ADAMA Ltd.
First Half 2025 Performance Estimation
The Company and all the directors confirm that the information disclosed herein is true,accurate, complete and contains no false recording, misleading statement or material omission.
I. Performance Estimation
1. Estimation period: January 1, 2025 - June 30, 2025
2. Estimated performance: net loss
| Item | Current reporting period January to June 2025 | Same period last year January to June 2024 |
Net loss attributable to theshareholders of the listed company
(RMB in millions)
| Net loss attributable to the shareholders of the listed company (RMB in millions) | (108)-(54) | (895) |
Net loss excluding non-recurring
profits and losses(RMB in millions)
| Net loss excluding non-recurring profits and losses (RMB in millions) | (177)-(123) | (947) |
Basic loss per share
(RMB)
| Basic loss per share (RMB) | (0.0464)-(0.0232) | (0.3841) |
Note: The ‘non-recurring profits and losses’ referred to above are as defined in the Explanatory Announcement No. 1on Information Disclosure for Companies Offering their Securities to the Public-Non-Recurring Profit and Loss.
II. Communication with External AuditorThe estimated results of this period are the preliminary estimation of the Company and have notbeen audited nor reviewed by certified accountants. The Company and the external auditor havepreliminarily communicated regarding relevant matters of the performance estimation, and haveno material disagreement.
III. Explanations for Performance VariationSalesSupported by the growth of revenues in the second quarter of 2025, ADAMA is expecting toreport flat sales for the first half of 2025 (+1% in RMB, 0% in USD), compared to the first half of2024. The stabilization of revenues in H1 2025 was driven by volume growth due to improvedchannel inventories, which offset lower prices. Prices were weak mainly due to low prices of
active ingredients in light of overcapacity, as well as a higher interest rate environment andcomparably low commodity prices, which put pressure on distributors and farmers.EBITDA and Net LossFor the first half of 2025, the Company is expecting to report an increase in EBITDA and in itsmargin, compared to the first half of 2024. This is due to an increase in the gross profit and itsmargin, mainly reflecting the positive impact of lower costs of new inventory sold and highervolumes.The Company expects to report a narrowed net loss to the range of RMB 108 million to 54 millionfor the first half of 2025, compared to a loss of RMB 895 million for the first half of 2024. Thisexpectation is mainly due to higher operating profit and lower tax expenses despite an increasein financial expenses.
IV. Other Remarks
The estimated results above are only preliminary calculations performed by the finance team ofthe Company based on initial financial data available to the Company and have not been auditedor reviewed by the Company's independent auditors. These estimations may change, inter alia,as a result of the further processing and analysis of the financial data that the Company willperform for the preparation of its financial statements for the first half of 2025. Please refer to theReport for the first half 2025 to be duly disclosed by the Company on August 27
th, 2025 for specificand accurate financial information.Investors are reminded to exercise caution when making investment decisions.Media for Information Disclosure of the Company: China Securities Journal, Securities Times andCninfo (www.cninfo.com.cn).
By order of the BoardADAMA Ltd. July 15
th, 2025