ADAMA Ltd. First Quarter Report 2025
The Company and all members of its board of directors hereby confirm that all informationdisclosed herein is true, accurate and complete with no false or misleading statement ormaterial omission.
ADAMA LTD.
FIRST QUARTER REPORT 2025
ADAMA Ltd. (hereinafter referred to as “the Company”) is a global leader in crop protection,providing solutions to farmers across the world to combat weeds, insects and disease.ADAMA has one of the widest and most diverse portfolios of active ingredients in the world,state-of-the art R&D, manufacturing and formulation facilities, together with a culture thatempowers our people in markets around the world to listen to farmers and ideate from thefield. This uniquely positions ADAMA to offer a vast array of distinctive mixtures, formulationsand high-quality differentiated products, delivering solutions that meet local farmer andcustomer needs in in dozens of countries globally, with direct presence in all top 20 markets.Please see important additional information and further details included in the Annex.
April 2025
ADAMA Ltd. First Quarter Report 2025
Important NoticeThe Company’s Board of Directors, Board of Supervisors, directors, supervisors andsenior managers confirm that the content of the Report is true, accurate and completeand contains no false statements, misleading presentations or material omissions,and assume joint and several legal liability arising therefrom.Ga?l Hili, the person leading the Company (President and Chief Executive Officer) aswell as its legal representative, and Efrat Nagar, the person leading the accountingfunction and the accounting body (Chief Financial Officer), hereby assert and confirmthe truthfulness, accuracy and completeness of the financial information containedin the Report.The First Quarter Report has not been audited.Items of qualified opinion by the auditor
□Applicable √Not applicable
This Report has been prepared in both Chinese and English. Should there be anydiscrepancy between the two versions, the Chinese version shall prevail.
I. Main Financial Data
1. Main accounting and financial results
Whether the Company performs any retroactive adjustments to, or restatements of, its accounting dataof last year
□ Yes √ No
| January - March 2025 | January - March 2024 | YoY +/- (%) | |
| Operating revenues (RMB’000) | 7,172,735 | 7,508,899 | -4.48% |
| Net profit (loss) attributable to shareholders of the Company (RMB’000) | 151,131 | (227,605) | 166.40% |
| Net profit (loss) attributable to shareholders of the Company excluding non-recurring profit and loss (RMB’000) | 101,535 | (250,690) | 140.50% |
| Net cash flow from operating activities (RMB’000) | (206,868) | (735,162) | 71.86% |
| Basic EPS (RMB/share) | 0.065 | (0.098) | 166.43% |
| Diluted EPS (RMB/share) | NA | NA | NA |
| Weighted average return on net assets | 0.79% | -1.04% | 1.84% |
| End of Reporting Period | End of last year | +/- (%) | |
| Total assets (RMB’000) | 51,033,738 | 50,059,777 | 1.95% |
| Net assets attributable to shareholders (RMB’000) | 19,134,645 | 18,991,094 | 0.76% |
2. Non-Recurring profit/loss
√ Applicable □ Not applicable
Unit: RMB’000
| Item | January-March 2025 | Note |
| Gains/losses on the disposal of non-current assets (including the write-off of asset impairment provisions accrued during the period) | 3,792 | - |
| Government grants recognized through profit or loss (excluding government grants closely related to business of the Company and given at a fixed quota or amount in accordance with government’s uniform standard) | 5,102 | - |
| Reversal of provision for receivables and contract assets, that are subject to specific provision | 4,931 | - |
| Post vesting cash share based payment revaluation | 10,205 | |
| Gains or losses arising from the holding or disposal of financial assets or financial liabilities by non-financial corporations, except for effective hedging related to the normal operating of the Company | 30,714 | |
| Other non-operating income and expenses other than the above | 2,639 | - |
| Other profit or loss that meets the definition of non-recurring profit or loss | - | - |
| Less: Income tax effects | 7,787 | - |
| Total | 49,596 | - |
Explanation of other profit or loss that meets the definition of non-recurring profit or loss
□ Applicable √ Not applicable
No such cases during the Reporting Period.
