Intchains Group Limited (ICG) Balance Sheet

NASDAQ: ICGAssets, liabilities, debt and equity over 6 years.

ICG balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥1.02B assets = CN¥43.4M liabilities + CN¥972.7M equity

Both columns are drawn to the same scale: what ICG owns equals what it owes plus shareholders’ equity. Hover a block for its value.

ICG financial health

Debt / equity0.00

Low leverage · CN¥0.00 of debt for each $1 of equity

Equity / assets95.7%

Equity-funded · of assets funded by shareholders

Cash / debt28,636.7%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles20.8%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

ICG balance sheet trends, 2020–2025

Intchains Group Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥43.9M2020	CN¥1.02B2025	+87.5%/yr
Total liabilities	CN¥9.7M2020	CN¥43.4M2025	+34.9%/yr
Shareholders’ equity	CN¥34.2M2020	CN¥972.7M2025	+95.3%/yr
Cash & short-term investments	CN¥19.6M2020	CN¥475.1M2025	+89.1%/yr
Total debt	CN¥239,0002020	CN¥1.7M2025	+47.3%/yr
Net cash (debt)	CN¥19.4M2020	CN¥473.4M2025	+CN¥454.0M
Working capital	CN¥33.6M2020	CN¥539.6M2025	+CN¥506.0M
Debt / equity	0.012020	0.002025	−0.01
Shares outstanding	59.8M2020	30.2M2025	−12.8%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

ICG assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

ICG liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ICG debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

ICG balance sheet in Chinese yuan

Intchains Group Limited annual balance sheet
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	CN¥475.1M	CN¥520.8M	CN¥688.3M	CN¥712.2M	CN¥502.4M	CN¥19.6M
Cash & equivalents	CN¥226.8M	CN¥322.3M	CN¥585.2M	CN¥712.2M	CN¥502.4M	CN¥19.6M
Short-term investments	CN¥248.3M	CN¥198.6M	CN¥103.2M	CN¥0	—	—
Receivables	CN¥0	CN¥28.4M	CN¥13.8M	CN¥3.5M	CN¥38.0M	CN¥8.3M
Inventory	CN¥52.2M	CN¥98.6M	CN¥41.8M	CN¥77.8M	CN¥66.8M	CN¥9.5M
Other current assets	CN¥55.1M	CN¥73.1M	CN¥33.6M	CN¥38.5M	CN¥174,000	CN¥5.8M
Total current assets	CN¥582.4M	CN¥720.9M	CN¥777.5M	CN¥832.0M	CN¥607.4M	CN¥43.3M
Property, plant & equipment (net)	CN¥142.8M	CN¥157.3M	CN¥163.8M	CN¥8.3M	CN¥3.9M	CN¥645,000
Goodwill & intangible assets	CN¥211.6M	CN¥3.6M	CN¥4.1M	CN¥0	CN¥0	CN¥0
Long-term investments	CN¥21.5M	CN¥20.6M	CN¥20.0M	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥57.8M	CN¥187.2M	CN¥13.9M	CN¥112.9M	CN¥0	CN¥0
Total assets	CN¥1.02B	CN¥1.09B	CN¥979.2M	CN¥953.1M	CN¥611.3M	CN¥43.9M
Liabilities
Accounts payable	CN¥3.0M	CN¥14.8M	CN¥195,000	CN¥2.9M	CN¥6.6M	CN¥621,000
Short-term debt	CN¥542,339	CN¥272,000	CN¥1.1M	CN¥972,000	CN¥934,000	CN¥239,000
Deferred revenue	CN¥16.5M	CN¥37.4M	CN¥9.8M	CN¥6,000	CN¥3.0M	CN¥6.2M
Total current liabilities	CN¥42.8M	CN¥76.4M	CN¥28.2M	CN¥19.2M	CN¥31.6M	CN¥9.7M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥1.1M	CN¥272,000	CN¥1.9M	CN¥1.3M	CN¥2.2M	CN¥239,000
Other long-term liabilities	CN¥558,352	CN¥0	CN¥761,000	CN¥336,000	CN¥1.3M	CN¥46,000
Total liabilities	CN¥43.4M	CN¥76.4M	CN¥28.9M	CN¥19.5M	CN¥32.9M	CN¥9.7M
Shareholders' equity
Common stock & paid-in capital	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000
Retained earnings (deficit)	CN¥710.5M	CN¥814.1M	CN¥714.0M	CN¥741.5M	CN¥390.1M	−CN¥16.3M
Accumulated other comprehensive income	CN¥50.8M	CN¥3.8M	CN¥50.1M	CN¥47.5M	CN¥43.7M	−CN¥1,000
Total shareholders' equity	CN¥972.7M	CN¥1.01B	CN¥950.3M	CN¥933.6M	CN¥578.4M	CN¥34.2M
Key figures
Total debt	CN¥1.7M	CN¥272,000	CN¥1.9M	CN¥1.3M	CN¥2.2M	CN¥239,000
Net cash (debt)	CN¥473.4M	CN¥520.5M	CN¥686.5M	CN¥711.0M	CN¥500.2M	CN¥19.4M
Working capital	CN¥539.6M	CN¥644.5M	CN¥749.4M	CN¥812.8M	CN¥575.8M	CN¥33.6M
Tangible book value	CN¥761.1M	CN¥1.01B	CN¥946.3M	CN¥933.6M	CN¥578.4M	CN¥34.2M
Shares outstanding	30.2M	30.0M	59.7M	62.4M	59.8M	59.8M
Current ratio	13.60	9.43	27.61	43.34	19.22	4.48
Quick ratio	11.10	7.18	24.93	37.28	17.10	2.89
Debt / equity	0.00	0.00	0.00	0.00	0.00	0.01
Equity / assets	95.7%	93.0%	97.0%	98.0%	94.6%	77.9%

