StockCode:000553(200553)                  Stockabbreviation:ADAMAA(B)
                        AnnouncementNo.:2019-7

                              ADAMALtd.

                  FullYear2018PerformanceEstimation

TheCompanyandallthedirectorsconfirmthattheinformationdisclosedistrue,accurate,completeandwithnofalserecording,misleadingstatementormaterialomission.
I.PerformanceEstimation
1.Estimationperiod:January1,2018�CDecember31,2018
2.Estimatedperformance:Stronggrowth

          Item            Currentreportingperiod  Sameperiodlastyear
                            JanuarytoDecember    JanuarytoDecember
                                    2018                  2017

                                                  aspreviouslyreported
  Netprofitattributabletothe  Profit:2,367.6�C2,505.9

  shareholdersofthelisted                              Profit:1,545.9

company(RMBinmillions)    Percentageofincrease

                            YoY53.15%-62.10%

Basicearningspershare(RMB)  Profit:0.9677�C1.0243      Profit:0.6601

II.Pre-auditoftheestimatedperformance
TheestimatedresultsofthisperiodarethepreliminaryestimationoftheCompanyandhavenotbeenauditednorreviewedbycertifiedaccountants.
III.ExplanationsforPerformanceVariation
Whencomparedtothereportednetprofitin2017,thesignificantincreaseintheestimatednetprofitintheconsolidatedpreliminary2018reportisduetothefollowingreasons:
1.  TheCompanyisexpectingtodeliveranotherfourthquarterofrecordsales,with
  double-digitgrowthinthequarterdrivingalsodouble-digitgrowthoverthefullyear.
  Theextremelystrongperformanceinthefourthquarterisexpectedtoresultinthe
  CompanysignificantlyexceedingallofitsQ42017recordsalesandadjustedprofit
  metrics,withsomeprofitmetricsuptensofpercentswhileothersmorethandoubled.
  TherobustfourthquarterisalsoexpectedtodrivetheCompanyoverthefullyear
  2018toexceedall2017recordsalesandadjustedprofitmetrics,otherthanNet

  Incomewhichisexpectedtobesomewhatlowerthantherecordachievedin2017,
  duetounusuallylowtaxexpensesin2017ontheonehand,comparedtohighertax
  expensesin2018ontheother.
2.  Inthefourthquarter,thestrongdouble-digitrevenuegrowthwasdrivenbya
  combinationofsignificantbusinessgrowthaswellashigherprices,somewhatoffset
  byadversecurrencyheadwinds.Especiallynoteworthyperformancewasdeliveredin
  Brazil,drivenbytherecentlaunchoftheCompany’sdistinctivethree-way
  combinationCRONNOS?fungicide,aswellasinotherpartsofLatinAmerica,
  NorthAmericaandNorthernEurope.Thestrongsalesgrowthinthequarterwas
  furthercomplementedbyacontinuedimprovementinportfoliomix,somewhat
  offsetbytheimpactofincreasedprocurementcosts,leadingtodouble-digitgrowth
  ingrossprofit.TightmanagementofoperatingexpensesensuredthattheCompany
  deliveredastrongincreaseinadjustedOperatingProfitandEBITDAinthequarter,
  bothinabsolutetermsandasapercentageofsales.Thisstrongoperating
  performance,alongsidefinancialexpensesinlinewiththoseofthesamequarterlast
  year,drovesignificantlyhigherPre-taxProfitandNetIncome.Thisstrongincrease
  inNetIncomewasachieveddespitetheincurringoftaxexpensesinthequarter,
  comparedtoataxincomeinthesamequarterlastyeardue,mainlytothecreationin
  Q42017ofdeferredtaxassetsinrespectoflossescarried-forwardandtiming
  differences,inanticipationoftheirexpectedutilization.
3.  Overthefullyearperiod,theCompanyisexpectingtodeliveranotheryearof
  all-time  high  sales,  recording  double-digit  revenue  growth.  Outstanding
  performanceswereachievedinBrazil,NorthAmericaandtheIndia,MiddleEastand
  Africaregion,alongsidestrong,double-digitgrowthintheCompany’sbranded,
  formulatedsalesinChina,aswellasmostothergeographiesworldwide.European
  revenueswereinlinewithlastyear’s,despiteaslowstarttotheseasonfollowedby
  extremedroughtconditionsinthethirdquarter.TheCompanysawrobustgrowthof
  itsdifferentiatedportfolio,complementedbyincreasedprices,whichoffsetthe
  increaseinprocurementcostsandthenegativeimpactofcurrencies.TheCompany
  expectstoreportEBITDAslightlyabovelastyear’sall-timerecordhigh.Duetothe
  highertaxexpenseswhencomparedtolastyear’srelativelylowtaxexpenses,
  adjustednetincomefortheyearisexpectedtobebetweenRMB1,351.1million�C
  RMB1,669.5million($253.7million-$233.7million),comparedtolastyear’s
  recordadjustednetincomeofRMB1,909.3million($280.1million).
4.  TheCompany’sreportedearningsin2018willbepositivelyimpactedbythe
  recognitionofaone-timeprofitinthefirstquarterof2018onthedivestitureof
  severalcropprotectionproductsinEuropeinconnectionwiththeapprovalbythe
  EUCommissionoftheacquisitionofSyngentabyChemChina.Theproceedsofthis
  divestiture,netoftaxesandtransactionexpenses,werepaidtoSyngentainreturnfor
  thetransferofaportfolioofproductsinEuropeofsimilarnatureandeconomic
  value.
5.  Partiallyoffsettingthisone-timeprofit,theCompany’sreportedearningsin2018

  willbeimpactedbycertainone-time/non-cashitems,includingthelegacy
  amortizationofthe2011PPAfortheacquisitionofAdamaAgriculturalSolutions
  Ltd.byChemChina;theamortizationofassetstransferredfromSyngenta,thevalue
  ofwhichwaswritten-up,relatedtothe2017ChemChinaacquisitionofSyngenta;
  Sanondafacilityrelocationandrelatednon-cashitems;andtherecordingof
  historicaltaxexpenses,themajoritythereofalreadyprovisioned,resultingfromthe
  finalizationoftaxassessmentsrelatingtoperiodsconcludingin2016.
IV.OtherRemarks
TheestimatedresultsaboveareonlypreliminarycalculationsperformedbythefinanceteamoftheCompanybasedonpreliminaryfinancialdataavailabletotheCompanyandhavenotbeenauditedorreviewedbytheCompany'sindependentauditors.Theseestimationsmaychange,interalia,asaresultoftheprocessingandanalysisofthefinancialdatathattheCompanywillperformforthepreparationofits2018financialstatements.Pleaserefertothe2018ReporttobedulydisclosedbytheCompanyonMarch20,2019forspecificandaccuratefinancialinformation.
MediaforInformationDisclosureoftheCompany:ChinaSecuritiesJournal,SecuritiesTimes,TaKungPao,andCninfo(www.cninfo.com.cn).InvestorSAReremindedtoexercisecautionwhenmakinginvestmentdecisions.

                                                  ByorderoftheBoard
                                                  ADAMALtd.

                                                  January23,2019