What Ingdan does

Ingdan, Inc. (硬蛋創新, HKEX: 400.HK) is a Hong Kong-listed technology services platform group that connects upstream AI chip technology providers with downstream innovation enterprises in China. Founded in 2014 as the successor to the 1995-established 科通集團 (Cogobuy/Comtech Group), the company operates two core segments: 科通技術 (Cogobuy Technology), an AI computing-power supply chain platform distributing GPUs, CPUs, FPGAs, ASICs, storage chips, and software for AI servers, data centers, switches, and optical modules on behalf of 80+ chip manufacturers (including Nvidia, Xilinx, Intel, AMD, and ST Microelectronics); and 硬蛋科技 (Ingdan Technology), an AIoT platform focused on lithium-battery full-lifecycle management for the two-wheeler battery swap, cascade utilization, and energy storage verticals. Distribution spans a self-service B2B e-commerce storefront (cogobuy.com) targeting hundreds of thousands of electronics manufacturing SMEs, plus a direct field-sales motion serving enterprise accounts such as Huawei, ZTE, and humanoid-robotics customers.

The group's technology stack is built around a proprietary Cogobuy AI Technology Platform that combines self-developed AI, large models, and a professional industry knowledge base to automate chip selection, hardware design, software development, and supply-chain integration. Ingdan has registered IP covering intelligent algorithm libraries, industry-specific large models, an intelligent hardware design platform, an adaptive system architecture, and an intelligent development toolchain. Through a November 2025 partnership with D-Robotics, Ingdan distributes the S600 'Brain-Cerebellum' SoC — combining an 18-core A78AE CPU, a proprietary Nash-architecture BPU delivering 560 TOPS, and a 6-core R52+ real-time MCU — to humanoid-robotics firms (Fourier Intelligence, Booster Robotics, X Square Robot, ROBOTERA, Galbot), supplemented by multi-sensor fusion development, quantization-aware training support, and modular SOM customization services.

Ingdan generates revenue primarily through transaction-fee margins on chip distribution (Cogobuy Technology and cogobuy.com), subscription/recurring revenue from the AIoT smart-battery management platform, and professional-services revenue from Ingdan Academy's chip-application training and localized AI large-model deployment solutions. Geographically anchored in Shenzhen (headquartered at Microsoft Cogobuy Building, Nanshan District) with secondary activity in Hong Kong and a WeChat IR channel (IRM-00400HK), Ingdan has cumulatively cultivated over 2,000 chip-application engineers through Ingdan Academy. The group's reported 9M 2025 revenue exceeded RMB 10 billion (+42% YoY) with Q1 2026 revenue up 125.6% YoY, indicating strong operating leverage on the AI compute demand cycle in China.

Name

Ingdan

Legal name

Ingdan, Inc.

Website

https://ingdangroup.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ingdan (硬蛋創新, HKEX: 400.HK) is a Hong Kong-listed AI computing-power supply-chain and AIoT platform that distributes chips from 80+ manufacturers (Nvidia, Intel, AMD, Xilinx, ST) to tens of thousands of Chinese electronics and AI customers, and operates AIoT battery-management and humanoid-robotics compute platforms (D-Robotics S600).

Ownership category

akta.pro rank

Product category

Electronic Components Distribution and AI Computing Power Supply Chain

NAICS

Computer Systems Design Services (541512), Communications Equipment Manufacturing (3342)

SIC

Services-Computer Integrated Systems Design (7373), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Edge AI Hardware & NPUs (SoCs, modules, accelerators) (HDAAAJAC)

akta.pro secondary industry

AI Hardware IP & Chiplet/Packaging for Accelerators (EDA/IP, advanced packaging) (HDAAAAAL)

Keywords

• AI chip distribution
• Computing power supply chain
• Semiconductor component distribution
• AIoT platform services
• Battery management solutions

