Honma Golf Limited 6858 9.3% 4.5% 6.9% 171.3% 51.0% 15.3% 15.1% 5.6% 4.0% 27.3% 10.5% 74.6% 18 22.8% 8.1% 48.2% 4.7% Honma 1
0.4% 25.7% 2,036.5 18.5 2.3 17.7% 92.2% 2,134.5 19.4 3,256.3 29.6 42.5% HONMA HONMA 50 2
BERES 06 BERES 2 BeZeal 535 BeZeal 5 22.9% 18.1% 8.1% 6 TOUR WORLD TW747 TW747 27.3% 10.5% 74.6% 4.5% 81.4% 6.9% 171.3% 9.6% 768.7 331.0 48.2% 2019 4.7% 3
Honma Honma 360 50% 105 9.3% 115 9.5% 4
BERES TOUR WORLD BeZEAL BERES 2 2 TOUR WORLD 6 BeZEAL 5 5 6 5
HONMA (1) (a) (b) 68 HONMA... 32 32... 48 1 17 32... 4 4... 84 1 17 68 6
17 3,615 (a) (b) 1,399 Golf 5 Xebio 163,000 255 24 32 HONMA 50% 7
853 2,459.2 25.4 2.3 13.1 10.0 HONMA Honma Honma Honma 8
HONMA 360 HONMA HONMA TOUR WORLD BeZeal HONMA 2 5 6 BeZeal 535 BeZeal 5 TOUR WORLD TW747 TW747 9
5 6 (i) (ii) (iii) Honma (iv) 193.1 174.5 (i) BERES 06 BERES 2 (ii)bezeal 535 BeZeal 5 22.9% 18.1% ERP 10
1,500,000 2,500,000 10.8% 0.6% 24% 19% (Tiger Effects) (Valsper Championship) 190% 11
Golf Datatech 12
% % %... 11,503,203 100.0 10,521,806 100.0 9.3... (4,707,098) (40.9) (4,340,410) (41.3) 8.4... 6,796,105 59.1 6,181,396 58.7 9.9... 762,586 6.6 140,354 1.3 443.3... (4,024,775) (35.0) (3,943,688) (37.5) 2.1... (791,420) (6.9) (717,730) (6.8) 10.3... (8,732) (0.1) (253,431) (2.4) (96.6)... (5,422) (18,061) (0.2) (70.0)... 36,600 0.3 72,707 0.7 (49.7)... 2,764,942 24.0 1,461,547 13.9 89.2... (630,464) (5.5) (351,219) (3.3) 79.5... 2,134,478 18.6 1,110,328 10.6 92.2... 3.50 1.82 92.2 SG&A (1)... 4,793,056 41.7 4,618,506 43.9 3.8 (2)... 2,036,456 17.7 1,620,130 15.4 25.7 (3)... 1,425,084 12.4 1,234,988 11.7 15.4 13
(1) (a) (b) SG&A SG&A (a) (b) SG&A (2) (i) (ii) (iii) (3) (i) (ii) (iii) (iv) 10,521.8 9.3% 11,503.2 9.5% 14
HONMA (1) % % % %... 9,369,496 81.5 8,666,283 82.4 8.1 8.3... 649,657 5.6 438,226 4.2 48.2 48.4 (2)... 1,484,049 12.9 1,417,297 13.4 4.7 4.8... 11,503,203 100.0 10,521,806 100.0 9.3 9.5 (1) (2) 15
8,666.3 8.1% 9,369.5 8.3% BERES 06 BERES BeZeal 535 BeZeal 5 22.9% 18.1% 438.2 48.2% 649.7 48.4% 1,417.3 4.7% 1,484.0 4.8% 2019 16
50 (1) % % % %... 5,869,281 51.0 5,680,039 54.0 3.3 3.3... 1,760,641 15.3 1,314,180 12.5 34.0 34.0.. 1,735,258 15.1 1,967,028 18.7 (11.8) (11.4)... 641,034 5.6 599,611 5.7 6.9 7.6... 458,606 4.0 169,064 1.6 171.3 175.9... 1,038,383 9.0 791,884 7.5 31.1 31.5... 11,503,203 100.0 10,521,806 100.0 9.3 9.5 (1) 81.4% 5,680.0 3.3% 5,869.3 17.0% 2 17.7% 17
1,314.2 34.0% 1,760.6 HONMA BERES BeZEAL 1,967.0 11.8% 1,735.3 11.4% 17 599.6 6.9% 641.0 7.6% 169.1 171.3% 458.6 175.9% HONMA (a) (b) 18
