Skycorp Solar Group Limited Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
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 it received a notice (the “Notice”) from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) on October 30, 2025.
The Notice states 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). This determination was based on 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 prior to April 28, 2026. Nasdaq may extend this compliance period at its discretion.
Once compliance is achieved, Nasdaq will provide written confirmation and close the matter.
If the Company is unable to regain compliance by April 28, 2026, it may be eligible for an additional 180-calendar-day compliance period to demonstrate compliance with the minimum bid price requirement. To qualify for this second compliance period, the Company will be required to meet the continued listing requirements for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except the minimum bid price.
Moreover, the Company must provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, potentially by effecting a reverse stock split if necessary. Nasdaq must also determine that the Company appears capable of curing the deficiency.
If the Company does not qualify for the second compliance period or fails to regain compliance during this additional 180-day period, Nasdaq will notify the Company of its determination to delist the Class A Ordinary Shares. At that point, the Company would have an opportunity to appeal the delisting determination to a Hearings Panel.
The Company will continue to monitor the closing bid price of its Class A Ordinary Shares. It is important to note that 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. The Company also partners with various IC chip manufacturers to offer new and used GPU and HPC servers.
Its operations are managed through subsidiaries, including Ningbo Skycorp Solar Co., Ltd., located 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 expertise in solar technologies and relationships with HPC server clients, Skycorp aims to expand its offerings of solar PV products and server solutions for enterprise customers.
For more information, please visit the Company’s website.
Forward-Looking Statement
This press release contains forward-looking statements. Such statements include, but are not limited to, plans, objectives, goals, strategies, future events or performance, and underlying assumptions that are not statements of historical facts.
Words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” and “estimate” or similar expressions are used to identify forward-looking statements.
Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from those anticipated. These risks include uncertainties related to market conditions, completion of the initial public offering on anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC.
Investors are cautioned not to place undue reliance on forward-looking statements. Additional factors are detailed in the Company’s filings with the SEC, available for review at www.sec.gov.
The Company undertakes no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this release.
Contact Information
Skycorp Solar Group Limited
Cathy Li
Investor Relations
Email: [email protected]
Tel: +86 185 0252 9641
WFS Investor Relations Inc.
Connie Kang
Partner
Email: [email protected]
Tel: +86 1381 185 7742
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