2023 Q4 Form 20-F Financial Statement

#000119312524070138 Filed on March 18, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $35.45M $82.23M $473.7M
YoY Change 5.32% -82.64% -25.02%
Cost Of Revenue $14.13M $10.30M $87.02M
YoY Change -29.31% -88.16% -23.64%
Gross Profit $21.32M $1.279M $386.7M
YoY Change 55.94% -99.67% -25.33%
Gross Profit Margin 60.14% 1.56% 81.63%
Selling, General & Admin $8.827M $4.471M $15.63M
YoY Change 218.55% -71.39% -9.66%
% of Gross Profit 41.4% 349.57% 4.04%
Research & Development $13.96M $5.958M $48.39M
YoY Change 40.21% -87.69% -8.2%
% of Gross Profit 65.48% 465.83% 12.51%
Depreciation & Amortization $3.830M $1.807M
YoY Change 111.95% 226.76%
% of Gross Profit 299.45% 0.47%
Operating Expenses $22.79M $10.43M $64.01M
YoY Change 79.03% -83.71% -9.28%
Operating Profit -$1.467M -$9.150M $322.7M
YoY Change -255.4% -102.84% -27.86%
Interest Expense $3.299M $16.23M $14.55M
YoY Change -2.6% 11.5% 598.66%
% of Operating Profit 4.51%
Other Income/Expense, Net $7.436M $13.19M $29.80M
YoY Change -29.87% -55.73% 3926.89%
Pretax Income $9.268M -$5.009M $367.1M
YoY Change -37.94% -101.36% -18.46%
Income Tax $1.190M -$8.756M $11.86M
% Of Pretax Income 12.84% 3.23%
Net Earnings $8.078M -$3.776M $355.2M
YoY Change -36.16% -101.06% -21.09%
Net Earnings / Revenue 22.78% -4.59% 74.98%
Basic Earnings Per Share -$0.22 $3.02
Diluted Earnings Per Share $0.07 -$0.22 $3.02
COMMON SHARES
Basic Shares Outstanding 119.9M 119.4M 117.6M
Diluted Shares Outstanding 119.4M 117.6M

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $708.3M $708.3M $712.2M
YoY Change -0.55% -0.55% 41.76%
Cash & Equivalents $694.8M $694.8M $712.2M
Short-Term Investments $13.60M $13.60M
Other Short-Term Assets $47.40M $37.56M $41.97M
YoY Change 12.95% -10.51% 10.08%
Inventory $41.77M $41.77M $77.78M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $112.3M $797.5M $832.0M
YoY Change -86.5% -4.14% 36.98%
LONG-TERM ASSETS
Property, Plant & Equipment $49.18M $50.92M $8.294M
YoY Change 493.01% 513.93% 112.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $645.0K $645.0K
YoY Change
Other Assets $59.00K $126.7M $112.9M
YoY Change -99.95% 12.31%
Total Long-Term Assets $25.60M $181.7M $121.2M
YoY Change -78.87% 50.01% 3008.0%
TOTAL ASSETS
Total Short-Term Assets $112.3M $797.5M $832.0M
Total Long-Term Assets $25.60M $181.7M $121.2M
Total Assets $137.9M $979.3M $953.1M
YoY Change -85.53% 2.74% 55.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.00K $195.0K $2.903M
YoY Change -99.07% -93.28% -55.9%
Accrued Expenses $16.47M $10.02M $13.83M
YoY Change 19.09% -27.55% 38.66%
Deferred Revenue $9.828M
YoY Change 163700.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.967M $28.16M $19.20M
YoY Change -79.34% 46.7% -39.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $761.0K $761.0K $294.0K
YoY Change 158.84% 158.84% -76.8%
Total Long-Term Liabilities $107.0K $761.0K $294.0K
YoY Change -63.61% 158.84% -76.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.967M $28.16M $19.20M
Total Long-Term Liabilities $107.0K $761.0K $294.0K
Total Liabilities $4.074M $28.93M $19.53M
YoY Change -79.14% 48.08% -40.56%
SHAREHOLDERS EQUITY
Retained Earnings $100.6M
YoY Change -6.47%
Common Stock $26.24M
YoY Change 25.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $950.3M $950.3M $933.6M
YoY Change
Total Liabilities & Shareholders Equity $137.9M $979.3M $953.1M
YoY Change -85.53% 2.74% 55.93%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income $8.078M -$3.776M $355.2M
YoY Change -36.16% -101.06% -21.09%
Depreciation, Depletion And Amortization $3.830M $1.807M
YoY Change 111.95% 226.76%
Cash From Operating Activities -$665.0K $47.37M
YoY Change -101.4% -88.02%
INVESTING ACTIVITIES
Capital Expenditures $6.605M $583.0K
YoY Change 1032.93% -67.06%
Acquisitions
YoY Change
Other Investing Activities -$14.66M -$112.9M
YoY Change -87.01%
Cash From Investing Activities -$9.152M -$16.95M
YoY Change -45.99% 857.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.636M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.215M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -665.0K 47.37M
Cash From Investing Activities -9.152M -16.95M
Cash From Financing Activities 7.215M 0.000
Net Change In Cash -2.602M 30.42M
YoY Change -108.55% -93.7%
FREE CASH FLOW
Cash From Operating Activities -$665.0K $47.37M
Capital Expenditures $6.605M $583.0K
Free Cash Flow -$7.270M $46.78M
YoY Change -115.54% -88.12%

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CY2023 icg Provision For Inventories
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CY2023 icg Write Down Of Prepayments
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CY2023 icg Increase Decrease In Provision For Warranty
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CY2023 icg Increase Decrease In Provision For Warranty
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CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2023 icg Payments To Acquire Cryptocurrency
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 icg Cash Paid For Guarantee Fee
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CY2023 us-gaap Income Taxes Paid Net
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CY2023 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2023 us-gaap Nature Of Operations
NatureOfOperations
<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%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</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;">Organization and principal activities </div></div></td></tr></table><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <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: italic; letter-spacing: 0px; top: 0px;;display:inline;">(a)</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: italic; letter-spacing: 0px; top: 0px;;display:inline;">Principal activities </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">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 style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">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 style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">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 style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:92%;border:0;margin:0 auto"> <tr> <td style="width:37%"></td> <td style="vertical-align:bottom;width:2%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:24%"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Date of<br/> incorporation</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Place