房地产行业盈利模式专题报告之四：合区域布局，差别发挥能力

2012927???20092012????AEPS/PENAV11A12E13E14E11A12E13E14EA7.799.650.881.121.461.58.856.965.345.194.698.260.670.770.930.997.006.095.044.7410.0318.570.921.201.632.2110.948.366.154.5419.5126.031.512.092.993.8112.929.336.535.129.0218.791.261.331.662.517.166.785.433.593.365.730.230.280.310.4214.6112.0010.848.008.7513.620.801.091.41.4610.948.036.255.998.159.490.821.121.491.989.947.285.474.124.807.190.680.780.891.137.066.155.394.256.8913.000.580.971.461.4811.887.104.724.6610.137.816.125.022012926010-60838249chencong@citics.comS1010510120047010-60836707yufu@citics.comS1010512080008010-60836719baosj@citics.com010-60836722yangpan@citics.com?1001020304012/1/412/4/412/7/43001—2011-8-52—2011-10-103—.......2011-11-2842012—.....2012-12-7http://www.microbell.com...