2022 Q4 Form 20-F Financial Statement

#000119312523123984 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $33.66M $473.7M $301.5M
YoY Change -88.83% -25.02% 2349.09%
Cost Of Revenue $19.99M $87.02M $66.41M
YoY Change -69.9% -23.64% 6534.17%
Gross Profit $13.67M $386.7M $235.1M
YoY Change -94.18% -25.33% 1978.68%
Gross Profit Margin 40.62% 81.63% 77.97%
Selling, General & Admin $2.771M $15.63M $10.12M
YoY Change -72.61% -9.66% 812.35%
% of Gross Profit 20.27% 4.04% 4.3%
Research & Development $9.958M $48.39M $27.47M
YoY Change -63.75% -8.2% 183.26%
% of Gross Profit 72.83% 12.51% 11.69%
Depreciation & Amortization $895.0K $1.807M $305.0K
YoY Change 193.44% 226.76% 208.08%
% of Gross Profit 6.55% 0.47% 0.13%
Operating Expenses $12.73M $64.01M $37.90M
YoY Change -66.41% -9.28% 247.45%
Operating Profit $944.0K $322.7M $197.2M
YoY Change -99.52% -27.86% 48833.75%
Interest Expense $3.387M $14.55M $1.130M
YoY Change 199.73% 598.66% -4808.33%
% of Operating Profit 358.79% 4.51% 0.57%
Other Income/Expense, Net $10.60M $29.80M $221.0K
YoY Change 4697.74% 3926.89% -71.85%
Pretax Income $14.93M $367.1M $198.6M
YoY Change -92.48% -18.46% 16957.9%
Income Tax $2.281M $11.86M $0.00
% Of Pretax Income 15.27% 3.23% 0.0%
Net Earnings $12.65M $355.2M $198.6M
YoY Change -93.63% -21.09% 16957.9%
Net Earnings / Revenue 37.59% 74.98% 65.85%
Basic Earnings Per Share $3.02
Diluted Earnings Per Share $0.11 $3.02 $1.66
COMMON SHARES
Basic Shares Outstanding 117.6M 117.6M
Diluted Shares Outstanding 117.6M

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $712.2M $712.2M
YoY Change 41.76%
Cash & Equivalents $712.2M $712.2M $502.4M
Short-Term Investments
Other Short-Term Assets $41.97M $41.97M
YoY Change 10.08%
Inventory $77.78M $77.78M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $832.0M $832.0M $607.4M
YoY Change 36.98% 36.98%
LONG-TERM ASSETS
Property, Plant & Equipment $8.294M $8.294M $1.623M
YoY Change 411.03% 112.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $112.9M $112.9M
YoY Change
Total Long-Term Assets $121.2M $121.2M $3.898M
YoY Change 3008.0% 3008.0%
TOTAL ASSETS
Total Short-Term Assets $832.0M $832.0M $607.4M
Total Long-Term Assets $121.2M $121.2M $3.898M
Total Assets $953.1M $953.1M $611.3M
YoY Change 55.93% 55.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.903M $2.903M $6.583M
YoY Change -55.9% -55.9%
Accrued Expenses $13.83M $13.83M
YoY Change 38.66%
Deferred Revenue $6.000K $3.002M
YoY Change -99.8%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.20M $19.20M $31.60M
YoY Change -39.24% -39.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $294.0K $294.0K
YoY Change -76.8%
Total Long-Term Liabilities $294.0K $294.0K $1.267M
YoY Change -76.8% -76.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.20M $19.20M $31.60M
Total Long-Term Liabilities $294.0K $294.0K $1.267M
Total Liabilities $19.53M $19.53M $32.86M
YoY Change -40.56% -40.56%
SHAREHOLDERS EQUITY
Retained Earnings $107.5M $390.1M
YoY Change -72.44%
Common Stock $20.96M $144.6M
YoY Change -85.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $933.6M $933.6M $578.4M
YoY Change
Total Liabilities & Shareholders Equity $953.1M $953.1M $611.3M
YoY Change 55.93% 55.93%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income $12.65M $355.2M $198.6M
YoY Change -93.63% -21.09% 16957.9%
Depreciation, Depletion And Amortization $895.0K $1.807M $305.0K
YoY Change 193.44% 226.76% 208.08%
Cash From Operating Activities $10.48M $47.37M $175.1M
YoY Change -94.02% -88.02% 4383.69%
INVESTING ACTIVITIES
Capital Expenditures $1.350M $583.0K $700.0K
YoY Change 92.86% -67.06% 3584.21%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$112.9M
YoY Change
Cash From Investing Activities -$1.350M -$16.95M -$700.0K
YoY Change 92.86% 857.4% 3584.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $100.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 85.04M
YoY Change -100.0% -100.0% -2220.8%
NET CHANGE
Cash From Operating Activities 10.48M 47.37M 175.1M
Cash From Investing Activities -1.350M -16.95M -700.0K
Cash From Financing Activities 0.000 0.000 85.04M
Net Change In Cash 9.126M 30.42M 259.4M
YoY Change -96.48% -93.7% -209319.35%
FREE CASH FLOW
Cash From Operating Activities $10.48M $47.37M $175.1M
Capital Expenditures $1.350M $583.0K $700.0K
Free Cash Flow $9.126M $46.78M $174.4M
YoY Change -94.77% -88.12% 4387.6%

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CY2020 icg Proceeds From Capital Contributed By Shareholder For Reorganization
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CY2021 icg Proceeds From Capital Contributed By Shareholder For Reorganization
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CY2022 icg Proceeds From Capital Contributed By Shareholder For Reorganization
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CY2022 icg Proceeds From Capital Contributed By Shareholder For Reorganization
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CY2020 us-gaap Payments Of Capital Distribution
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CY2021 us-gaap Payments Of Capital Distribution
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CY2022 us-gaap Payments Of Capital Distribution
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CY2022 us-gaap Payments Of Capital Distribution
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CY2020 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2020 us-gaap Repayments Of Related Party Debt
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CY2021 us-gaap Repayments Of Related Party Debt
