Skycorp Solar Group Limited (NASDAQ: PN) announced on 2025‑10‑15 that it has entered into a definitive agreement to acquire a 24.0% equity interest in Nanjing Cesun Power Co., Ltd., a leading developer of new‑energy power plants and inverter technologies. The acquisition is valued at approximately US$8.7 million, which Skycorp will pay by issuing 12,000,000 Class B ordinary shares to Skyline Tech Limited, the seller. The newly issued shares will be subject to a five‑year lock‑up period.
The transaction is scheduled to close on or before 2025‑12‑20, subject to customary closing conditions. By acquiring a substantial stake in Nanjing Cesun, Skycorp gains access to the company’s advanced inverter technology and its pipeline of renewable‑energy projects, positioning Skycorp to expand its footprint in the AI‑driven energy sector. The deal also aligns with Skycorp’s broader strategy to transition from a component supplier to a full‑service renewable‑energy solutions provider.
For investors, the acquisition represents a significant step toward diversifying Skycorp’s revenue base beyond solar PV components. The equity stake provides potential upside from Nanjing Cesun’s growth in new‑energy power plant development, while the share issuance preserves cash and strengthens the balance sheet. The five‑year lock‑up limits immediate dilution, and the expected closing date gives Skycorp a clear timeline to integrate the new assets and realize synergies.
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