Intchains Group Limited quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥461.1M	CN¥461.1M	CN¥475.1M	CN¥452.7M	CN¥491.7M	CN¥543.8M	CN¥552.6M	CN¥563.4M	CN¥661.6M	CN¥670.9M	CN¥688.3M	CN¥707.0M
Cash & equivalents	CN¥306.7M	CN¥306.7M	CN¥226.8M	CN¥259.5M	CN¥276.3M	CN¥243.3M	CN¥354.0M	CN¥514.0M	CN¥645.1M	CN¥665.8M	CN¥585.2M	CN¥703.6M
Short-term investments	CN¥154.4M	CN¥154.4M	CN¥248.3M	CN¥193.2M	CN¥215.4M	CN¥300.5M	CN¥198.6M	CN¥49.3M	CN¥16.6M	CN¥5.1M	CN¥103.2M	CN¥3.5M
Receivables	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥28.4M	CN¥0	CN¥26.9M	CN¥0	CN¥1	CN¥13.8M	CN¥1
Inventory	CN¥33.8M	CN¥33.8M	CN¥52.2M	CN¥130.1M	CN¥131.8M	CN¥92.5M	CN¥98.6M	CN¥87.4M	CN¥40.5M	CN¥30.8M	CN¥41.8M	CN¥55.9M
Other current assets	CN¥56.0M	CN¥56.0M	CN¥55.1M	CN¥80.7M	CN¥53.6M	CN¥54.6M	CN¥69.7M	CN¥51.3M	CN¥59.6M	CN¥37.2M	CN¥33.6M	CN¥10.5M
Total current assets	CN¥551.0M	CN¥551.0M	CN¥582.4M	CN¥663.5M	CN¥677.1M	CN¥719.3M	CN¥720.9M	CN¥729.0M	CN¥761.8M	CN¥738.8M	CN¥777.5M	CN¥773.4M
Property, plant & equipment (net)	CN¥138.8M	CN¥138.8M	CN¥142.8M	CN¥142.7M	CN¥154.9M	CN¥155.9M	CN¥157.3M	CN¥163.4M	CN¥49.8M	CN¥51.0M	CN¥163.8M	CN¥168.2M
Goodwill & intangible assets	CN¥10.7M	CN¥22.7M	CN¥211.6M	CN¥266.7M	CN¥161.0M	CN¥105.0M	CN¥3.6M	CN¥153.1M	CN¥3.8M	CN¥27.5M	CN¥4.1M	CN¥665,000
Long-term investments	CN¥0	CN¥0	CN¥21.5M	CN¥21.6M	CN¥22.0M	CN¥21.9M	CN¥20.6M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥162.4M	CN¥150.4M	CN¥57.8M	CN¥48.5M	CN¥44.5M	CN¥35.9M	CN¥187.2M	CN¥19.8M	CN¥270.3M	CN¥137.7M	CN¥33.9M	CN¥13.3M
Total assets	CN¥862.9M	CN¥862.9M	CN¥1.02B	CN¥1.14B	CN¥1.06B	CN¥1.04B	CN¥1.09B	CN¥1.07B	CN¥1.09B	CN¥955.0M	CN¥979.2M	CN¥955.5M
Liabilities
Accounts payable	CN¥204,000	CN¥204,000	CN¥3.0M	CN¥5.4M	CN¥4.3M	CN¥5.2M	CN¥14.8M	CN¥7.6M	CN¥4.2M	CN¥1.2M	CN¥195,000	CN¥151,000
Short-term debt	CN¥91,000	CN¥91,000	CN¥542,339	—	—	CN¥272,000	CN¥272,000	CN¥1.1M	CN¥1.5M	CN¥1.1M	CN¥1.1M	CN¥709,000
Deferred revenue	CN¥16.1M	CN¥16.5M	CN¥16.5M	CN¥20.1M	CN¥15.8M	CN¥28.9M	—	CN¥45.1M	CN¥61.0M	CN¥236,000	CN¥9.8M	—
Total current liabilities	CN¥34.0M	CN¥34.0M	CN¥42.8M	CN¥40.1M	CN¥32.9M	CN¥52.9M	CN¥76.4M	CN¥70.6M	CN¥95.9M	CN¥17.1M	CN¥28.2M	CN¥12.8M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥91,000	—	CN¥1.1M	CN¥0	CN¥0	CN¥0	CN¥272,000	CN¥1.1M	CN¥1.5M	CN¥1.5M	CN¥1.9M	CN¥1.8M
Other long-term liabilities	CN¥0	CN¥558,352	CN¥558,352	CN¥0	CN¥0	CN¥0	CN¥0	CN¥543,000	CN¥45,000	CN¥382,000	CN¥761,000	CN¥1.1M
Total liabilities	CN¥34.0M	CN¥34.0M	CN¥43.4M	CN¥40.1M	CN¥32.9M	CN¥52.9M	CN¥76.4M	CN¥71.1M	CN¥95.9M	CN¥17.5M	CN¥28.9M	CN¥14.0M
Shareholders' equity
Common stock & paid-in capital	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000	CN¥1,000
Retained earnings (deficit)	CN¥565.6M	CN¥617.6M	CN¥710.5M	CN¥840.8M	CN¥766.4M	CN¥728.1M	CN¥814.1M	CN¥749.9M	CN¥798.1M	CN¥699.2M	CN¥714.0M	CN¥706.4M
Accumulated other comprehensive income	−CN¥5.5M	−CN¥5.5M	CN¥50.8M	CN¥53.0M	CN¥54.9M	CN¥55.4M	CN¥3.8M	CN¥51.0M	CN¥1.6M	CN¥50.5M	CN¥50.1M	CN¥50.4M
Total shareholders' equity	CN¥829.0M	CN¥829.0M	CN¥972.7M	CN¥1.10B	CN¥1.03B	CN¥985.1M	CN¥1.01B	CN¥994.2M	CN¥989.7M	CN¥937.4M	CN¥950.3M	CN¥941.6M
Key figures
Total debt	CN¥91,000	CN¥91,000	CN¥1.7M	—	—	CN¥272,000	CN¥272,000	CN¥1.1M	CN¥1.5M	CN¥1.5M	CN¥1.9M	CN¥1.8M
Net cash (debt)	CN¥461.0M	CN¥461.0M	CN¥473.4M	—	—	CN¥543.6M	CN¥552.3M	CN¥562.2M	CN¥660.1M	CN¥669.4M	CN¥686.5M	CN¥705.2M
Working capital	CN¥517.0M	CN¥517.0M	CN¥539.6M	CN¥623.3M	CN¥644.2M	CN¥666.4M	CN¥644.5M	CN¥658.4M	CN¥665.9M	CN¥721.7M	CN¥749.4M	CN¥760.6M
Tangible book value	CN¥818.2M	CN¥806.2M	CN¥761.1M	CN¥836.1M	CN¥865.7M	CN¥880.2M	CN¥1.01B	CN¥841.1M	CN¥986.0M	CN¥909.9M	CN¥946.3M	CN¥940.9M
Shares outstanding	30.4M	60.9M	30.4M	30.4M	30.3M	30.0M	30.0M	60.0M	60.0M	59.9M	60.0M	59.9M
Current ratio	16.22	16.22	13.60	16.53	20.57	13.60	9.43	10.33	7.94	43.08	27.61	60.25
Quick ratio	13.58	13.58	11.10	11.28	14.94	10.82	7.23	8.36	6.90	39.12	24.93	55.08
Debt / equity	0.00	0.00	0.00	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Equity / assets	96.1%	96.1%	95.7%	96.5%	96.9%	94.9%	93.0%	93.3%	91.2%	98.2%	97.0%	98.5%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 13, 2026); data from EODHD.

