Stock Code: 000553(200553) Stock Abbreviations: ADAMA A(B) Announcement No.2025-8
Abstract of the 2024 Annual Report of ADAMA Ltd.I. Important ReminderThe Abstract is from the full text of the Annual Report. Investors are advised to read the full text of the AnnualReport published on the media designated by China Securities Regulatory Commission for having a roundunderstanding of the Company’s performance, financial status and future development plan.
All the directors attended the Board of Directors meeting to review the Annual Report.
Non-standard auditor report
□ Applicable √Not applicable
Plan approved by the Board of Directors for dividend distribution of ordinary shares or increasing the capital bythe transfer of capital reserves.
□Applicable √Not applicable
The Company does not plan to distribute cash or share dividends, nor plan to transfer capital reserve to equitycapital.
Plan approved by the Board of Directors for dividend distribution of preferred shares
□ Applicable √ Not applicable
II. Basic information about the Company
1. Company profile
| Stock name | ADAMA A, ADAMA B | Stock code | 000553, 200553 | |
| Stock exchange | Shenzhen Stock Exchange | |||
| Contact Information | Board Secretary | Securities Affairs Representative & Investor Relations Manager | ||
| Name | Guo Zhi | Wang Zhujun | ||
| Address | 6/F, No.7 Office Building, No.10 Courtyard, Chaoyang Park South Road, Chaoyang District, Beijing | |||
| Tel. | 010-56718110 | 010-56718110 | ||
| irchina@adama.com | irchina@adama.com | |||
2. Main Business or Products during the Reporting Period
Main Business and ProductsThe Company is a global leader in crop protection, engaging in the development, manufacturing andcommercialization of a wide range of crop protection products, that are largely off-patent. The Company providessolutions to farmers to combat weeds, insects and disease, and sells its products in dozens of countries globally,with direct presence in all top 20 markets.
The Company’s main products are herbicides, insecticides and fungicide, which protect agricultural and other cropsagainst weeds, insects and disease, respectively. The Company also utilizes its expertise to adapt such products alsofor the development, manufacturing and commercialization of similar products for non-agricultural purposes(Consumer and Professional Solutions). In addition, the Company leverages its core capabilities in the agriculturaland chemical fields and operates in several other non-agricultural areas, none of which, individually, is material forthe Company. These activities, collectively reported as Intermediates and Ingredients, include primarily, (a) the
manufacturing and marketing of dietary supplements, food colors, texture and flavor enhancers, and foodfortification ingredients; (b) fragrance products for the perfume, cosmetics, body care and detergents industries; (c)the manufacturing of industrial products and (d) other non-material activities.
The Company's business model integrates end-customer access, regulatory expertise, state-of-the art global R&D,production and formulation facilities, thereby providing the Company a significant competitive edge and allowingit to launch new and differentiated products that meet local farmers and customer needs in key markets.
The Company's primary operations are global, spanning activities in North America, Latin America, Asia-Pacific(including China) and Europe, Africa and the Middle East.
General crop protection market environmentKey commodity crop prices remained subdued in 2024, pressuring farmer income, despite some ease in the pricesof inputs. Global crop protection industry sales is estimated to have declined in 2024.While channel inventory continues to ease following pandemic-era stockpiling, the high-interest rate environmentcoupled with ample product supply (driven by significant over-capacity production of active ingredients (“AIs”) inChina) contributing to low AI prices, continue to drive a just-in-time purchasing approach by the channel.
Market Competition and the Company’s Market ShareThe global crop protection market is dominated by seven multinational companies, including the Group, five ofwhich are originator companies. In the past decade, a number of mergers and acquisitions were completed amongthe largest players in the crop protection industry. Nonetheless, the crop protection industry as a whole is relativelydecentralized, with a number of local manufacturers competing in each country against the global multinationalcompanies. The Group believes that entry barriers for the crop protection market are relatively high, although theyvary from region to region.
ADAMA is a leading company (in sales terms) among the crop-protection companies that focus on off-patent cropprotection solutions. The Company’s global crop protection market share was approximately 5% in 2024, based onpreliminary estimation made by AgBio Investor regarding total sales in the agrochemical industry, and 5.1% in2023.
