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Investor Presentaiton

Financials Focus on cost control - Components of total operating expenses as a % of revenue Employee benefits Advertising & promotion Rent and occupancy Royalty □ Depreciation & amortization Others 20.0% 18.6% 18.4% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 17.7% 16.6% 4.0% 2.0% 0.0% 2015 2016 2017 2018 5.8% 5.8% 5.4% 5.0% 3.6% 5.1% 5.0% 4.7% 2.9% 2.5% 2.4% 2.3% 1.5% 1.1% 1.1% 1.3% 0.8% 0.6% 0.6% 0.5% 4.0% 3.3% 3.3% 2.7% Notes: 1. For 12 months ended 31 December 2018 2. Others comprises items such as product guarantee costs, travel and vehicle costs, bad debts and other sundry expenses S 16
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