PN) Inventory Surges Over 77% as It Acquires Full Possession of Nanjing Cesun

The inventory makes the Nasdaq prime share gainers listing following
information, presently buying and selling up over 77% on a quantity of over 37 million
shares.

Skycorp Photo voltaic introduced the signing of a Share Acquisition Settlement
(the “Settlement”) on April 30, 2026, to amass the
remaining 56% fairness pursuits in Nanjing Cesun Energy Co., Ltd.
(“Nanjing Cesun” or the “Goal”). Moreover, the corporate
introduced it has entered into definitive Securities Buy
Agreements (the “Agreements”) with three unbiased
institutional buyers to lift an mixture of USD 3,000,000 in a
non-public placement (PIPE) transaction.

Acquisition of Nanjing Cesun

Previous to this transaction, Skycorp held a 44% fairness curiosity in
Nanjing Cesun by its wholly-owned subsidiary, PN Sunshine Pte.
Ltd. Upon closing, Skycorp will successfully maintain and consolidate
100% of the Goal. Nanjing Cesun is a complete renewable
vitality firm engaged in server gear gross sales, inverter
manufacturing, photovoltaic (PV) energy station operation, and vitality
administration programs. This acquisition seamlessly integrates Nanjing
Cesun’s strong operations and revenues into Skycorp’s increasing
portfolio.

Underneath the phrases of the Settlement, the mixture consideration for
the 56% fairness curiosity is USD 20,194,720. The consideration can be
happy by the issuance of seven,983,000 newly issued Skycorp
strange shares, comprised of Class A and Class B shares. The share
issuance worth was decided to be USD 2.5290 per share, primarily based on
the arithmetic common of the each day closing costs of the corporate’s
strange shares on the Nasdaq Capital Market over a 10-day buying and selling
interval from April 17 by April 30, 2026. The transaction implies
a 100% enterprise valuation of Nanjing Cesun at USD 36,062,000,
supported by an unbiased valuation report ready by an
unbiased third-party valuation agency.

The 56% fairness curiosity is being acquired from two promoting events:
Huang Weiqi and EZPower Restricted. Mr. Huang straight holds a 20%
fairness curiosity within the goal and serves because the Chief Govt
Officer and a director of Skycorp. EZPower Restricted is a British
Virgin Islands (BVI) entity holding the remaining 36% fairness
curiosity within the Goal. The final word useful financial pursuits
in EZPower are held by Mr. Huang (40%), He Xiaoer (25%), Zhang
Gaokui (25%), and Lin Xiaobo (10%). As a result of Mr. Huang is the CEO of
Skycorp and has a direct and materials financial curiosity within the
promoting entities, this acquisition constitutes a related-party
transaction. Consequently, the transaction was independently
reviewed, negotiated, and unanimously permitted by the audit
committee of unbiased administrators to make sure equity to the corporate
and its public shareholders.

To align with long-term shareholder worth, the newly issued
consideration shares are topic to strict lock-up agreements:

The 4,904,000 Class B strange shares issued straight or
beneficially to Mr. Huang are topic to a 24-month lock-up interval
commencing from the Closing Date.

The three,079,000 Class A strange shares issued to EZPower Restricted for
the good thing about its different useful homeowners (He Xiaoer, Zhang Gaokui,
and Lin Xiaobo) are topic to a 6-month lock-up interval.

The transaction is topic to customary closing circumstances,
together with board authorization, the supply of duly executed PRC
devices of fairness switch, execution of lock-up consents by all
useful homeowners, and the immediate graduation of a complete
full audit of Nanjing Cesun to be accomplished inside 90 days following
the closing.

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