Here's a great account (with lots of terrific photos) on another forum regarding phony hand ejector revolvers produced in China during WWII. In this case they were serially manufactured rather than singularly handmade knock-offs. They blatantly marked them "SMITH & WESSON" on the barrels, but did make an small error in stamping the other side with the caliber information.
See:
Chinese War Time Arsenal Copy of Smith Wesson Revolver | Gunboards Forums