See my earlier post about Jixing watch here.
Jixing 吉星 means lucky 吉 star 星 and the logo on the dial is a star. The words "Military Use" printed on the watch are, as you can see, in Traditional Chinese characters which is "軍用" but China has started using Simplified Chinese ("军用“) as far back as to 1950s and, in 1980s, it was already widely used. However, the "厂" (factory) at the caseback is in Simplified Chinese (the Traditional Chinese is “廠”). The usage of Traditional Chinese on the dial is by no means an error, but why so ? I do not know.