titan (1192) in recent years due to the he**y debt which the weak share price, but the last two years ** hard to d**count redemption through to new debt for old debt, placing and cash in an old vessel model to alleviate the massive debt, the future in recent years, a strong focus on rehabilitation of the storage industry from its share price weakness of a wash, 0.6 yuan in the vicinity of the earlier of stability and can be from 0.8 to 0.9 yuan next target. an active debt relief. titan has been loss of 1.6 billion yuan in 2008, then intention to terminate the oil trading business, and further massive cash old vessels, and the aggregate principal amount of senior notes repurchased off nearly 7 million, subject to performance improvement takes time, as at last year's 9 the first three quarters ending on, still loss attributable to shareholders reached 306 million yuan, the annual results announced in mid-, nor expectations. even so, however, financial difficulties th** year, titan shall provide much relief, the first since last july re-sold four old vessels, cash 537 million yuan, although recorded a significant loss, but set back the cash ** the key. meanwhile, the group further 2.44 billion yuan note holders combination offer, holders of 1000 u.s. dollars per instrument, in exchange for 199 u.s. dollars in denominations due in 2015, 8.5% per annum of new notes, 3,075 shares (a price 0.22 yuan per share ) and 12.5 u.s. dollars in cash, th** calculation, bills to three fold back system, if fully accepted, will enable 1.7 billion debt greatly reduced, while the offer expired in last thursday, the result will soon be clear. in addition, the group recently re-placement of 0.37 yuan per share, one billion new shares to an investment fund, ra**ed 370 million yuan, in other words, sale of shares in the sale of vessels and fund-ra**ing operation can be made nearly 900 million yuan in cash, and the other instruments are also opportunity to 1.7 billion of debt greatly reduced. second, to actively develop new business. debt relief, the titan ** focused on the development of singapore and malaysia floating storage, and storage terminals in china quanzhou shipyard in business with the mount, and has expanded to six super-floating storage tankers, and fujian, 100,000 tons-level terminal building at the end of completed, with nansha two new chemical storage, total storage capacity of the mainland added in 2008 1.45 times compared. last year, titan, together with warburg pincus to invest up to china's 313 million warehouse, to a total capacity of about 1.1 million cubic meters to about 2.6 million cubic meters large. based on a strong position, f**orable stock price continued to break sprint, next to the 2007 level of 0.8 to 0.9 yuan as the target. 20210311