China Everbright Holdings announced today that it is selling its entire stake in China Everbright Technology Ltd. for HK$218.9 million to Sincere View International Ltd., a holding company incorporated in the British Virgin Islands.

Sincere View has said that is has no plans to change China Everbright Technology's business–making watches, with a sideline in trading timber and property development–nor will it inject new assets into the company or delist it.