We believe that looking ahead to 2009, the transportation business will be affected by rising fuel prices, and revenue will drop drastically, and the addition of new ships will cause the company's operating costs to continue to rise; the communications business has grown quite a bit, but the overall contribution to the company's operations is small. The company's business focus has gradually shifted to Chongming Island tourism and ecological city construction, and the construction of the Shanghai-Chongming Tunnel will have a huge impact on the company's business. We estimate that the company's revenue in 2009 and 2010 will be 567 million and 73.1 million yuan, respectively, with net profit of 41 million yuan and 81 million yuan, respectively, and earnings per share of 0.13 yuan and 0.25 yuan respectively. We believe that the company's performance will rise across the board from 2009 to 2010. Currently, the stock price will reach 71 times and 36 times PE in 2009 and 2010. We are valuing 35 times PE in 2009, and the stock reference price is 8.75 yuan. Currently, the stock price is reasonable. We will continue to maintain our “neutral” rating.