Cheung Kong's strong financial capability is founded on in its well-established capital structure, sound liquidity and reasonably low debt ratio. High long-term credit ratings were given to the Company in recognition of these advantages, which help facilitate its financing activities and enhance its financial flexibility. Cheung Kong's solid financial foundation allows it to seize suitable business opportunities quickly in order to maximise shareholder value. Cheung Kong has been able to meet different challenges and opportunities over the years, guided by well-defined objectives and strategies of the management. Our mindset is not confined to the traditional set of values and perspectives. We pursue ongoing innovation and improvement, and continue to cultivate a corporate culture based on intelligence and creativity. Cheung Kong is gearing up for the fast-changing environment in the knowledge-based era. It aims to sharpen its international competitive edge with stronger market alertness and responsiveness, better cost control and higher operational efficiency.