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CY2022 us-gaap Repayments Of Related Party Debt
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CY2022 us-gaap Repayments Of Related Party Debt
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Nature Of Operations
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<table cellpadding="0" cellspacing="0" style="border: 0px currentcolor; width: 100%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top;;text-align:left;"><div style="display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></div></td> <td style="vertical-align: top;;text-align:left;"><div style="text-align: left; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Organization and principal activities </div></div></div></div></td></tr></table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="border: 0px currentcolor; width: 100%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%;"><div style="display:inline;"> </div></td> <td style="width: 5%; vertical-align: top;;text-align:left;"><div style="display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">(a)</div></div></div></div></div></td> <td style="vertical-align: top;;text-align:left;"><div style="text-align: left; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Principal activities </div></div></div></div></div></td></tr></table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;;text-indent: 0px;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Intchains Group Limited (the “Company” or “Parent Company”), an exempted company with limited liability incorporated in the Cayman Islands and its subsidiaries are collectively referred to as the “Group”. The Group are principally engaged in integrated circuit (the “IC”) design and sale of application-specific IC (the “ASIC”) chips and the solution based on these chips in the People’s Republic of China (the “PRC”). </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;;text-indent: 0px;"><div style="display:inline;">Intchains DQ Asset Holding Limited and Intchains SCH Holding Limited, limited liability companies incorporated in the British Virgin Islands (the “BVI”), are the ultimate holding companies of the Company and are owned by Mr. Qiang Ding (“Mr. Ding”) and Mr. Chaohua Sheng (“Mr. Sheng”). Mr. Ding and Mr. Sheng are the ultimate controlling shareholders (collectively, the “Controlling Shareholders” or the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">“Co-Founders”)</div> of the Company. </div></div> <div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;;text-indent: 0px;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As at the date of this report, the Company had direct and indirect interests in its subsidiaries, all of which are private limited liability companies, the particulars of which are set out below: </div></div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="margin: 0px auto; border: 0px currentcolor; width: 92%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="font-size: 0px;"> <td style="width: 37%;"/> <td style="width: 2%; vertical-align: bottom;"/> <td/> <td/> <td/> <td style="width: 2%; vertical-align: bottom;"/> <td/> <td/> <td/> <td style="width: 2%; vertical-align: bottom;"/> <td/> <td/> <td/> <td style="width: 1%; vertical-align: bottom;"/> <td style="width: 24%;"/></tr> <tr style="font-family: Times New Roman; font-size: 8pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;">  </div></td> <td colspan="2" style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Date of</div></div><br/><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">incorporation</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;">  </div></td> <td colspan="2" style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Place of</div></div><br/><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">incorporation</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;">  </div></td> <td colspan="2" style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Equity</div></div><br/><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">interest</div></div><br/><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">held</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;"><div style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;"><div style="display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;">Principal activities</div></div></div></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="display:inline;"><div style="font-weight:bold;display:inline;"><div style="text-decoration: underline; letter-spacing: 0px; top: 0px;;display:inline;">Name of subsidiaries</div></div></div></div></td> <td style="vertical-align: bottom;"><div style="display:inline;">  </div></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;">  </div></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;">  </div></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td> <td style="vertical-align: bottom;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="display:inline;"/></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Intchains Global Limited</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">October 29, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">The BVI</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Investment Holding</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Intchains Pte. Ltd.