Intchains Group Limited Reports First Quarter 2024 Unaudited Financial Results
Intchains Group Limited Reports First Quarter 2024 Unaudited Financial Results
SHANGHAI, China – May 16, 2024 – Intchains Group Limited (Nasdaq: ICG) ("we," or the "Company"), a provider of integrated solutions consisting of high-performance computing ASIC chip-based solutions products and a corporate holder of cryptocurrencies based on Ethereum, or ETH, today announced its unaudited financial results for the first quarter ended March 31, 2024.
中國上海——2024年5月16日——Intchains集團有限公司(納斯達克股票代碼:ICG)(“我們” 或 “公司”)是一家由高性能計算ASIC芯片解決方案產品組成的綜合解決方案提供商,也是基於以太坊(ETH)的加密貨幣的公司持有人,今天公佈了截至2024年3月31日的第一季度未經審計的財務業績。
First Quarter 2024 Operating and Financial Highlights
2024 年第一季度運營和財務摘要
- Sales volume of ASIC chips remained steady at 494,235 units for the first quarter of 2024, compared to 497,854 units for the same period of 2023. ASIC chip sales for the first quarter of 2024 consisted of 410,162 units sold directly to customers and 84,073 units embedded in computing equipment for blockchain applications that we began offering to customers in the fourth quarter of 2023.
- Revenue was RMB24.3 million (US$3.4 million) for the first quarter of 2024, representing a decrease of 6.8% from RMB26.0 million for the same period of 2023.
- Net loss was RMB14.8 million (US$2.1 million) for the first quarter of 2024, compared to net income of RMB4.7 million for the same period of 2023.
- As of March 31, 2024, the fair value of our cryptocurrency assets was RMB23.6 million (US$3.3 million), primarily comprised of approximately 825 ETH, with a total fair value of RMB21.9 million (US$3.1 million).
- 2024年第一季度,澳大利亞證券投資委員會芯片的銷量穩定在494,235輛,而2023年同期爲497,854輛。2024年第一季度的ASIC芯片銷售量包括直接向客戶銷售的410,162片,以及嵌入在計算設備中的84,073單元,用於區塊鏈應用,我們於2023年第四季度開始向客戶提供這些芯片。
- 2024年第一季度的收入爲人民幣2430萬元(合340萬美元),較2023年同期的人民幣2,600萬元下降了6.8%。
- 2024年第一季度的淨虧損爲人民幣1,480萬元(合210萬美元),而2023年同期的淨收入爲人民幣470萬元。
- 截至2024年3月31日,我們的加密貨幣資產的公允價值爲人民幣2360萬元(合330萬美元),主要由約825個以太幣組成,總公允價值爲2190萬元人民幣(310萬美元)。
Mr. Qiang Ding, Chairman of the Board of Directors and Chief Executive Officer, commented, "During the first quarter of 2024, the industry demonstrated a clear upward trajectory. As a market leader, Intchains fully leveraged its resources and technological advantages to seize rising opportunities within the industry and along the value chain. While we remain committed to fostering growth and progress across our current business lines, we are actively exploring new products and business models. In the first quarter of 2024, we began trial production and sales of our newly introduced Goldshell-branded Box series computing equipment for blockchain applications. These devices feature the latest ASIC chips, designed and manufactured using a 12nm process node, which swiftly garnered widespread market acclaim and bolstered recognition of our cutting-edge technology and brand. As we progress through 2024, we will continue to enhance our R&D capabilities and develop additional ASIC chip products tailored for applications across the WEB3 industry.
董事會主席兼首席執行官丁強先生評論說:“在 2024 年第一季度,該行業呈現出明顯的上升軌跡。作爲市場領導者,Intchains充分利用其資源和技術優勢,抓住行業內和價值鏈上不斷增加的機會。在我們繼續致力於促進當前業務領域的增長和進步的同時,我們正在積極探索新產品和商業模式。2024年第一季度,我們開始試生產和銷售新推出的用於區塊鏈應用的Goldshell品牌Box系列計算設備。這些設備採用最新的ASIC芯片,使用12納米工藝節點設計和製造,迅速獲得了廣泛的市場讚譽,並增強了對我們尖端技術和品牌的認可。隨着我們在2024年取得進展,我們將繼續增強我們的研發能力,並開發更多爲WEB3行業的應用量身定製的ASIC芯片產品。
First Quarter 2024 Financial Results
2024 年第一季度財務業績
Revenue
收入
Cost of Revenue
收入成本
Operating Expenses
運營費用
Total operating expenses were RMB38.1 million (US$5.3 million) for the first quarter of 2024, representing an increase of 168.3% from RMB14.2 million for the same period of 2023. The increase was primarily due to an increase in research and development expenses, sales and marketing expenses, and general and administrative expenses, partially offset by a net gain on fair value of cryptocurrency.
2024年第一季度的總運營支出爲人民幣3,810萬元(合530萬美元),較2023年同期的人民幣1,420萬元增長了168.3%。增長主要是由於研發費用、銷售和營銷費用以及一般和管理費用的增加,但部分被加密貨幣公允價值的淨收益所抵消。
- Research and development expenses increased by 357.0% to RMB36.5 million (US$5.1 million) for the first quarter of 2024 from RMB8.0 million for the same period of 2023. The increase was primarily due to higher expenses related to mask costs for our research and development projects, as well as increased personnel-related expenses.
- Sales and marketing expenses increased by 27.2% to RMB1.6 million (US$0.2 million) for the first quarter of 2024 from RMB1.3 million for the same period of 2023, mainly driven by increased share-based incentive expenses.
