 2020 has clearly been a challenging year for everyone, but for the role of boards, board directors and independent directors, they faced even more scrutiny. Directors have found themselves on the front line in a complex macro environment, where new perspectives are needed to help companies maintain and ideally improve performance. The 2021 Hong Kong Board Monitor results are significant, as they show incredible progress of gender diversity in Hong Kong's boardroom. In just one year, we've seen female representation in the boardrooms of the top 50 Hangseng listed companies jump from 6% to a record high of 24%. 42 new directors were added in 2020, that's 20% more than the year previously. The average age is still 58, the same as in 2019. However, interestingly, two-thirds of them are still active executives. Whilst there are less current former CEOs taking board seats, more CFOs are joining boards. Experience continues to be highly valued in 2020. Two-thirds of new directors have prior board experience compared to just half the year before. As companies face increasingly challenging times, boards are appointing directors with expertise beyond the traditional skill set. We've seen significant increases of those with international backgrounds and experiences in the areas of digital or social media, sustainability, and of course diversity and inclusion. We believe these trends are here to stay. What is clear is that board members are being asked to take on more frontline roles in shaping, supporting and pushing their organization's purpose and growth. This naturally requires more time, energy and commitment, but it's these experiences that ultimately enable them to make sound and swift decisions that will make a long-term difference to a company's future. Please read the full 2021 Hong Kong Board Monitor Report on the HydroXcom Struggles website.