</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">November 17, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Singapore</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Research and development of ICs</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Intchains Investment (BVI) Limited</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">July 1, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">The BVI</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Investment Holding</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Intchains Technology (Hongkong) Limited</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">July 16, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Hong Kong</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align: bottom; white-space: nowrap;"><div style="margin-left: 0in;">Investment Holding and Trading business</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Jerryken Intelligent Technology (Shanghai) Co., Ltd.</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">September 28, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Shanghai, China</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap"><div style="margin-left: 0in;">Research and development of ICs</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Shanghai Intchains Technology Co., Ltd.</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">December 13, 2017</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Shanghai, China</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Research and development of ICs</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Shanghai Lianfa Information Technology Co., Ltd.</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">September 9, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Shanghai, China</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Research and development of ICs</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Shanghai Xinbaiwei Smart Technology Co., Ltd.</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">October 22, 2021</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Shanghai, China</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Research and development of ICs</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Yancheng Intchains Technology Co., Ltd.*</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">July 19, 2019</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Yancheng, China</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Research and development of ICs</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: &quot;Times New Roman&quot;; line-height: normal;">Shanghai Intchains Technology (Hong Kong) Company Limited.*</div></td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">August 2, 2018</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom">Hong Kong</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom">  </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">100</td> <td style="white-space:nowrap;vertical-align:bottom">% </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;white-space:nowrap">Trading business</td></tr></table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"/> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="border: 0px currentcolor; width: 100%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:2%;vertical-align:top;text-align:left;">*</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; line-height: normal;">Yancheng Intchains Technology Co., Ltd. was <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">de-registered</div> on September 17, 2021. Shanghai Intchains Technology (Hong Kong) Company Limited was transferred to an independent third party with consideration of RMB10,000 on August 19, 2021, the disposal loss was immaterial. </div></td></tr></table> <div style="clear:both;max-height:0pt;"/><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt;"><div style="display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: 'Times New Roman'; text-align: center;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div></div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">(b)</div></div></div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Reorganization and stock subdivision </div></div></div></div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Prior to the incorporation of the Company, the Group’s business was carried out by Shanghai Intchains Technology Co., Ltd. (“Shanghai Intchains”) and its subsidiaries. Shanghai Intchains was established by the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Co-Founders</div> and other minor shareholders. Yancheng Intchains Technology Co., Ltd. and Shanghai Intchains Technology (Hong Kong) Company Limited were then subsidiaries of Shanghai Intchains. To facilitate offshore financing, an offshore corporate structure was formed in December 2021 (the “Reorganization”), which was carried out as follows: </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">1) On June 28, 2021, the Company was incorporated in the Cayman Islands by the Controlling Shareholders and other minor shareholders of Shanghai Intchains*. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">2) On July 1, 2021, Intchains Investment (BVI) Limited was incorporated in the BVI. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">3) On July 16, 2021. Intchains Technology (Hongkong) Limited was incorporated in Hong Kong. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4) On September 9, 2021, Shanghai Lianfa Information Technology Co., Ltd. was incorporated in Shanghai, the PRC. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">5) On September 28, 2021, Jerryken Intelligent Technology (Shanghai) Co., Ltd. (“Jerryken Shanghai”) was incorporated in Shanghai, the PRC. