identical interval in 2024.

Working Bills
Whole working bills had been RMB120.6 million (US$17.2 million) for FY 2025, representing a lower of 18.7% from RMB148.4 million for a similar interval of 2024. The lower was primarily resulting from decreased analysis and growth bills, partially offset by barely elevated basic and administrative bills.

• Analysis and growth bills decreased by 29.4% to RMB77.3 million (US$11.1 million) for FY 2025 from RMB109.4 million for a similar interval of 2024, primarily resulting from decreased bills associated to preliminary analysis prices carried out for brand new altcoin mining initiatives.
• Gross sales and advertising and marketing bills remained comparatively regular at RMB8.8 million (US$1.3 million) and RMB8.5 million, respectively, for the FY 2025 and 2024.
• Normal and administrative bills elevated by 13.9% to RMB34.4 million (US$4.9 million) for FY 2025 from RMB30.2 million for a similar interval of 2024, primarily pushed by skilled charges and depreciation bills.

Revenue/(Loss) from operations
Because of the foregoing, loss from operations was RMB104.7 million (US$15.0 million) for FY 2025, in comparison with earnings from operations of RMB2.9 million for a similar interval of 2024.

Curiosity Revenue
Curiosity earnings decreased by 32.2% to RMB11.0 million (US$1.6 million) for FY 2025 from RMB16.2 million for a similar interval of 2024, primarily resulting from web money utilized in working actions.

Change in honest worth of cryptocurrencies
The change in honest worth of cryptocurrencies was a acquire of RMB4.8 million (US$0.7 million) for FY 2025, in comparison with a acquire of RMB21.3 million for a similar interval in 2024. The change in acquire was primarily the results of a lower within the worth of ETH throughout FY 2025 versus a big enhance within the worth of ETH throughout FY 2024, whereas enhance in our holdings of ETH-based cryptocurrencies was 3,124 models throughout FY2025 versus a rise in holding of roughly 5,642 models throughout FY 2024.

Different Revenue, Internet
Different earnings, web, remained regular at RMB8.3 million (US$1.2 million) for FY 2025 and FY 2024.

Internet Revenue/(Loss)
Because of this, our web loss was RMB52.0 million (US$7.4 million) for FY 2025, in comparison with web earnings of RMB51.5 million for a similar interval of 2024.

Primary and Diluted Internet Revenue/(Loss) Per Strange Share
Primary and diluted web loss per bizarre share had been each RMB0.43 (US$0.06) for FY 2025 as in comparison with web earnings per bizarre share of RMB0.43 for a similar interval of 2024.

Non-GAAP Adjusted Internet Revenue/(Loss)
Non-GAAP adjusted web loss was RMB43.4 million (US$6.2 million) for FY 2025 from non-GAAP adjusted web earnings of RMB60.5 million for a similar interval of 2024.

Non-GAAP Primary and Diluted Internet Revenue/(Loss) Per Strange Share
Non-GAAP adjusted primary and diluted web loss per bizarre share was RMB0.36 (US$0.05) for FY 2025 as in comparison with non-GAAP adjusted primary and diluted web earnings per bizarre share of RMB0.50 for a similar interval of 2024. Every ADS represents two of the Firm’s Class A bizarre shares.

About Intchains Group Restricted
Intchains Group Restricted focuses on the event of altcoin mining merchandise, the strategic acquisition, holding, and staking of Ethereum-based cryptocurrencies, and the supply of Web3 infrastructure providers by the operation of a Proof-of-Stake cryptocurrency staking platform. For extra data, please go to the Firm’s web site at: https://intchains.com/.

Trade Charge Info
The unaudited United States greenback (“US$”) quantities disclosed within the accompanying monetary statements are introduced solely for the comfort of the readers. Translations of quantities from RMB into US$ for the comfort of the reader had been calculated on the midday shopping for price of US$1.00=RMB6.9931 on the final buying and selling day of This fall 2025 (December 31, 2025). No illustration is made that the RMB quantities may have been, or could possibly be, transformed into US$ at such price.

