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Yuexiu Property 2011 Annual Results Presentation

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Expenses Ratio<br />

Administrative Expenses<br />

Selling and Marketing Costs<br />

12.0%<br />

9.0%<br />

10.5%<br />

8.5%<br />

7.2%<br />

5.0%<br />

4.0%<br />

3.0%<br />

3.8%<br />

3.1%<br />

2.5%<br />

6.0%<br />

2.0%<br />

3.0%<br />

1.0%<br />

0.0%<br />

2009 2010 <strong>2011</strong><br />

0.0%<br />

2009 2010 <strong>2011</strong><br />

Administrative Expenses Ratio =<br />

Administrative Expenses/Total Revenue<br />

Selling Expenses Ratio =<br />

Selling and Marketing Costs/Total Revenue<br />

10

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