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">6) On October 9, 2021, Golden Stone Hong Kong Holding Limited (“Golden Stone HK”), a Hong Kong company wholly-owned by an independent third party, acquired a 1% equity interest in Shanghai Intchains at a consideration of US$94,192. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">7) On October 22, 2021, Shanghai Xinbaiwei Smart Technology Co., Ltd. was incorporated in Shanghai, the PRC. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">8) On October 29, 2021, Intchains Global Limited was incorporated in the BVI. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">9) On November 2, 2021, Jerryken Shanghai acquired approximately 82.49% equity interest in Shanghai Intchains at a consideration of RMB 49.4949 million. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">10) On December 6, 2021, Jerryken Shanghai acquired the 0.18% equity interest in Shanghai Intchains from Golden Stone HK at a cash consideration of RMB 0.1055 million and the remaining 17.33% equity interest in Shanghai Intchains from its other shareholders at an aggregate cash consideration of RMB 10.4375 million, which was recorded as deemed distribution to these shareholders. Shanghai Intchains then became a wholly-owned subsidiary of Jerryken Shanghai. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">11) On July 8, 2022, the Company effected 100 for 1 stock subdivision. </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: &quot;Times New Roman&quot;; font-size: 10pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:2%;vertical-align:top;text-align:left;">*</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;">As the shareholdings in the Company and Shanghai Intchains were with a high degree of common ownership immediately before and after the Reorganization, even though no single investor controlled the Group, the transaction of the Reorganization was determined as recapitalization with lack of economic substance, and was accounted for in a manner similar to a common control transaction. Consequently, the financial information of the Group is presented on a carryover basis for all periods presented. The accompanying consolidated financial statements have been prepared as if the current corporate structure has been in existence throughout the periods presented. The consolidation of the Company has been accounted for at historical cost at the beginning of the first period presented in the accompanying consolidated financial statements. The number of outstanding shares in the consolidated balance sheets, the consolidated statements of changes in shareholders’ equity, and per share information including the net (losses)/earnings per share have been presented retrospectively as of the beginning off the earliest period presented on the consolidated financial statements to reflect the final shares immediately after the stock subdivision on July 8, 2022. </div></td></tr></table>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">(c)</div></div></div></div></td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of estimates </div></div></div></div> </td> </tr> </table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The preparation of the Group’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from such estimates. </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company believes that accounting estimation of inventory provision, recoverability of prepayments to vendors, recoverability of prepayments on long-term assets, deferred tax assets and provision for product warranty reflect significant judgments and estimates used in the preparation of its consolidated financial statements. </div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could materially differ from these estimates. </div>
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3002000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6000
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5737000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3002000
CY2021Q4 us-gaap Inventory Gross
InventoryGross
66818000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
79160000
CY2021Q4 icg Amount Of Inventory Reserves For Weighted Average Method And Other Inventory Valuation Methods
AmountOfInventoryReservesForWeightedAverageMethodAndOtherInventoryValuationMethods
0
CY2022Q4 icg Amount Of Inventory Reserves For Weighted Average Method And Other Inventory Valuation Methods
AmountOfInventoryReservesForWeightedAverageMethodAndOtherInventoryValuationMethods
1378000
CY2021Q4 icg Current Inventories Valued At Lower Of Cost Or Net Realizable Value
CurrentInventoriesValuedAtLowerOfCostOrNetRealizableValue
66818000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
686000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2748000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
5755000
CY2020 icg Appropriations For General Reserve Funds And Statutory Surplus Fund
AppropriationsForGeneralReserveFundsAndStatutorySurplusFund
0
CY2021 icg Appropriations For General Reserve Funds And Statutory Surplus Fund
AppropriationsForGeneralReserveFundsAndStatutorySurplusFund
43674000
CY2022 icg Appropriations For General Reserve Funds And Statutory Surplus Fund
AppropriationsForGeneralReserveFundsAndStatutorySurplusFund
3804000
CY2022 icg Weighted Number Of Potentially Diluted Shares Outstanding
WeightedNumberOfPotentiallyDilutedSharesOutstanding
0
CY2020 icg Weighted Number Of Potentially Diluted Shares Outstanding
WeightedNumberOfPotentiallyDilutedSharesOutstanding