- General and administrative expenses increased by 9.5% to RMB5.4 million (US$0.7 million) for the first quarter of 2024 from RMB4.9 million for the same period of 2023, mainly driven by increased share-based incentive expenses.
- Gain on fair value of cryptocurrency, net, for the first quarter of 2024 was RMB5.4 million (US$0.7 million), compared to nil in the same period of 2023. We early-adopted the amendments required pursuant to ASU 2023-08 on January 1, 2024, using a modified retrospective transition method with a cumulative-effect adjustment recorded to the opening balance of retained earnings as of January 1, 2024. The cumulative-effect adjustment of RMB0.3 million was recorded as an increase to the opening balance of retained earnings as of January 1, 2024. We measured cryptocurrency at fair value and included the gains and losses from remeasurement in net income. The gain pertains to the change in cryptocurrency's fair value from the adoption date, January 1, 2024, to March 31, 2024, which was mainly due to the increased price of ETH.
- 研發費用從2023年同期的人民幣800萬元增長了357.0%,至2024年第一季度的人民幣3,650萬元(合510萬美元)。增長的主要原因是與我們的研發項目口罩成本相關的支出增加,以及與人事相關的費用增加。
- 銷售和營銷費用從2023年同期的人民幣130萬元增長了27.2%,至2024年第一季度的人民幣160萬元(20萬美元),這主要是由基於股份的激勵支出增加所推動的。
- 一般和管理費用從2023年同期的人民幣490萬元增長了9.5%,至2024年第一季度的人民幣540萬元(70萬美元),這主要是由基於股份的激勵支出增加所推動的。
- 2024年第一季度的加密貨幣公允價值淨收益爲人民幣540萬元(70萬美元),而2023年同期爲零。我們於2024年1月1日提前通過了亞利桑那州立大學2023-08所要求的修正案,採用了修改後的追溯過渡方法,對截至2024年1月1日的留存收益期初餘額進行了累積效應調整。截至2024年1月1日,人民幣30萬元的累積效應調整是留存收益期初餘額的增加。我們以公允價值衡量加密貨幣,並將調整的收益和損失計入淨收益。收益與加密貨幣公允價值從採用日期(2024年1月1日至2024年3月31日)的變化有關,這主要是由於以太坊價格上漲所致。
Interest Income
利息收入
Other Income, Net
其他收入,淨額
Net Income/(Loss)
淨收益/(虧損)
Basic and Diluted Net Earnings/(Loss) Per Ordinary Share
每股普通股的基本和攤薄後的淨收益/(虧損)
Recent Developments
最近的事態發展
We have begun implementing a pivotal cryptocurrency acquisition strategy in this quarter to expand the Company's investments in cryptocurrencies. Pursuant to this strategy, the Company plans to acquire ETH-based cryptocurrencies using cash flows generated from operations. We view our holdings of ETH-based cryptocurrencies as long-term holdings and expect to continue to accumulate ETH-based cryptocurrencies. We have not set any specific target for the amount of ETH-based cryptocurrencies we seek to hold, and we will continue to monitor market conditions in determining whether to purchase additional ETH-based cryptocurrencies. Going forward, ETH-based cryptocurrencies will serve as a crucial long-term asset reserve for us.
我們已在本季度開始實施一項關鍵的加密貨幣收購策略,以擴大公司對加密貨幣的投資。根據這一戰略,公司計劃使用運營產生的現金流收購基於以太坊的加密貨幣。我們將持有的基於ETH的加密貨幣視爲長揸,並預計將繼續積累基於ETH的加密貨幣。我們尚未爲我們尋求持有的基於ETH的加密貨幣數量設定任何具體目標,我們將繼續監測市場狀況,以確定是否購買更多基於ETH的加密貨幣。展望未來,基於ETH的加密貨幣將成爲我們至關重要的長期資產儲備。
Conference Call Information
電話會議信息
Event Title:
Date:
Time:
Registration Link:
活動標題:
日期:
時間:
註冊鏈接:
Intchains Group Limited First Quarter 2024 Earnings Conference Call
May 16, 2024
9:00 P.M. U.S. Eastern Time
https://register.vevent.com/register/BI6390b60244b94f14ae203c00c53a2f4e
Intchains Group Limited 2024 年第一季度業績電話會議
2024年5月16日
美國東部時間晚上 9:00
https://register.vevent.com/register/BI6390b60244b94f14ae203c00c53a2f4e
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of dial-in numbers and a personal access PIN, which will be used to join the conference call.
所有參與者必須使用上面提供的鏈接在電話會議之前完成在線註冊流程。註冊後,每位參與者將收到一組撥入號碼和個人訪問密碼,用於加入電話會議。
Additionally, a live and archived webcast of the conference call will also be available at the Company's website at: https://intchains.com/.
此外,電話會議的網絡直播和存檔直播也將在公司網站上播出,網址爲: https://intchains.com/。
About Intchains Group Limited
關於Intchains集團有限公司
Exchange Rate Information
匯率信息
Forward Looking Statements
前瞻性陳述
For investor and media inquiries, please contact:
投資者和媒體垂詢,請聯繫:
Intchains Group Limited
Investor relations
Email: [email protected]
Intchains集團有限公司
投資者關係
電子郵件: [電子郵件保護]
Piacente Financial Communications
皮亞森特金融通訊
In China
Helen Wu
Tel: +86-10-6508-0677
Email: [email protected]
在中國
吳海倫
電話:+86-10-6508-0677
電子郵件: [電子郵件保護]
In The United States
Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected]
在美國
布蘭迪·皮亞森特
電話:+1-212-481-2050
電子郵件: [電子郵件保護]
譯文內容由第三人軟體翻譯。