Yantai Polaris Watch (Group) Co., Ltd.
Address: No. 240, Beima Road, Zhifu District, Yantai City, Shandong Province
Company website: http://www.polaris.com.cn/
Company Overview
In 1915, Mr. Li Dongshan, a national industrialist, founded the Baoshi Clock Factory in Yantai, which became the origin of mechanical clock making in China. The products were registered as the "Bao" trademark. In 1959, an international trademark "North Star" was registered and officially launched in 1960. After the efforts of several generations, North Star has made brilliant achievements and made outstanding contributions to the development of the local economy. After nearly a hundred years of continuous exploration and development, North Star has strong technical development and strong mechanical, electronic and wood processing capabilities. It can produce and process clocks and parts on a large scale. It is a domestic processing and manufacturing enterprise with comprehensive production capabilities of clocks and watches and complete supporting facilities and a full range of varieties. The products mainly include four product segments: mechanical clocks, watches, quartz clocks, technical clocks, and two supporting products: gemstones and elastic components. Among them, mechanical clocks have formed eight series and hundreds of varieties. Its exquisite manufacturing technology is in a leading position in the domestic industry. It is the largest domestic mechanical clock production base with the most complete varieties in the world. In order to adapt to the needs of market competition, Yantai Polaris State-owned Holding Co., Ltd. was established in 2001. The three-step strategy of "closing a batch of bankruptcies, restructuring and integrating a batch of companies, and strengthening and expanding a batch of companies" was adopted to promote Polaris to gradually shift from focusing on solving historical problems to accelerating enterprise development. At present, the first two steps have been basically completed. In the specific implementation process, we actively laid the foundation for development. Through the investment and restructuring of the holding company, we have established Yantai Polaris CITIC Machinery Co., Ltd., Yantai Polaris Quartz Clock Co., Ltd., Yantai Polaris Watch Co., Ltd., Yantai Clock and Watch Research Institute Co., Ltd., Yantai Polaris Ronghua Clock Co., Ltd., Yantai Seagull Watch Co., Ltd., Yantai Polaris Huajing Gem Co., Ltd., Yantai Polaris Timing Instrument Co., Ltd., Yantai Polaris Elastic Components Co., Ltd., and the Sino-French joint venture Yantai Polaris High-Base Time Synchronization Technology Co., Ltd. and other subsidiaries. In the coming period, we will accelerate the implementation of the third step strategy, take development as the theme, accelerate the transformation of economic growth mode, and carry out work around the three adjustments of "organizational structure adjustment, market structure adjustment, and product structure adjustment". At the end of 2009, in order to give full play to the advantages of Polaris clock making and build a century-old brand, Polaris reorganized the resources for producing clock products including mechanical clocks, quartz clocks, technical clocks, etc., and established Yantai Polaris Co., Ltd., further optimizing Polaris' organizational structure and resource allocation, improving the economic benefits of the enterprise, and creating conditions for promoting Polaris' transformation into a high-tech enterprise. At the beginning of 2012, the municipal government has determined to focus on supporting the revitalization and development of Polaris's old brand. Relevant departments are formulating a brand revitalization plan and taking various measures to accelerate the pace of development. In accordance with the overall deployment and requirements of the municipal government, Polaris will accelerate the pace of reform and restructuring, further reorganize and optimize the resources of mechanical clocks, watches, technical clocks, and quartz clocks, deepen structural adjustments, solve historical problems through the implementation of withdrawing from the city and entering the park, speed up the renewal of equipment, speed up the replacement and upgrading of products, gather in the park for development, strive to transform Polaris's core technology into core competitiveness, promote the rapid and sound development of Yantai's clock and watch industry, and actively expand into industries closely related to clocks and watches. By increasing investment in research and development, we will achieve leapfrog development, push Polaris toward the ranks of world brands, and build Polaris into a world brand.