ICG financial position

At the end of fiscal 2025 (December 31, 2025), Intchains had total assets of CN¥1.0 billion (down 6.7% from a year earlier), total liabilities of CN¥43.4 million and shareholders' equity of CN¥972.7 million. It held CN¥475.1 million in cash and short-term investments against CN¥1.7 million of debt, a net cash position of CN¥473.4 million. Its current ratio was 13.60. In the latest quarter (ended June 30, 2026) total assets were CN¥862.9 million and equity CN¥829.0 million.

Related: ICG income statement, ICG cash flow statement, ICG key metrics. See the ICG stock overview for the latest quote and news.

ICG balance sheet FAQ

What are Intchains's total assets?

Intchains reported total assets of CN¥1.0 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥1.1 billion a year earlier.

How much debt does Intchains have?

Intchains had CN¥1.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.

How much cash does Intchains have?

Intchains held CN¥475.1 million in cash and short-term investments at the end of fiscal 2025; with CN¥1.7 million of debt that is net cash of CN¥473.4 million.

What is Intchains's book value?

Intchains's shareholders' equity (book value) was CN¥972.7 million at the end of fiscal 2025.

What is Intchains's current ratio?

Intchains had current assets of CN¥582.4 million and current liabilities of CN¥42.8 million, a current ratio of 13.60 (it can cover its short-term obligations).

How much goodwill does Intchains have?

Intchains carried CN¥211.6 million of goodwill and intangible assets, 20.8% of total assets, at the end of fiscal 2025.