Explanation of why the Company classified an item as non-recurring profit/loss according to the definitionin the First Explanatory Announcement on Information Disclosure for Companies Offering their Securitiesto the Public. Non-recurring Profit and Loss, and reclassified any non-recurring profit/loss item given asan example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases during the Reporting Period.
3. Changes in main accounting statement items and financial indicators in the Reporting
Period, as well as reasons for the changes
√ Applicable □ Not applicable
General Crop Protection Market Environment
Continuing the trend from 2024, key commodity crop prices remained subdued in Q1 2025, pressuring farmer income, despitesome ease in the prices of inputs.While channel inventory levels continue to ease following pandemic-era stockpiling, the high-interest rate environment coupledwith ample product supply driven by significant over-capacity production of active ingredients in China, continue to contributeto low active ingredient (“AI”) prices and a just-in-time purchasing approach by the channel.Geopolitical SituationADAMA is headquartered and has three manufacturing sites in Israel. The regional tensions which escalated on October7, 2023 have had no material impact to-date on the Company's ability to support its markets or its consolidated financialresults.Regarding US tariff policies, the Company continues to closely monitor the situation and the potential impact on its globalnetwork.‘Fight Forward’ Transformation PlanIn early 2024, ADAMA launched 'Fight Forward', a strategic transformation plan aimed at gradually delivering improvedprofit and cash targets over a three-year period. This plan has three main pillars: Optimize financial management,Streamline ADAMA’s operating model and Focus on the Value Innovation segment. As part of the Fight Forwardtransformation plan, the Company has initiated organizational changes to improve efficiencies.
| Q1 2025 (000’RMB) | Same period last year (000’RMB) | +/-% | Q1 2025 (000’USD) | Same period last year (000’USD) | +/-% |
Revenues
| Revenues | 7,172,735 | 7,508,899 | -4.48% | 999,540 | 1,057,150 | -5.45% |
Cost of goodssold
| Cost of goods sold | 5,223,631 | 5,688,352 | -8.17% | 727,928 | 800,840 | -9.10% |
Sales &Marketing
| Sales & Marketing | 951,363 | 1,080,738 | -11.97% | 132,571 | 152,154 | -12.87% |
Sources: AgbioInvestor Market Insight (February 2025), peer quarterly financial results, internal sources
| Q1 2025 (000’RMB) | Same period last year (000’RMB) | +/-% | Q1 2025 (000’USD) | Same period last year (000’USD) | +/-% |
expenses
expensesGeneral &Administrativeexpenses
| General & Administrative expenses | 372,765 | 280,258 | 33.01% | 51,944 | 39,456 | 31.65% |
R&Dexpenses
| R&D expenses | 103,844 | 111,852 | -7.16% | 14,469 | 15,747 | -8.12% |
FinancialExpenses
| Financial Expenses | 22,151 | 367,164 | -93.97% | 3,103 | 51,705 | -94.00% |
Loss fromChanges inFair Value
| Loss from Changes in Fair Value | (351,503) | (148,935) | 136.01% | (48,983) | (20,968) | 133.61% |
Total NetFinancialExpenses
| Total Net Financial Expenses | 373,654 | 516,099 | -27.60% | 52,086 | 72,673 | -28.33% |
Total profits(losses)
| Total profits (losses) | 131,999 | (151,293) | 187.25% | 18,383 | (21,310) | 186.26% |
Income taxexpenses(income)
| Income tax expenses (income) | (19,132) | 76,312 | -125.07% | (2,666) | 10,744 | -124.81% |
Net profit(loss)attributable toshareholdersof theCompany
| Net profit (loss) attributable to shareholders of the Company | 151,131 | (227,605) | 166.40% | 21,049 | (32,054) | 165.67% |
EBITDA
| EBITDA | 1,030,712 | 855,727 | 20.45% | 143,635 | 120,476 | 19.22% |
Note: Since the functional currency of main overseas subsidiaries is the USD, and the Company’s management review ofthe Company’s performance is based on the USD results, following explanations and analysis are based on USD-denominated numbers as listed above.In this table and all tables in this report numbers may not sum due to rounding.Analysis of Financial Highlights
(1) Revenues
Revenues in the first quarter declined by approximately 5% (-4% in RMB; -3% in CER) to $1,000 million, reflecting stablevolumes, a decrease of 4% in prices and negative foreign exchange impacts. The Company maintained stable volumes,with declines in Turkey (for which the first quarter is generally the most significant quarter of a year) and the continuedshifting away from selected low profit products, amid improvement of channel inventories in most regions. The lower priceswere due to just-in-time purchasing patterns of the channel and the pressure of low AI prices in light of overcapacity and ahigher interest rate environment.
