Established in 1958, Cosmos started out as a small machinery manufacturer before switching to the trading of Chinese machine tools and electric motors in Hong Kong and Southeast Asia. As Hong Kong's industries thrived and prospered, Cosmos grew and expanded, and began to build up an excellent long-term partnership with its counterparts in China through business dealings and collaboration. To pave the way for even greater development, we listed Cosmos on The Stock Exchange of Hong Kong Limited in 1988 and have been a public listed company ever since.
In the late 1990s, in response to market demands, Cosmos was restructured into an enterprise devoted chiefly to machinery manufacturing following the acquisition of Welltec Industrial Equipment Limited (subsequently renamed as Cosmos Machinery Limited), primarily a producer of injection moulding machines. Today, apart from injection moulding machines, our major products include plastic processing machines like blow moulding machines and rubber injection moulding machines, and a wide variety of sheet metal working machines. To provide local manufacturers with quality plastic parts and products, plastic processing bases have also been set up in major industrial cities on the Mainland. Thus, machinery manufacturing, plastic processing and trading of industrial consumables now form the core of the Group's business to reap the benefit of synergy in both operation and development.
Widely supported and recognized by the industry, the Group has made steady progress in the past five decades or so and has successfully laid down a solid foundation and has earned ourselves a creditable name. This is largely due to our commitment in providing quality products and services to meet the needs of our customers. With the support and recognition given by our peers, the Group has seen steady and continual growth culminating in our sound. Our production bases can now be found in the Pearl River Delta and the Yangtze River Delta while our sales network practically covers the whole of the Mainland. Boasting an almost 5,000-strong staff of both locals and expatriates, Cosmos is far from being complacent and will instead work doubly hard to sustain our growth in the future. Our goals of anchoring firmly in the industrial sector and meeting the needs of our customers will continue to drive us on and on.
To better serve the industries, we set great store by not only our management and technology but also our staff, especially their learning and advancement. While focusing on business expansion, we have made it a point to provide our staff with adequate learning and development opportunities. Our priority is to recruit the best people to join our ranks so as to work towards the progress and prosperity of the industries and to build an ever stronger Cosmos.
I fully understand that failure to change is a stumbling block and prevents an enterprise from keeping up with the rapid development in the industrial sector and meeting or even surpassing its customers' expectations. Therefore, the Group pledges to achieve the biggest possible return for our investors and staff alike and to contribute the best we can to our country's industrial development.