The following is a summary of the Intchains Group Limited (ICG) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Intchains reported a significant rebound in Q4 with a sequential revenue growth of 418%, after a full year revenue decrease of 83% for 2023 due to market volatility.

• Q4 revenue reached RMB75.5 million ($5 million), a year-on-year increase of 5.3%, fueled primarily by one-off sales of its intelligent router products.

• The cost of revenue decreased by 29.3% year-on-year, predominantly due to the sales of WEB3 intelligent router products, while operating expenses in Q4 rose by 79% year-on-year due to increases in all operating expense categories.

• The company reported a net income for Q4 of RMB8.1 million ($1.1 million).

Business Progress:

• Intchains listed on the NASDAQ and marked its official entry into downstream mining machine production and sales via the acquisition of the Goldshell brand during 2023.

• The successful completion of IC verification and the trial production processes of the latest 12 nanometer process chip took place in 2023. New mining machine products are expected to be officially launched in Q2 2024 based on this advancement.

• The company is set to release its first product and associated chip product as part of their privacy computing applications in WEB3 in 2024.

• Despite uncertainties, Intchains plans to expand investments in the cryptocurrency value chain in 2024, with a target for higher returns through development opportunities, and has plans to hike investment in R&D, with multiple projects related to the 12 nanometer process node technology currently underway.

More details: Intchains Group IR

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