I don’t remember all the details, but the gist of it is that several different “factories” make very similar watches using mostly the same movement and sell it under the same name.

The tldr of the situation is that Chinese manufacturing doesn’t necessarily follow the same ethical standards as western manufacturing. From teams that make reps, to some brand names essentially being public domain and used by different unrelated, to teams using or reusing OEM parts/CAD models and calling it their own work, etc. It’s kind of a shit show and western bargain hunters who care more about feeling like they purchased something that has more bang for the buck than about actual quality or business ethics enable this behavior.

FWIW, I’m generally a proponent of Chinese watches and have owned many, see my post history. But, at the same time, the business side of that world is a mess.

Also fwiw… I’ve done a lot of professional engineering work with Chinese factories. These problems are not limited to watches. Generally, unless your company is on the S&P 500, it’s considered good practice to have a shell company (or several) for placing orders with Chinese suppliers, and to use multiple suppliers in different regions, if you’re concerned about intellectual property theft and don’t want to pay for a legal team in China.