Results for the third quarter of 2013 were better than expected. It is mainly due to factors such as an increase in revenue from port trade operations during the period and an increase in tank rental rates. Excluding the influence of trade business, operating income increased 10.2% year over year. During the period, container terminal throughput increased 23.0% year on year, and oil and liquid chemical terminal throughput increased 16.6%. Among them, the increase in the tank business has also boosted the throughput of oil terminals. In the third quarter, container throughput increased 23.0% year on year, and oil throughput increased 16.6% year on year. The total throughput of oil products and liquid chemicals in the first three quarters was 31.266 million tons, up 11.0% year on year. The LNG and crude oil transit business is developing well. The 2013-2015 profit forecast was raised. To reflect better-than-expected third-quarter results, the 2013-2015 profit forecasts were raised to 9.7%, 10.9% and 10.7% to RMB700 million, RMB746 million and RMB785 million. Maintaining the “neutral” rating, the target price was raised to HK$1.90. We think the current valuation of the company is reasonable, but there aren't many opportunities right now. Maintaining a “neutral” rating, the target price was raised to HK$1.90 to reflect the higher performance forecast, which is equivalent to 9.5 times, 8.9 times and 8.5 times the 2013-2015 price-earnings ratio and 0.5 times the 2013 P/B.