Regional Sales Performance
Europe, Africa & Middle East (EAME): Revenues in the first quarter 2025 were down compared to the first quarterof2024, with slight decrease in pricing and stable volumes. Volumes improvements in Europe were more than offset bydeclines in Turkey. Channel levels have returned to normal, but competition remains strong.North America: Consumer & Professional Solutions: Sales in the first quarter 2025 grew significantly compared toQ1 2024, and margins remained strong. ADAMA’s US Ag market grew, with slight improvements in volumes and pricing.Pricing in Canada continues to experience increased competition and downward price pressure, though sales arecurrently up on significantly stronger volume, partially due to normalized channel stocking behavior.Latin America: In Brazil, revenues in the first quarter of 2025 declined year-over-year due to lower prices, lower volumesand weak currency. Similarly, in the rest of LATAM, sales were weaker in the first quarter of 2025 as compared to the firstquarter of 2024, mostly due to increased competition and just-in-time purchasing patterns.Asia Pacific (APAC): Sales in APAC (excluding China) continued to experience pricing pressure, with sales decliningcompared to the first quarter of 2024. The declines reflected both the ample over supply of Chinese generics and theCompany’s decision to optimize regional layouts. In China, first quarter sales were up. AI sales increased, driven bysignificant business growth which more than offset weak prices, amid gradual recovery of global demand. Non-ag salesalso increased supported mainly by higher prices of caustic soda. Declines in the branded formulations business mainlyreflected the impacts of market competition on prices and volumes.
(2) Cost of Goods and Gross Profit
The higher gross profit and margin in the first quarter mainly reflected the positive impact of lower costs of newinventory sold, more than compensating for lower prices and negative exchange rate impacts.
(3) Operating Expenses
In the first quarter of 2025, the Company continued implementation of the Fight Forward transformation plan whichwas initiated at the beginning of 2024. Higher advisory and restructuring costs incurred than the same period lastyear, leading to higher reported general and administrative expenses. In addition, in Q1 2024 and 2025 it similarlyrecorded certain non-operational, mostly non-cash charges in its sales and marketing expenses, as the Companyconducted corporate development activities, including mergers and acquisitions in recent years, which are mainly:
(i) non-cash amortization charges in respect of transfer assets received from Syngenta related to the 2017ChemChina-Syngenta acquisition; and (ii) non-cash amortization net charges related to intangible assets createdas part of the Purchase Price Allocation (PPA) on acquisitions, with no impact on the ongoing performance of thecompanies acquired. The above items affected the Company’s reported OPEX amounting to RMB 177 million ($25
As part of ADAMA’s business optimization program, on January 1, 2025, South Africa was reclassified from the APAC region to EAME.To enable meaningful comparisons, the 2024 data presented here includes South Africa under EAME.
| Q1 2025 $m | Q1 2024 $m | Change % USD |
Europe, Africa & Middle East (EAME)
| Europe, Africa & Middle East (EAME)2 | 356 | 377 | -6% |
North America
| North America | 219 | 191 | 15% |
Latin America
| Latin America | 147 | 191 | -23% |
Asia Pacific
| Asia Pacific2 | 278 | 298 | -7% |
Of which China
| Of which China | 166 | 154 | 8% |
Total
| Total | 1,000 | 1,057 | -5% |
million) in Q1 2025 in comparison to RMB 136 million ($19 million) in Q1 2024:
Excluding the impact of the abovementioned non-operational charges, the operating expenses were lower in thefirst quarter of 2025, reflecting benefits from continued tight OPEX management measures as part of the Company's'Fight Forward' transformation plan, and the positive impact of foreign exchange rates.
