ADAMA(SZ:000553)2025-04-28 11:10Financial Performance - The company's revenue for Q1 2025 was 7,172,735 thousand RMB, a decrease of 4.48% compared to 7,508,899 thousand RMB in the same period last year[6]. - Net profit attributable to shareholders was 151,131 thousand RMB, representing a significant increase of 166.40% from a loss of 227,605 thousand RMB in the previous year[6]. - The company's EBITDA for Q1 2025 was 1,030,712 thousand RMB, reflecting a year-on-year increase of 20.45% from 855,727 thousand RMB[14]. - Q1 2025 gross profit and gross margin improved year-on-year, primarily due to lower costs of newly sold inventory, outweighing negative impacts from price declines and exchange rate fluctuations[19]. - Operating revenue for the current period was 7,172,735 thousand yuan, a decrease of 4.5% compared to 7,508,899 thousand yuan in the previous period[31]. - Net profit for the current period was 151,131 thousand yuan, a significant recovery from a net loss of 227,605 thousand yuan in the previous period[31]. - The company achieved a gross profit margin of approximately 27.2%, up from 24.4% in the previous period[31]. - The total comprehensive income for the current period was 142,621 thousand yuan, compared to a loss of 255,592 thousand yuan in the previous period[31]. - The company’s basic earnings per share improved to 0.065 yuan from a loss of 0.098 yuan per share in the previous period[31]. Cash Flow and Financial Position - The net cash flow from operating activities improved by 71.86%, reaching (206,868) thousand RMB compared to (735,162) thousand RMB in the same period last year[6]. - The company reported a negative cash flow from operating activities of (206,868) thousand yuan, an improvement from (735,162) thousand yuan in the previous period[33]. - Cash and cash equivalents at the end of the period totaled 3,636,561 thousand yuan, slightly down from 3,678,954 thousand yuan in the previous period[33]. - The company experienced a net cash inflow from financing activities of 523,198 thousand yuan, a significant increase from 16,793 thousand yuan in the previous period[33]. - The company's total assets increased by 1.95% to 51,033,738 thousand RMB from 50,059,777 thousand RMB at the end of the previous year[6]. - As of March 31, 2025, total current assets amount to 26,987,991 thousand RMB, an increase from 25,917,390 thousand RMB as of December 31, 2024[30]. - Total current liabilities are reported at 19,103,007 thousand RMB, up from 18,013,457 thousand RMB in the previous period[30]. - Non-current assets total 24,045,747 thousand RMB, slightly down from 24,142,387 thousand RMB[30]. - The company's total liabilities amount to 31,899,093 thousand RMB, an increase from 31,068,683 thousand RMB[30]. - The equity attributable to the parent company totals 19,134,645 thousand RMB, up from 18,991,094 thousand RMB[30]. Market and Sales Performance - Sales in North America increased by 15% to 219 million USD compared to 191 million USD in Q1 2024, while sales in Latin America decreased by 23% to 147 million USD[17]. - North America consumer and professional solutions business sales significantly increased in Q1 2025 compared to the same period in 2024, maintaining strong profit performance[18]. - Brazil's Q1 2025 sales decreased year-on-year due to declining prices and sales, influenced by the weak Brazilian real against the US dollar[18]. - In the Asia-Pacific region, sales outside of China declined year-on-year due to pricing pressure from oversupply of products from China, while sales in China increased year-on-year[18]. - The overall market environment for agricultural products remained challenging, with prices continuing to decline, impacting farmer income and purchasing behavior[11]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 41,269, including 29,480 A-share shareholders and 11,789 B-share shareholders[27]. - The largest shareholder, Syngenta Group Co., Ltd., holds 78.47% of the shares, amounting to 1,828,137,961 shares[27]. - The company has no changes in the shareholding structure of the top 10 shareholders due to securities lending or borrowing[27]. Strategic Initiatives - The "Fengjin" transformation plan was initiated in early 2024, aiming to enhance profits and improve cash flow over three years through financial management optimization, operational restructuring, and deepening value innovation[13]. - Operating expenses in Q1 2025 increased year-on-year due to restructuring and consulting costs related to the "Advancement" transformation plan, with non-operating items impacting reported operating expenses totaling RMB 177 million (USD 25 million)[20]. - There are no significant new strategies or product developments mentioned in the conference call[28]. Other Financial Metrics - The average return on equity was 0.79%, an improvement of 1.84% from (1.04%) in the previous year[6]. - The company reported a total of 49,596 thousand RMB in non-recurring gains, after accounting for tax effects[8]. - Research and development expenses were 103,844 thousand yuan, a decrease of 7.5% from 111,852 thousand yuan in the previous period[31]. - The company reported an increase in investment income to 4,671 thousand yuan from 4,283 thousand yuan in the previous period[31]. - Financial expenses in Q1 2025 decreased to RMB 37.4 million (USD 5.2 million) from RMB 516 million (USD 73 million) in Q1 2024, mainly due to reduced hedging costs and improved cash flow management[21][22]. - The company reported a tax benefit in Q1 2025, primarily due to the appreciation of the Brazilian real against the US dollar affecting the value of non-monetary tax assets[23]. - Derivative financial assets decreased by 85.02% year-on-year to RMB 72.5 million, mainly due to the revaluation of derivative instruments[24]. - Other receivables increased by 66.18% year-on-year to RMB 1.91 billion, primarily due to an asset securitization project[24]. - Derivative financial liabilities increased by 58.30% year-on-year to RMB 440.99 million, also due to the revaluation of derivative instruments[24].