Skycorp Solar Group Limited Announces 1-for-20 Reverse Share Split
Skycorp Solar Group (NASDAQ: PN) approved a 1-for-20 reverse share split of its Class A ordinary shares, effective April 13, 2026.
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Rhea-AI Summary
Skycorp Solar Group (NASDAQ: PN) approved a 1-for-20 reverse share split of its Class A ordinary shares, effective April 13, 2026. Every twenty pre-split shares will combine into one post-split share, reducing outstanding shares from 25,735,000 to approximately 1,286,750. The symbol PN remains unchanged and shares will trade on a split-adjusted basis at market open on April 13, 2026.
Positive
- Reverse share split ratio 1-for-20 effective April 13, 2026
- Class A shares will trade on Nasdaq on a split-adjusted basis while keeping symbol PN
Negative
- Outstanding shares reduced from 25,735,000 to ~1,286,750 (≈95% reduction)
Details
News Market Reaction – PN
On Apr 9, the first trading day after this news, PN closed 37.28% below the previous close.
Data tracked by StockTitan Argus for the Apr 9 session.
Key Figures
- Reverse split ratio
- 1-for-20
- Board-approved reverse share split of issued and unissued shares
- Pre-split shares
- 25,735,000 shares
- Outstanding Class A Ordinary Shares before reverse split
- Post-split shares
- 1,286,750 shares
- Approximate outstanding Class A Ordinary Shares after 1-for-20 split
- Effective date
- April 13, 2026
- Reverse split effective date and start of split-adjusted trading
- EGM authorization window
- 3 years
- Board authorized to implement reverse splits within three calendar years after Oct 10, 2025 EGM
- Nasdaq compliance deadline
- April 28, 2026
- End of initial 180-day period to regain $1.00 minimum bid price
- Minimum bid requirement
- $1.00
- Nasdaq minimum bid price PN previously failed to meet
- Board approval date
- March 30, 2026
- Date Board officially approved 1-for-20 reverse share split
Historical Context
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Reported higher revenue but lower gross margin and a net loss for 2025.
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Announced $2M buyback with initial repurchase of 60,000 shares for $51,972.
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Received Nasdaq notice for failing to meet the $1.00 minimum bid requirement.
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Agreed to acquire 24% of Nanjing Cesun Power for about $8.7M in shares.
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Shareholders approved conditional share consolidation up to 100-for-1 within three years.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
Nasdaq Capital Market regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
NINGBO, China, April 08, 2026 (GLOBE NEWSWIRE) -- Skycorp Solar Group Limited (“Skycorp” or the “Company”) (NASDAQ: PN), a solar PV product provider engaged in the manufacture and sale of solar cables and solar connectors, today announced that its Board of Directors has approved a reverse share split of all the Company’s issued and unissued shares at an exchange ratio of one (1) share for twenty (20) shares.
As previously disclosed, the Company held an extraordinary general meeting on October 10, 2025, where shareholders approved the authorization of the board of directors (the “Board”) to effect reverse share splits of the Company’s authorized share capital in its sole discretion. This was authorized to be implemented at any time within three (3) calendar years following the conclusion of the extraordinary general meeting. On March 30, 2026, the Board officially approved the 1-for-20 reverse share split.
The reverse share split will become effective on April 13, 2026. The Company’s Class A Ordinary Shares will begin trading on the Nasdaq Capital Market on a split-adjusted basis at the opening of the market on April 13, 2026. The Class A Ordinary Shares will continue to trade under the symbol “PN.”
As a result of the reverse share split, every twenty (20) outstanding Class A Ordinary Shares will be combined into and automatically become one post-Reverse Share Split Class A Ordinary Share. This action will reduce the number of outstanding Class A Ordinary Shares of the Company from 25,735,000 to approximately 1,286,750.
About Skycorp Solar Group Limited
Skycorp Solar Group Limited is a solar photovoltaic (PV) product provider focused on manufacturing and selling solar cables and connectors. Our operations are managed through our subsidiaries, including Ningbo Skycorp Solar Co., Ltd., in China.
The Company’s mission is to become a green energy solutions provider by utilizing solar power and delivering eco-friendly solar PV products. By leveraging the Company’s expertise in solar technologies and relationships with worldwide clients, it aims to expand offerings of solar PV products and energy solutions for enterprise customers. For more information, please visit: https://ir.pnrenewables.com/.
Forward-Looking Statement
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Skycorp Solar Group Limited
Cathy Li
Investor Relations
Email: pr@pnrenewables.com
Tel: +86 185 0252 9641 (CN)
WFS Investor Relations Inc.
Connie Kang
Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
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