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NINGBO, China - Skycorp Solar Group Limited (NASDAQ:PN), a manufacturer of solar cables and connectors with a market capitalization of $20.1 million, announced Tuesday it has agreed to acquire a 24% equity stake in Nanjing Cesun Power Co., Ltd. for approximately $8.7 million. The company, which InvestingPro data shows maintains strong liquidity with a current ratio of 1.93, is currently trading at $0.72 per share.
According to the company’s press release statement, Skycorp will pay for the acquisition by issuing 12 million Class B ordinary shares to the seller, Skyline Tech Limited. The newly issued shares will be subject to a five-year lock-up period.
Nanjing Cesun specializes in new energy power plant development and inverter technologies. The transaction was approved by Skycorp’s board of directors and audit committee on October 12, 2025.
As a related party transaction, the deal involves Skyline Tech Limited, which currently holds 13,025,000 Class B ordinary shares of Skycorp, representing 97% of the company’s voting rights.
The acquisition is expected to close by December 20, 2025, subject to customary closing conditions.
Skycorp Solar Group Limited, based in China, manufactures and sells solar photovoltaic products through its subsidiaries, including Ningbo Skycorp Solar Co., Ltd.
In other recent news, Skycorp Solar Group Limited has announced several strategic developments. The company has activated a Strategic Digital Asset Reserve Account and executed its first transaction by purchasing 32.76 Ethereum as part of a long-term investment in blockchain assets. Additionally, Skycorp plans to expand its renewable energy portfolio, indicating a commitment to broadening its business operations. Starting August 1, 2025, Skycorp will accept cryptocurrency payments for international transactions, including Bitcoin, Ethereum, and stablecoins like USDC and USDT. This move aims to enhance payment flexibility for global customers. Furthermore, the company plans to allocate a portion of its cash reserves and returns from renewable energy projects toward acquiring more Ethereum, aligning with its treasury management strategy. These developments reflect Skycorp’s increasing focus on integrating digital assets into its financial operations.
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