0
CY2021 icg Weighted Number Of Potentially Diluted Shares Outstanding
WeightedNumberOfPotentiallyDilutedSharesOutstanding
0
CY2022Q4 icg Current Inventories Valued At Lower Of Cost Or Net Realizable Value
CurrentInventoriesValuedAtLowerOfCostOrNetRealizableValue
77782000
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
1378000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
502420000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
712231000
CY2021Q4 icg Inventory Finished Goods Gross
InventoryFinishedGoodsGross
42638000
CY2022Q4 icg Inventory Finished Goods Gross
InventoryFinishedGoodsGross
34577000
CY2021Q4 icg Inventory Work In Process Gross
InventoryWorkInProcessGross
5833000
CY2022Q4 icg Inventory Work In Process Gross
InventoryWorkInProcessGross
10399000
CY2021Q4 icg Inventory Raw Materials Gross
InventoryRawMaterialsGross
18347000
CY2022Q4 icg Inventory Raw Materials Gross
InventoryRawMaterialsGross
34184000
CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
0
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2262000
CY2021Q4 us-gaap Supplies
Supplies
31590000
CY2022Q4 us-gaap Supplies
Supplies
20220000
CY2021Q4 icg Prepayments Of Listing Expenses Current
PrepaymentsOfListingExpensesCurrent
6288000
CY2022Q4 icg Prepayments Of Listing Expenses Current
PrepaymentsOfListingExpensesCurrent
17970000
CY2021Q4 us-gaap Interest Receivable
InterestReceivable
0
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
1200000
CY2021Q4 us-gaap Prepaid Rent
PrepaidRent
72000
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
72000
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
174000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
244000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
38124000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
41968000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3250000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10399000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1627000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3434000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1623000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6965000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
358000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
553000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1807000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
329000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
801000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
946000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
84000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
73000
CY2020 icg Short Term Lease Expenses
ShortTermLeaseExpenses
-308000
CY2021 icg Short Term Lease Expenses
ShortTermLeaseExpenses
-156000
CY2022 icg Short Term Lease Expenses
ShortTermLeaseExpenses
153000
CY2020 us-gaap Lease Cost
LeaseCost
644000
CY2021 us-gaap Lease Cost
LeaseCost
1041000
CY2022 us-gaap Lease Cost
LeaseCost
866000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
336000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
885000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1008000
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10M15D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P30M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P18M16D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1007000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
300000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1307000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
41000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1266000
CY2021Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
0
CY2022Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
112856000
CY2021Q4 us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
112855500
CY2021Q4 icg Aggregate Amount Of Taxes Payment
AggregateAmountOfTaxesPayment
50000000
CY2022Q4 icg Other Taxes Payable In Phases
OtherTaxesPayableInPhases
50000000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3810000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3616000
CY2021Q4 icg Other Tax Payables
OtherTaxPayables
8515000
CY2022Q4 icg Other Tax Payables
OtherTaxPayables
350000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2520000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
0
CY2021Q4 icg Accrued Listing Expenses
AccruedListingExpenses
5228000
CY2022Q4 icg Accrued Listing Expenses
AccruedListingExpenses
4963000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
542000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3926000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
20615000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
12855000
CY2021Q2 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
50000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1000000
CY2021Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.0001
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
100
CY2022Q3 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
100
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
117647000
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
117647000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
CY2022Q3 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each Class A Ordinary Share shall be entitled to one (1) vote on all matters subject to the vote at general meetings of the Company, and each Class B Ordinary Share shall be entitled to ten (10) votes on all matters subject to the vote at general meetings of the Company.
