Interesting news re Beijing WF, Fiyta and Tencent

Interesting news re Beijing WF, Fiyta and Tencent

Postby AlbertaTime » June 8th 2015, 9:05am

As I'm preparing to re-visit China and the 2015 China Watch and Clock Fair in Shenzhen in two weeks, I received these 3 WeChat messages from Mr. Li Wei of the China Horologe Association, with permission to forward the information.

The news is regarding a joint venture between Beijing Watch Factory, Fiyta and Tencent. Please excuse the translations but Google is the best I know how to provide. Anyone with better Chinese translation skills is welcome to clarify :-)

@Ron Good 最新消息一一飞亚达与北京手表厂合资成立表业公司 腾讯证券2015-06-05 20:04:00



北京手表厂苗红波在瑞士发出的消息: 2015年6月4日下午,日内瓦,北表许学军董事长签署了有关文件。这可能改变中国手表格局的大事。


@Ron Good 你可以把此消息转发到论坛上,具体细节可在深圳采访北京手表厂苗红波

Google translations:

@Ron Good: News eleven FIYTA in a joint venture with the Beijing Watch Factory Watch Company and Tencent securities. 2015-06-05 20:04:00

FIYTA A (000026) June 5 evening announcement, in key areas to enhance the company's core competencies parts, the Board of Directors authorized the management and the Beijing Watch Factory Co., Ltd. signed a framework agreement to jointly invest in the establishment of North-table industry ( Beijing) Limited.

Under the agreement, Beijing Watch Factory agreed to watch movement components and manufacturing operations, "Beijing" and "Shining" brand and related business team and other resources, the establishment of a separate north-table industry company, which holds the North exemplar companies 100% of the shares. After the separation is completed, the company intends to cash 80 million yuan (including 51 million yuan as registered capital of the target company) north exemplar investment companies, investment shares after the company accounted for 51% of the shares of North exemplar companies, Beijing Watch Factory accounted North exemplar 49% stake in the industry.

Message Beijing Watch Factory Miao Hongbo in Switzerland issued: June 4, 2015 in the afternoon, Geneva, North table 许学军 chairman signed the relevant documents. This event may change the pattern of China watches.

@Ron Good: You can forward this message to the forums, the details can be interviewed Miao Hongbo Beijing Watch Factory in Shenzhen (meaning I can ask Mr. Miao Hong Bo of BJWF for more details when I meet him in Shenzhen)

Later in the day. Li Wi posted this additional information:





Google Translated:

Miao HongBo, general manager of Beijing Watch Factory:

"We had six months of negotiations on cooperation, overall very smooth, very frank between the parties. The cooperation between our two sides to each other is an important cooperative advantages of resources. We particularly appreciate FIYTA brand management and retail channels in construction terms of excellence and advantages, and we regard it north of the watch factory, in the movement of production, development, and manufacturing of high complex movement also impressive.

After the cooperation, can make up the industrial chain FIYTA watch movement production research and development strength, and will carry out an internal matching between the North and the watch factory of mechanical movement and FIYTA, which will enhance the North watch factory product quality is very large role in promoting.

Beijing is a watch brand has a 57-year-old brand, after the cooperation, North watch brand will have a bigger stage. "

FIYTA Group Vice President Du Xi:

"Yesterday (June 5), and confirmed by our board this partnership today (June 6), we are based on listed companies' information disclosure requirements, released the capital level of cooperation and joint-related information.

I participated in the process and North FIYTA watch factory whole negotiation and cooperation, we have witnessed the efforts of the two sides can come together.

First, I want to emphasize that this FIYTA and North watch factory come together, not the acquisition, but the cooperation and joint ventures, but FIYTA be holding. North watch factory Xu Dong adhere to a 49% stake of all, he insisted on the cause of and optimistic about the future cooperation of the two sides can be seen.

Cooperation and North FIYTA watch factory, is a typical Win-Win-win model. We put our core competencies and output to the other unconditionally open, create, and look forward to more achievements in the future.

For FIYTA concerned, first of all we are optimistic about the future development of the North consolidated basis. Our Beijing Watch Factory Co., Ltd. Chairman Xu Xuejun, general manager of Mr. Miao Hongbo led the team in the years continue to maintain efforts to record the strength and results of mechanical watchmaking, and the North watch factory's brand and future prospects expressed great recognition and respect.

Our bilateral cooperation has many meanings. First, FIYTA, to cooperate with the North watch factory after FIYTA full manufacturing capacity will be time to add in the future we will have a production movement, which can directly enhance the core competitiveness of FIYTA enhance industry strength . For North watch factory, with FIYTA in marketing, channel, and many other advantages, the North watch factory own movement manufacturing level and brand development must also be improved. "

Li Wei also provided this photo of me discussing watches with Beijing Watch Factory General Manager Miao HongBo at last years CWCF/Shenzhen.

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