Skycorp Solar Group Limited (Nasdaq: PN) has approved a share‑repurchase program that will buy back up to US$2 million of its ordinary shares, using cash on hand and in excess liquidity. The program is intended to optimise the company’s capital structure and enhance earnings per share, signalling management’s confidence in the firm’s intrinsic value.
The announcement comes as Skycorp Solar faces a Nasdaq deficiency notice for failing to maintain the $1.00 minimum bid price. The company has until April 28 2026 to regain compliance, a deadline that underscores the urgency of the buyback as a tool to support the share price and demonstrate financial stewardship.
In addition to the buyback, Skycorp Solar recently acquired a 24 % equity stake in Nanjing Cesun Power Co., Ltd. for approximately US$8.7 million, financed through the issuance of Class B ordinary shares. The acquisition expands the company’s footprint into power‑project investment and development, aligning with its broader strategy to transition from a pure solar‑product manufacturer to an integrated renewable‑energy enterprise.
Financially, Skycorp Solar has experienced declining revenue and net profit margins in recent quarters. The share‑repurchase program is therefore viewed as a confidence‑boosting move amid a backdrop of weaker earnings and a shrinking market share in its core solar‑PV product segment. By returning capital to shareholders, management aims to offset the negative perception generated by the Nasdaq compliance issue and the company’s recent performance.
CEO and Chairman Mr. Huang emphasized that the program reflects the company’s belief in its long‑term growth prospects. He noted that Skycorp Solar is “transforming into an integrated solar enterprise, encompassing power‑project investment, AI‑powered digital energy management, and manufacturing.” Mr. Huang added that the company’s strong balance sheet and ample liquidity position it to capture organic growth and disciplined strategic opportunities as AI‑driven innovation accelerates.
Investors have responded positively to the announcement, interpreting the buyback as a signal of management’s confidence in the company’s intrinsic value and its commitment to restoring compliance with Nasdaq’s listing requirements. The move also aligns with the company’s broader strategy to diversify revenue streams and strengthen its competitive position in the renewable‑energy market.
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