CY2020 us-gaap Other Income
OtherIncome
2495000
CY2021 us-gaap Other Income
OtherIncome
740000
CY2022 us-gaap Other Income
OtherIncome
29799000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.0006
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.0001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.0001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.6414
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.0222
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.0264
CY2020 icg Effective Income Tax Rate Reconciliation Benefit From Tax Losses And Temporary Differences Utilized Percent
EffectiveIncomeTaxRateReconciliationBenefitFromTaxLossesAndTemporaryDifferencesUtilizedPercent
0
CY2021 icg Effective Income Tax Rate Reconciliation Benefit From Tax Losses And Temporary Differences Utilized Percent
EffectiveIncomeTaxRateReconciliationBenefitFromTaxLossesAndTemporaryDifferencesUtilizedPercent
0
CY2022 icg Effective Income Tax Rate Reconciliation Benefit From Tax Losses And Temporary Differences Utilized Percent
EffectiveIncomeTaxRateReconciliationBenefitFromTaxLossesAndTemporaryDifferencesUtilizedPercent
-0.0081
CY2020 icg Effective Income Tax Rate Reconciliation Effect Of Tax Incentive Percent
EffectiveIncomeTaxRateReconciliationEffectOfTaxIncentivePercent
0.3908
CY2021 icg Effective Income Tax Rate Reconciliation Effect Of Tax Incentive Percent
EffectiveIncomeTaxRateReconciliationEffectOfTaxIncentivePercent
-0.2279
CY2022 icg Effective Income Tax Rate Reconciliation Effect Of Tax Incentive Percent
EffectiveIncomeTaxRateReconciliationEffectOfTaxIncentivePercent
-0.1834
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0322
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11814000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
42000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11856000
CY2021Q4 icg Deductible Temporary Differences For Which No Deferred Tax Asset Is Recognized
DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognized
7828000
CY2022Q4 icg Deductible Temporary Differences For Which No Deferred Tax Asset Is Recognized
DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognized
-279000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
80000
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
207000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
33000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
320000
CY2022Q4 icg Deferred Tax Liabilities Accelerated Tax Depreciation
DeferredTaxLiabilitiesAcceleratedTaxDepreciation
362000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
362000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-42000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
42000
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
CY2021Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
CY2022Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
CY2021Q4 us-gaap Due From Related Parties
DueFromRelatedParties
CY2022Q4 us-gaap Due From Related Parties
DueFromRelatedParties
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
8247000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
450144000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
355201000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100000000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100000000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100870300
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100870300
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117647000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117647000
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.46
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.02
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.46
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.02
CY2021Q4 us-gaap Other Commitment
OtherCommitment
0
CY2022Q4 us-gaap Other Commitment
OtherCommitment
0
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
117647000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
117647000
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
117647000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
117647000

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