of<br/> incorporation</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Equity<br/> interest<br/> held</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: &quot;Times New Roman&quot;; text-align: center; line-height: normal;"><div style="font-weight:bold;display:inline;">Principal activities</div></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;"><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></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom">  </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"></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">Investment Holding and Trading business</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">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 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> <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 Capital 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">May 17, 2023</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">Cayman Islands</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></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div> <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: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;">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="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div> <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: italic; letter-spacing: 0px; top: 0px;;display:inline;">(b)</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: italic; letter-spacing: 0px; top: 0px;;display:inline;">Reorganization and stock subdivision </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 <div style="-sec-ix-hidden:hidden105510825;display:inline;"><div style="display:inline;">100</div> for <div style="display:inline;">1</div></div> stock subdivision. </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <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: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>
CY2023 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="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Group believes that accounting estimation of recoverability of prepayments to vendors, recoverability of prepayments on long-term assets, impairment on other long-lived assets, valuation of deferred tax assets, write-down for inventories and prepayments, valuation and recognition of share-based compensation 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>
CY2022Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
6.9646
CY2023Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
7.0827
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3002000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
9828000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2748000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
5755000
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
8291000
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
CY2023 icg Appropriations For General Reserve Funds And Statutory Surplus Fund
AppropriationsForGeneralReserveFundsAndStatutorySurplusFund
787000
CY2022 icg Weighted Number Of Potentially Diluted Shares Outstanding
WeightedNumberOfPotentiallyDilutedSharesOutstanding
0
CY2023 icg Weighted Number Of Potentially Diluted Shares Outstanding
WeightedNumberOfPotentiallyDilutedSharesOutstanding
0
CY2021 icg Weighted Number Of Potentially Diluted Shares Outstanding
WeightedNumberOfPotentiallyDilutedSharesOutstanding
0
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<table cellpadding="0" cellspacing="0" style="border: 0px currentColor; border-image: none; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse;;text-indent: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"></div></td> <td style="width: 5%; vertical-align: top;;text-align:left;"><div style="letter-spacing: 0px; top: 0px;;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;">(ad)</div></div></div></div></div></td> <td style="vertical-align: top;;text-align:left;"> <div style="text-align: left; font-family: Times New Roman; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-style: italic;;display:inline;">Reclassification of Presentation in the Group’s Consolidated Statements of Operations and Comprehensive Income/(Loss) and Consolidated Statements of Cash Flows </div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;;text-indent: 0px;"></div> <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;"></div></div> <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;;text-indent: 0px;;display:inline;"></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;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">To optimize the financial reporting process, other income and interest expense and guarantee fee of comparative prior period in the Group’s Consolidated Statements of Operations and Comprehensive Income/(Loss) were reclassified to conform with its current presentation of other income, net in the Group’s Consolidated Statements of Operations and Comprehensive Income/(Loss). In the Group’s Consolidated Statements of Operations and Comprehensive Income/(Loss) for the years ended December 31, 2021 and 2022, we have </div></div><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;;text-indent: 0px;;display:inline;"> reclassified (1) </div><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">RMB197,000 and RMB73,000 </div></div><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;;text-indent: 0px;;display:inline;">respectively of interest expense and guarantee fee to other income, net; and (2)<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">RMB740,000 and RMB29,799,000 </div></div><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;">respectively of </div></div><div style="letter-spacing: 0px; top: 0px;;display:inline;"></div><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;"> other income to other income, net. The net income/(loss) and total comprehensive income/(loss) for the year ended December 31, 2021 and 2022 were not changed as a result of these reclassifications. Refer to Note 16 for further information on other income, net. </div></div></div> <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;"></div></div> <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;"></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;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Amortization of right-of-use assets and (decrease) in lease liabilities of comparative prior period in the Group’s Consolidated Statements of