XIANGPIAOPIAO Food Co.,Ltd (SHA:603711)

Revenue by Segment

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

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 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Milk Tea Industry	2.93B	3.29B	3.63B	3.13B	3.47B
Milk Tea Industry Growth	-11.00%	-9.32%	15.90%	-9.76%	-7.83%
Total	2.93B	3.29B	3.63B	3.13B	3.47B
Total Growth	-11.00%	-9.32%	15.90%	-9.76%	-7.83%

Revenue by Geography

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

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 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
East China	1.24B	-	-	1.36B	1.53B
East China Growth	-	-	-	-10.98%	-6.73%
Central China	372.53M	-	-	462.68M	513.77M
Central China Growth	-	-	-	-9.94%	-11.87%
Southwest China	388.86M	-	-	419.17M	449.10M
Southwest China Growth	-	-	-	-6.66%	-10.29%
Northwest China	234.92M	-	-	269.82M	273.77M
Northwest China Growth	-	-	-	-1.44%	-10.49%
North China	140.48M	-	-	160.69M	119.99M
North China Growth	-	-	-	33.91%	-24.07%
South China	99.39M	-	-	112.48M	189.21M
South China Growth	-	-	-	-40.55%	-9.25%
Northeast China	43.00M	-	-	33.85M	43.41M
Northeast China Growth	-	-	-	-22.02%	-22.51%
Unallocated	334.90M	-	-	262.47M	290.68M
Unallocated Growth	-	-	-	-9.71%	16.74%
Export	33.95M	-	-	14.90M	13.69M
Export Growth	-	-	-	8.86%	-52.97%
Total	2.89B	-	-	3.09B	3.42B
Total Growth	-	-	-	-9.51%	-8.23%

Source: S&P Global Market Intelligence.