SKYWORTH GROUP (00751) has announced that on January 4, 2026, its Board of Directors resolved to propose a plan, subject to the fulfillment of pre-conditions. This plan includes the distribution of SKYWORTH Photovoltaic shares and the listing of these shares by way of introduction on the Main Board of The Stock Exchange of Hong Kong. The company will seek to delist by canceling its listing status through a share repurchase scheme under Section 99 of the Companies Ordinance, which involves the cancellation of scheme shares in exchange for either (a) a cash option of HK$4.03 per scheme share, or (b) a share option of one new share for each scheme share. The company has applied to the Exchange for the resumption of trading of its shares, commencing at 9:00 a.m. on January 21, 2026. The distribution of shares, the listing of SKYWORTH Photovoltaic, and the completion of the share repurchase plan are inter-conditional. These events are scheduled to occur on the same day, or approximately the same day. Based on the median valuation range of HK$16.57 per SKYWORTH Photovoltaic share as of November 30, 2025, estimated by the valuer using the valuation reference exchange rate, the theoretical value of the 0.3699779 SKYWORTH Photovoltaic shares to be received per existing share under the distribution and listing is approximately HK$6.13. Combined with the plan consideration from the cash option, the total theoretical value per scheme share under the proposal is approximately HK$10.16. This represents a premium of about 96.15% over the closing price of HK$5.18 per share on the last trading day. SKYWORTH Photovoltaic Group possesses a comprehensive capability system covering integrated system solutions, smart photovoltaic manufacturing, energy storage, operation and maintenance, logistics, overseas operations, and smart energy management. As of June 30, 2025, this business segment had constructed over 800,000 power stations, with cumulative power generation exceeding 41 billion kilowatt-hours and an operational capacity of over 27 gigawatts, supported by its R&D capabilities and manufacturing infrastructure. Upon completion of the proposal, SKYWORTH Photovoltaic will be able to achieve a market value re-rating, allowing the true value of the new energy business to be fully recognized and enabling it to reward shareholders' investment with substantial cash returns.
Comments