(4) Financial Expenses
“Financial Expenses” alone mainly reflect interest payments on corporate bonds and bank loans as well as foreignexchange gains/losses on the bonds and other monetary assets and liabilities before the Company carries out anyhedging. The impact of Financial Expenses, net (before hedging) is RMB 22 million ($3 million) for Q1 2025,compared with Financial Expenses, net of RMB 367 million ($52 million) for the corresponding period in 2024.Given the global nature of its operational activities and the composition of its assets and liabilities, the Company, inthe ordinary course of its business, uses foreign currency derivatives (forwards and options) to hedge the cash flowrisks associated with existing monetary assets and liabilities that may be affected by exchange rate fluctuations.“Gains/Losses from Changes in Fair Value”, which recorded the hedging impacts among others amounted to a netloss of RMB 352 million ($49 million) in Q1 2025, compared with a net loss of RMB 149 million ($21 million) in thecorresponding period in 2024.The aggregate of Financial Expenses and Gains/Losses from Changes in Fair Value (hereinafter as “Total NetFinancial Expenses”), which more comprehensively reflects the financial expenses of the Company in supportingits main business and protecting its monetary assets/liabilities, amounted to RMB 374 million ($52 million) in Q12025 compared with RMB 516 million ($73 million) in the corresponding period in 2024.In the first quarter of 2025, financial expenses were lower mainly due to lower hedging costs, and lower interestpaid on debt following improved efficiency of cash management in light of the positive cash flow achieved in theprevious twelve months, and one-time income recorded following the arbitration decision related to a controlledsubsidiary.
(5) Income Tax Expenses
The tax income in the first quarter of 2025 was mainly due to the non-cash impact of the stronger BRL and themethod of calculation of tax assets related to unrealized profits.In the first quarter of 2024 despite reaching losses before tax, the Company recorded tax expenses in the quartermainly because the losses were primarily incurred by subsidiaries with relatively lower tax rates, while some of themdid not create deferred tax assets on the losses. On the other hand, the subsidiaries that generated profit have ahigher tax rate. In addition, in the first quarter of 2024 the company recorded tax expenses due to the non-cashimpact of the weakness of the BRL.
Changes in main assets and liabilities
Unit: 000 RMB
| Assets and liabilities | End of Reporting Period | End of last year | +/- (%) | Explanation |
| Derivative financial assets | 72,478 | 483,822 | -85.02% | Realization and revaluation of derivatives |
| Other receivables | 1,906,877 | 1,147,469 | 66.18% | Increase mainly due to securitization programs |
| Derivative financial liabilities | 440,992 | 278,580 | 58.30% | Realization and revaluation of derivatives |
II. Information regarding Shareholders
1. Total number of ordinary shareholders and preference shareholders who had resumed their voting
right and shareholdings of top 10 shareholders at the period-end
Unit: share
| Total number of ordinary shareholders at the end of the Reporting Period | 41,269 (the number of ordinary A share shareholders is 29,480; the number of B share shareholders is 11,789) | Total number of preference shareholders who had resumed their voting right at the end of the Reporting Period (if any) | 0 | |||
| Shareholdings of top 10 shareholders (not including Shares Lent for the Relending Financing) | ||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Number of shares held | Number of restricted shares held | Pledged or frozen shares | |
| Status | Status | |||||
