---
title: "SINCEREWATCH HK acquired a natural gas business for 1.12 million yuan to enter the energy wholesale and retail market"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/274735297.md"
description: "SINCEREWATCH HK announced the acquisition of 51% equity in Nantong Rongyu Energy Technology for RMB 1 million, with the payment to be made through promissory notes. The target company focuses on natural gas and refined oil businesses, including natural gas wholesale and gas station construction. The company was established in August 2024 and is expected to obtain a hazardous chemicals operating license in November 2024. Since its establishment until December 31, 2024, the target company has not conducted any business and recorded a net loss of approximately RMB 9,000"
datetime: "2026-02-04T00:56:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/274735297.md)
  - [en](https://longbridge.com/en/news/274735297.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/274735297.md)
---

# SINCEREWATCH HK acquired a natural gas business for 1.12 million yuan to enter the energy wholesale and retail market

SINCEREWATCH HK (00444) announced that it will acquire 51% equity in Nantong Rongyu Energy Technology (target company) for a consideration of RMB 1 million (approximately HKD 1.12 million). The consideration will be paid by issuing promissory notes.

The target company is primarily engaged in natural gas and refined oil businesses, specializing in natural gas wholesale, vehicle refueling, and gas station construction. The company was established in August 2024 and will apply for the necessary qualifications required to operate its business (i.e., hazardous chemicals business license) for the period ending December 31, 2024, and will obtain this license in November 2024.

From its establishment until December 31, 2024, the target company has not conducted any business activities and recorded an unaudited net loss of approximately RMB 9,000 before and after tax

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