Intchains Group Ltd. ADR ( (ICG) ) has released its Q3 earnings. Here is a breakdown of the information Intchains Group Ltd. ADR presented to its investors.
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Intchains Group Ltd. ADR is an innovative company focused on developing altcoins and providing integrated solutions through high-performance computing ASIC chip products, while actively engaging in Web3-based applications and holding ETH-based cryptocurrencies as part of its long-term asset reserve. In its third quarter of 2024, Intchains Group reported significant financial improvements, with a revenue surge to RMB60.3 million compared to RMB6.8 million in the same period last year, marking a remarkable 781.4% increase. The company’s net income also turned positive, reaching RMB3.2 million, a substantial improvement from the net loss of RMB19.1 million recorded in the third quarter of 2023. Key drivers of this growth included a 25.9% rise in ASIC chip sales and the successful launch of new products that commanded higher selling prices. Furthermore, the company has been focusing on strategic expansion, highlighted by the launch of Goldshell Pay, a blockchain-based payment solution for merchants. Looking ahead, Intchains Group remains optimistic about the future of the crypto industry, planning to introduce a hardware crypto wallet in Q4 2024 and complete new ASIC product commercialization by Q1 2025.