3. Main Accounting Data and Financial Indicators
(1) Main Accounting Data and Financial Indicators of the Latest Three Years
Whether the Company performed any retroactive adjustments to or restatement of its accounting data
□ Yes √ No
Unit: RMB’000
| 2024 | 2023 | +/- (%) | 2022 | |
| Operating revenue (RMB’000) | 29,488,046 | 32,779,456 | -10.04% | 37,381,915 |
| Net profit attributable to the shareholders (RMB’000) | (2,903,204) | (1,605,887) | -80.79% | 609,391 |
| Net profit attributable to the shareholders, excluding non-recurring profit and loss (RMB’000) | (3,024,721) | (1,851,491) | -63.37% | 501,621 |
| Net cash flows from operating activities (RMB’000) | 3,760,631 | 2,617,877 | 43.65% | 940,745 |
| Basic EPS (RMB/share) | (1.2461) | (0.6893) | -80.78% | 0.2616 |
| Diluted EPS (RMB/share) | N/A | N/A | N/A | N/A |
| Weighted average return on equity | (14.19%) | (7.13%) | -7.06% | 2.76% |
| 31 Dec. 2024 | 31 Dec. 2023 | +/- (%) | 31 Dec. 2022 | |
| Total assets (RMB’000) | 50,059,777 | 55,405,803 | -9.65% | 57,980,489 |
| Net assets attributable to the shareholders (RMB’000) | 18,991,094 | 21,924,475 | -13.38% | 23,124,655 |
(2) Main Accounting Data by Quarter
Unit: RMB’000
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
| Operating revenue | 7,508,899 | 7,401,390 | 6,613,004 | 7,964,753 |
| Net profit attributable to the shareholders | (227,605) | (667,261) | (943,246) | (1,065,092) |
| Net profit attributable to the shareholders excluding non-recurring profit and loss | (250,690) | (696,365) | (978,076) | (1,099,590) |
| Net cash flows from operating activities | (735,162) | 2,466,280 | 1,131,114 | 898,399 |
Any material differences between the financial indicators above or their summations and those which have beendisclosed in quarterly or semi-annual reports
□ Yes √ No
4. Shares and Shareholders
(1) Number of Common Shareholders and Preferred Shareholders with Vote Right Restored andShareholding Table of Top-10 Shareholders
Unit: share
| Total number of shareholders at the reporting period | 45,981 | Total number of shareholders on the 30th trading day before the disclosure date of the annual report | 42,016 | Total number of preferred stockholder with vote right restored | 0 | Total number of preferred stockholder with vote right restored on the 30th trading day before the disclosure date of the annual report | 0 | |||
| Shareholding of Top-10 Shareholders (Excluding Shares Lent for the Relending Financing) | ||||||||||
| Name of shareholder | Nature of shareholder | Holding percentage | Number of shares | Number of shares held subject to trading moratorium | Pledged or frozen shares | |||||
| Status of shares | Amount | |||||||||
| Syngenta Group Co., Ltd. | State-owned legal person | 78.47% | 1,828,137,961 | -- | -- | -- | ||||
| China Structural Reform Fund | State-owned legal person | 1.44% | 33,557,046 | -- | -- | -- | ||||
| China Cinda Asset Management Co., Ltd. | State-owned legal person | 1.34% | 31,115,916 | -- | -- | -- | ||||
| Wu Feng | Domestic Individual | 0.33% | 7,719,412 | -- | -- | -- | ||||
| Zhu Shenglan | Domestic Individual | 0.31% | 7,300,000 | -- | -- | -- | ||||
| Hong Kong Securities Clearing Company Ltd. (HKSCC) | Overseas legal person | 0.28% | 6,447,957 | -- | -- | -- | ||||
| Qichun County State-owned Assets Supervision and Administration Bureau | State-owned legal person | 0.18% | 4,169,266 | -- | -- | -- | ||||
| Cai Wenxi | Domestic Individual | 0.16% | 3,676,200 | -- | -- | -- | ||||
| Liu Minqin | Domestic Individual | 0.16% | 3,624,373 | -- | -- | -- | ||||
| Guotai Junan Securities (Hong Kong) Limited | Overseas legal person | 0.13% | 3,037,596 | -- | -- | -- | ||||
| Explanation on associated relationship or/and persons | Syngenta Group Co., Ltd. is not related party or acting-in-concert party as prescribed in the Administrative Methods for Acquisition of Listed Companies to other shareholders. It is unknown to the Company whether shareholders above are related parties or acting-in-concert parties as prescribed in the Administrative Methods for Acquisition of Listed Companies. | |||||||||
| Particular about shareholder participate in the securities lending and borrowing business ( if any) | Shareholder Wu Feng held 4,710,986 shares of the Company through a common securities account and 3,008,426 shares of the Company through a | |||||||||
credit collateral securities trading account, altogether 7,719,412 shares.Shareholder Zhu Shenglan held 7,300,000 shares of the Company through acredit collateral securities trading account. Shareholder Liu Minqin held185,673 shares of the Company through a common securities account and3,438,700 shares of the Company through a credit collateral securities tradingaccount, altogether 3,624,373 shares.
credit collateral securities trading account, altogether 7,719,412 shares.Shareholder Zhu Shenglan held 7,300,000 shares of the Company through acredit collateral securities trading account. Shareholder Liu Minqin held185,673 shares of the Company through a common securities account and3,438,700 shares of the Company through a credit collateral securities tradingaccount, altogether 3,624,373 shares.
Shareholders holding more than 5% of shares, top ten shareholders and top ten shareholders with unlimited sharesin circulation participating in the shares lending through refinancing arrangement
□ Applicable √ Not Applicable
Change of the Top 10 Shareholders with unlimited shares from the previous period due to the shareslending/returning through refinancing arrangement
□ Applicable √ Not Applicable
(2) Number of Preferred Shareholders and Shareholding Table of Top-10 Preferred Shareholders
□ Applicable √ Not applicable
None in the Reporting Period.
(3) Block Diagram of Equity and Control Relationship between the Company and Actual controller
5. Corporate Bonds on the Reporting Date
□ Applicable √ Not applicable
III. Important Matters
None.For introduction to Company business during the reporting period, please refer to Section III. ManagementDiscussion and Analysis of the full text of 2024 Annual Report.
ADAMA Ltd.Legal Representative：Ga?l Hili
March 14
th
, 2025