| 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 | 0.34% | 7,847,412 | -- | -- | -- |
| Hong Kong Securities Clearing Company Ltd. (HKSCC) | Overseas legal person | 0.33% | 7,694,893 | -- | -- | -- |
| Zhu Shenglan | Domestic Individual | 0.31% | 7,300,000 | -- | -- | -- |
Qichun CountyState-ownedAssetsOperationCenter
| Qichun County State-owned Assets Operation Center | State-owned legal person | 0.18% | 4,169,266 | -- | -- | -- | |||
| Liu Minqin | Domestic Individual | 0.16% | 3,827,873 | -- | -- | -- | |||
| Cai Wenxi | Domestic Individual | 0.16% | 3,676,200 | -- | -- | -- | |||
| Zhang Jianwei | Domestic Individual | 0.13% | 3,099,201 | -- | -- | -- | |||
| Shareholdings of top 10 non-restricted shareholders (not including Shares Lent for the Relending Financing and Lock-up Shares of Senior Management) | |||||||||
| Name of shareholder | Number of non-restricted shares held at the period-end | Types of Shares | |||||||
| Type | Number | ||||||||
| Syngenta Group Co., Ltd. | 1,828,137,961 | RMB ordinary share | 1,828,137,961 | ||||||
| China Structural Reform Fund | 33,557,046 | RMB ordinary share | 33,557,046 | ||||||
| China Cinda Asset Management Co., Ltd. | 31,115,916 | RMB ordinary share | 31,115,916 | ||||||
| Wu Feng | 7,847,412 | RMB ordinary share | 7,847,412 | ||||||
| Hong Kong Securities Clearing Company Ltd. (HKSCC) | 7,694,893 | RMB ordinary share | 7,694,893 | ||||||
| Zhu Shenglan | 7,300,000 | RMB ordinary share | 7,300,000 | ||||||
| Qichun County State-owned Assets Operation Center | 4,169,266 | RMB ordinary share | 4,169,266 | ||||||
| Liu Minqin | 3,827,873 | RMB ordinary share | 3,827,873 | ||||||
| Cai Wenxi | 3,676,200 | RMB ordinary share | 3,676,200 | ||||||
| Zhang Jianwei | 3,099,201 | RMB ordinary share | 3,099,201 | ||||||
| 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 3,136,426 shares of the Company through a credit collateral securities trading account, altogether 7,847,412 shares. Shareholder Zhu Shenglan held 7,300,000 shares of the Company through a credit collateral securities trading account. Shareholder Liu Minqin held 389,173 shares of the Company through a common securities account and 3,438,700 shares of the Company through a credit collateral securities trading account, altogether 3,827,873 shares. |
Involvement of Shareholders holding more than 5% of shares, Top 10 Shareholders and Top 10 Non-restricted Shareholders in Lending of Shares in the Relending Financing of Funds and Securities
□ Applicable √ Not applicable
Change from the Previous Reporting Period to the Top 10 Shareholders and Top 10 Non-restrictedShareholders due to the Lending/Returning of Shares in the Relending Financing of Funds andSecurities
□ Applicable √ Not applicable
2. Total number of preference shareholders and shareholdings of the top 10 of such at the period-
end
□ Applicable √ Not applicable
III. Other Significant Events
□ Applicable √ Not applicable
IV. Financial Statements
i. Financial statements
1. Consolidated balance sheet
Prepared by ADAMA Ltd.
31 March 2025
Unit: RMB’000
| Item | March 31, 2025 | December 31, 2024 | Item | March 31, 2025 | December 31, 2024 |
| Current assets: | Current liabilities: | ||||
| Cash at bank and on hand | 3,720,203 | 3,630,608 | Short-term loans | 5,349,972 | 4,748,720 |
| Financial assets held for trading | 1,263 | 1,035 | Derivative financial liabilities | 440,992 | 278,580 |
| Derivative financial assets | 72,478 | 483,822 | Bills payable | 427,254 | 439,495 |
| Bills receivable | 46,752 | 65,565 | Accounts payable | 5,109,262 | 4,934,865 |
| Accounts receivable | 8,170,620 | 7,977,830 | Contract liabilities | 1,507,358 | 1,810,764 |
| Receivables financing | 124,453 | 144,763 | Employee benefits payable | 831,319 | 851,784 |
| Prepayments | 355,194 | 313,542 | Taxes payable | 569,278 | 516,761 |
