TimeBook Investment Co., Ltd. (the “Company” or “TimeWatch”) and its subsidiaries (collectively, the “Group”) are leading manufacturers, brand owners and retailers of domestic watches in the People's Republic of China (“China”). TianWang (TianWang), the core independent brand of the Group, was founded in 1988 and has now developed into one of the top domestic watch brands famous in China and positioned in the mass market. Another independent brand of the Group, Balco (Balco), was first registered in Switzerland by an independent third party in 1986 and acquired by the Group in 2002. It targets middle-income young Chinese consumers and provides Swiss-made watches.
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