NINGBO, China, May 5, 2026, 02:01 CST
- Skycorp Solar stock surged almost 100% on Nasdaq, lifted by news it’s acquiring full ownership of Nanjing Cesun Power and bringing in $3 million through a private share placement. SEC
- Skycorp is set to take full ownership of operations ranging from inverter manufacturing to photovoltaic power stations and energy management, though most of the purchase price comes in the form of fresh stock issuance. GlobeNewswire
Shares of Skycorp Solar Group Ltd surged 88.8% to $5.41 Monday afternoon on Nasdaq, following news that the Chinese solar firm will acquire the remaining 56% stake in Nanjing Cesun Power Co. through a stock transaction, and raise $3 million via a private placement. Volume soared, with more than 46.9 million shares changing hands—well above the usual pace.
Skycorp’s push is critical right now as it looks to expand beyond its traditional solar cable and connector niche, aiming for a wider clean-energy footprint. The addition of Nanjing Cesun means access to server hardware sales, inverters, PV power plant operations, and energy management tech. PV stands for solar gear that turns sunlight into power. GlobeNewswire
Market moves follow Skycorp’s announcement less than a week ago that a Nasdaq minimum bid-price issue had been resolved. The exchange had notified Skycorp its stock hadn’t met the $1 closing bid price requirement. That changed after Nasdaq confirmed the company regained compliance for the 10 business days spanning April 13 through April 24. markets.businessinsider.com
Skycorp said it currently owns 44% of Nanjing Cesun via PN Sunshine Pte. Ltd., and once the deal wraps up, its stake will jump to 100%. The $20.2 million deal gets paid with 7.98 million newly issued ordinary shares, divided between Class A and Class B. SEC
The company has lined up a PIPE deal to move 1.69 million Class A shares at $1.7703 apiece—a discounted, negotiated sale to chosen investors rather than via the open market. That price? Exactly 70% of the 10-day average Nasdaq close from April 17 to April 30. SEC
The capital structure takes a hit with the new share issuance. Skycorp expects to have 12.2 million ordinary shares on the books right after the acquisition and PIPE wrap up—split between 6.1 million Class A shares and 6.2 million Class B. Roughly 79% of the total will come from shares issued in those two deals. SEC
Chief Executive Huang Weiqi described Skycorp’s full takeover of Nanjing Cesun as “a pivotal milestone,” saying the transaction would fold server equipment, inverters, PV power stations and energy management under its renewable-energy arm. Huang added that the $3 million private placement signals investor backing, bringing in extra funds for business growth. GlobeNewswire
There’s a related-party twist here. Skycorp is picking up the 56% stake from Huang—he personally holds 20% of Nanjing Cesun, while EZPower Ltd. owns 36%. Huang also has a 40% beneficial interest in EZPower, according to Skycorp. The company said its independent audit committee handled the review, negotiations, and gave the green light to the deal. GlobeNewswire
There’s some competition, though not intense. Skycorp, with its move into inverters and energy-management gear, steps into market territory already watched by investors following Shoals Technologies for electrical balance-of-system, SolarEdge on the inverter side, and Tigo Energy for both module-level controls and solar software. Shoals Technologies Group
Still, there are real execution and dilution risks hanging over the deal. Closing hinges on standard conditions—most notably, the PRC transfer documentation and potential sign-off from China’s State Administration for Market Regulation or other relevant bodies. The Skycorp agreement requires a full audit of Nanjing Cesun to be wrapped within 90 days post-closing. If significant hidden liabilities or misstatements turn up, there are remedies spelled out. SEC
Skycorp is a lean operation, and the numbers spell it out: fiscal 2025 revenue climbed 27% to $63.3 million, but gross margin tightened to 9.95% from last year’s 13.10%. After earning $1.2 million a year ago, the company slipped to a net loss of $2.2 million, pointing to pricing pressure and rising operating costs. GlobeNewswire
