well I hope we dont get any more expansion into other areas this year, except for the 4 new urban markets in Q2 as per their PR. All the guidance for 2010 they have issued so far is also based on that premise. Everything is going by plan. That's also the only way Q3 and Q4 can be "blow out" quarters b/c SGA will come down with no further expansion.
Let's not forget China has over 30 provinces with hundreds of urban areas they need to expand into in order to keep up the growth. So the next few years I think we will see the same game repeated over and over: controlled expansion, dilution plus high SGA expenses resulting in less eps growth for a while, then blow out quarters as the new markets bring in additional revenue without incurring new SGA, maybe even some acquisitions that will boost revenue (and eps?) along the way. Rinse, repeat... that's how I see it.