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. "