安道麦B：2024年第一季度报告（英文版）

StockCode:000553(200553)StockAbbreviation:ADAMAA(B)AnnouncementNo.2024-18 TheCompanyandallmembersofitsboardofdirectorsherebyconfirmthatallinformationdisclosedhereinistrue,accurateandcompletewithnofalseormisleadingstatementormaterialomission. ADAMALTD. FIRSTQUARTERREPORT2024 ADAMALtd.(hereinafterreferredtoas“theCompany”)isagloballeaderincropprotection,providingsolutionstofarmersacrosstheworldtocombatweeds,insectsanddisease.ADAMAhasoneofthewidestandmostdiverseportfoliosofactiveingredientsintheworld,state-of-theartR&D,manufacturingandformulationfacilities,togetherwithaculturethatempowersourpeopleinmarketsaroundtheworldtolistentofarmersandideatefromthefield.ThisuniquelypositionsADAMAtoofferavastarrayofdistinctivemixtures,formulationsandhigh-qualitydifferentiatedproducts,deliveringsolutionsthatmeetlocalfarmerandcustomerneedsinover100countriesglobally. PleaseseeimportantadditionalinformationandfurtherdetailsincludedintheAnnex. April2024 ImportantNotice TheCompany’sBoardofDirectors,BoardofSupervisors,directors,supervisorsandseniormanagersconfirmthatthecontentoftheReportistrue,accurateandcompleteandcontainsnofalsestatements,misleadingpresentationsormaterialomissions,andassumejointandseverallegalliabilityarisingtherefrom. SteveHawkins,thepersonleadingtheCompany(PresidentandChiefExecutiveOfficer)aswellasitslegalrepresentative,andEfratNagar,thepersonleadingtheaccountingfunctionandtheaccountingbody(ChiefFinancialOfficer),herebyassertandconfirmthetruthfulness,accuracyandcompletenessofthefinancialinformationcontainedintheReport. TheFirstQuarterReporthasnotbeenaudited. ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepancybetweenthetwoversions,theChineseversionshallprevail. I.MainFinancialData 1.Mainaccountingandfinancialresults WhethertheCompanyperformsanyretroactiveadjustmentsto,orrestatementsof,itsaccountingdataoflastyear □Yes√No January-March2024 January-March2023 YoY+/-(%) Operatingrevenues(RMB’000) 7,508,899 8,610,576 -12.79% NetprofitattributabletoshareholdersoftheCompany(RMB’000) (227,605) 83,273 -373.32% NetprofitattributabletoshareholdersoftheCompanyexcludingnon-recurringprofitandloss(RMB’000) (250,690) 44,893 -658.42% Netcashflowfromoperatingactivities(RMB’000) (735,162) (2,905,168) 74.69% BasicEPS(RMB/share) (0.098) 0.036 -372.22% DilutedEPS(RMB/share) NA NA NA Weightedaveragereturnonnetassets -1.04% 0.36% -1.40% EndofReportingPeriod Endoflastyear +/-(%) Totalassets(RMB’000) 54,702,737 55,405,803 -1.27% Netassetsattributabletoshareholders(RMB’000) 21,662,821 21,924,475 -1.19% 2.Non-Recurringprofit/loss √Applicable□Notapplicable Unit:RMB’000 Item January-March2024 Note Gains/lossesonthedisposalofnon-currentassets(includingthewrite-offofassetimpairmentprovisionsaccruedduringtheperiod) 1,159 - Governmentgrantsrecognizedthroughprofitorloss(excludinggovernmentgrantscloselyrelatedtobusinessoftheCompanyandgivenatafixedquotaoramountinaccordancewithgovernment’suniformstandard) 1,716 - Reversalofprovisionforreceivablesandcontractassets,thataresubjecttospecificprovision 8,879 - Postvestingcashsharebasedpaymentrevaluation 11,206 Othernon-operatingincomeandexpensesotherthantheabove 5,017 - Otherprofitorlossthatmeetsthedefinitionofnon-recurringprofitorloss - - Less:Incometaxeffects 4,892 - Total 23,085 - Explanationofotherprofitorlossthatmeetsthedefinitionofnon-recurringprofitorloss □Applicable√Notapplicable NosuchcasesduringtheReportingPeriod. ExplanationofwhytheCompanyclassifiedanitemasnon-recurringprofit/lossaccordingtothedefinitionintheFirstExplanatoryAnnouncementonInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic.Non-recurringProfitandLoss,andreclassifiedanynon-recurringprofit/lossitemgivenasanexampleinthesaidexplanatoryannouncementtorecurrentprofit/loss □Applicable√Notapplicable NosuchcasesduringtheReportingPeriod. 3.ChangesinmainaccountingstatementitemsandfinancialindicatorsintheReportingPeriod,aswellasreasonsforthechanges √Applicable□Notapplicable GeneralCropProtectionMarketEnvironment1 Keycommoditycroppricescontinuedtodeclineinthefirstmonthsof2024andglobalsupplycontinuedtoimprove.Croppricesremainaboveaveragehistoricallevelsbutthecurrentpricelevelhasanegativeimpactonfarmerincomecomparedtopreviousyears.Despitethis,farmerdemandisexpectedtoremainstableunderthecurrentconditions.Thechannelinventorysituationiseasingup,buttherestillremainsaboveaverageinventoriesinseveralgeographies,includingBrazil.Inaddition,thehighinterestrateenvironment,continuetodriveajust-in-timepurchasingapproachbythechannel.ActiveingredientpricesfromChinaremainedlowduringQ1withsomemoleculesevenexperiencingfurtherpricedeclines,ononehandreducinginputcostsbutontheothercreatingpricingpressureoncropprotectionproductsandsupportinga"waitandsee"approachinthemarket. UpdateontheWarSituationinIsrael ADAMAisheadquarteredinIsraelandhasthreemanufacturingsitesinthecountry.FollowingOctober7th,2023,theCompanycontinuedtheproductioninitsglobalmanufacturingsitesandinIsrael,withcertainnon-significantrestrictions(whichhaveb