diff --git a/crates/rspack_core/src/exports_info.rs b/crates/rspack_core/src/exports_info.rs
index b76c882e9b9..cdeae4ebdab 100644
--- a/crates/rspack_core/src/exports_info.rs
+++ b/crates/rspack_core/src/exports_info.rs
@@ -1293,11 +1293,17 @@ impl ExportInfoId {
     if !export_info.target_is_set || export_info.target.is_empty() {
       return FindTargetRetEnum::Undefined;
     }
-    let raw_target = export_info
-      .get_max_target_readonly()
-      .values()
-      .next()
-      .cloned();
+
+    let raw_target = if export_info.max_target_is_set {
+      export_info
+        .get_max_target_readonly()
+        .values()
+        .next()
+        .cloned()
+    } else {
+      export_info._get_max_target().values().next().cloned()
+    };
+
     let Some(raw_target) = raw_target else {
       return FindTargetRetEnum::Undefined;
     };
@@ -1718,6 +1724,8 @@ impl ExportInfo {
     map
   }
 
+  /// Panics:
+  /// Panics if max target is not set before.
   fn get_max_target_readonly(&self) -> &HashMap<Option<DependencyId>, ExportInfoTargetValue> {
     assert!(self.max_target_is_set);
     &self.max_target
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/index.js b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/index.js
new file mode 100644
index 00000000000..09eff7dcb6d
--- /dev/null
+++ b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/index.js
@@ -0,0 +1,5 @@
+import { QueryClient } from 'mocklib';
+
+it("should compile", () => {
+  expect(QueryClient).toBe(1)
+});
\ No newline at end of file
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/core.js b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/core.js
new file mode 100644
index 00000000000..40cf7612cc1
--- /dev/null
+++ b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/core.js
@@ -0,0 +1,2 @@
+export { QueryClient } from './queryclient';
+export * from './empty';
\ No newline at end of file
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/empty.js b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/empty.js
new file mode 100644
index 00000000000..e69de29bb2d
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/lib.js b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/lib.js
new file mode 100644
index 00000000000..4b0e0413762
--- /dev/null
+++ b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/lib.js
@@ -0,0 +1 @@
+export * from './core';
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/package.json b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/package.json
new file mode 100644
index 00000000000..81f0a344a40
--- /dev/null
+++ b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/package.json
@@ -0,0 +1,8 @@
+{
+  "name": "mocklib",
+  "main": "./lib.js",
+  "module": "./lib.js",
+  "sideEffects": [
+    "lib.js"
+  ]
+}
\ No newline at end of file
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/queryclient.js b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/queryclient.js
new file mode 100644
index 00000000000..8bf3dbf7e52
--- /dev/null
+++ b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/node_modules/mocklib/queryclient.js
@@ -0,0 +1 @@
+export var QueryClient = 1;
\ No newline at end of file
diff --git a/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/rspack.config.js b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/rspack.config.js
new file mode 100644
index 00000000000..749dca0efc0
--- /dev/null
+++ b/packages/rspack-test-tools/tests/configCases/concatenate-modules/get-max-target-panic/rspack.config.js
@@ -0,0 +1,13 @@
+/**@type {import("@rspack/core").Configuration}*/
+module.exports = {
+  mode: "development",
+  entry: {
+    main: "./index.js"
+  },
+  optimization: {
+    providedExports: true,
+    usedExports: true,
+    concatenateModules: true,
+    minimize: false
+  },
+};