Revenue by Segment

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015
Period Ending	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	Dec '15 Dec 31, 2015
Tissue Paper Products	14.05B	14.07B	12.25B	10.71B	11.10B
Tissue Paper Products Growth	-0.15%	14.92%	14.32%	-3.46%	-7.40%
Others	3.46B	3.43B	3.01B	4.47B	4.84B
Others Growth	1.01%	13.87%	-32.66%	-7.61%	23.70%
Inter-Segment Sales	-2.15B	-1.44B	-	-1.85B	-1.89B
Disposable Diapers Products	1.44B	1.32B	1.20B	1.29B	1.53B
Disposable Diapers Products Growth	9.54%	9.53%	-7.07%	-15.26%	3.85%
Sanitary Napkin Products	5.86B	6.39B	6.16B	6.17B	6.80B
Sanitary Napkin Products Growth	-8.26%	3.74%	-0.19%	-9.36%	3.95%
Total	22.67B	23.77B	22.62B	20.79B	22.37B
Total Growth	-4.62%	5.09%	8.78%	-7.08%	-0.53%

Revenue by Geography

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015
Period Ending	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	Dec '15 Dec 31, 2015
Fujian and Jiangxi	9.06B	8.62B	8.19B	7.02B	6.77B
Fujian and Jiangxi Growth	5.04%	5.30%	16.67%	3.60%	1.68%
North Western China	785.29M	887.38M	827.93M	749.88M	852.00M
North Western China Growth	-11.50%	7.18%	10.41%	-11.99%	-2.29%
South-Western China	1.78B	1.94B	1.75B	1.62B	1.79B
South-Western China Growth	-8.58%	11.37%	7.94%	-9.53%	-8.73%
Guangdong, Guangxi, Hunan and Hubei	2.89B	3.38B	3.06B	2.86B	3.31B
Guangdong, Guangxi, Hunan and Hubei Growth	-14.51%	10.37%	7.01%	-13.61%	-9.81%
North-Eastern	730.40M	749.88M	713.70M	667.80M	690.00M
North-Eastern Growth	-2.60%	5.07%	6.87%	-3.22%	-2.13%
Northern China	1.27B	1.24B	1.10B	1.02B	1.05B
Northern China Growth	1.91%	12.52%	8.00%	-2.59%	-2.60%
Shandong and Henan	1.53B	1.64B	1.60B	1.60B	1.72B
Shandong and Henan Growth	-6.80%	2.71%	0.34%	-7.32%	-6.41%
Eastern China	2.64B	2.96B	2.90B	2.83B	3.18B
Eastern China Growth	-10.76%	1.95%	2.71%	-11.21%	5.29%
Hong Kong and Macau	1.39B	1.82B	1.96B	1.92B	2.26B
Hong Kong and Macau Growth	-23.47%	-7.09%	2.15%	-15.17%	6.44%
outside Mainland China	598.07M	519.08M	511.69M	513.86M	743.00M
outside Mainland China Growth	15.22%	1.44%	-0.42%	-30.84%	32.92%
Total	22.67B	23.77B	22.62B	20.79B	22.37B
Total Growth	-4.62%	5.09%	8.78%	-7.08%	-0.53%

Source: S&P Global Market Intelligence.