Cathay Financial Holdings launched Phase One of its cloud migration project in 2021, achieving cloud readiness across four areas: infrastructure, applications, organization together with management and governance. Starting with the bank, we subsequently extended the project to our subsidiaries, including life insurance, property insurance and securities. In 2022, we initiated Phase Two of the large-scale cloud migration by using the Cathay 6R methodology to break through the challenges of migrating hundreds of systems across our subsidiaries. As the third year of our cloud transformation journey in 2023, we will share how we conquer challenges and difficulties in various aspects such as People, Process, Technology (PPT), information security and Legal & Compliance.