ADAMA LTD.
SEMI-ANNUAL REPORT 2023
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.
Please see important additional information and further details included in the Annex.
August 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 statement, misleading presentations or material omissions, and
assume joint and several legal liability arising therefrom.
Steve Hawkins, the person in charge of 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 the Company’s directors attended the board meeting for the review of this Report.
The forward-looking information described in this Report, such as future plans,
development strategy, market trends and their effect 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 possible risks in “X - Risks Facing the Company and
Countermeasures” under Section III herein. 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 “Risks Facing the Company and Countermeasures”
of the Company, please see the relevant section below.
For the Reporting Period, the Company does not plan to distribute cash dividends or
bonus shares or convert capital reserve into share 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 ......9
Section IV – Corporate Governance......36
Section V – Environmental and Social Responsibilities ......38
Section VI - Significant Events ......51
Section VII - Share Changes and Shareholders ......80
Section VIII - Preferred stock ......87
Section IX - Bonds......88
Section X - Financial Report ......89
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) 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
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 ADAMA Anpon (Jiangsu) Ltd., a wholly-owned subsidiary of the Company,
incorporated in China according to its laws
ADAMA Huifeng ADAMA Huifeng (Jiangsu) Ltd., a 51% owned subsidiary of the Company,
incorporated in China according to its laws
Board of Directors/Board The Board of Directors of the Company
Board of Supervisors The Board of Supervisors of the Company
Group, the Group, ADAMA The Company, including all its subsidiaries, unless expressly stated otherwise
ChemChina China National Chemical Co., Ltd.
ChemChina-Syngenta The acquisition of Syngenta AG by ChemChina in 20
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