Ningbo, China, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Skycorp Solar Group Limited (Nasdaq: PN) (the "Company"), a solar PV product provider engaged in the manufacture and sale of solar cables and solar connectors, today announced that the Company received a notice (the "Notice") from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") on October 30, 2025, stating that the Company's Class A ordinary shares, par value $0.0001 per share (the "Class A Ordinary Shares"), fail to comply with the $1.00 minimum bid price requirement for continued listing on Nasdaq in accordance with Nasdaq Listing Rule 5550(a)(2) based upon the closing bid price of the Class A Ordinary Shares for the 30 consecutive business days prior to the date of the Notice.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided with an initial compliance period of 180 calendar days, or until April 28, 2026, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Class A Ordinary Shares must be at least $1.00 for at least 10 consecutive business days (with such compliance period extendable at the discretion of Nasdaq) prior to April 28, 2026. Nasdaq would then provide a written confirmation of compliance and the matter will be closed.
If the Company is unable to regain compliance by April 28, 2026, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the minimum bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the minimum bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary, and it must otherwise appear to Nasdaq that the Company is capable of curing the deficiency. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180 calendar day period, then Nasdaq will notify the Company of its determination to delist the Class A Ordinary Shares, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings Panel.
The Company will monitor the closing bid price of its Class A Ordinary Shares. Receipt of the Notice has no effect on the Company's business operations.
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. We also partner with various IC chip manufacturers to offer new and used GPU and HPC servers. 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 for data centers by utilizing solar power and delivering eco-friendly solar PV products. By leveraging the Company's expertise in solar technologies and relationships with HPC server clients, it aims to expand offerings of solar PV products and server solutions for enterprise customers. For more information, please visit: https://www.ir.skycorp.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. These forward-looking statements include, without limitation, the Company's statements regarding the expected trading of its Ordinary Shares on the Nasdaq Capital Market and the closing of the Offering. 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, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other 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: ir@skycorp.com
Tel: +86 185 0252 9641
WFS Investor Relations Inc.
Connie Kang
Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742
