Intchains Group Ltd
Intchains Group Ltd provides blockchain and cryptocurrency infrastructure and financial technology solutions, generating revenue primarily through services and products in the digital asset ecosystem.
Business. Intchains Group Ltd (ICG.O) is a technology company operating within the blockchain and cryptocurrency industry. The firm generates revenue through a fee-income model, focusing on financial technology infrastructure. Specific details regarding operating segments, headquarters location, and primary listing exchanges are not available in the provided data.
Analyst recommendations
2 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ2 2026 earnings (expected)2026-07-28 · estimated
- Macro
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-07-08 · AU
- Rate decisionBank of Canada rate decision (press conf.)2026-07-15 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-07-16 · EU
- Rate decisionBank of Japan rate decision (press conf.)2026-07-16 · JP
- Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Intchains Group Ltd (ICG.O) is a technology company operating within the blockchain and cryptocurrency industry. The firm generates revenue through a fee-income model, focusing on financial technology infrastructure. Specific details regarding operating segments, headquarters location, and primary listing exchanges are not available in the provided data.
The company's capital structure is characterized by a very low debt-to-equity ratio of 0.0, indicating no long-term debt obligations, and a high current ratio of 43.08, suggesting strong short-term liquidity. The price-to-book ratio of 0.08 and price-to-tangible-book ratio of 0.08 indicate that the company is trading at a significant discount to its book value, which may reflect market skepticism about its asset quality or future earnings potential.
Profitability metrics show a negative return on equity of -1.58% and a negative return on assets of -1.55%, indicating that the company is not generating returns for shareholders or effectively utilizing its assets. The operating income is negative at -29.12 million CNY, and the net income is also negative at -14.80 million CNY, suggesting that the company is currently unprofitable. These figures are below the typical performance of the industry, which is expected to have higher returns given the capital intensity and growth potential of blockchain and cryptocurrency businesses.
The company's revenue is concentrated in a single business segment, as disclosed in the financial snapshot, with no geographic breakdown provided. This lack of diversification may expose the company to higher operational and market risks, particularly in a volatile industry like blockchain and cryptocurrency. The absence of segment or geographic data limits the ability to assess the company's exposure to different markets or product lines.
The company's growth trajectory is uncertain, as the financial data does not provide forward-looking revenue projections. The current revenue of 24.27 million CNY is not compared to historical figures, making it difficult to assess growth trends. Analysts have provided a mean price target of 3.00 CNY, which is significantly higher than the current market price of 1.26 CNY, suggesting some optimism about the company's future performance. However, the lack of strong buy recommendations and the presence of only two buy ratings indicate a cautious outlook from the analyst community.
The risk assessment indicates low liquidity and dilution risks, with no immediate filing-based flags detected. The company's capital structure is free of long-term debt, and its cash and equivalents of 665.80 million CNY provide a strong liquidity buffer. However, the negative operating and net income suggest that the company may need to raise additional capital in the future, which could lead to dilution for existing shareholders. The absence of dilution risks in the current assessment does not preclude the possibility of future capital-raising activities.
Recent events and filings do not provide specific details about the company's operations or strategic initiatives. The financial data is current as of the latest available period, but there is no indication of recent material events that could impact the company's financial position or market valuation. The lack of detailed information on recent developments limits the ability to assess the company's current strategic direction and operational performance.
- The company has a strong liquidity position with a high current ratio and no long-term debt.
- The company is currently unprofitable, with negative returns on equity and assets.
- The company's revenue is concentrated in a single segment, increasing operational risk.
- Analysts have a cautiously optimistic outlook, with a mean price target significantly higher than the current market price.
- The company's valuation is extremely low relative to book value, which may reflect market skepticism.
Bull / Bear case
Generated · model-assistedAnalysts project 294.6% upside to a consensus price target of 3.0, signaling strong institutional confidence in future recovery.
The company maintains a debt-to-equity ratio of 0.0444, indicating a low-leverage balance sheet with minimal financial distress risk.
A current ratio of 14.10 demonstrates exceptional short-term liquidity, providing ample buffer against immediate operational obligations.
Dilution and liquidity risks are assessed as low, reducing immediate threats to shareholder value and market stability.
The company posted a net loss of 47.5 million CNY, reversing previous profitability and highlighting significant operational challenges.
