Intchains Group Limited Q4 FY2025 earnings call

• Company engages in altcoin mining machine design/development, Ethereum accumulation/yield strategies, Web3 infrastructure services. - 2025 saw launch of Allio, Dogecoin, XTM miners; Gold Shield Byte dual miner with ability to switch algorithm cards. - Continued ETH accumulation with disciplined approach, holding 8,826 ETH by Dec 31, 2025, up 56% from prior year; by Feb 23, 2026, over 9,000 ETH. - Partnered with FalconX for staking, acquired proof-of-stake platform and launched GoldShield stake platform for staking services on multiple coins. - FY2025 revenue down 21.6% due to market cyclicality, but product launches reinforced market competency.

The company is engaged in altcoin mining machine design/development, Ethereum accumulation/yield generating strategies, and Web3 infrastructure services. Sales of mining machines are primary revenue source. FY2025 revenue was 220.9 million RMB (31.6 million USD), down 21.6% due to market cyclicality. Cost of revenue was 204.9 million RMB (29.3 million USD), up 56.1% due to impairment charges on mining machine inventory. Operating expenses decreased 18.7% to 120.6 million RMB (17.3 million USD). Operating loss was 104.7 million RMB (50 million USD) vs income from operations of 2.9 million RMB in FY2024. Net loss was 52 million RMB (7.4 million USD) vs net income of 51.5 million RMB in FY2024. As of Dec 31, 2025, cash provision was 67.8 million USD, current assets 83.2 million USD, total assets 145.2 million USD, total liability 6.2 million USD. Altcoin mining machines like Allio, Dogecoin, XTM miners were key product launches. ETH accumulation: held 8,826 ETH as of Dec 31, 2025, up 56% from year ago; by Feb 23, 2026, over 9,000 ETH. Staking: partnered with FalconX, acquired proof-of-stake platform and launched GoldShield stake platform for staking services on multiple coins.

2026 growth centered on continued R&D investment in Gold Shield mining machines and ETH accumulation/staking, with cost optimization. First half 2026 focused on generating revenues from existing 2025-launched mining machine series like Allio, Dogecoin, XTM

Industry heavily influenced by cyclical volatility impacting net revenue. On Feb 6, 2026, notice prohibiting sale of mining machines within mainland China by production enterprises; company enhancing internal controls and rectifying, but management doesn't expect material adverse impact.