Cash Flows were reclassified to conform with its current presentation of change in right-of-use assets and lease liabilities in the Group’s Consolidated Statements of Cash Flows. In the Group’s Consolidated Statements of Cash Flows for the years ended December 31, 2021 and 2022, we have reclassified </div></div><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;"> (1) RMB<div style="letter-spacing: 0px; top: 0px;;display:inline;">801,000</div> and RMB<div style="letter-spacing: 0px; top: 0px;;display:inline;">946,000</div> </div></div><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;">respectively of amortization of right-of-use assets to change in right-of-use assets and lease liabilities; and (2) </div></div><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;">RMB<div style="letter-spacing: 0px; top: 0px;;display:inline;">875,000</div> and RMB<div style="letter-spacing: 0px; top: 0px;;display:inline;">935,000</div> </div></div><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;">respectively of (decrease) in lease liabilities to change in right of-use assets and lease liabilities. The net cash provided by/(used in) operating activities for the years ended December 31, 2021 and 2022 were not changed as a result of these reclassifications. </div></div></div> <div style="letter-spacing: 0px; top: 0px; background: none;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;;display:inline;"> </div></div>
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
801000
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
946000
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
875000
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
935000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
712231000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
694750000
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
72000
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
102000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
244000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
214000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
41968000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
47403000
CY2021 icg Write Down Of Prepayments
WriteDownOfPrepayments
0
CY2022 icg Write Down Of Prepayments
WriteDownOfPrepayments
0
CY2023 icg Write Down Of Prepayments
WriteDownOfPrepayments
141000
CY2022Q4 icg Inventory Finished Goods Gross
InventoryFinishedGoodsGross
34577000
CY2023Q4 icg Inventory Finished Goods Gross
InventoryFinishedGoodsGross
36224000
CY2022Q4 icg Inventory Work In Process Gross
InventoryWorkInProcessGross
10399000
CY2023Q4 icg Inventory Work In Process Gross
InventoryWorkInProcessGross
9756000
CY2022Q4 icg Inventory Raw Materials Gross
InventoryRawMaterialsGross
34184000
CY2023Q4 icg Inventory Raw Materials Gross
InventoryRawMaterialsGross
20686000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
79160000
CY2023Q4 us-gaap Inventory Gross
InventoryGross
66666000
CY2022Q4 icg Amount Of Inventory Reserves For Weighted Average Method And Other Inventory Valuation Methods
AmountOfInventoryReservesForWeightedAverageMethodAndOtherInventoryValuationMethods
1378000
CY2023Q4 icg Amount Of Inventory Reserves For Weighted Average Method And Other Inventory Valuation Methods
AmountOfInventoryReservesForWeightedAverageMethodAndOtherInventoryValuationMethods
24899000
CY2022Q4 icg Current Inventories Valued At Lower Of Cost Or Net Realizable Value
CurrentInventoriesValuedAtLowerOfCostOrNetRealizableValue
77782000
CY2023Q4 icg Current Inventories Valued At Lower Of Cost Or Net Realizable Value
CurrentInventoriesValuedAtLowerOfCostOrNetRealizableValue
41767000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
0
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
1378000
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
24574000
CY2023 icg Additional Inventory Write Down
AdditionalInventoryWriteDown
1053000
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2262000
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
3989000
CY2022Q4 us-gaap Supplies
Supplies
20220000
CY2023Q4 us-gaap Supplies
Supplies
33254000
CY2022Q4 icg Prepayments Of Listing Expenses Current
PrepaymentsOfListingExpensesCurrent
17970000
CY2023Q4 icg Prepayments Of Listing Expenses Current
PrepaymentsOfListingExpensesCurrent
0
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
1200000
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
9844000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10399000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
55481000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3434000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6297000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6965000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
49184000
CY2023 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
971000
CY2023 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1
967000
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-4000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
553000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1807000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3830000
CY2023 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
550000
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
381000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
381000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
381000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
381000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1901000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3425000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
801000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
946000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1103000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
84000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
73000
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
62000
CY2021 icg Short Term Lease Expenses
ShortTermLeaseExpenses
156000
CY2022 icg Short Term Lease Expenses
ShortTermLeaseExpenses
-153000
CY2023 icg Short Term Lease Expenses
ShortTermLeaseExpenses
1075000
CY2021 us-gaap Lease Cost
LeaseCost
1041000
CY2022 us-gaap Lease Cost
LeaseCost
866000
CY2023 us-gaap Lease Cost
LeaseCost
2240000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
885000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1008000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1050000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2213000
