Ningbo, China, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Skycorp Solar Group Limited (Nasdaq: PN) (the “Company”), a solar PV product provider engaged in the manufacture and sale of solar cables and solar connectors, today announced that the Company received a notice (the “Notice”) from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) on October 30, 2025, stating that the Company’s Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”), fail to com ...

Core Viewpoint - Skycorp Solar Group Limited has announced a definitive agreement to acquire a 24.0% equity interest in Nanjing Cesun Power Co., Ltd. for approximately US$8.7 million, marking a strategic move into AI-driven energy technologies and green energy solutions [1][4]. Group 1: Acquisition Details - The acquisition will be financed through the issuance of 12,000,000 Class B ordinary shares to Skyline Tech Limited, which will be subject to a five-year lock-up period [2]. - Skyline currently holds 13,025,000 Class B ordinary shares, representing 97.0% of the voting power of the Company [2]. Group 2: Transaction Approval and Timeline - The transaction was approved by the Company's board of directors and audit committee on October 12, 2025 [3]. - The closing of the transaction is expected to occur on or before December 20, 2025, pending customary closing conditions [3]. Group 3: Strategic Implications - The Chairman and CEO of the Company emphasized that this transaction represents a strategic extension into AI-driven energy technologies, which is anticipated to drive sustainable growth and contribute to a sustainable future [4]. - The Company's mission focuses on becoming a green energy solutions provider by leveraging solar power and expanding its offerings of eco-friendly solar PV products [5].

Core Points - Skycorp Solar Group Limited held an extraordinary general meeting (EGM) on October 10, 2025, where shareholders approved a resolution regarding share consolidation [1][2][5] - The company focuses on manufacturing and selling solar photovoltaic (PV) products, specifically solar cables and connectors, and aims to expand its offerings for enterprise customers [2][3] Share Consolidation Details - The resolution includes consolidating every 100 shares into 1 share, with the possibility of a lesser amount as determined by the Board, ensuring no fractional shares are issued [5] - Shareholders will receive whole shares, rounding up any fractional shares to the next whole share [5] - The Board is authorized to implement the share consolidation and amend the company's memorandum and articles of association accordingly [5] Company Mission and Operations - Skycorp's mission is to become a green energy solutions provider by utilizing solar power and delivering eco-friendly solar PV products [3] - The company operates through subsidiaries, including Ningbo Skycorp Solar Co., Ltd., in China, leveraging expertise in solar technologies and global client relationships [2][3]

Core Viewpoint - Skycorp Solar Group Limited is adopting cryptocurrency as a payment method for international transactions starting August 1, 2025, supporting major digital assets like Bitcoin, Ethereum, and stablecoins [1][3]. Group 1: Cryptocurrency Adoption - The company will accept Bitcoin (BTC), Ethereum (ETH), and stablecoins such as USDC and USDT for international transactions [1]. - All digital currency payments will be processed through licensed RWS providers specializing in blockchain forensics to ensure regulatory compliance [3]. Group 2: Strategic Investments - Skycorp plans to allocate part of its cash reserves and returns from renewable energy projects to strategic acquisitions of Ethereum as part of its digital asset treasury management program [2]. - The company believes that investments in clean energy infrastructure and ETH staking align with long-term growth opportunities [3]. Group 3: Commitment to Sustainability - The company aims to deliver innovative, secure, and sustainable energy solutions while embracing technologies that support operational excellence and global accessibility [4]. - Skycorp's mission is to become a green energy solutions provider by utilizing solar power and delivering eco-friendly solar PV products [6].

Core Viewpoint - Skycorp Solar Group Limited has authorized a $150 million investment framework to pursue solar photovoltaic (PV) power plant acquisitions and development projects, marking a significant step in its strategic expansion into renewable energy infrastructure [1][4]. Company Strategy - The company aims to transition from component manufacturing to full-scale renewable energy solutions, emphasizing its commitment to the global energy transition [4]. - The CEO highlighted the combination of technological expertise and disciplined financial oversight as key to successful future acquisitions [4]. Investment Framework - The investment framework is set at $150 million, which will be utilized for acquiring and developing solar PV power plants [1]. - All capital expenditures and fund allocations will be conducted cautiously and incrementally to align with the company's strategic priorities and financial capabilities [4]. Due Diligence Process - The company will conduct comprehensive due diligence on potential power plant targets, focusing on legal ownership, regulatory compliance, and asset quality to mitigate transactional risks [3]. Company Background - Skycorp Solar Group Limited specializes in manufacturing and selling solar cables and connectors, with operations managed through subsidiaries, including Ningbo Skycorp Solar Co., Ltd. in China [5]. - The company's mission is to become a green energy solutions provider by leveraging its expertise in solar technologies and expanding its offerings for enterprise customers [6].