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)

Skycorp Solar Group Limited Announces 1-for-20 Reverse Share Split