CY2021 icg Operating Lease Liability Settled
OperatingLeaseLiabilitySettled
0
CY2022 icg Operating Lease Liability Settled
OperatingLeaseLiabilitySettled
0
CY2023 icg Operating Lease Liability Settled
OperatingLeaseLiabilitySettled
627000
CY2021 icg Right Of Use Assets Operating Lease Lease Terminated
RightOfUseAssetsOperatingLeaseLeaseTerminated
0
CY2022 icg Right Of Use Assets Operating Lease Lease Terminated
RightOfUseAssetsOperatingLeaseLeaseTerminated
0
CY2023 icg Right Of Use Assets Operating Lease Lease Terminated
RightOfUseAssetsOperatingLeaseLeaseTerminated
704000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P30M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P18M16D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P21M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1159000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
773000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1932000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
68000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1864000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1103000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
761000
CY2022Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
112856000
CY2023Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
112856000
CY2022Q4 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
0
CY2023Q4 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
569000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
112856000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
113425000
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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.
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFairValueOfUnderlyingOfShareOptionMaximum
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AllocatedShareBasedCompensationExpense
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CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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InterestExpenseAndGuaranteeFee
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CY2022 icg Interest Expense And Guarantee Fee
InterestExpenseAndGuaranteeFee
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CY2023 icg Interest Expense And Guarantee Fee
InterestExpenseAndGuaranteeFee
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0
CY2022 icg Change In Fair Value Of Short Term Investments
ChangeInFairValueOfShortTermInvestments
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CY2023 icg Change In Fair Value Of Short Term Investments
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CY2022 us-gaap Other Income
OtherIncome
29726000
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OtherIncome
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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EffectiveIncomeTaxRateReconciliationTaxHolidays
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
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EffectiveIncomeTaxRateReconciliationBenefitFromTaxLossesAndTemporaryDifferencesUtilizedPercent
0
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EffectiveIncomeTaxRateReconciliationBenefitFromTaxLossesAndTemporaryDifferencesUtilizedPercent
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EffectiveIncomeTaxRateReconciliationBenefitFromTaxLossesAndTemporaryDifferencesUtilizedPercent
0.0164
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0322
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EffectiveIncomeTaxRateContinuingOperations
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CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11814000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
42000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12941000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
80000
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
129000
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207000
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DeferredTaxAssetsInventory
3996000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses
35000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
33000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
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6000
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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503000
CY2022Q4 us-gaap Deferred Tax Assets Net
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320000
CY2023Q4 us-gaap Deferred Tax Assets Net
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13546000
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362000
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
42000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
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12899000
CY2023Q4 us-gaap Unrecognized Tax Benefits
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0
CY2022Q4 us-gaap Unrecognized Tax Benefits
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0
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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503000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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0
CY2021 us-gaap Related Party Transaction Amounts Of Transaction
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0
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
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0
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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450144000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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355201000
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100870300
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100870300
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117647000
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117647000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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119387937
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4.46
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3.02
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0
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157024000
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0.17
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157810000
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0.17

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