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I received these 3 WeChat messages from Mr. Li Wei of the China Horologe Association, with permission to forward the information to the forum.

1)
@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

飞亚达A(000026)6月5日晚间公告,为提高公司在关键零部件领域的核心竞争力,公司董事会授权经营层与北京手表厂有限公司签署框架协议,合作投资成立北表表业(北京)有限公司。

根据协议,北京手表厂同意将其钟表元器件及机心制造业务、“北京”和“双菱”品牌及与相关业务团队等资源,分立设立北表表业公司,持有北表表业公司100%的股份。在分立完成后,公司拟以现金8000万元(其中5100万元作为标的公司注册资本)投资北表表业公司,出资入股后公司占北表表业公司51%的股份,北京手表厂占北表表业公司49%的股份。
2)
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。
3)
@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
beijing_news.jpg

=================Google translations=================

1)
@Ron Good: News eleven FIYTA a joint venture with the Beijing Watch Factory Watch Company 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.
2)
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.
3)
@Ron Good: You can forward this message to the forum, the details can be interviewed Miao Hongbo Beijing Watch Factory in Shenzhen
 

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I received these 3 WeChat messages from Mr. Li Wei of the China Horologe Association, with permission to forward the information to the forum.

1)

2)

3)
View attachment 4252242

=================Google translations=================

1)2) 3)

View attachment 4253018
2014.6,深圳钟表展,Ron与北京手表厂苗红波厂长在交流



??-548.jpg
Ron与深圳钟表协会朱舜华会长
 

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Discussion Starter #4 (Edited)
2014.6,深圳钟表展,Ron与北京手表厂苗红波厂长在交流
liwei said:
Translation: 2014.6, Shenzhen Watch & Clock Fair, Ron and Beijing Watch Factory Director Miao Hongbo in discussion.
(Note: the onlooker is WUS member btgalen (Galen), who is also China's Watchlead forum's IT/technical support person.)

Ron与深圳钟表协会会长
liwei said:
Translation: Ron with Shenzhen Timepieces Association President [Mr. Zhu Shunhua, last year the Secretary-General of the Shenzhen Watch & Clock Association, now its President :)]
 

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Discussion Starter #8
欢迎Ron再次来深圳钟表展访问,我们深圳见。2015年6月24-28
I am looking forward to my return to Shenzhen, to learn more at CWCF 2015 and to see all my friends again!!
 

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I am looking forward to my return to Shenzhen, to learn more at CWCF 2015 and to see all my friends again!!
??-840.jpg

前排右起:孔氏珐琅品牌创始人孔令俊、廊桥品牌创造人米长虹、李伟、Ron、李秋生、天津钟表厂(金陀飞) 厂长刘智扬、Watchlead主席
后排右二:马旭曙(独立制表人)
 

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Discussion Starter #10

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Discussion Starter #11 (Edited)
This was a very memorable evening, Li Wei, my friend. I am so grateful to have met and spent time with all these very talented and hospitable friends.

LiWei said:
前排右起:孔氏珐琅品牌创始人孔令俊、廊桥品牌创造人米长虹、李伟、Ron、李秋生、天津钟表厂(金陀飞) 厂长刘智扬、Watchlead主席
后排右二:马旭曙(独立制表人)
Front row right to left: Kong LingJun Koncise brand founder, Mi ChangHong MCH/Longio brand creators, Li Wei, Ron, LI Qiu-sheng, Director Liu Zhiyang of Watchlead chairman
Back row second from right: Ma Xushu (independent watchmaker)
 

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前排右起:孔氏珐琅品牌创始人孔令俊、廊桥品牌创造人米长虹、李伟、Ron、李秋生、天津钟表厂(金陀飞)厂长刘智扬、Watchlead主席
后排右二:马旭曙(独立制表人)
 

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Very significant news indeed. A can see a lot of possible consequences of this development, and I wonder how the wider mechanical watch industry will be affected.
 

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北京手表厂总经理苗洪波:

“我们进行了大半年的合作谈判,总体非常顺利,双方之间也很坦诚。
我们两家的合作是一次双方彼此重要的优势资源的合作。我们特别欣赏飞亚达在品牌运作和零售渠道建设方面的卓越成绩和优势,而我们北表厂方面呢,在机芯生产、高复杂机芯研发制造方面也成绩斐然。合作后,飞亚达可以弥补产业链上手表机芯研发生产方面的实力,而北表厂的机械机芯和飞亚达之间会进行内部配套,这将对提升北表厂产品质量有很大的促进作用。
北京牌手表是一个拥有57年历史的老品牌,合作后,北表品牌将拥有更大的舞台。”

飞亚达集团副总杜熙:

“昨天(6月5号),我们董事会通过和确认此次合作。今天(6月6日),我们根据上市公司信息披露要求,对外发布了资本层面双方合作和合资的相关信息。
我参与了飞亚达和北表厂整个谈判和合作的过程,见证了我们双方能走在一起的努力。
首先我要强调的是,飞亚达和北表厂这次走在一起,不是收购,而是合作和合资,只是飞亚达进行控股。北表厂许董坚持49%的股权所有,他对事业的坚持和对双方未来合作的看好可见一斑。
飞亚达和北表厂的合作,是典型的Win-Win双赢模式。我们把各自核心能力向对方无条件开放和输出,创造和期待更加成就的未来。
对于飞亚达来讲,首先我们看好北表未来发展的基础。我们对北京手表厂有限公司董事长许学军、总经理苗洪波先生带领的团队,在多年内持续坚持、努力创下的机械制表实力和成果,以及北表厂的品牌和未来前景表示非常的认可和尊重。
我们双方的合作具有多方面的意义。首先,对于飞亚达,与北表厂进行合作后,飞亚达的全制造能力将得到及时补充,未来将拥有自产机芯,这可直接增强飞亚达的核心竞争力,提升行业实力。对于北表厂,借助飞亚达在营销、渠道等多方面优势,北表厂自身机芯制造水平和品牌发展必定也得以提升。”
 

