Qingmu Tec Co., Ltd. (SHE:301110)

Revenue by Segment

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Jan 1, 2023	Jan 1, 2022	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
E-Commerce Operation Service	634.46M	565.12M	486.50M	395.91M	426.98M
E-Commerce Operation Service Growth	12.27%	16.16%	22.88%	-7.28%	47.61%
Brand Incubation and Management	474.45M	306.67M	135.39M	-	-
Brand Incubation and Management Growth	54.71%	126.51%	-	-	-
Distribution Agency Business	193.85M	167.48M	224.54M	196.76M	206.17M
Distribution Agency Business Growth	15.75%	-25.41%	14.12%	-4.57%	12.80%
Brand Digital Marketing	36.83M	48.07M	66.80M	38.85M	45.63M
Brand Digital Marketing Growth	-23.37%	-28.05%	71.96%	-14.86%	24.85%
Technical Solutions and Consumer Operation Services	75.25M	65.82M	54.21M	56.35M	54.57M
Technical Solutions and Consumer Operation Services Growth	14.34%	21.42%	-3.80%	3.26%	16.51%
E-Commerce Channel Retail	-	-	-	158.76M	146.17M
E-Commerce Channel Retail Growth	-	-	-	8.61%	56.72%
Total	1.41B	1.15B	967.45M	846.63M	879.53M
Total Growth	22.69%	19.20%	14.27%	-3.74%	35.58%

Revenue by Geography

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Jan 1, 2023	Jan 1, 2022	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
China	1.36B	1.12B	939.33M	807.15M	826.15M
China Growth	21.16%	19.68%	16.38%	-2.30%	38.21%
Overseas	52.71M	28.95M	28.11M	39.48M	53.37M
Overseas Growth	82.08%	2.98%	-28.79%	-26.04%	4.79%
Total	1.41B	1.15B	967.45M	846.63M	879.53M
Total Growth	22.69%	19.20%	14.27%	-3.74%	35.58%

Source: S&P Global Market Intelligence.