Revenue by Segment

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Agent and Related	66.55B	73.34B	67.22B	75.16B	90.27B
Agent and Related Growth	-9.26%	9.10%	-10.56%	-16.74%	48.96%
Logistics	30.74B	28.70B	28.24B	28.13B	24.58B
Logistics Growth	7.12%	1.63%	0.38%	14.46%	23.64%
E-Commerce	12.61B	12.26B	14.57B	13.24B	15.36B
E-Commerce Growth	2.86%	-15.84%	10.00%	-13.75%	96.82%
Inter-Segment Elimination	-13.09B	-8.68B	-8.26B	-7.24B	-5.85B
Total	96.81B	105.62B	101.76B	109.29B	124.35B
Total Growth	-8.34%	3.79%	-6.89%	-12.11%	47.09%

Source: S&P Global Market Intelligence.