Ningbo, China, Oct. 14, 2025 – Skycorp Solar Group Limited (NASDAQ: PN), also known as “Skycorp” or “the Company,” which specializes in providing solar PV products through the production and distribution of solar cables and connectors, announced today that it has finalized a binding agreement (referred to as “the Agreement”) to purchase a 24.0% equity stake in Nanjing Cesun Power Co., Ltd. (“Nanjing Cesun”). Nanjing Cesun is a prominent entity focused on developing new energy power plants and inverter technologies. The stake will be acquired from Skyline Tech Limited (“Skyline”) for an estimated US$8.7 million.
As per the Agreement’s stipulations, Skycorp will fulfill the payment by issuing an additional 12,000,000 Class B ordinary shares to Skyline. These newly issued shares will be subject to a five-year lock-up period. It should be noted that as of the filing date of this 6-K, Skyline already owns 13,025,000 Class B ordinary shares of the Company, which accounts for 97.0% of the Company’s total voting power.
Designated as a related party transaction, this deal received approval from the Company’s board of directors and audit committee on October 12, 2025. The completion of the acquisition is anticipated to take place by December 20, 2025, and remains contingent upon standard closing conditions.
Mr. Weiqi Huang, Skycorp’s Chairman and Chief Executive Officer, stated, “This transaction represents a deliberate expansion of our Company’s investments into AI-powered energy technologies and environmentally friendly energy solutions. We anticipate this move will generate fresh avenues for sustained growth for Skycorp and contribute to a more sustainable future for the Earth.”
About Skycorp Solar Group Limited
Skycorp Solar Group Limited operates as a provider of solar photovoltaic (PV) products, concentrating its efforts on the production and sale of solar cables and connectors. Our business activities are conducted via our subsidiaries in China, such as Ningbo Skycorp Solar Co., Ltd.
The Company’s primary objective is to evolve into a comprehensive green energy solutions provider, achieved by harnessing solar power and offering environmentally conscious solar PV products. Utilizing its proficiency in solar technologies and established global client relationships, Skycorp intends to broaden its range of solar PV products and energy solutions for business clients. Further details are available at: .
Forward-Looking Statement
This press release incorporates statements that look ahead to future events. Such forward-looking statements encompass declarations regarding future plans, objectives, goals, strategies, anticipated events or performance, underlying assumptions, and any assertions that are not purely historical facts. The Company signifies it is making forward-looking statements when it employs terms like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or comparable phrases that are not exclusively related to past occurrences. It is important to note that forward-looking statements do not assure future performance and carry inherent risks and uncertainties that could lead to actual outcomes diverging significantly from the Company’s projections outlined herein. These statements are subject to various uncertainties and risks, including but not limited to, those detailed in the “Risk Factors” section of the registration statement submitted to the SEC. Consequently, investors are advised against placing excessive reliance on any forward-looking statements presented in this press release. Further contributing factors are outlined in the Company’s SEC filings, which are accessible for review at . The Company disclaims any responsibility to publicly update or amend these forward-looking statements to reflect subsequent events or circumstances.
For more information, please contact:
Investor Relations
WFS Investor Relations Inc.
Connie Kang
Partner
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Tel: +86 1381 185 7742 (CN)
