ADAMA LTD.
ANNUAL REPORT 2022
ADAMA Ltd. 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 that empowers our people in markets around
the world to listen to farmers and ideate from the field. This uniquely positions ADAMA to
offer a vast array of distinctive mixtures, formulations and high-quality differentiated products,
delivering solutions that meet local farmer and customer needs in over 100 countries globally.
For further important additional information and details, please refer to the Annex.
March 2023
Section I - Important Notice, Table of Contents and Definitions
The Company’s Board of Directors, Board of Supervisors, directors, supervisors and senior managers confirm
that the content of the Report is true, accurate and complete and contains no false statements, misleading
presentations or material omissions, and assume joint and several legal liability arising therefrom.
Ignacio Dominguez, the person leading the Company (President and Chief Executive Officer) as well as its legal
representative, and Efrat Nagar - the person leading the accounting function (Chief Financial Officer), hereby
assert and confirm the truthfulness, accuracy and completeness of the Financial Report.
All of the Company’s directors attended the board meeting for the review of this Report.
The forward looking information described in the Report, such as future plans, development strategy etc., does
not constitute, in any manner whatsoever, a substantial commitment of the Company to investors. Investors and
other relevant people are cautioned to be sufficiently mindful of investment risks as well as the difference between
plans, forecasts and commitments.
The Company has described its future development strategies, work plan for 2023 and possible risks in “VIII.
Outlook of the Company’s future development” in Section III. The major risks of the Company include, among
others, exchange rate fluctuations; exposure to interest rate, Israel CPI and NIS exchange rate fluctuations;
fluctuations in raw material inputs and prices, and in sales. Investors and other relevant people are cautioned to
be sufficiently mindful of investment risks. For the complete “Risk factors and countermeasures” of the Company,
please see the relevant section below.
The pre-plan of the dividend distribution approved by the meeting of the Board of Directors on March 19, 2023
refers to the total outstanding 2,329,811,766 shares of the Company on February 28, 2023 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.
This Report and its abstract have been prepared in both Chinese and English. Should there be any discrepancies
between the two versions, the Chinese version shall prevail.
Table of Contents
Section I - Important Notice, Table of Contents and Definitions ......2
Section II - Corporate Profile and Financial Results ......6
Section III - Performance Discussion and Analysis......12
Section IV - Corporate Governance......54
Section V - Environment and Social Responsibilities......79
Section VI - Significant Events......91
Section VII - Change in Shares & Shareholders ......136
Section VIII - Preferred Stock ......148
Section IX - Corporate Bonds......149
Section X - Financial Report......150
Contents of Documents Available for Reference
(I) Duly signed Financial Statements by the Legal Representative and Accounting Principal as well as Head of the
Accounting Organ.
(II) Duly signed Auditor’s Report and seals the certified public accountants.
(III) Originals of all Company’s documents previously disclosed in media designated by the CSRC as well as the originals
of all the public notices, were deposited in the Company’s office.
Definitions
In this Report, the following terms have the meaning appearing alongside them, unless otherwise specified:
General Terms Definition
Company, the Company ADAMA Ltd.
Adama Solutions Adama Agricultural Solutions Ltd., a wholly-owned subsidiary of the Company,
incorporated in Israel according to its laws
Anpon, ADAMAAnpon ADAMAAnpon (Jiangsu) Ltd., a wholly-owned subsidiary of the Company
Board of Directors/Board The Board of Directors of the Company
Board of Supervisors The Board of Supervisors of the C
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