The following is a summary of the Intchains Group Limited (ICG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Intchains reported a decrease in Q1 2024 revenue of 6.8% to $3.4 million due to a one-off sale in the previous year.

• The cost of revenue escalated by 15.2% primarily due to an inventory write-down for certain products.

• A dramatic rise of 168.3% in total operating expenses occurred, attributed to increased R&D, sales, marketing, and administrative costs.

• The company ended Q1 with a net loss of $2.1 million, standing in stark contrast to the net income of RMB4.7 million from 2023's same quarter.

Business Progress:

• The first quarter saw Intchains integrating their latest 12-nanometer chip technology which signifies progress in their product development.

• The upcoming Box series product, set to go into full-scale production by Q2, denotes step-forward in the product line.

• Reflecting strategic foresight, the company plans to invest more in ETH-based cryptocurrencies as a long-term asset.

• Focusing on the development of asset chips and computing equipment for ZKP, FHE, and AI confirms their ambition to cater to the growing market demand.

• The stated intent to explore more areas of WEB3 applications and expand their product line suggests a robust business strategy.

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