(1) % % % %... 2,919,574 25.4 3,779,743 35.9 (22.8) (22.6).. 8,583,629 74.6 6,742,063 64.1 27.3 27.6... 11,503,203 100.0 10,521,806 100.0 9.3 9.5 (1) 3,779.7 22.8% 2,919.6 18 6,742.1 27.3% 8,583.6 19
4,340.4 8.4% 4,707.1 % %... 2,505,683 53.2 2,282,713 52.4... 666,933 14.2 693,298 16.0 (1)... 296,256 6.3 228,007 5.4... 1,238,226 26.3 1,136,392 26.2... 4,707,098 100.0 4,340,410 100.0 (1) 6,181.4 9.9% 6,796.1 58.7% 59.1% 20
% %... 5,782,126 61.7 5,343,168 61.7... 325,319 50.1 224,368 51.2 (1)... 688,660 46.4 613,860 43.3... 6,796,105 59.1 6,181,396 58.7 (1) 5,343.2 8.2% 5,782.1 61.7% 224.4 45.0% 325.3 51.2% 50.1% 613.9 12.2% 688.7 43.3% 46.4% 21
140.4 762.6 715.5 3,943.7 2.1% 4,024.8 37.5% 35.0% % %... 1,513,372 37.6 1,531,057 38.8... 1,135,424 28.2 1,164,665 29.5... 653,503 16.2 694,367 17.6 (1)... 722,476 18.0 553,599 14.1... 4,024,775 100.0 3,943,688 100.0 (1) 717.7 10.3% 791.4 SAP SAP 22
253.4 96.6% 8.7 18.1 70.0% 5.4 72.7 49.7% 36.6 1,461.5 89.2% 2,764.9 351.2 79.5% 630.5 24.0% 22.8% 1,110.3 92.2% 2,134.5 10.6% 18.6% 23
SG&A SG&A SG&A SG&A (a) (b) SG&A SG&A (a) (b)... 4,024,775 3,943,688... 791,420 717,730... (23,139) (42,912) SG&A... 4,793,056 4,618,506 24
(i) (ii) (iii)... 2,764,942 1,461,547... (762,586) (140,354)... 8,732 253,431... 25,368 45,506... 2,036,456 1,620,130 (i) (ii) (iii) (iv) (i) (ii)... 2,134,478 1,110,328... (762,586) (140,354)... 8,732 253,431... 25,368 45,506... 19,092 (33,923)... 1,425,084 1,234,988 25
(1)... 248 232 (2)... 63 96 (3)... 35 30 (1) 365 (2) 365 (3) 365 26
... 3,650,345 2,776,492... 822,275 818,854... 4,666,876 3,628,450... (528,151) (416,801)... 8,611,345 6,806,995 1... 3,457,106 3,713,065 1 2... 2,709,702 1,608,077 2 3... 1,232,008 888,229 3 4... 779,928 236,740 4... 432,601 360,884... 8,611,345 6,806,995 18 24 27
18,443.9 3,000.0 0.33% 0.50% (i) (ii) 8.9% 10.6% 185.1 28
16,798.4 (1) (%) (%) (%)... 29.4 4,939 29.4... 15.1 2,536 13.8 1.3... 15.1 2,536 14.8 0.3... 13.0 2,184 5.8 7.2... 17.3 2,906 17.1 0.2... 10.1 1,697 10.1... 100.0 16,798 61.6 38.4 29
(1) 6,450.4 1.00 110.0 2410 30
4 11,503,203 10,521,806 (4,707,098) (4,340,410) 6,796,105 6,181,396 4 762,586 140,354 (4,024,775) (3,943,688) (791,420) (717,730) (8,732) (253,431) 5 (5,422) (18,061) 36,600 72,707 6 2,764,942 1,461,547 7 (630,464) (351,219) 2,134,478 1,110,328 2,134,365 1,111,393 113 (1,065) 2,134,478 1,110,328 8 3.50 1.82 31
2,134,478 1,110,328 1,313 7 (405) 908 (4,404) 27,693 (4,404) 28,601 17 138,255 128,673 (42,334) (39,400) 95,921 89,273 312 7 (96) 216 96,137 89,273 91,733 117,874 2,226,211 1,228,202 2,226,098 1,229,267 113 (1,065) 2,226,211 1,228,202 32