Free cash flow turned negative at -46.4 million CNY, reflecting an inability to generate cash from operations.
Credit risk is flagged as high, suggesting potential difficulties in meeting financial obligations or securing favorable financing terms.
In focus — financials by report
Revenue ¥36.1M, −51,3% YoY; Operating income −1 004,0% YoY.
- ▍Revenue ¥36.1M, −51,3% YoY
- ▍Operating income −1 004,0% YoY
- ▍Net income −1 087,5% YoY
- ▍Net margin -349.3%
Revenue ¥9.1M, −84,8% YoY; Operating income −1 430,9% YoY.
- ▍Revenue ¥9.1M, −84,8% YoY
- ▍Operating income −1 430,9% YoY
- ▍Net income +2 258,4% YoY
- ▍Net margin 813.9%
Revenue ¥43.2M; Operating income -¥16.2M.
- ▍Revenue ¥43.2M
- ▍Operating income -¥16.2M
- ▍Net margin 88.6%
Revenue ¥132.4M, +445,5% YoY; Operating income +226,8% YoY.
- ▍Revenue ¥132.4M, +445,5% YoY
- ▍Operating income +226,8% YoY
- ▍Net income −129,8% YoY
- ▍Net margin -25.7%
Revenue ¥74.2M; Operating income -¥7.6M.
- ▍Revenue ¥74.2M
- ▍Operating income -¥7.6M
- ▍Net margin 17.2%
Revenue ¥60.3M; Operating income ¥3.1M.
- ▍Revenue ¥60.3M
- ▍Operating income ¥3.1M
- ▍Net margin 5.2%
Revenue ¥24.3M; Operating income -¥29.1M.
- ▍Revenue ¥24.3M
- ▍Operating income -¥29.1M
- ▍Net margin -61.0%
Revenue ¥220.9M, −21,6% YoY; Operating income −531,3% YoY.
- ▍Revenue ¥220.9M, −21,6% YoY
- ▍Operating income −531,3% YoY
- ▍Net income −192,3% YoY
- ▍Free cash flow −200,0% YoY
- ▍Net margin -21.5%
Revenue ¥281.8M, +242,7% YoY; Operating income +137,3% YoY.
- ▍Revenue ¥281.8M, +242,7% YoY
- ▍Operating income +137,3% YoY
- ▍Net income +292,2% YoY
- ▍Free cash flow +163,3% YoY
- ▍Net margin 18.3%
Valuation TTM
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,17 |
| Revenue | —no estimate | —no estimate | 47,3M CNY |
| Operating income | —no estimate | —no estimate | 5,5M CNY |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- No immediate filing-based liquidity or dilution flags were detected.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Return On Equitynet_income / total_equity
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- Ev To Revenueenterprise_value / revenue
- Intchains Group Ltd Market data — financials · 2026-05-28
- Intchains Group Ltd Market data — analyst estimates · 2026-05-28
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
- Director · Class A Ordinary SharesOther 23 622 · 2026-05-06
- Director · Class A Ordinary SharesOther 23 622 · 2026-05-06
- Director · Class A Ordinary SharesOther 23 622 · 2026-05-06
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): 63.9%Derived (calculated)
- Return on assets (FY 2025-12-31): -4.7%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): -18.2%Derived (calculated)
- R&D expense (YoY) (2025-12-31 vs 2024-12-31): -26.3%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -200.0%Derived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -51.2%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): -196.4%Derived (calculated)
- Debt-to-equity (FY 2025-12-31): 0.04xDerived (calculated)
- Current ratio (FY 2025-12-31): 14.10xDerived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): -3,814.4%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -40.8%Derived (calculated)
- Gross profit (YoY) (2025-12-31 vs 2024-12-31): -89.0%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -200.0%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -28.2%Derived (calculated)
- Gross margin (FY 2025-12-31): 7.2%Derived (calculated)
- Return on equity (FY 2025-12-31): -4.9%Derived (calculated)
- Net margin (FY 2025-12-31): -21.5%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -2.3%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 0.6%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 29.9%Derived (calculated)
- R&D expense (annual): USD 11.05MSEC XBRL filing
- Cash & equivalents (annual): USD 31.7MSEC XBRL filing
- Revenue (annual): USD 31.58MSEC XBRL filing
- Cost of revenue (annual): USD 29.3MSEC XBRL filing