Sanonda

Hubei Sanonda Co., Ltd. is a Chinese pesticide producer, based in Jingzhou, Hubei Province. As at 31 December 2016, state-owned enterprise ChemChina via Sanonda Group (A share) and Adama Agricultural Solutions (B share) owned a combined 30.75% stake.[1] It was followed by the Government of Qichun County (0.70%).[1] A share accounted for 61.27% share capital, comparing to 38.73% for B share (domestically traded share for foreigner in mainland China).[1]

Sanonda
TypePublic
Founded
  • 1958 (1958)
  • 1992 (1992) (as limited company)
Headquarters
Jingzhou, Hubei Province
,
China
Area served
China
Key people
An Li-Ru (Chairman)
RevenueDecrease CN¥1.855 billion (2016)
Decrease (CN¥0120 million) (2016)
Decrease (CN¥0074 million) (2016)
Total assetsIncrease CN¥2.984 billion (2016)
Total equityDecrease CN¥2.005 billion (2016)
Owner
Chinese Central Government (via ChemChina)(30.75%)
Government of Qichun County(0.70%)
ParentChemChina
Websitesanonda.cn
Footnotes / references
in consolidated financial statement[1]
Hubei Sanonda Co., Ltd.
Simplified Chinese湖北沙隆达股份有限公司
Traditional Chinese湖北沙隆達股份有限公司
Sanonda
Simplified Chinese沙隆达
Traditional Chinese沙隆達

In 2016, a plan to acquire 100% stake of Adama Agricultural Solutions from ChemChina was announced, by issuing new shares to ChemChina and a private equity fund (Chinese: 芜湖信运汉石) that related to China Cinda. The B share held by ADAMA (which would become treasury stock) would be canceled.[2] After the deal ChemChina would owned over 70% stake.[2] As China Cinda was also owned by the State Council indirectly (via the Ministry of Finance). The total stake held by the Central Government of China was unknown.

History

The predecessor of Hubei Sanonda Co., Ltd. was found in 1958. In 1992 the company was re-incorporated as company limited by shares (Chinese: 股份有限公司), under the new Company Law of China as part of marketization (State Council allowed corporation to issue shares since 1986). in 1993 the shares of the company started to float on Shenzhen Stock Exchange. Shashi Government (Shashi later merged to form Jingzhou) was the major shareholder for 52.35% stake. In 1996, Sanonda Group (Chinese: 沙隆达集团, now known as Sanonda Holdings, Chinese: 沙隆达控股) was formed as an intermediate holding company for Jingzhou Government for 44.66% stake, with the Government of Qichun County acquired a minority stake from the Government of Jingzhou in 1995.

In 2005 ChemChina became the largest shareholder by acquiring 100% share of Sanonda Group, which owned 20.57% stake of Sanonda at that time.[3]

Adama Agricultural Solutions acquired part of the B share (shares for foreigner which float in mainland China) of Sanonda in 2013 (about 10.6% of total share capital),[4] at that time ChemChina (via wholly owned subsidiary China National Agrochemical Corporation) owned 60% Adama's stake.

References
  1. "2016 Annual Report" (PDF). Sanonda (in Chinese). Shenzhen Stock Exchange. 6 April 2017. Retrieved 7 April 2017.
  2. "发行股份购买资产并募集配套资金暨关联交易预案" [Issuing new shares for acquiring and related-parties deal] (PDF). Sanonda (in Chinese). Shenzhen Stock Exchange. 15 October 2016. Retrieved 27 October 2016.
  3. "2015年审计报告" [2015 Auditor's Report] (PDF). Sanonda (in Chinese). Shenzhen Stock Exchange.
  4. "ADAMA Crosses $3Bn Sales Mark: Reports Solid Business Momentum for Q4 & FY 2013" (PDF). ADAMA Agricultural Solutions. 9 March 2014. Retrieved 31 October 2016.
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