10 1,838,389 1,918,773 11 1,940,789 1,940,789 357,520 406,722 529,950 651,954 844,775 920,242 5,511,423 5,838,480 12 8,611,345 6,806,995 13 5,382,487 8,790,023 993,485 602,740 21(c) 7,639 7,851 14 18,443,899 14,147,319 33,438,855 30,354,928 15 1,433,163 997,546 3,179,925 1,737,833 16 3,000,000 2,500,000 21(c) 21,491 6,656 1,493,641 1,121,239 9,128,220 6,363,274 24,310,635 23,991,654 29,822,058 29,830,134 33
17 1,141,797 1,275,525 336,388 489,218 54,613 60,478 1,532,798 1,825,221 28,289,260 28,004,913 18 154 154 28,334,114 28,049,880 28,334,268 28,050,034 (45,008) (45,121) 28,289,260 28,004,913 34
2,764,942 1,461,547 6 6 111,350 87,790 6 8,621 (251) 6 (40) (1,080) 6 28,681 6 174,190 149,076 6 52,575 36,642 17 41,873 45,995 19 25,368 45,506 (723,350) (99,274) 5 5,422 18,061 (36,600) (72,707) 2,424,351 1,699,986 (1,915,700) 290,951 3,398,915 1,132,648 (390,745) (312,897) 212 7,508 122,316 73,450 435,617 (84,639) (451,833) (14,571) 14,835 20,252 (5,865) (19,875) 17 (37,346) (184,479) 3,594,757 2,608,334 36,600 72,707 (5,422) (18,061) (15,193) (150,294) (354,455) (227,733) 3,256,287 2,284,953 35
(185,078) (201,737) 12,196 12,815 (172,882) (188,922) 28,900,000 13,238,203 (28,400,000) (12,079,490) 500,000 1,158,713 3,583,405 3,254,744 14,147,319 12,712,506 713,175 124,742 14 18,443,899 16,091,992 14 18,443,899 16,091,992 36
1. Maples Corporate Services Limited PO Box 309, Ugland House, Grand Cayman KY1-1104, Cayman Islands Kouunn Holdings Limited 2.1 34 2.2 2 4 9 15 15 40 22 4 9 15 1 28 37
15 9 34 15 15 11 18 15 15 15 11 18 4 11 18 15 4 9 9 39 9 39 9 38
9 39 39 9 39 9 39 9 9 9 9 39
3. 5,869,281 5,680,039 1,760,641 1,314,180 1,735,258 1,967,028 641,034 599,611 458,606 169,064 1,038,383 791,884 11,503,203 10,521,806 1,490,443,000 1,099,567,0000 40
4. 11,458,773 10,441,178 44,430 80,628 11,503,203 10,521,806 715,536 104,373 13,681 40 1,080 850 186 32,479 34,715 762,586 140,354 15 11,458,773 44,430 11,503,203 11,458,773 44,430 11,503,203 41
3 5. 5,422 18,061 6. 4,678,128 4,314,551 28,970 25,859 10 174,190 149,076 52,575 36,642 174,486 193,148 10 8,621 (251) 609,899 630,195 39,892 52,085 1,887,106 1,859,948 145,567 137,452 17 41,873 45,995 243,359 303,597 115,925 47,479 19 25,368 45,506 4 (715,536) (104,373) 111,350 87,790 4 (40) (1,080) 28,861 42
7. 16.5% 30.62% 30.86% 300,000 300,000 12% 17% 20% 25% 27.55% 34% 8.28% 8.28% 267,920 20,342 317,930 235,067 11,212 156,200 137,100 (111,586) (52,502) 630,464 351,219 43
