ADAMA Ltd. reported resilient first-half 2026 results despite continued pressure in the crop protection market, with sales holding broadly flat at about $2.1 billion and net profit attributable to shareholders reaching 433 million yuan, reversing a loss a year earlier. Revenue was 14.48 billion yuan, down 3.65% year on year, as the company reduced manufacturing and sales of certain basic chemicals and low-margin products while weak farm economics and pesticide oversupply in China kept product prices under pressure. Earnings quality improved, with recurring net profit after non-recurring items rising 153.85% to 81 million yuan and basic earnings per share at 0.1857 yuan. ADAMA said gross margin improved on favorable exchange rates, higher sales volumes and a better business mix, partly offsetting lower prices and rising costs. Channel inventories remained low and demand stayed healthy in the first half, though pricing pressure persisted. Net operating cash flow fell 61.47% to 670 million yuan, highlighting continued pressure on working capital and collections even as profitability recovered.