Ahead-Trying Statements
Sure statements on this announcement are forward-looking statements. These forward-looking statements contain recognized and unknown dangers and uncertainties and are primarily based on the Firm’s present expectations and projections about future occasions that the Firm believes might have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants. Ahead-looking statements embrace, however will not be restricted to, statements about: (i) our objectives and techniques; (ii) our future enterprise growth, fashioned situation and outcomes of operations; (iii) anticipated adjustments in our income, prices or expenditures; (iv) progress of and competitors traits in our {industry}; (v) our expectations relating to demand for, and market acceptance of, our merchandise; (vi) basic financial and enterprise circumstances within the markets through which we function; (vii) related authorities insurance policies and laws regarding our enterprise and {industry}; (viii) fluctuations available in the market worth of ETH-based cryptocurrencies; beneficial properties or losses from the sale of ETH-based cryptocurrencies; adjustments in accounting therapy for the Firm’s ETH-based cryptocurrencies holdings; a lower in liquidity within the markets through which ETH-based cryptocurrencies are traded; safety breaches, cyberattacks, unauthorized entry, lack of personal keys, fraud, or different occasions resulting in the lack of the Firm’s ETH-based cryptocurrencies; impacts to the value and price of adoption of ETH-based cryptocurrencies related to monetary difficulties and bankruptcies of varied individuals within the {industry}; and (viii) assumptions underlying or associated to any of the foregoing. Traders can establish these forward-looking statements by phrases or phrases similar to “might,” “may,” “will,” “ought to,” “would,” “anticipate,” “plan,” “intend,” “anticipate,” “consider,” “estimate,” “predict,” “potential,” “undertaking” or “proceed” or the unfavourable of those phrases or different comparable terminology. The Firm undertakes no obligation to replace or revise publicly any forward-looking statements to mirror subsequent occurring occasions or circumstances, or adjustments in its expectations, besides as could also be required by legislation. Though the Firm believes that the expectations expressed in these forward-looking statements are cheap, it can not guarantee you that such expectations will become appropriate, and the Firm cautions buyers that precise outcomes might differ materially from the anticipated outcomes and encourages buyers to evaluate different elements which will have an effect on its future leads to the Firm’s registration assertion and different filings with the SEC.

Use of Non-GAAP Monetary Measures
In evaluating Firm’s enterprise, the Firm makes use of non-GAAP measures, similar to adjusted earnings (loss) from operations and adjusted web earnings (loss), as supplemental measures to evaluate and assess its working efficiency. The Firm defines adjusted earnings (loss) from operations as earnings (loss) from operations excluding share-based compensation bills, and adjusted web earnings (loss) as web earnings (loss) excluding share-based compensation bills. The Firm believes that the non-GAAP monetary measures present helpful details about the Firm’s outcomes of operations, improve the general understanding of the Firm’s previous efficiency and future prospects and permit for larger visibility with respect to key metrics utilized by the Firm’s administration in its monetary and operational decision-making.

The non-GAAP monetary measures will not be outlined below U.S. GAAP and will not be introduced in accordance with U.S. GAAP. The non-GAAP monetary measures have limitations as analytical instruments and buyers mustn’t take into account them in isolation, or as an alternative choice to web earnings, money flows offered by working actions or different consolidated statements of operations and money flows information ready in accordance with U.S. GAAP. One of many key limitations of utilizing adjusted web earnings is that it doesn’t mirror the entire gadgets of earnings and expense that have an effect on the Firm’s operations. Share-based compensation bills have been and should proceed to be incurred in Firm’s enterprise and will not be mirrored within the presentation of adjusted web earnings. Additional, the non-GAAP monetary measures might differ from the non-GAAP data utilized by different firms, together with peer firms, and subsequently their comparability could also be restricted. The Firm mitigates these limitations by reconciling the non-GAAP monetary measures to probably the most comparable U.S. GAAP efficiency measures, all of which ought to be thought-about when evaluating the Firm’s efficiency.

For investor and media inquiries, please contact:

Intchains Group Restricted
Investor relations
Electronic mail: ir@intchains.com

The Fairness Group
Lena Cati, Senior Vice President
212-836-9611 / lcati@theequitygroup.com

Alice Zhang, Affiliate
212-836-9610 / azhang@theequitygroup.com