Ningbo, China, July 03, 2025 — Skycorp Solar Group Limited (the “Company”) (NASDAQ: PN), a supplier of solar PV products specializing in the manufacture and sale of solar cables and connectors, announced today that its Board of Directors has unanimously approved a resolution. This resolution authorizes the Company to pursue acquisitions and development projects for solar photovoltaic (“PV”) power plants, operating under an investment framework totaling $150 million. This decision represents a crucial progression in the Company’s strategic expansion into the infrastructure of renewable energy, reinforcing its dedication to accelerating the global transition toward clean energy.

The Company notes that the acquisition and development of PV power plants inherently involve complexities, which could prolong execution schedules and introduce uncertainties regarding project completion. Elements such as the outcomes of due diligence, necessary regulatory approvals, and the progression of negotiations might postpone or even halt transactions, thereby affecting their successful conclusion.

Guidelines for PV Power Plant Initiatives

The Company plans to perform thorough due diligence on prospective power plant targets. It will prioritize confirming legal ownership, adherence to regulations, and the quality of assets to minimize risks associated with transactions.

The Company will manage all capital expenditures and fund allocations prudently and incrementally, ensuring they align with its strategic objectives and financial capacity. Weiqi Huang, CEO of Skycorp Solar Group, stated, “The Board’s approval demonstrates our belief in solar PV infrastructure as a fundamental element of the worldwide energy transition. By integrating our technological know-how with careful financial management, we anticipate making successful acquisitions in the future, allowing us to seize new market opportunities and provide lasting value to our stakeholders. Furthermore, this endeavor highlights our dedication to evolving from simply manufacturing components to offering complete renewable energy solutions.”

About Skycorp Solar Group Limited

Skycorp Solar Group Limited specializes as a provider of solar photovoltaic (PV) products, concentrating on the production and sale of solar cables and connectors. Its operations are managed via its subsidiaries, which include Ningbo Skycorp Solar Co., Ltd., located in China.

The Company aims to become a supplier of green energy solutions, achieving this by harnessing solar power and offering environmentally friendly solar PV products. By utilizing its proficiency in solar technologies and its connections with global clientele, it seeks to broaden its range of solar PV products and energy solutions for business clients. For additional details, please visit: .

Forward-Looking Statement

This press release includes statements that are forward-looking. Such statements encompass information regarding plans, aims, targets, strategies, future occurrences or results, and the assumptions underpinning them, as well as any statements that are not historical facts. The Company is making forward-looking statements when it employs terms like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or comparable phrases that do not exclusively refer to past events. Forward-looking statements do not assure future performance and carry risks and uncertainties that could cause actual outcomes to vary significantly from the Company’s expectations outlined in these statements. These statements are subject to various uncertainties and risks, including, but not limited to, those elements described in the “Risk Factors” section of the registration statement submitted to the SEC. Consequently, among other reasons, investors are advised against placing excessive reliance on any forward-looking statements contained in this press release. Further factors are detailed in the Company’s SEC filings, accessible for review at . The Company is not obligated to publicly update these forward-looking statements to reflect subsequent events or circumstances.

For more information, please contact:

Skycorp Solar Group Limited
Cathy Li
Investor Relations
Email:
Tel: +86 185 0252 9641 (CN)

WFS Investor Relations Inc.
Connie Kang
Partner
Email:
Tel: +86 1381 185 7742 (CN)