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Discussion Starter #15
北京手表厂总经理苗洪波:

“我们进行了大半年的合作谈判,总体非常顺利,双方之间也很坦诚。
我们两家的合作是一次双方彼此重要的优势资源的合作。我们特别欣赏飞亚达在品牌运作和零售渠道建设方面的卓越成绩和优势,而我们北表厂方面呢,在机芯生产、高复杂机芯研发制造方面也成绩斐然。合作后,飞亚达可以弥补产业链上手表机芯研发生产方面的实力,而北表厂的机械机芯和飞亚达之间会进行内部配套,这将对提升北表厂产品质量有很大的促进作用。
北京牌手表是一个拥有57年历史的老品牌,合作后,北表品牌将拥有更大的舞台。”

飞亚达集团副总杜熙:

“昨天(6月5号),我们董事会通过和确认此次合作。今天(6月6日),我们根据上市公司信息披露要求,对外发布了资本层面双方合作和合资的相关信息。
我参与了飞亚达和北表厂整个谈判和合作的过程,见证了我们双方能走在一起的努力。
首先我要强调的是,飞亚达和北表厂这次走在一起,不是收购,而是合作和合资,只是飞亚达进行控股。北表厂许董坚持49%的股权所有,他对事业的坚持和对双方未来合作的看好可见一斑。
飞亚达和北表厂的合作,是典型的Win-Win双赢模式。我们把各自核心能力向对方无条件开放和输出,创造和期待更加成就的未来。
对于飞亚达来讲,首先我们看好北表未来发展的基础。我们对北京手表厂有限公司董事长许学军、总经理苗洪波先生带领的团队,在多年内持续坚持、努力创下的机械制表实力和成果,以及北表厂的品牌和未来前景表示非常的认可和尊重。
我们双方的合作具有多方面的意义。首先,对于飞亚达,与北表厂进行合作后,飞亚达的全制造能力将得到及时补充,未来将拥有自产机芯,这可直接增强飞亚达的核心竞争力,提升行业实力。对于北表厂,借助飞亚达在营销、渠道等多方面优势,北表厂自身机芯制造水平和品牌发展必定也得以提升。”
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. "
 

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Interesting merger, I own watches from Fiyta and Beijing, both are top-notch quality. Only good things can come from this;I can't wait to see what's next!
 

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My impression is that Fiyta has money and Beijing has some interesting products so that the merger is benefit to both. If they don't want to produce only those thrown-away very low cost products, I wish they could invest more for sales and service centers world-wide for their higher grade mechnical watches at comparatively low prices.
 

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Sorry to bump a fairly old thread, but this is of course a fairly major topic and I imagine it would only have been a matter of time before we had more to say about this!

Does anybody know of any developments on this front? I am still trying to get my head around exactly what has happened - I think the combination of ambiguous machine translation and my complete lack of businesses knowledge is proving a stumbling block. People have been referring to this as a "merger", but am I right in thinking that Fiyta and BWAF both still exist as independent and autonomous companies? What has happened is not so much a merger as the creation of a 3rd company, which is jointly owned by the first two? And this new company will produce watches under two brands, Beijing and "Shining" (possibly not the translation which will be actually used, but what Google has defaulted to)? Will BWAF continue to produce its own Beijing branded watches? Or will it effectively become a holding company which doesn't do anything? Same questions for Fiyta, mutatis mutandis. When can we realistically expect the first "Shining" brand watches to appear?
 

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The Google translation was a bit borked. Seems they are creating a 51/49 JV ("Northern Watch" or 北表, note that Beijing means northern capital) owned by Fiyta and Beijing.

Beijing will transfer it's manufacturing operations and also the Beijing and Shuangling (double rhomb, think this is being mistranslated as shining) brands to "Northern Watch".

Sent from my Passport using Tapatalk
 

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The Google translation was a bit borked. Seems they are creating a 51/49 JV ("Northern Watch" or 北表, note that Beijing means northern capital) owned by Fiyta and Beijing.

Beijing will transfer it's manufacturing operations and also the Beijing and Shuangling (double rhomb, think this is being mistranslated as shining) brands to "Northern Watch".

Sent from my Passport using Tapatalk
Thanks for clarifying that "Shining" is just Shuangling, I missed that. So, it looks like no new brands are being created here. Beijing are transferring their existing names, and manufacturing ops, to the new company. I guess this leaves the old BWAF company as an empty holding company? It sounds like what Fiyta are bringing to the table is marketing, distribution channels, that kind of thing. Do we know what will happen to the Fiyta brand? Will it be discontinued so Northern Watch can focus just on Beijing/Shuangling, or will Fiyta continue to be produced, so that we have two tiers of quality/cost produced by one company (with Fiyta/Beijing roughly comparable to Eyki/Jiusko)? Maybe we'll (finally!) start to see Fiyta branded watches with Chinese movements?

Does the new Northern Watch company have a website yet, or is this all still a bit in the distant future?
 
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