In 2001, CASH has inaugurated the annual CASH Golden Sail Music Awards in recognition of outstanding musical works as well as vocal performances of musical works first commercially released or performed in Hong Kong between 1 July 2001 to 30 June 2002. Judging is based on artistic, creative and technical achievements of each piece of work or recorded performance. In 2002, three awards were newly added: Best melody (In the Pop Category), Best Lyrics (In the Pop Category) and Best Album (In the Pop Category). All of the nine awards were nominated and voted by prominent music professionals.