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. 科通技術 (Cogobuy Technology) - IC Component Distribution: AI computing power supply chain services covering data centers, AI servers, AI switch network products, optical modules, and AI applications. Distributes products from over 80 core chip companies including Nvidia, Xilinx, Intel, AMD, and ST Microelectronics. Products include GPU, CPU, FPGA, ASIC, storage chips, software and full-series components. Provides chip application technology solutions and supply chain management services to tens of thousands of downstream innovation customers.
2. 硬蛋科技 AIoT Platform Services: AI and IoT technology and services platform focusing on new energy two-wheeler battery swapping and cascade utilization industry, building lithium battery full lifecycle data traceability and trusted asset management platform for customized solutions in battery swapping, cascade power, and energy storage applications.
3. Technical Services and Talent Training (硬蛋學堂): Ingdan Academy provides chip application technology training and talent development services, helping upstream AI chip manufacturers with market promotion and training AI technical talent for downstream AI application companies. Also provides enterprise localized AI large model application solutions. Has cultivated over 2,000 chip application engineers.
4. 科通芯城 (Cogobuy.com) E-commerce Platform: Self-service IC component online procurement platform for electronics manufacturing SMEs, providing one-stop online purchasing services. Part of Ingdan's digital transformation of the IC component distribution market.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Ingdan (硬蛋創新) is an AI chip-focused technology services platform that connects upstream chip manufacturers with downstream innovation enterprises. The company provides AI computing power supply chain services (distributing products from 80+ chip companies including Nvidia, Xilinx, Intel, AMD, ST Microelectronics), chip application technology solutions, intelligent supply chain management, AIoT technology and new energy battery management platform services, and chip application technical training through Ingdan Academy.

Product overview

Ingdan, Inc. (硬蛋創新, stock code 400.HK) operates as a Hong Kong-listed AI computing power supplier and application technology solutions provider with two main business segments: 科通技术 (Cogobuy Technology) for AI computing power supply chain services representing over 80 chip manufacturers, and 硬蛋科技 (Ingdan Technology) for AIoT technology and new energy battery management services. The company distributes the D-Robotics S600 robotics computing platform featuring Brain-Cerebellum chipset architecture, and provides complementary technical services including multi-sensor fusion development, quantization-aware training support, and modular SOM customization. Through 硬蛋學堂 (Ingdan Academy), the company also offers chip application technical training and AI large model deployment solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Cogobuy Technology AI Computing Power Supply Chain Platform (科通技術) AI computing power supply chain core supplier serving computing centers, data centers, AI servers, AI switch network products, optical modules, and AI application fields. Distributes products from over 80 core chip companies including Nvidia, Xilinx, Intel, AMD, ST Microelectronics and domestic chip manufacturers. Provides chip application technology solutions and supply chain management services to tens of thousands of downstream innovation customers.
• Ingdan Technology AIoT Smart Battery Management Platform (硬蛋科技)

Quantifiable outcome

• Q1 2026 revenue increased 125.6% year-over-year; first nine months of 2025 revenue exceeded 10 billion RMB with 42% year-over-year growth
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core.

