$PN

Skycorp Solar Group Ltd

CIK:0002001288|SEC Filings

Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2023
Revenues	$ 63,311,196	$ 49,864,047	$ 50,815,675
Cost of revenues	(57,010,755)	(43,329,908)	(42,193,756)
Gross profit	6,300,441	6,534,139	8,621,919
Operating expenses:
Selling and marketing expenses	(2,344,453)	(1,812,500)	(2,464,908)
General and administrative expenses	(4,824,085)	(1,725,898)	(2,831,805)
Research and development expenses	(1,680,797)	(1,874,219)	(607,484)
Total operating expenses	(8,849,335)	(5,412,617)	(5,904,197)
Operating income (expenses), net	(2,548,894)	1,121,522	2,717,722
Other income (expenses):
Unrealized loss from digital assets	(18,787)
Losses on equity investments	(50,975)
Interest expense	(207,848)	(202,693)	(88,728)
Interest income	60,955	50,966	37,477
Foreign exchange gain , net	110,914	98,948	(202,859)
Other income, net	479,076	206,875	96,188
Total other income (expenses), net	373,335	154,096	(157,922)
(Loss) Income before income tax expense	(2,175,559)	1,275,618	2,559,800
Income tax expense	(36,087)	(109,799)	(752,072)
Net (loss) income	(2,211,646)	1,165,819	1,807,728
Less: net loss attributable to non-controlling shareholders	484,319	694,832	708,067
Net (loss) income attributable to Skycorp Solar Group Ltd	(2,695,965)	470,987	1,099,661
Other comprehensive (loss) income:
Foreign currency translation adjustments	(236,066)	703,187	(464,574)
Comprehensive (loss) income	(2,447,712)	1,869,006	1,343,154
Less: comprehensive income attributable to non-controlling interests	487,872	737,068	654,331
Comprehensive (loss) income attributable to Skycorp Solar Group Ltd	$ (2,935,584)	$ 1,131,938	$ 688,823
Earnings per share, basic	$ (0.1)	$ 0.02	$ 0.04
Earnings per share, diluted	$ (0.1)	$ 0.02	$ 0.04
Weighted average number of ordinary shares outstanding, basic	26,156,164	25,000,000	25,000,000
Weighted average number of ordinary shares outstanding, diluted	26,156,164	25,000,000	25,000,000