8. 2,134,365 1,111,393 609,050 609,050 9. 1,967,232,000 10. 108,247,000 105,828,000 174,190,000 149,076,000 12,156,000 11,735,000 40,000 1,080,000 44
11. 1,940,789,000 Honma Golf Co., Ltd. 12. 3,650,345 2,776,492 822,275 818,854 4,666,876 3,628,450 9,139,496 7,223,796 (528,151) (416,801) 8,611,345 6,806,995 13. 5,051,777 8,502,340 393,860 342,212 5,445,637 8,844,552 (63,150) (54,529) 5,382,487 8,790,023 30 140 45
1 2,844,910 6,109,132 1 3 1,397,634 1,334,466 3 12 729,126 939,841 1 16,957 64,372 4,988,627 8,447,811 14. 18,443,899 14,147,319 15. 1,433,163 997,546 1,426,555 988,212 6,608 9,334 1,433,163 997,546 46
16. 3,000,000 2,500,000 3,000,000 2,500,000 0.33%-0.50% 0.33%-0.50% 17. 1,141,797 1,275,525 60 47
Mizuho Trust & Banking Co., Ltd. 39,756 42,915 2,117 3,080 41,873 45,995 15,033 21,743 13,287 12,006 13,553 12,246 41,873 45,995 48
6 3,454,031 39,756 5,776 45,532 (81,911) (35,236) (35,236) 3,382,416 (2,178,506) (3,659) (3,659) 44,565 (103,019) (103,019) (2,240,619) 1,275,525 39,756 2,117 41,873 (37,346) (103,019) (35,236) (138,255) 1,141,797 6 4,007,717 44,025 7,501 51,526 (367,459) 10,370 10,370 3,702,154 (2,351,177) (1,110) (4,421) (5,531) 182,980 (139,043) (139,043) (2,312,771) 1,656,540 42,915 3,080 45,995 (184,479) (139,043) 10,370 (128,673) 1,389,383 49
1,202,658 1,102,106 848,739 884,460 140,568 131,550 48,654 60,390 2,240,619 2,178,506 0.44% 0.34% 1.80% 1.80% 2.20% 2.20% 0.5% (153,833) (153,567) 0.5% 152,707 153,567 50
8.6 8.6 2,240,619,000 2,178,506,000 66% 63% 1,141,797,000 1,275,525,000 18. 20,000,000,000 0.0000025 609,050,000 1,523 1,523 154,000 154,000 50,000 50,000 1.00 1,000 1.00 400,000 0.0000025 1,000 400,000,000 0.0000025 50,000 20,000,000,000 0.0000025 187.6 20,000 75,059,000 0.0000025 1,187.6 475,059,000 0.0000025 10 133,991,000 0.0000025 1,339,910,000 17,476,557,000 678,234,439 51
19. 17,554,550 952,250 40% 30% 12 30% 24 286,042 40% 30% 30% 318,396 50% 50% 381,030 52
9,347,488 10,303,410 318,396 (354,432) (988,276) (381,030) (286,042) (4,380,308) 4,231,718 9,347,488 25,368,000 45,506,000 20. 769,932 700,660 845,024 492,791 35,149 4,009 1,650,105 1,197,460 53
21. (a) (b) (i) 14,327 17,525 (i) A (c) 7,639 7,851 21,491 6,656 54
(d) 44,712 47,159 3,793 4,180 48,505 51,339 22. 8,790,023 14,147,319 169,767 7,851 516,191 23,631,151 19,554 55
5,382,487 18,443,899 324,613 7,639 393,545 24,552,183 19,866 1,433,163 997,546 21,491 6,656 3,000,000 2,500,000 2,578,297 1,146,119 1,135 1,135 7,034,086 4,651,456 56
23. 57
19,766 100 19,866 19,454 100 19,554 24. 25. 58
A.2.1 A.2.1 59
(www.hkexnews.hk) (www.honma. hk) Honma Golf Limited 60