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Mergers & Acquisitions•1 May 2026•

1 min read

Skycorp Solar Acquires Cesun Power as Rongcheng Group Plans SPAC Merger

Key Facts

1Skycorp Solar Group Limited announced the acquisition of the remaining 56% equity interest in Nanjing Cesun Power Co., Ltd.

2Rongcheng Group Limited entered into a merger agreement with GalaxyEdge Acquisition Corporation, a special purpose acquisition company.

3Skycorp raised an aggregate of $3.0 million through a private placement transaction with institutional investors.

Skycorp Solar Group Limited has announced a strategic move to acquire the remaining 56% equity interest in Nanjing Cesun Power Co., Ltd., effectively consolidating its ownership. In tandem with the acquisition, Skycorp successfully raised $3.0 million through a private placement transaction with institutional investors to support its growth initiatives. Separately, Rongcheng Group Limited has entered into a definitive merger agreement with GalaxyEdge Acquisition Corporation, a special purpose acquisition company (SPAC). This business combination is designed to facilitate Rongcheng Group's transition into a publicly traded entity. These corporate actions highlight ongoing consolidation and capital-raising activities within the renewable energy and industrial sectors. The transactions are expected to strengthen the respective companies' balance sheets and market positioning.