PN Smart Energy Ltd

Ningbo Skycorp is a solar PV product provider primarily involved in the manufacturing and sale of solar cables and solar connectors. The company also collaborates with multiple IC chip manufacturers to offer customers new and used GPU and HPC servers. Its operations are conducted through its operating subsidiaries in China. For the fiscal year ended September 30, 2025, Ningbo Skycorp generated revenues of $63,311,196, with a net loss of $(2,211,646). In the prior fiscal year ended September 30, 2024, revenues were $49,864,047, with a net income of $1,165,819. In fiscal year 2025, 97.4% of revenues came from solar PV products and services, and 2.02% from HPC products. This compares to fiscal year 2024, where 93.23% of revenues were from solar PV products and services and 6.77% from HPC products. Geographically, for the fiscal year ended September 30, 2025, 62% of total revenues ($39,309,328) originated from Mainland China, 23% ($14,790,511) from Asia other than mainland China, and 15% ($9,211,357) from other regions. In fiscal year 2024, Mainland China accounted for 80% ($39,897,231) of revenues, Asia other than mainland China for 9% ($4,486,691), and other regions for 11% ($5,480,125). The revenue share from Mainland China decreased from 80% in fiscal year 2024 to 62% in fiscal year 2025, while sales in Asian regions outside Mainland China increased due to policy support for the photovoltaic industry from foreign countries.