On 29 September 2017, Hubei Sanonda Co., Ltd. (Sanonda) made an announcement that the merged company, following the merger between ADAMA (ADAMA Agricultural Solutions Ltd.) and Sanonda, appointed new directors and managerial team. This marked the successful incorporation of the 2 companies and the listing.
On 10th January, 2017, Hubei Sanonda Co., Ltd. (Sanonda) issued a draft and said that it had issued shares to China National Agrochemical Corporation (CNAC) officially, in exchange for its 100% shares of ADAMA Agricultural Solutions Ltd. (ADAMA). The ADAMA’s 100% shares will be transferred to Sanonda or its subsidiary. Upon completion of the transaction, ADAMA will also become a subsidiary of Sanonda. Based on the evaluation of 100% equity in ADAMA and the results of negotiation, the 100% equity in ADAMA was valued at USD2.67 billion (RMB18,471,006,998.16).
On 27th October, 2016, Hubei Sanonda Co., Ltd. (Sanonda) released the third-quarter report in 2016. In the first three quarters, Sanonda achieved operating income of USD213.1 million, down by 19.8% year on year while the net margin for shareholders of the listed company was USD3.0 million, down by 86.1% compared to the same period of last year.
Hubei Sanonda Co., Ltd. (Sanonda) published its semi-annual report for 2016, according to which the company’s revenue and net profit were USD151.7 million and USD2.5 million, which fell by 18.6% and 85.6% year on year respectively.
On 26 December, 2015, Hubei Sanonda Co., Ltd. (Sanonda) announced the approval of the Proposal to Adjust Pesticide Formulations Sales Business, to sign 3 agreements with ADAMA (Beijing) Agriculture Technology Co., Ltd. (ADAMA Beijing), including the Agreement on Sole Agency of Pesticide Formulations, Agreement on Sole Distribution of Pesticide Formulations and Agreement on Staff Transfer and Settlement. After the transaction, Sanonda’s all pesticide formulations will be distributed by ADAMA Beijing, and Sanonda will no longer keep its domestic sales team for pesticide formulations.
On 5 August, 2015, Hubei Sanonda Co., Ltd. (Sanonda) released the semi-annual financial report.
- Revenue: USD201.9 million, down by 27.4% YoY and only 37.4% of the expected full-year figure
- Net profit: USD19.2 million, down by 59.2% YoY
On 25 June, 2015, Hubei Sanonda Co., Ltd. (Sanonda) held a meeting with Jingzhou Government, Hubei Province about its factory relocation. It was confirmed in the meeting that Sanonda’s factory in Jingzhou Development Zone will be relocated before the end of 2018.
On 21 Oct., 2014, Hubei Sanonda Co., Ltd. (Sanonda),a listed pesticide enterprise in China, released its Q3 financial report of 2014. Its revenue and net profit in this period reached USD141.1 million and USD22.69 million, up 17.7% and 118.0% over Q3 2013.
On 23 Sept., 2014, Hubei Sanonda Co., Ltd. (Sanonda) received a notice from China National Agrochemical Corporation (China National Agrochemical) that the latter plans to transfer its 100% shares in Jingzhou Sanonda Co., Ltd. (Jingzhou Sanonda) to Sinochem International Corporation (Sinochem International).
On 25 July, 2014, Hubei Sanonda Co., Ltd. (Hubei Sanonda) published its H1 2014 report. During the report period, the company realized a revenue of USD276.26 million, up by 11.88% year on year; its net profit was USD46.86 million, sharply increasing by 126.25% year on year.
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