Intchains Group Limited
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- The blockchain industry experienced challenges in 2023 and uncertainties in the market had negatively impacted our business performance. Our total revenue decreased from RMB631.8 million in 2021 to RMB473.7 million (US$68.7 million) in 2022 and further decreased to RMB82.2 million (US$11.6 million) in 2023. Our net income decreased from RMB450.1 million in 2021 to RMB355.2 million in 2022. We recorded a net loss of RMB26.8 million (US$3.8 million) in 2023.
Mitigation Strategies
- We maintain our confidence in our business strategy and long-term prospects, particularly as the broad market has shown signs of recovery in the fourth quarter of 2023. Our strong commitment to advanced research and development enables us to continuously innovate and create ASIC chips with superior performance to power ratio at reasonable cost. Our latest ASIC chip, designed and manufactured using a 12nm process node, completed the relevant IC verification and trial production processes in February 2024 and is set to enter mass production in March 2024. In addition, we initiated our business expansion in Singapore in 2023 by dispatching members of senior management to station in Singapore and entering dialogues with potential local distributors for cooperation. In December 2023, we entered into an asset acquisition agreement with a Singapore-based company to purchase certain assets used in the operation of its Goldshell WEB3 infrastructure brand with the aim of enabling us to enter the downstream production and sales sector across computing equipment for blockchain applications and other WEB3 infrastructure-related hardware and software products. We completed such acquisition in February 2024.