| Shanghai Xinyu Watch & Clock Group Ltd., was established in 1999, with the registration capital of 180 million RMB. Xinyu Group has been engaged in the retail and wholesale of luxurious imported watches, particularly high-end Swiss watches. Riding on its strong reputation, the Group has established a leading position in the PRC with its significant sales and after service network. Through the efforts of its dedicated and experienced management team, the Group has successfully gained the trust and confidence from a number of international renowned watch brand-owners. The Group currently is the general or exclusive distributor of many renowned brands. The Group markets its proprietary brand under the brand name “NIVADA”, with the permanent authority to manufacture and sell NIVADA in Mainland, Taiwan, Hong Kong and Macau. In Oct. 2003, Xinyu Group established a joint venture focusing on the wholesale business with the Swatch Group, the largest global watchmaker. From 2002 till now, the Group has been maintaining its leading position in the terms of watch retail, wholesale, outlet number, turnover and profit. |