YANTAI POLARIS STATE-HOLDING CO.,LTD.HISTORY AND BRIEF INTRODUCTION
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YANTAI POLARIS SRATE-HOLD CO., LTD
was approved by Yantai People's Government to
be built on May 29, 2000, and it was business
registered formally on September 29, 2001; mainly
deals in its state-owned asset, and deals with
asset recombining, asset leasing, purchasing at
the same time, it is affiliated with Yantai Polaris
Timepiece (Group) Co., LTD, it is one organizing
form of Yantai state-owned timepiece industry
in the new situation.
Yantai timepiece industry was firstly
established in the beginning of the twentieth
century. In 1915, national industrialist Dongshan
Li invested 25000 silver yuan, purchased German
equipments, and established Baoshi Timepiece Factory
in the Chaoyang Street in Yantai, it specialized
in manufacturing wall pendulum clocks and grandfather
pendulum clocks, its registered trade mark “Bao”
became the inchoation of our country's mechanical
clock manufacturing. After foundation, the factory
tried to manufacture the first batch of pendulum
clocks by three years of production preparation.
At the end of second decade of last century, our
country launched a campaign to boycott Japanese
goods, the factory took the advantage to present
banner of “domestic goods are of choice”; depress
the price; offer the promise of “guarantee for
ever”, it competed with Japanese pendulum clocks
of Chinese market, and won the market gradually,
and eventually extruded Japanese pendulum clocks
from Shandong and northeast market, the companies
were developed in the competition. In 1931, Baoshi
Timepiece Factory and Deshunxing Hardware Shop
set up by Dongshan Li were incorporated into Deshunxing
Timepiece Factory. The factory ever had more than
500 employees, and had the annual output of pendulum
clocks 55000 pieces. From 1927 to 1933, some technicians
that separated from Baoshi Timepiece Factory set
up one after another Yongkang Timepiece Company,
Shengli Timepiece Factory, Yongye Timepiece Factory,
Ciye Timepiece Factory. The year of 1934 is the
height of Yantai clock manufacturing; there were
more than 2000 employees in the five timepiece
factories. 160000 pendulum clocks and alarm clocks
were manufactured altogether. Pendulum clocks
made in Yantai were sold well all over our country,
and exported to the Southeast Asia and Hong Kong,
repeatedly won diplomas at exhibitions of domestic
products. From the very beginning of the third
decade of last century, timepiece technicians
in Yantai began to establish new factories in
Tianjin, Qingdao, Shenyang, Dandong, Shanghai,
Beijing, etc. In 1937, the sixth clock factory
named Renchang Timepiece Factory was opened, but
Yantai clock manufacturing industry began to decline
from then because of the war against Japan. Yantai
was liberated the second time in 1948, there were
only three timepiece factories left including
Deshunxing, with less than 100 practitioners and
the annual production of only several thousand pieces.
After liberation, the government
gave much support to Yantai clock manufacturing
industry, clock manufacturing was brought into Integrative
planning in 1953, and the products were bought and
sold determinately. Three left factories including
Deshunxing adopted joint state-private ownership
in 1954. In 1956, the three factories were combined,
and were merged into other several steel factories,
then Yantai J oint State-Private Ownership Timepiece
Factory came into existence with its registered
trade mark “Bao” under the jurisdiction of Shandong
industry office. The "Polaris" brand was
registered and used for export needs in 1960. In
the same year, the factory was transformed into
a state-run enterprise and changed its name to be
Yantai Timepiece Factory under the jurisdiction
of Shandong light industry office. In the next few
years, the factory enlarged
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