Yep. Same type Swiss lever escapement movements that are in lots of other watches. Longines are a high quality brand, so their finishing on the parts and fitment are done quite well, but the basic mechanics are the same. All work on the same general principal, but many makers design their own parts. The setting lever from that Longines will have a different design than the setting lever in an old Tudor (for example), but both will perform the same function. Parts are obviously not interchangeable, but they do the same task in the end.
Ever work on something like this?