| Other receivables | 1,906,877 | 1,147,469 | Other payables | 1,788,510 | 1,417,319 |
| Inventories | 11,510,330 | 11,164,663 | Non-current liabilities due within one year | 2,233,067 | 2,230,713 |
| Other current assets | 1,079,821 | 988,093 | Other current liabilities | 845,995 | 784,456 |
| Total current assets | 26,987,991 | 25,917,390 | Total current liabilities | 19,103,007 | 18,013,457 |
| Non-current assets: | Non-current liabilities: | ||||
| Long-term receivables | 173,260 | 159,813 | Long-term loans | 2,044,152 | 2,166,625 |
| Long-term equity investments | 33,796 | 30,227 | Debentures payable | 6,207,405 | 6,320,157 |
| Other equity investments | 131,379 | 131,473 | Lease liabilities | 602,317 | 610,415 |
| Investment properties | 20,098 | 20,509 | Long-term accounts payable | 186,454 | 191,103 |
| Fixed assets | 10,125,313 | 9,762,895 | Long-term employee benefits payables | 553,532 | 543,855 |
| Construction in progress | 1,524,090 | 1,996,892 | Provisions | 340,338 | 316,490 |
| Right-of-use assets | 550,579 | 557,159 | Deferred tax liabilities | 266,365 | 283,081 |
| Intangible assets | 4,692,724 | 4,796,655 | Other non-current liabilities | 2,595,523 | 2,623,500 |
| Goodwill | 5,067,272 | 5,074,283 | Total non-current liabilities | 12,796,086 | 13,055,226 |
| Deferred tax assets | 1,412,550 | 1,291,654 | Total liabilities | 31,899,093 | 31,068,683 |
| Other non-current assets | 314,686 | 320,827 | Shareholders’ equity: | ||
| Total non-current assets | 24,045,747 | 24,142,387 | Share capital | 2,329,812 | 2,329,812 |
| Total assets | 51,033,738 | 50,059,777 | Capital reserves | 12,950,464 | 12,950,464 |
| Other comprehensive income | 1,712,518 | 1,721,028 | |||
| Special reserves | 11,728 | 10,798 | |||
| Surplus reserves | 298,610 | 298,610 | |||
| Retained earnings | 1,831,513 | 1,680,382 | |||
| Total equity attributed to the shareholders of the company | 19,134,645 | 18,991,094 | |||
| Non-controlling interests | - | - | |||
| Total equity | 19,134,645 | 18,991,094 | |||
| Total liabilities and equity | 51,033,738 | 50,059,777 |
| Ga?l Hili Legal representative | Efrat Nagar Chief of the accounting work | Efrat Nagar Chief of the accounting organ |
2. Consolidated income statement
Unit: RMB’000
| Item | January-March, 2025 | January-March, 2024 |
| 1. Total operating Income | 7,172,735 | 7,508,899 |
| Less: Cost of sales | 5,223,631 | 5,688,352 |
| Taxes and surcharges | 28,684 | 24,598 |
| Selling and Distribution expenses | 951,363 | 1,080,738 |
| General and Administrative expenses | 372,765 | 280,258 |
| Research and Development expenses | 103,844 | 111,852 |
| Financial expenses | 22,151 | 367,164 |
| Including: Interest expense | 249,298 | 297,099 |
| Interest income | 50,057 | 64,943 |
| Add: Investment income, net | 4,671 | 4,283 |
| Including: Income from investment in associates and joint ventures | 4,671 | 4,283 |
| Loss from changes in fair value | (351,503) | (148,935) |
| Credit impairment losses | (7,004) | (3,461) |
| Asset Impairment reversal | 4,131 | 11,408 |
| Gain from disposal of assets | 3,792 | 1,160 |
| 2. Operating profit (loss) | 124,384 | (179,608) |
| Add: Non-operating income | 12,584 | 33,200 |
| Less: Non-operating expense | 4,969 | 4,885 |
| 3. Total profit (loss) | 131,999 | (151,293) |
| Less: income tax expense (income) | (19,132) | 76,312 |
| 4. Net profit (loss) | 151,131 | (227,605) |
| 4.1 Classified by nature of operations | ||
| 4.1.1 Continuing operations | 151,131 | (227,605) |
| 4.2 Classified by ownership | ||
| 4.2.1 Shareholders of the Company | 151,131 | (227,605) |
| 4.2.2 Non-controlling interests | - | - |
| 5. Other comprehensive income net of tax | (8,510) | (27,987) |
| Other comprehensive income net of tax attributable to shareholders of the Company | (8,510) | (27,987) |
