Shanghai Ruking Technologies Co., Ltd. (SHE:301525)

Revenue by Segment

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2023	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Jan 1, 2023	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Heating, Ventilation, Air Conditioning and Refrigeration Equipment	782.38M	816.62M	1.20B	1.41B	1.15B
Heating, Ventilation, Air Conditioning and Refrigeration Equipment Growth	-4.19%	-31.78%	-14.81%	22.35%	59.88%
New Energy Vehicle Thermal Management System	463.43M	453.21M	307.83M	170.47M	86.61M
New Energy Vehicle Thermal Management System Growth	2.26%	47.23%	80.58%	96.82%	294.57%
Servo Drive and Control System	35.77M	26.52M	38.87M	35.05M	54.07M
Servo Drive and Control System Growth	34.87%	-31.77%	10.92%	-35.19%	4.70%
Unallocated Others	4.09M	808.71K	749.61K	3.05M	-
Unallocated Others Growth	405.27%	7.89%	-75.45%	-	-
Total	1.29B	1.30B	1.54B	1.61B	1.29B
Total Growth	-0.89%	-16.02%	-4.28%	25.17%	62.79%

Revenue by Geography

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2023	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Jan 1, 2023	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
China	971.30M	1.09B	1.08B	1.07B	962.75M
China Growth	-10.91%	1.10%	0.97%	10.93%	62.55%
overseas	314.37M	206.93M	466.24M	545.75M	326.40M
overseas Growth	51.92%	-55.62%	-14.57%	67.20%	63.52%
Total	1.29B	1.30B	1.54B	1.61B	1.29B
Total Growth	-0.89%	-16.02%	-4.28%	25.17%	62.79%

Source: S&P Global Market Intelligence.