Skycorp Solar announces digital asset reserve, renewable energy expansion

NINGBO, China - Skycorp Solar Group Limited (NASDAQ:PN), a manufacturer of solar cables and connectors with a market capitalization of $48.6 million, announced on Wednesday the activation of a Strategic Digital Asset Reserve Account and plans to expand its renewable energy portfolio. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though its stock has declined nearly 40% in the past week.

The company executed its first transaction under the new digital asset strategy on Tuesday, purchasing 32.76 Ethereum (ETH) through an automated trading system. Skycorp indicated it plans to acquire more ETH as part of a long-term investment approach in blockchain assets.

In a parallel move, the company has signed an agreement to acquire 8,705KW of solar power stations for approximately RMB30.5 million ($4.25 million). The transaction is expected to close by the end of November 2025, subject to customary conditions. Trading at a P/E ratio of 161.5x, significantly above industry averages, InvestingPro analysis suggests the stock is currently fairly valued, with 12 additional ProTips available for subscribers.

Both initiatives are part of what the company calls its "Pegasus Strategy," which positions its manufacturing operations as the core business while developing renewable energy assets and digital currency investments as growth channels.

The newly formed Investment Committee, chaired by Weiqi Huang, Skycorp’s Chairman and CEO, will oversee these initiatives with quarterly updates planned through earnings communications.

Skycorp Solar Group Limited operates primarily through its subsidiary Ningbo Skycorp Solar Co., Ltd. in China, focusing on the manufacture and sale of solar photovoltaic products.

The information in this article is based on a company press release statement.

In other recent news, Skycorp Solar Group Limited has announced several significant developments. The company revealed its plan to accept cryptocurrency payments, including Bitcoin, Ethereum, and stablecoins like USDC and USDT, for international transactions starting August 1, 2025. This initiative is part of Skycorp’s broader strategy to incorporate Ethereum acquisitions into its treasury management approach. Additionally, Skycorp’s Board of Directors has approved a $150 million investment framework aimed at acquiring and developing solar photovoltaic power plants. This move marks a strategic shift for the company, as it expands from manufacturing components to owning and developing renewable energy infrastructure. These recent developments highlight Skycorp’s efforts to innovate and diversify its business operations.

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