[年报]安道麦B(200553):2022年年度报告摘要（英文版）
Abstract of the 2022 Annual Report of ADAMA Ltd. I. Important Reminder The Abstract is from the full text of the Annual Report. Investors are advised to read the full text of the Annual Report published on the media designated by China Securities Regulatory Commission for having a round understand 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. No disagreement was raised by the directors, supervisors, and senior managements. Non-standard auditor report □ Applicable √Not applicable Plan approved by the Board of Directors for dividend distribution of ordinary shares or increasing the capital by the transfer of capital reserves. √Applicable □Not applicable Whether increase the capital by the transfer of capital reserves □Yes √No The pre-plan of the dividend distribution approved by the meeting of the Board of Directors refers to the total outstanding 2,329,811,766 shares of the Company as the basis for the distribution as cash dividend of RMB 0.27 (before tax) per 10 shares, to all the shareholders of the Company. No shares will be distributed as share dividend, and no reserve will be transferred to equity capital. 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
2. Main Business or Products during the Reporting Period The Company is a global leader in crop protection, engaging in the development, manufacturing and solutions to farmers to combat weeds, insects and disease, and sells its products in over 100 countries, through approximately 60 subsidiaries worldwide. 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 allowing it 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 Europe, North America, Latin America, Asia- Pacific (including China) and India, the Middle-East and Africa. The Company also utilizes its expertise to adapt such products also for 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 agricultural and chemical fields and operates in several other non-agricultural areas, none of which, individually, is material for the 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 food fortification 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. General crop protection market environment During 2022, crop prices reached record levels in May 2022, driven by tight stocks, adverse weather conditions and the Ukraine-Russia conflict which disrupted the supply of commodities. Prices have since declined but are expected to remain above pre-pandemic levels. The high crop prices drove strong farmer income, despite the higher cost environment (fertilizer, chemicals, labor, energy) faced by farmers. As a result, crop protection demand stayed strong in 2022 and farmers were able to absorb crop protection price increases. Going into 2023, crop protection channel inventories in some regions are above average, which may dampen demand in the near future. The cost environment has improved throughout the second half of 2022, as raw material and active ingredient prices in China continued to decline, logistic prices normalized and energy prices eased. However, costs are still higher than pre-pandemic levels, with some areas still experiencing especially high costs, like European co-formulants and inland transportation. Market Competition and the Company’s Market Share The global crop protection market is dominated by seven multinational companies, including the Group, five of which are originator companies. In the past decade, a number of mergers and acquisitions were completed among the largest players in the crop protection industry. Nonetheless, the crop protection industry as a whole is relatively decentralized, with a number of local manufacturers competing in each country against the global multinational companies. The Group believes that entry barriers for the crop protection market are relatively high, although they vary from region to region. ADAMA is a leading company (in sales terms) among the crop-protection companies that focus on off-patent crop protection solutions. The Company’s global crop protection market share was approximately 6.5% in 2022, based on AgBio Investor’s preliminary estimation of the global agrochemical industry in 2022 (compared with 6.0% in 2021). 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
Reason for retroactive adjustments: According to ASBE 22 - Financial Instruments Recognition and Measurement, starting from 2022 the Group recorded the gain or loss from the disposal of derivative instruments in the “Gain(loss) from Changes in Fair Value”. Before 2022, the Group recorded the abovementioned gain of loss in the “Investment income, net”. The Company reclassified the “Gain(loss) from Changes in Fair Value” and the “Investment income, net” in the corresponding period in 2021. Such change did not impact the operating results or net assets of the reporting period. (2) Main Accounting Data by Quarter Unit: RMB’000
Any material differences between the financial indicators above or their summations and those which have been disclosed in quarterly or semi-annual reports □ Yes √ No 4. Shares and Shareholders (1) Number of Common Shareholders and Preferred Shareholders with Vote Right Restored and Shareholding Table of Top-10 Shareholders Unit: share
(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. Management Discussion and Analysis of the full text of 2022 Annual Report. ADAMA Ltd. Legal Representative：Ignacio Dominguez th March 19 , 2023 中财网
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