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 2023	FY 2022	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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	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
Special Equipment			185.28M	166.77M	161.04M	-	-
Special Equipment Growth			11.10%	3.56%	-	-	-
Chemical Materials			411.14M	378.79M	300.25M	-	-
Chemical Materials Growth			8.54%	26.16%	-	-	-
Civil Explosion Products			878.35M	602.18M	323.42M	-	-
Civil Explosion Products Growth			45.86%	86.19%	-	-	-
Engineering Blasting			22.73M	40.05M	25.76M	18.93M	-
Engineering Blasting Growth			-43.25%	55.47%	36.05%	-	-
Unallocated Other Business			9.77M	5.20M	4.64M	9.64M	9.83M
Unallocated Other Business Growth			87.84%	12.13%	-51.86%	-1.95%	28.04%
Industrial Explosives			-	-	-	132.47M	61.26M
Industrial Explosives Growth			-	-	-	116.24%	63.53%
Production Equipment System			-	-	-	96.28M	126.31M
Production Equipment System Growth			-	-	-	-23.77%	-19.93%
Key Raw and Auxiliary Materials of Industrial Explosives			-	-	-	269.81M	218.94M
Key Raw and Auxiliary Materials of Industrial Explosives Growth			-	-	-	23.23%	14.98%
Other Raw and Auxiliary Materials			-	-	-	11.29M	11.33M
Other Raw and Auxiliary Materials Growth			-	-	-	-0.39%	24.66%
Other Products and Services			-	-	-	25.15M	23.89M
Other Products and Services Growth			-	-	-	5.28%	48.68%
Initiating Equipment			-	-	-	66.00M	-
Energy Saving and Environmental Protection Equipment			-	-	-	3.48M	-
Total			1.51B	1.19B	815.11M	633.04M	451.56M
Total Growth			26.34%	46.36%	28.76%	40.19%	7.91%

Revenue by Geography

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 2023	FY 2022	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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	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
China			1.50B	1.18B	809.39M	626.77M	430.45M
China Growth			27.16%	45.51%	29.14%	45.61%	19.35%
outside China			9.71M	15.27M	5.72M	6.27M	21.11M
outside China Growth			-36.41%	166.79%	-8.72%	-70.31%	-63.47%
Total			1.51B	1.19B	815.11M	633.04M	451.56M
Total Growth			26.34%	46.36%	28.76%	40.19%	7.91%

Source: S&P Global Market Intelligence.