| 5.1 Items that will not be reclassified into profit/loss | (1,190) | (3,377) |
| 5.1.1 Re-measurement of defined benefit plan liability | (1,190) | (3,377) |
| 5.2 Items that were or will be reclassified to profit or loss | (7,320) | (24,610) |
| 5.2.1 Effective portion of gains or loss of cash flow hedge | (50,324) | 13,485 |
| 5.2.2 Translation differences of foreign financial statements | 43,004 | (38,095) |
| Other comprehensive income net of tax attributable to Non-controlling interests | - | - |
| 6. Total comprehensive income (expense) for the period | 142,621 | (255,592) |
| Total comprehensive income attributable to shareholders of the Company | 142,621 | (255,592) |
| Total comprehensive income attributable to Non-controlling interests | - | - |
| 7. Earnings (loss) per share | ||
| 7.1 Basic earnings (loss) per share (RMB/ share) | 0.065 | (0.098) |
| 7.2 Diluted earnings (loss) per share (RMB/ share) | N/A | N/A |
| Ga?l Hili Legal representative | Efrat Nagar Chief of the accounting work | Efrat Nagar Chief of the accounting organ |
3. Consolidated cash flow statement
Unit: RMB’000
| Item | January-March, 2025 | January-March, 2024 |
| 1. Cash flows from operating activities: | ||
| Cash received from sale of goods and rendering of services | 6,064,603 | 5,034,379 |
| Refund of taxes and surcharges | 41,487 | 47,216 |
| Cash received relating to other operating activities | 33,806 | 208,380 |
| Sub-total of cash inflows from operating activities | 6,139,896 | 5,289,975 |
| Cash paid for goods and services | 4,640,270 | 4,151,625 |
| Cash paid to and on behalf of employees | 906,531 | 1,020,430 |
| Payments of taxes and surcharges | 140,943 | 111,233 |
| Cash paid relating to other operating activities | 659,020 | 741,849 |
| Sub-total of cash outflows from operating activities | 6,346,764 | 6,025,137 |
| Net cash flows from operating activities | (206,868) | (735,162) |
| 2. Cash flows from investing activities: | ||
| Cash received from disposal of investments | 41,370 | 134,175 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 13,585 | 3,703 |
| Sub-total of cash inflows from investing activities | 54,955 | 137,878 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 317,242 | 468,399 |
| Cash paid for other investing activities | - | 142,429 |
| Sub-total of cash outflows from investing activities | 317,242 | 610,828 |
| Net cash flows from investing activities | (262,287) | (472,950) |
| 3. Cash flows from financing activities: | ||
| Cash received from borrowings | 190,500 | 863,075 |
| Cash received relating to other financing activities | 1,075,454 | 765,459 |
| Sub-total of cash inflows from financing activities | 1,265,954 | 1,628,534 |
| Cash repayment of borrowings | 471,926 | 1,382,652 |
| Cash payment for dividends, profit distributions or interest | 146,297 | 167,805 |
| Including: dividends paid to non-controlling interest | - | - |
| Cash paid relating to other financing activities | 124,533 | 61,284 |
| Sub-total of cash outflows from financing activities | 742,756 | 1,611,741 |
| Net cash flows from financing activities | 523,198 | 16,793 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | (1,445) | 12,915 |
| 5. Net Increase (decrease) in cash and cash equivalents | 52,598 | (1,178,404) |
| Add: Cash and cash equivalents at the beginning of the period | 3,583,963 | 4,857,358 |
| 6. Cash and cash equivalents at the end of the period | 3,636,561 | 3,678,954 |
ii. Impacts of Initial Application of Accounting Standards for Business Enterprises on theOpening Balances of the Current Period
□ Applicable √ Not applicable
iii. Auditor’s reportIs this Report audited?
□ Yes √ No
This Report is unaudited.
ADAMA Ltd.
Board of DirectorsApril 29, 2025