PN · Skycorp Solar Group Limited

Skycorp Solar Group Limited, a Cayman Islands exempted company listed on Nasdaq (PN), has convened an Extraordinary General Meeting (EGM) for shareholders of record as of May 6, 2026, to consider four key proposals that could significantly alter its corporate structure and identity. The name change to PN Smart Energy Limited under Proposal 1 signals a potential strategic rebranding, possibly to broaden its focus beyond solar cables and connectors toward wider green energy solutions, as hinted in its mission statement. Proposal 2 dramatically expands authorized share capital from US$100,000 to US$1,000,000 by increasing Class A Ordinary Shares from 37.5 million to 430 million and Class B from 5.5 million to 63 million, while keeping Preferred Shares at 7 million—all at US$0.002 par value. This tenfold increase provides substantial flexibility for future equity issuances, such as financings, acquisitions, or employee incentives, without needing further shareholder approval. Proposal 3 ties these changes together by adopting a Sixth Amended and Restated Memorandum and Articles of Association, effective immediately post-approval of Proposals 1 and 2, ensuring governance documents align with the new name and capital structure. Proposal 4 offers a procedural safeguard, allowing adjournment for additional proxy solicitation if votes fall short. Investors should note the meeting's physical location in Ningbo, China, proxy voting options via Transhare, and availability of documents on the IR website. While forward-looking statements caution risks, approval would position the company for expanded operations under a new identity.