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (2,211,646)	$ 1,165,819	$ 1,807,728
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	377,938	322,132	263,059
Provision for inventory impairment	27,321
Amortization of right-of-use assets	394,154	153,754	157,108
Provision for expected credit loss	603,861	301,973	115,634
Loss on disposal of property and equipment		5,523
Unrealized loss on digital assets held	18,787
Losses on equity investments	50,975
Gains on disposal of items of right-of-use assets	(6,444)
Changes in operating assets and liabilities:
Accounts receivable	783,546	(4,158,857)	(5,983,398)
Inventories	(1,727,748)	1,553,810	4,904,689
Due from related parties	(4,746,036)
Due to related parties	2,250,864
Notes receivable	(241,004)	367,861	(124,973)
Prepaid expenses and other current assets	(3,684,042)	1,831,587	4,850,467
Deferred tax assets	(28,961)
Accounts payable	2,988,792	(1,240,765)	(622,707)
Other payables	2,785,490	218,711	30,365
Contract liabilities	3,177,572	1,894,110	(6,559,743)
Tax payables	314,246	384,575	1,673,045
Notes payable	2,113,654	(1,036,580)	208,188
Lease liabilities	(368,379)	(166,567)	(170,201)
Net Cash Provided by Operating Activities	2,872,940	1,597,086	549,261
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(465,357)	(239,820)	(303,410)
Purchase of digital assets	(50,000)
Purchases of equity investments	(2,943,636)
Purchase of intangible assets		(165,528)	(1,965,343)
Advances made to related parties	(1,472,950)
Collection from related parties	128,122
Downpayment for investment		(4,029,377)
Net Cash Used in Investing Activities	(4,803,821)	(4,434,725)	(2,268,753)
CASH FLOWS FROM FINANCING ACTIVITIES
Gross proceeds from initial public offering	8,000,000
Payments related to initial public offering	(1,567,720)
Proceeds from borrowings	1,729,771	5,132,599	2,446,009
Repayment of borrowings	(2,451,794)	(4,807,987)	(1,279,532)
Borrowings from related parties	3,105,579	1,943,597	2,401,288
Repayment of borrowings to related parties	(394,915)	(263,980)	(38,118)
Capital contribution from non-controlling interest	55,819		(6,650)
Dividends paid to non-controlling interest	(279,220)	(138,806)
Net Cash Provided by Financing Activities	8,197,520	1,865,423	3,522,997
Effect of exchange rate changes on cash, cash equivalents and restricted cash	40,577	208,727	(169,850)
Net change in cash and cash equivalents and restricted cash	6,307,216	(763,489)	1,633,655
Cash and cash equivalents and restricted cash at beginning of the year	5,166,851	5,930,340	4,296,685
Cash and cash equivalents and restricted cash at end of the year	11,474,067	5,166,851	5,930,340
Supplemental disclosure of cash flow information:
Cash paid for income taxes	3,237	32,200	43,459
Cash paid for interest expenses	124,416	202,693	88,728
Supplemental disclosure of non-cash flow information:
Right-of-use assets obtained in exchange for new operating lease liabilities	1,995,571
Disposal of an unpaid-in subsidiary	139,610
Acquisition of equity investment through settlement of downpayment for investment	$ 3,954,995

Consolidated Balance Sheets	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)
Current assets:
Cash and cash equivalents	$ 9,343,368	$ 5,166,851
Restricted cash	2,130,699
Notes receivable	477,106	237,092
Digital assets	31,213
Accounts receivable, net	9,046,671	10,656,432
Inventories, net	4,279,330	2,597,322
Prepaid expenses and other current assets,net	5,106,553	4,457,783
Total current assets	34,592,927	25,429,957
Equity investments	6,891,243
Property and equipment, net	831,963	538,708
Intangible assets	1,509,106	1,742,458
Downpayment for investment		4,136,577
Right-of-use assets	1,639,652	104,223
Deferred tax assets	29,195
Total non-current assets	10,901,159	6,521,966
Total Assets	45,494,086	31,951,923
Current liabilities:
Borrowings – current	2,002,648	2,363,303
Notes payable	2,130,699
Contract liabilties	7,499,799	4,350,421
Accounts payable & other payables	4,595,528	1,815,751
Tax payables	4,390,789	4,125,038
Lease liabilities -current	386,590	84,492
Total current liabilities	21,720,189	12,760,162
Borrowings – non current	43,725	427,421
Lease liabilities – non current	1,253,062
Total non-current liabilities	1,296,787	427,421
Total Liabilities	23,016,976	13,187,583
Shareholders’ Equity:
Additional paid-in capital	8,464,735	2,032,655
Appropriation of statutory reserve	138,408
Retained earnings	11,409,619	14,275,450
Accumulated other comprehensive income (loss)	(130,537)	109,082
Total Skycorp Solar Group Ltd Shareholders’ Equity	19,884,925	16,419,687
Non-controlling interests	2,592,185	2,344,653
Total Shareholder’s Equity	22,477,110	18,764,340
Total Liabilities and Shareholders’ Equity	45,494,086	31,951,923
Related Party
Current assets:
Due from related parties	4,177,987	2,314,477
Current liabilities:
Due to related parties	714,136	21,157
Class A Ordinary Shares
Shareholders’ Equity:
Ordinary shares value	1,398	2,500
Class B Ordinary Shares
Shareholders’ Equity:
Ordinary shares value	$ 1,302