We provide an update to our last report, Transition to power segment continues, dated March 23, 2020. To recap, HDG operates in four key segments: (1) real estate, (2) power, (3) construction and (4) hotel & leasing. HDG’s full-year 2019 gross profit was primarily generated from real estate with an estimated contribution of 68%, followed by power at 23%, hotel & leasing at 8% and construction at 1%.