Skyworth Group plans to spin off photovoltaic listings and delist, involving HK$2.557 billion

On January 20, Skyworth Group issued a formal announcement, revealing that the company's board of directors had made a special resolution on January 4, 2026. On the basis of all prerequisites being met, the group plans to launch a series of capital operation proposals, including distributing shares of Skyworth Solar to shareholders, promoting the independent listing of Skyworth Solar, and realizing its own delisting through share repurchase. Measures.

The announcement shows that after meeting the established conditions, Skyworth Group will distribute all shares held by Skyworth Solar to all registered shareholders free of charge. Skyworth Solar will then formally apply for listing on the main board of the Stock Exchange of Hong Kong through introduction and listing. At the same time, Skyworth Group will launch a share repurchase plan to promote the cancellation of its listing status, which involves the cancellation of planned shares. For plan shares, shareholders can choose two options to exit: either receive cash compensation at a price of HK$4.03 per share, or exchange for new shares at a 1:1 ratio. It is worth noting that the three major issues of equity distribution, Skyworth Solar's listing and the group's own share repurchase are prerequisites for each other and will be completed simultaneously or nearly simultaneously.

According to public data, Skyworth Group currently has 634,536,832 planned shares issued. If all plan shareholders choose the cash redemption plan, the maximum cash consideration that the group needs to pay is approximately HK$2.557 billion. Regarding the source of the funds, Skyworth Group stated that it plans to raise them through a combination of internal funds and/or external debt financing.

Data shows that Skyworth Group was established in 1988. After decades of development, it has formed four core business segments, namely smart home appliance business, intelligent system technology business, new energy business and modern service industry. At present, the group already owns two domestic and overseas listed companies, Skyworth Group and Skyworth Digital, building a diversified industrial layout and capital platform.

In terms of financial data, in the first three quarters of 2025, Skyworth Group achieved operating income of 36.26 billion yuan, an increase of 20.3% over the same period last year, and its revenue scale maintained steady expansion; however, the net profit attributable to shareholders of the parent company was 125 million yuan, a year-on-year decline of 67.4%, and its earnings performance is facing periodic pressure.

On the same day, Skyworth Digital also issued an announcement simultaneously in response to the delisting proposal of Skyworth Group, the indirect controlling shareholder. The announcement pointed out that after the implementation of Skyworth Group's plan to withdraw its listing status, its own shareholding structure will change accordingly, but this adjustment will not lead to changes in Skyworth Digital's controlling shareholder and actual controller, nor will it affect the company's normal production and operation. Have a significant adverse impact. As of now, the controlling shareholder of Skyworth Digital is still Skyworth RGB, the indirect controlling shareholder remains Skyworth Group, and the actual controllers are still Huang Hongsheng, Lin Weiping and Lin Jin.