Intchains Group Limited Reports Second Quarter 2023 Unaudited Financial Results … – Press Release

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SHANGHAI, China, Aug. 16, 2023 (GLOBE NEWSWIRE) — Intchains Group Limited ICG (“we,” or the “Company”), a provider of integrated solutions consisting of high-performance computing ASIC chips and ancillary software and hardware for blockchain applications, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Operating and Financial Highlights

  • Sales volume of ASIC chips was 371,423 units for the second quarter of 2023, representing a decrease of 65.3% from 1,071,845 units for the same period of 2022.
  • Revenue was RMB13.9 million (US$1.9 million) for the second quarter of 2023, representing a decrease of 91.3% from RMB159.4 million for the same period of 2022.
  • Net loss was RMB20.5 million (US$2.8 million) for the second quarter of 2023, compared with a net income of RMB117.6 million for the same period of 2022.

Mr. Qiang Ding, Chairman of the Board of Directors and Chief Executive Officer, commented, “In the second quarter of 2023, the blockchain industry began a gradual recovery. Continued expansion of the technology’s application scenarios demonstrated its sustainable growth potential, which further bolstered investor confidence. Simultaneously, the ongoing evolution of blockchain technology unlocked vast new opportunities across a multitude of industries. As a fast-growing company and provider of high-performance computing ASIC chips and related software and hardware, our goal is to build Intchains into a leading Web 3.0 infrastructure provider. To progress to the next stage of this journey, we have been proactively exploring downstream growth opportunities to accelerate our product offering expansion beyond ASIC chips. Moving forward, we will continue to innovate and iterate advanced hardware and software for Web 3.0 application scenarios as we broaden our services throughout the industry value chain and promote the healthy and sustainable development of the Web 3.0 industry as a whole.”

Second Quarter 2023…

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