• D-RoboticscoreChannel Partner/ Reseller/ Distributor · 1 November 2025Ingdan distributes D-Robotics' S600 Brain-Cerebellum computing platform to its humanoid robotics ecosystem. The S600 platform features 560 TOPS edge computing power, an 18-core A78AE CPU, proprietary Nash-architecture BPU, and 6-core R52+ MCU for real-time motion control. Ingdan provides complementary technical services including multi-sensor fusion development, quantization-aware training support, and modular SOM customization.
• Fourier IntelligencecoreTechnology or IntegrationFourier Intelligence has adopted D-Robotics' S600 computing platform distributed by Ingdan, using the Brain-Cerebellum integrated SoC architecture for its humanoid robotics applications.
• Booster RoboticscoreTechnology or IntegrationBooster Robotics has adopted D-Robotics' S600 computing platform distributed by Ingdan for its humanoid robotics solutions.
• X Square RobotcoreTechnology or IntegrationX Square Robot has adopted the D-Robotics S600 computing platform distributed by Ingdan for embodied AI robotics applications.
• ROBOTERAcoreTechnology or IntegrationROBOTERA has adopted the D-Robotics S600 computing platform distributed by Ingdan for its humanoid robotics applications.
• GalbotcoreTechnology or IntegrationGalbot has adopted the D-Robotics S600 computing platform distributed by Ingdan for embodied AI robotics solutions.
• Nvidia (英偉達)coreTechnology or IntegrationIngdan's 科通技術 (Cogobuy Technology) is a core distributor of Nvidia products, serving the AI computing power supply chain market covering AI servers, data centers, and AI applications. Ingdan leverages Nvidia's product portfolio as part of its AI chip distribution ecosystem.
• Xilinx (賽靈思)coreTechnology or IntegrationIngdan's 科通技術 distributes Xilinx products (FPGAs) as part of its comprehensive AI computing power supply chain covering GPU, CPU, FPGA, ASIC, storage chips, and full-series components from over 80 chip suppliers.
• Intel (英特爾)coreTechnology or IntegrationIngdan's 科通技術 distributes Intel products as part of its AI computing power supply chain, covering AI servers, data centers, and AI applications.
• AMD (超威半導體)coreTechnology or IntegrationIngdan's 科通技術 distributes AMD products as part of its AI chip ecosystem, serving AI computing power supply chain needs.
• ST Microelectronics (意法半導體)coreTechnology or IntegrationIngdan's 科通技術 distributes ST Microelectronics products as part of its comprehensive AI chip supply chain covering GPU, CPU, FPGA, ASIC, storage chips, and full-series components.
• Microsoft (微軟)coreStrategic or Co-development PartnerIngdan Group's headquarters is located at Microsoft科通大廈 (Microsoft Cogobuy Building) in Shenzhen's Nanshan District. The building serves as the company's primary office location and hosts the 硬蛋創新中心 (Ingdan Innovation Center).
• Hong Kong Stock ExchangecoreOthersIngdan is listed on the Hong Kong Stock Exchange with stock code 400.HK, providing public market access and corporate governance transparency.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Avnet: Global electronic component distributor and solutions provider. Comparable to Ingdan in serving electronic component distribution plus embedded/compute solutions for downstream innovation customers.
• WPG Holdings: Asia's largest IC component distributor, headquartered in Taiwan. Highly comparable to Ingdan as a multi-line semiconductor distributor with global supplier relationships and downstream customers across Asia.
• WT Microelectronics: Taiwan-based IC distributor with broad supplier linecard and Asian downstream reach. Directly comparable to Ingdan's Cogobuy Technology business model and customer overlap in Greater China.
• Arrow Electronics: Global IC distributor offering semiconductors and enterprise computing solutions. Comparable to Ingdan as a broad-line distributor with extensive supplier relationships and value-added technical services.

Regional players

• Rutronik Elektronische Bauelemente: European broad-line semiconductor distributor with embedded and AI offerings. Comparable to Ingdan as a regional distributor with technology-services extension, but operating primarily in EMEA rather than Greater China.
• Macnica: Japan-headquartered semiconductor and IC distributor with technology services. Comparable to Ingdan as a regional distributor focused on technology value-add, but operating primarily in the Japanese market.

Broad incumbents

• Future Electronics: One of the world's largest privately-held electronic component distributors with a broad supplier portfolio. Comparable to Ingdan as a global broad-line distributor serving industrial, AI, and embedded customers.

Emerging players

• Horizon Robotics: China-based edge AI chip company targeting automotive ADAS and robotics. Comparable to Ingdan's S600 distribution focus as an edge AI silicon platform competing for the same humanoid/robotics compute sockets.
• Cambricon Technologies: Chinese AI chip designer focused on cloud and edge inference accelerators. Adjacent peer given Ingdan's AI computing power supply chain positioning and distribution relationship with Chinese AI silicon vendors.
• D-Robotics: Edge AI SoC company whose S600 Brain-Cerebellum platform is distributed by Ingdan into humanoid robotics. Adjacent rather than directly competing — D-Robotics designs the silicon while Ingdan provides distribution and technical services to the same robotics ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ingdan